Wallbridge Exploration Drilling Continues to Expand Mineralized Footprint of Martiniere Deposit Intercepting Multiple High Grade Gold Structures

Globe and Mail

4 days ago

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:
"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 Highlights 1
From To Length 3 Au 4
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
MR-24-110 ext'nn 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
MR-24-100 ext'n 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
Notes
1 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).
2 Asterisk * denotes visible gold (VG) observed in drill core.
3 True widths are estimated to be 60-90% of the reported core length intervals.
4 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 km 2 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, CMA
Chief Executive Officer
Email: bpenny @wallbridgemining.com
M: [phone] Tania Barreto, CPIR
Director, Investor Relations
Email: [e-mail]
M: [phone]
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The information in this document may contain 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 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 ' 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 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.
Cautionary Notes to United States Investors
Wallbridge prepares its disclosure in accordance with NI 43-101 which differs from the requirements of the U.S. Securities and Exchange Commission (the " SEC"). 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.