Wallbridge Mining Intersections In Lower Cayenne Zone

TORONTO - Wallbridge Mining Company Limited reported an intersection of 24.61 g/t Au over 15.00 meters from the Lower Cayenne Zone, expanding the high-grade domain of this zone by 260 meters down-dip to a vertical depth of 825 meters.

The Company today reports partial assay results of two surface drill holes (FA-20-143 and -148), which are part of the Company’s ongoing, fully-funded 100,000-meter 2020 drill program at its 100%-owned Fenelon Gold Property. Further assay results from these drill holes from intervals transecting Area 51 gold mineralization are pending.

“This impressive gold intersection in hole FA-20-148 demonstrates that Tabasco-style wide, high-grade domains are also present in the Lower Cayenne Shear Zone,” said Attila Pentek, Vice President Exploration. Being 260 meters below another strong intersection of Lower Cayenne in hole FA-19-059, it opens up another parallel structure at depth for high-grade resource growth potential. At a vertical depth of 825 meters, this is also the deepest intersection of high-grade and high (>200) metal factor gold mineralization so far at Fenelon.”

Currently, four of six drill rigs are focusing on expanding the Tabasco-Cayenne-Area 51 mineralization on the original Fenelon Gold Property, carrying out a combination of 50-100-meter step-outs and tighter-spaced in-fill drilling. The Company estimates approximately 80,000 meters of drilling will be completed as part of this program by year-end, with approximately 46,000 meters completed to date.

The other two drill rigs are active on the newly-acquired portion of Fenelon to follow-up on the Reaper and Ripley gold discoveries made in 2019 and 2020 by Balmoral Resources Ltd., and to test the extensions of the Tabasco-Cayenne-Area 51 gold system onto this adjacent ground. Wallbridge is planning to complete approximately 20,000 meters of drilling in 2020 on the newly-acquired ground, with over 9,000 meters completed to date.