Infill Drilling Program At The Lower Tabasco Zone

TORONTO - Wallbridge Mining Company Limited reported the first assay results from the ongoing 15-40 meter spaced infill drilling program to better define the high-grade core of the Lower Tabasco zone on its 100%-owned Fenelon Gold Property. Results of FA-19-086-W1, the first of five wedge cuts correlate well with the results of FA-19-086.

“Given the expected variability of this style of high-grade gold mineralization, the degree of consistency in terms of style of mineralization and grade distribution shown by these two intersections 25 meters apart could hardly be better,” said, Attila Pentek, Vice President Exploration. “Our aggressive, 50 to 100-meter spaced step-out drilling has been successful in expanding the footprint and size potential of the Fenelon Gold System. In order to deliver a robust maiden resource estimate, we are now increasingly doing more in-fill drilling at much tighter, 15 to 40-meter drill spacing to confirm continuity and grade. The visual results of the five wedge cuts completed around hole FA-19-086, and assays from the first wedge cut have demonstrated excellent continuity in Tabasco’s high-grade domain and we are now continuing in-fill drilling in other parts of the Tabasco and Cayenne zones. This tighter spaced drilling has also led to the initial modeling of the Jeremie Fault which is now recognized as an important structural control for gold deposition in the Fenelon Gold System.”

To September 30, 2020, approximately 75,000 meters of the planned fully-funded 100,000-meter 2020 drilling program have been completed. Currently, five 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 sixth drill rig is actively exploring the connection of the Tabasco-Cayenne-Area 51 gold system to the Ripley-Reaper area and the Sunday Lake Deformation Zone. Consideration has been given to increasing the scope and size of the planned 2020 and 2021 drilling programs to be able to fully assess the ultimate size potential of this rapidly growing gold system.