Wallbridge Exploration Drilling Continues to Expand Mineralized Footprint of Martiniere Deposit Intercepting Multiple High Grade Gold Structures
TORONTO, June 02, 2025 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX: WM, OTCQB:WLBMF) ('Wallbridge' or the 'Company') today announced the results for the first eleven holes of its 2025 exploration drilling program at its 100% owned Martiniere gold project ('Martiniere'). The results include multiple high-grade gold intercepts along extensions to four of the zones targeted along the Bug Lake ('BL') deformation corridor, and at a fifth newly identified target located approximately 300 metres north of the BL deformation corridor.
Highlights:
Dragonfly
MR-25-111
40.99 g/t Au over 2.3m including 59.60 g/t Au over 1.5m
MR-25-112
20.91 g/t Au over 2.7m including 51.90 g/t Au over 1.0m
MR-25-116
28.44 g/t Au over 1.2m including 52.80 g/t Au over 0.6m;
18.54 g/t Au over 4.0m including 65.80 g/t Au over 1.0m
MR-25-117
7.61 g/t Au over 2.1m including 17.60 g/t Au over 0.9m
MR-25-121
28.52 g/t Au over 1.8m including 63.00 g/t Au over 0.8m
14.31 g/t Au over 1.5m including 30.50 g/t Au over 0.5m;
16.79 g/t Au over 10.1m including 17.62 g/t Au over 3.0m and 32.87 g/t Au over 3.0m;
17.08 g/t Au over 1.7m including 38.90 g/t Au over 0.7m
Horsefly
MR-24-100
6.71 g/t Au over 14.4m including 9.81 g/t Au over 3.0m and 11.41 g/t Au over 5.0m
BL North
MR-25-113
6.14 g/t Au over 0.6m and 5.62 g/t Au over 0.7m
Martiniere Northeast -
MR-25-115
3.84 g/t Au over 6.0m including 7.27 g/t over 3.0m
"We continue to be very pleased with the positive results of our exploration program at Martiniere,' commented Brian W. Penny, Wallbridge CEO. 'Building on the success of our 2024 exploration program, our strategy for 2025 is to assess the potential to expand the Martiniere gold resource through systematic step-out drilling along known high-grade structures along the Bug Lake deformation corridor and drilling of new targets identified within the broader deposit area. The initial results for Phase 1 reflect the success of this strategy. Our team is eager to receive the remaining Phase 1 assay results which will be incorporated into our plans for Phase 2 scheduled to commence in mid-July,' concluded Mr. Penny.
Martiniere 2025 Drilling Program
The Company's 2025 Martiniere drilling program commenced earlier this year in mid-March (see Wallbridge news release dated March 14, 2025). During 2025, the Company plans to complete a total of 10,000 to 15,000 metres in two phases of drilling at Martiniere. During Phase 1, completed on May 14, the Company drilled 16 holes plus two extensions to holes drilled in 2024 for a total of 7,225 metres. The results presented in this news release are for the first nine holes plus the two-hole extensions. Once all pending assays have been received, the Company plans to report the remaining results of the Phase 1 program in late June or early July. Drilling at Martiniere is scheduled to resume in mid-July with the commencement of the Phase 2 program.
At Dragonfly, high-grade gold intercepts in drill holes MR-25-111, MR-25-112, MR-25-121, and an extension to hole MR-24-110 add another 300 metres of strike length to the northwest, providing further support for geologic continuity between the Dragonfly and the Bug Lake North zones. Likewise, high-grade gold mineralization intercepted in hole MR-25-117 extends the Dragonfly zone another 250 metres to the southeast, where mineralization remains open along strike. Assay results are pending for holes MR-25-122 and MR-25-123 drilled to test down-dip projections of Dragonfly gold mineralization.
At Horsefly, a deeper extension to hole MR-24-100 has intercepted additional high-grade gold mineralization peripheral to the currently defined mineral resource. Drilling has also intercepted significant gold grades in hole MR-25-114 drilled approximately 200 metres to the east of the Horsefly resource. Assay results are pending for Horsefly holes MR-25-124 and MR-25-125 drilled to test for additional gold mineralization between the Horsefly resource and the regional scale Lac-Du-Doigt fault to the north.
