Latest news with #Wallbridge
Yahoo
4 days ago
- Business
- Yahoo
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 widths are estimated to be 60-90% of the reported core length 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 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, (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 or contact: Wallbridge Mining Company Limited Brian Penny, CPA, CMAChief Executive OfficerEmail: bpenny@ +1 416 716 8346 Tania Barreto, CPIRDirector, Investor RelationsEmail: tbarreto@ +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 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
Globe and Mail
4 days ago
- Business
- Globe and Mail
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: "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, (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 or contact: Wallbridge Mining Company Limited Brian Penny, CPA, CMA Chief Executive Officer Email: bpenny @ M: +1 416 716 8346 Tania Barreto, CPIR Director, Investor Relations Email: tbarreto@ M: +1 289 819 3012 Cautionary Note Regarding Forward-Looking Information 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 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.
Yahoo
4 days ago
- Business
- Yahoo
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 widths are estimated to be 60-90% of the reported core length 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 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, (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 or contact: Wallbridge Mining Company Limited Brian Penny, CPA, CMAChief Executive OfficerEmail: bpenny@ +1 416 716 8346 Tania Barreto, CPIRDirector, Investor RelationsEmail: tbarreto@ +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 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 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
Associated Press
14-03-2025
- Business
- Associated Press
Wallbridge Commences Drilling at Martiniere
TORONTO, March 14, 2025 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX: WM, OTCQB: WLBMF) ('Wallbridge' or the 'Company') is pleased to announce that it has commenced drilling at its Martiniere gold project ('Martiniere') located approximately 30 km west of the Company's flagship Fenelon gold project in northwestern Quebec. The Company is continuing to explore the broader mineralized gold system at Martiniere. Exploration is focused along the Bug Lake deformation corridor where drilling in 2024 returned multiple high grade intercepts from three satellite targets located within 100 to 500 metres of the currently defined mineral resource (see Wallbridge news releases dated July 31, 2024 and November 6, 2024). The first hole of the 2025 program is targeting the down-plunge extension of the newly identified Dragonfly zone which has so far been delineated approximately 500 metres along strike and to a vertical depth ranging from 75 to 200 metres below surface. Drilling is also planned to follow up on positive results returned from the Horsefly and Martiniere North target areas. During 2025 the Company plans to complete a total of 10,000 to 15,000 metres of drilling at Martiniere. The first phase of drilling is planned to be completed in May 2025. Based on the results of the first drilling phase, which are expected to be reported by the end of the second quarter, a second phase is planned to commence during the latter half of July. Additionally, generative exploration to identify earlier stage greenfields targets within the Company's 830 km2 regional property position along the Detour-Fenelon gold trend continues. About Wallbridge Mining Wallbridge is focused on creating value through the exploration and sustainable development of gold projects in Quebec's Northern 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. For further information please visit the Company's website at or contact: Cautionary Note Regarding Forward-Looking Information 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; the Company's exploration plans; the future prospects of Wallbridge; statements regarding the results of the PEA; 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 (' 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 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, parameters 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; and 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 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.
Yahoo
13-03-2025
- Business
- Yahoo
Wallbridge Provides Results of 2024 Drilling Program on Detour East Property
TORONTO, March 13, 2025 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX: WM, OTCQB: WLBMF) ('Wallbridge' or the 'Company') is pleased to announce that it has received final assay results from the 2024 exploration drilling program carried out by Agnico Eagle Mines ('Agnico') on the Detour East property located approximately 55 kilometres west of its 100% owned Fenelon Gold Project ('Fenelon') and 25 kilometres east of Agnico's Detour Lake gold mine. Agnico holds an option to earn a 75% interest in the Detour East Property, which is currently 100% owned by Wallbridge. Assay highlights include: 9.95 g/t Au over 0.5 metres in hole DTE-24-55, which drilled a previously untested target located along the Sunday Lake Deformation Zone ('SLDZ') within a few hundred metres of Wallbridge's neighboring Casault property 1.34 g/t Au over 3.0 metres in hole DTE-24-64 plus 1.27 g/t Au over 3.7 metres and 2.57 g/t Au over 2.1 metres in hole DTE-24-65, drilled on a previously identified target located along an accessory structure 2 kilometres north of the SLDZ near the boundary with the Casault property 1.43 g/t Au over 5.0 metres, 5.79 g/t Au over 1.0 metre and 7.02 g/t Au over 3.5 metres in hole DTE-24-66 and 2.2 g/t Au over 2.4 metres in hole DTE-24-68, drilled on the historic Lynx target located along the Massicotte Deformation Zone ('MDZ') 'We believe these positive drill results, in combination with the completion of the airborne geophysical survey, represent another significant step forward toward a new gold discovery in the northern Abitibi region,' commented Brian Penny, Wallbridge CEO. 