WALLBRIDGE MINING COMPANY LIMITED 'Launched earlier this year, our systematic in-fill sampling program continues to deliver excellent results, providing a cost-efficient method of identifying additional gold mineralization that can be incorporated into the next MRE update for Fenelon, expected in the first quarter of 2023, followed by a PEA for the project by the end of the second quarter of next year.'
'The high-grade interval of 72.00 g/t Au over 1.50 metres from the Contact Zone in hole FA-20-195, one of the northwestern-most intersections of this zone, is very important because it underscores the potential for additional resource growth in this direction. In addition, the intersection of 15.12 g/t Au over 1.00 metre from FA-06-270 is at a very shallow depth in the
Wallbridge has prioritized more than 30,000 metres of previously unsampled drill core for in-fill sampling in 2022. This evaluation focuses on intervals that occur within or adjacent to known mineralized zones. To date, results for approximately 23,500 metres have been received.
Assay result highlights announced today include: FA-20-195
72.00 g/t Au over 1.50 metres in the Contact Zone, 170 metres northwest of the MRE outline, at a vertical depth of 680 metres; FA-21-230-W1
5.95 g/t Au over 4.50 metres, including 17.10 g/t Au over 1.50 metres in Area 51, outside of the MRE; FA-06-27 15.12 g/t Au over 1.00 metre in the
In-fill assay results of previously unsampled core from four exploration drill holes drilled between 2006 and 2021 are reported in the table and figures below. All figures and a table with drill hole information of recently completed holes are posted on the Company's website under 'Current Program' at https://wallbridgemining.com/our-projects/fenelon-gold/.
About
Wallbridge is focused on creating value through the exploration and sustainable development of gold projects along the Detour-Fenelon Gold Trend while respecting the environment and communities where it operates.
Wallbridge's flagship project, Fenelon Gold ('Fenelon'), is located on the highly prospective Detour-Fenelon Gold Trend Property ('Detour-Fenelon Gold Trend Property') in Northern Abitibi. A mineral resource estimate completed in 2021 validated the multi-million-ounce potential of the 100%-owned Fenelon and Martiniere properties, incorporating a combined 2.67 million ounces of indicated gold resources and 1.72 million ounces of inferred gold resources. Fenelon and Martiniere, located within a 910 km2 exploration land package controlled by Wallbridge, have the potential to be developed into mines and are close to existing power and transportation infrastructure.
Wallbridge also holds a portfolio of nickel assets ('Nickel Assets') in
Wallbridge will continue to focus on its core Detour-Fenelon Gold Trend Property while enabling shareholders to participate in the potential economic upside in Archer.
Contact:
President & CEO
Tel: (705) 682?9297 ext. 251
Email: mkord@wallbridgemining.com
Investor Relations Advisor
Email: vvargas@wallbridgemining.com
Cautionary Note Regarding Forward-Looking Information
This press release contains forward-looking statements or information (collectively, 'FLI') within the meaning of applicable Canadian securities legislation. FLI is based on expectations, estimates, projections, and interpretations as at the date of this press release.
All statements, other than statements of historical fact, included herein are FLI that involve various risks, assumptions, estimates and uncertainties. Generally, FLI can be identified by the use of statements that include words such as 'seeks', 'believes', 'anticipates', 'plans', 'continues', 'budget', 'scheduled', 'estimates', 'expects', 'forecasts', 'intends', 'projects', 'predicts', 'proposes', 'potential', 'targets' and variations of such words and phrases, or by statements that certain actions, events or results 'may', 'will', 'could', 'would', 'should' or 'might', 'be taken', 'occur' or 'be achieved.'
FLI herein includes, but is not limited to, statements regarding the Agreement, Transaction, Distribution (as previously defined) and the timing and terms of financing activities to be carried out by Archer as previously announced (the 'Financing'), and the intentions of Wallbridge and Archer upon completion of the transaction, future drill results; the Company's ability to convert inferred resources into measured and indicated resources; environmental matters; stakeholder engagement and relationships; parameters and methods used to estimate the mineral resource estimates (each an 'MRE') at the Fenelon and Martiniere properties (collectively the 'Deposits'); the prospects, if any, of the Deposits; future drilling at the Deposits; and the significance of historic exploration activities and results.
FLI is designed to help you understand management's current views of its near- and longer-term prospects, and it may not be appropriate for other purposes. FLI by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such FLI. Although the FLI contained in this press release is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such FLI, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such FLI. Except as required by law, the Company does not undertake, and assumes no obligation, to update or revise any such FLI contained herein to reflect new events or circumstances, except as may be required by law. Unless otherwise noted, this press release has been prepared based on information available as of the date of this press release. Accordingly, you should not place undue reliance on the FLI or information contained herein.
Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in FLI.
Assumptions upon which FLI is based, without limitation, include the ability of the Company and Archer to obtain required approvals and satisfy the closing conditions under the definitive agreement (including completion of the Financing by Archer), the results of exploration activities, the Company's financial position and general economic conditions, the ability of exploration activities to accurately predict mineralization; the accuracy of geological modelling; the ability of the Company to complete further exploration activities; the legitimacy of title and property interests in the Deposits; the accuracy of key assumptions, parameters or methods used to estimate the MREs; the ability of the Company to obtain required approvals; the evolution of the global economic climate; metal prices; environmental expectations; community and non-governmental actions; any impacts of COVID-19 on the Deposits; and, the Company's ability to secure required funding. Risks and uncertainties about Wallbridge's business are more fully discussed in the disclosure materials filed with the securities regulatory authorities in
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