Drilling farther outboard of the central Martiniere resource area has also returned positive results. Drill hole MR-25-115 intercepted 3.0 metres of high-grade gold mineralization grading 7.37 g/t Au in an area north of the Lac du Doigt fault where no exploration drilling has been done previously. Assay results are pending for holes MR-25-120 and MR-25-126, drilled as widely spaced step-out holes to follow up on the positive results returned from MR-25-115. Step-out drilling along the southeasterly trending Bug Lake South zone intercepted a narrow interval of mineralization grading 2.35 g/t Au over 1.0m in hole MR-25-118. Assays are pending for hole MR-25-119, drilled as a down-plunge step-out of the Bug Lake South underground resource.
With these latest results, gold mineralization along the Bug Lake corridor has been delineated over an approximate 2,000m by 800m area and to an average vertical depth of 350-400m below surface. Deeper intercepts from hole MR-25-121 reported here and historic drill hole MDE-17-189 indicate the Martiniere gold system remains open at depth to at least 500m below surface. Gold mineralization at Martiniere occurs in close association with pyritic silica-sericite alteration and quartz-carbonate veining along discrete fault and shear structures in a host sequence of basaltic volcanic and cross-cutting felsic porphyry intrusive rocks.
Martiniere Drill Hole Location Map
For more information including a drill hole location map, representative long-section and tables with drill hole location information and composited assays for complete drill holes please refer to the links below.
Martiniere Plan View – 2025 Drilling
Martiniere Gold Project: 2024 Phase 2 Long-Section
Martiniere Gold Project: Q3 2024 Drill Assay Summary and Drill Hole Location Information
Martiniere Project 2025 Phase 1 Drill Assay Highlights1
From
To
Length3
Au4
Drill Hole
VG* 2
(m)
(m)
(m)
(g/t)
DRAGONFLY
MR-24-110
Reported previously
79.3
80.6
1.3
17.35
*
143.0
145.3
2.3
27.60
234.2
235.4
1.2
5.95
MR-25-111
*
457.0
458.5
1.5
7.87
Including
457.0
458.0
1.0
0.50
*
458.0
458.5
0.5
22.60
464.0
467.7
3.7
3.98
Including
464.0
467.0
3.0
2.79
467.0
467.7
0.7
9.08
500.7
503.0
2.3
40.99
Including
500.7
502.2
1.5
59.60
502.2
503.0
0.8
6.11
MR-25-112
254.7
257.4
2.7
20.91
Including
254.7
255.5
0.8
3.52
255.5
256.5
1.0
51.90
256.5
257.4
0.9
1.93
MR-25-116
*
160.8
162.0
1.2
28.44
Including
160.8
161.4
0.6
4.08
*
161.4
162.0
0.6
52.80
336.0
340.0
4.0
18.54
Including
336.0
337.1
1.1
5.49
337.1
338.0
0.9
0.48
338.0
339.0
1.0
65.80
339.0
340.0
1.0
1.88
MR-25-117
274.5
276.6
2.1
7.61
Including
274.5
275.0
0.5
0.11
275.0
275.9
0.9
17.60
275.9
276.6
0.7
0.13
MR-25-121
*
121.2
123.0
1.8
28.52
Including
121.2
122.2
1.0
0.94
*
122.2
123.0
0.8
63.00
*
247.0
248.5
1.5
14.31
Including*
247.0
247.7
0.7
30.50
247.7
248.5
0.8
0.15
*
375.4
378.8
3.4
5.79
Including
375.4
376.4
1.0
3.35
376.4
377.8
1.4
0.50
*
377.8
378.8
1.0
15.65
421.2
423.5
2.3
4.88
Including
421.2
422.2
1.0
10.30
422.2
423.5
1.3
0.71
443.9
454.0
10.1
16.79
Including
443.9
447.9
4.0
17.62
447.9
451.0
3.1
0.15
451.0
454.0
3.0
32.87
465.5
467.8
2.3
3.65
Including
465.5
466.8
1.3
0.41
466.8
467.8
1.0
7.87
480.0
482.4
2.4
2.65
Including
480.0
480.8
0.8
1.42
480.8
481.8
1.0
4.29
481.8
482.4
0.6
1.57
484.8
486.5
1.7
17.08
Including
484.8
485.5
0.7
38.90
485.5
486.5
1.0
1.01
577.0
579.0
2.0
8.90
Including
577.0
578.5
1.5
1.77
578.5
579.0
0.5
30.30
MR-25-122
Assays Pending
MR-25-123
Assays Pending
BUG LAKE NORTH
MR-25-113
25.5
30.0
4.5
1.14
25.5
27.0
1.5
0.22
27.0
27.6
0.6
6.14
27.6
30.0
2.4
0.46
390.3
392.0
1.7
2.41
390.3
391.0
0.7
5.62
391.0
392.0
1.0
0.17
HORSEFLY
MR-24-100
Reported Previously *
57.8
68.8
11.0
16.21
*
114.4
121.3
6.9
7.24
124.4
130.0
5.6
3.70
155.0
155.5
0.5
10.80
162.0
163.5
1.5
6.11
*
284.6
299.0
14.4
6.71
Including
284.6
286.5
1.9
5.08
286.5
288.0
1.5
0.04
288.0
291.0
3.0
9.81
291.0
294.0
3.0
0.14
*
294.0
299.0
5.0
11.41
MR-25-114
226.7
227.6
0.9
2.79
240.7
241.5
0.8
2.05
MR-25-124
Assays Pending
MR-25-125
Assays Pending
MARTINIERE NORTHEAST
MR-25-115
234.0
237.0
3.0
7.27
Including
234.0
235.5
1.5
8.16
235.5
237.0
1.5
6.38
MR-25-120
Assays Pending
BUG LAKE SOUTH
MR-25-118
189.9
190.9
1.0
2.35
MR-25-119
Assays Pending
Summarized assay highlights have been selected based on a combination of criteria including observable mineralization and/or having a Metal Factor >5 gm*m (MF = Au g/t * Interval length). Asterisk * denotes visible gold (VG) observed in drill core.True widths are estimated to be 60-90% of the reported core length intervals.Previously reported results (November 6, 2024 News Release) that were initially reported as >10g/t have been updated.
The Martiniere project is a key component of the Company's 830 square kilometre Detour-Fenelon Trend property package located in Northern Abitibi, Quebec, 30 kilometres west of the Company's flagship Fenelon gold project and 50 kilometres east of Canada's largest gold mine, Agnico Eagle's Detour Lake gold mine. Exploration and resource delineation drilling completed at Martiniere has so far intercepted multiple zones of vein-hosted gold mineralization over an approximate 2.0 kilometre by 800 metre area along the northwest-southeast trending Bug Lake Zone, and over an approximate 1.5 kilometre by 250 metre area along the northeast-southwest trending Martiniere West and Central corridor.Wallbridge Mining Detour – Fenelon Gold Trend Properties
Quality Assurance / Quality Control
Wallbridge maintains a Quality Assurance/Quality Control ("QA/QC") program for all its exploration projects using industry best practices. Key elements of the QA/QC program include verifiable chain of custody for samples, regular insertion of blanks and certified reference materials, and completion of secondary check analyses performed at a separate independent accredited laboratory. Drill core is halved and shipped in sealed bags to Activation Laboratories Ltd. (ActLabs) in Val d'Or, Quebec where they are routinely analysed via fire assay with AAS finish methods. For greater precision and accuracy, samples assaying 10 g/t Au or greater are re-distributed to other ActLabs facilities where they are re-assayed via metallic screen fire assay or fire assay/gravimetric finish, depending on the amount of sample material remaining available. Samples containing visible gold are submitted directly for analysis by metallic screen fire assay method. Activation Laboratories Ltd. operates under a Quality Management System that conforms to the requirements of ISO/IEC 17025.
Qualified Person
The Qualified Person responsible for the technical content of this news release is Mr. Mark A. Petersen, M.Sc., P.Geo. (OGQ AS-10796; PGO 3069), Senior Exploration Consultant for Wallbridge.
About Wallbridge Mining
Wallbridge is focused on creating value through the exploration and sustainable development of gold projects in Quebec's Abitibi region while respecting the environment and communities where it operates. The Company holds a contiguous mineral property position totaling 830 km2 that extends approximately 97 km along the Detour-Fenelon gold trend. The property is host to the Company's flagship PEA stage Fenelon Gold Project, and its earlier exploration stage Martiniere Gold Project, as well as numerous other gold exploration targets.
For further information please visit the Company's website at https://wallbridgemining.com/ or contact:
Wallbridge Mining Company Limited
Brian Penny, CPA, CMAChief Executive OfficerEmail: bpenny@wallbridgemining.comM: +1 416 716 8346
Tania Barreto, CPIRDirector, Investor RelationsEmail: tbarreto@wallbridgemining.comM: +1 289 819 3012The information in this document may contain forward-looking statements or information (collectively, '') within the meaning of applicable Canadian securities legislation. FLI is based on expectations, estimates, projections and interpretations as at the date of this document.
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, but are not limited to, 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 in this document may include, but is not limited to: statements regarding the results of the PEA; the potential future performance of the Common Shares; future drill results; the Company's ability to convert inferred resources into measured and indicated resources; environmental matters; stakeholder engagement and relationships; parametres and methods used to estimate the MRE's at Fenelon and Martiniere (collectively the ''); 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 document 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 in this document to reflect new events or circumstances. Unless otherwise noted, this document has been prepared based on information available as of the date of this document. 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 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, parametres or methods used to estimate the MREs and in the PEA; the ability of the Company to obtain required approvals; geological, mining and exploration technical problems; failure of equipment or processes to operate as anticipated; the evolution of the global economic climate; metal prices; foreign exchange rates; environmental expectations; community and non-governmental actions; and, the Company's ability to secure required funding. Risks and uncertainties about Wallbridge's business are discussed in the disclosure materials filed with the securities regulatory authorities in Canada, which are available at www.sedarplus.ca. Wallbridge prepares its disclosure in accordance with NI 43-101 which differs from the requirements of the U.S. Securities and Exchange Commission (the ""). Terms relating to mineral properties, mineralization and estimates of mineral reserves and mineral resources and economic studies used herein are defined in accordance with NI 43-101 under the guidelines set out in CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the Canadian Institute of Mining, Metallurgy and Petroleum Council on May 19, 2014, as amended. NI 43-101 differs significantly from the disclosure requirements of the SEC generally applicable to US companies. As such, the information presented herein concerning mineral properties, mineralization and estimates of mineral reserves and mineral resources may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/79d2d8b4-e16e-4375-9c96-5e2c5f8c125e
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The Company also announced it has surpassed $37.6 million in net sales for the first two months of the second quarter, from April 1, 2025 through May 31, 2025, representing a 10.7% increase from the comparable period in the prior year. Year-to-date net sales for the Company as of May 31, 2025 have reached $83.7 million. Given the strong Company performance, Lifeway now expects that net sales for the second quarter ended June 30, 2025, will be in the range of $52 million to $56 million. Key upcoming retail expansions include: Amazon Fresh: Lifeway introduces new 8oz Lifeway Organic, Lactose Free Flavor Fusions (Coconut Pineapple, Passionfruit Lychee, Blueberry Lavender) and Lifeway Organic Kefir Shots (Strawberry, Mixed Berry) in 61 Amazon Fresh physical stores, plus availability through Amazon Fresh e-commerce distribution. BJ's Wholesale Club: Two new 8oz kefir SKUs will be available in 268 warehouse locations, offering convenient wellness drinks for families. CVS: Three 32oz Lifeway Kefir flavors are expanding across CVS stores, giving shoppers easy access to probiotic-rich options. HEB: Launching in June, Lifeway's Farmer Cheese will be available in HEB stores across Texas, delivering a high protein, cultured dairy option. Hy-Vee: Four Whole Milk Kefir items and Farmer Cheese are now available in 180 Hy-Vee locations, enhancing Lifeway's Midwest reach. King Soopers, Fred Meyer, Ralph's, QFC (Kroger Divisions): Lifeway's Farmer Cheese is now available in these key regional banners, expanding reach across the West and Pacific Northwest. Lowes Foods: Shoppers can now find Lifeway Farmer Cheese in Lowes Foods stores throughout the Carolinas. Publix: Two new 8oz Lifeway Kefir items are launching in over 1,400 Publix stores, bringing new convenience options to the Southeast. Target: Lifeway will expand the distribution of the three current 32oz items across over 1,100 new shelf slots, significantly expanding visibility and availability. Whole Foods Market: Beginning in July, Lifeway's organic 8oz kefir items will launch in Whole Foods locations nationwide. Winn-Dixie: Four 32oz Lifeway Kefir items are launching in 170 stores, building on Lifeway's growth in the Southeastern U.S. "This expansion reflects the growing demand for functional foods that support gut health and overall wellness," said Julie Smolyansky, CEO of Lifeway Foods. "Viral social posts on TikTok and Instagram about kefir related to anti-bloating hacks and skin health are creating robust demand for Lifeway's key product line. Additionally, we're seeing a 63% unit increase in measured channels year-to-date for Lifeway Farmer Cheese, signaling incredible potential at mass grocers for this cult favorite. We're excited to bring our probiotic-rich Lifeway Kefir and Lifeway Farmer cheese to even more families across the country, through trusted retail partners who are working with us to provide a great selection of America's favorite kefir and farmer cheese for their customers. " Lifeway's continued distribution growth comes amid a rising consumer interest in fermented foods and functional nutrition. All Lifeway products are made with live and active cultures and are crafted to support immunity, digestion and long-term health. About Lifeway Foods, Foods, Inc., which has been recognized as one of Forbes' Best Small Companies, is America's leading supplier of the probiotic, fermented beverage known as kefir. In addition to its line of drinkable kefir, the company also produces a variety of cheeses and a ProBugs line for kids. Lifeway's tart and tangy fermented dairy products are now sold across the United States, Mexico, Ireland, South Africa, United Arab Emirates, and France. Learn how Lifeway is good for more than just you at Forward-Looking StatementsThis press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, the drivers of demand for Lifeway's products, consumer trends, the anticipated effects of scheduled upgrades at the Waukesha plant, expected operating efficiencies and expectations regarding future operating and financial performance. These statements use words, and variations of words, such as "will," "continue," "future," "increase," "believe," "outlook," "expect," and "predict." You are cautioned not to rely on these forward-looking statements. These forward-looking statements are made as of the date of this press release, are based on current expectations of future events and thus are inherently subject to a number of risks and uncertainties, many of which involve factors or circumstances beyond Lifeway's control. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from Lifeway's expectations and projections. These risks, uncertainties, and other factors include: price competition; the decisions of customers or consumers; the actions of competitors; changes in the pricing of commodities; the effects of government regulation; possible delays in the introduction of new products; customer acceptance of products and services; and uncertainty regarding proposals or other actions taken by shareholders related to the unsolicited proposal made by Danone North America PBC ("Danone") to acquire all of the shares of Lifeway stock that Danone does not already own. A further list and description of these risks, uncertainties, and other factors can be found in Lifeway's Annual Report on Form 10-K for the fiscal year ended December 31, 2024. Copies of these filings are available online at or on request from Lifeway. Lifeway expressly disclaims any obligation to update any forward-looking statements (including, without limitation, to reflect changed assumptions, the occurrence of anticipated or unanticipated events or new information), except as required by law. Perceptual AdvisorsDan TarmanEmail: dtarman@ Derek Miller Vice President of Communications, Lifeway FoodsEmail: derekm@ General inquiries:Lifeway Foods, 847-967-1010Email: info@ View original content to download multimedia: SOURCE Lifeway Foods, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