'Since entering into the Detour East option agreement in late 2020, Agnico has invested approximately $5.5 million into exploring the property, with approximately $2.0 million of qualified expenditures remaining in order to acquire an initial 50% interest in the property. We look forward to continued positive exploration results at Detour East during 2025,' concluded Mr. Penny. The 2024 exploration program at Detour East was conducted in two phases. The first involved the completion of a property-wide airborne Mobile Magnetotellurics (MT) geophysical survey totaling 1,923 line-kilometres to map bedrock lithology, structure and possible alteration and mineralization concealed beneath the extensive surficial overburden cover characteristic of the region. The results of the MT survey were used to identify prospective geologic and geophysical targets in proximity to the regional scale SLDZ, MDZ, and interpreted accessory fault structures as they extend across the northern and southern portions of the property. The second phase involved the completion of a 14-hole diamond drilling program totaling 6,475 metres. Significant brittle-ductile style structural deformation hosting localized gold mineralization was intersected at multiple targets, confirming the locations of the main SLDZ and MDZ structures and accessory fault structures. Of the 14 holes drilled, 9 intercepted gold mineralization that may warrant further drilling. Gold mineralization occurs in association with quartz-sulfide and quartz-carbonate veining and breccia fillings. Additional details from the 2024 drilling program are provided in the summary table below: Detour East Gold Project: 2024 Drill Assay Highlights Drill Hole From(m) To(m) Length(m) Au(g/t) Targeted Zone DTE-24-55 198.0 198.5 0.5 9.95 SLDZ DTE-24-56 234.0 236.0 2.0 0.53 SLDZ DTE-24-57 No significant assays reported MDZ DTE-24-58 No significant assays reported MDZ DTE-24-59 No significant assays reported MDZ DTE-24-60 231.0 233.0 2.0 0.50 MDZ DTE-24-61 No significant assays reported MDZ DTE-24-62 102.6 103.6 1.0 2.26 MDZ 299.0 300.0 1.0 1.29 DTE-24-63 118.0 118.9 0.9 1.85 MDZ DTE-24-64 97.0 98.0 1.0 1.18 SLDZ 188.0 194.3 6.3 0.72 223.0 226.5 3.5 0.45 251.0 253.0 2.0 0.75 267.0 270.5 3.5 0.87 431.0 434.0 3.0 1.34 DTE-24-65 183.3 187.0 3.7 1.27 SLDZ 209.8 211.9 2.1 2.57 DTE-24-66 87.0 92.0 5.0 1.43 MDZ 115.0 116.0 1.0 5.79 123.0 126.5 3.5 7.02 129.2 130.1 0.9 1.58 DTE-24-67 No significant assays reported MDZ DTE-24-68 88.0 89.0 1.0 1.25 MDZ 93.5 96.3 2.8 0.70 124.5 126.9 2.4 2.20 132.3 137.7 5.4 0.57 Assay results are presented in summary format as reported by Agnico to Wallbridge. As these are exploration results, accurate estimation of true interval widths have not been determined. Links to a drill hole location map and an example cross-section for drill holes reported in this news release are provided here: Detour East Project: 2024 Drill Hole Location Map & Cross-Sections The Detour East property is a 231 km2 claim block that comprises part of the Company's 830 km2 Detour-Fenelon Gold Project land package. It covers approximately 20 km of the SLDZ and approximately 15 km of the MDZ as they extend east from the Québec-Ontario border. Under terms of the Detour East option agreement, Agnico has the option to acquire an initial 50% ownership interest in the property by funding expenditures of $7.5 million by November 23, 2025. Upon Agnico exercising its option to earn the initial 50% interest, a joint venture will be formed and Agnico will have a second option to earn an additional 25% interest in the property by completing an additional $27.5 million in qualified work expenditures within 5 years of entering into the joint venture agreement, for a total undivided 75% interest in the property. Agnico is the project operator during the full term of the option period. There is a NSR royalty of 2%, relating to the entirety of the property, payable to a former owner, which may be repurchased at any time for $1.0 million for the first 50% of the NSR interest and $2.0 million for the remainder. Quality Assurance / Quality Control Agnico Eagle Mines Limited 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 ALS Minerals in Timmins, Ontario for sample preparation. Samples are logged in the tracking system, weighed, dried, and finely crushed to better than 70% passing a 2 mm screen per preparation code CRU-31. A split of up to 500 g is taken using a Boyd rotary splitter and pulverized to better than 85% passing a 75 µm screen per code PUL-32m. A 200g split is sent to ALS Minerals in Vancouver for analysis. Samples are assayed for gold using fire assay techniques on a 50 g sample with atomic absorption spectroscopy finish (Au-AA24). Samples with >10 g/t Au are reanalyzed with a gravimetric finish (Au-GRA22). Samples containing visible gold are analyzed using a screen metallics procedure and followed with a silica wash of equipment per request by Exploration personnel. A high-grade standard is placed before the sample with visible gold within the previous 10 samples and a blank sample is inserted immediately after the sample with visible gold. ALS Minerals 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, (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 Québec's Northern 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 kilometers 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. For further information please visit the Company's website at or contact: Brian Penny, CPA, CMACEOEmail: bpenny@ +1 416 716 8346 Tania Barreto, CPIRDirector Investor RelationsEmail: tbarreto@ +1 289 819 3012 The 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: exploration by Agnico or the Company on the Detour East property; the Company's exploration plans; the future prospects of Wallbridge; statements regarding the results of the PEA; 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 ('') at the Fenelon and Martiniere properties (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, parameters 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; and 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 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 Mining Detour – Fenelon Gold Trend Properties Detour East Property – 2024 Drill Hole Locations Hole ID NorthingUTM_N EastingUTM_E Elevation(masl) Depth(m) Azimuth(Degrees) Dip(Degrees) Hole ID NorthingUTM_N EastingUTM_E Elevation(masl) Depth(m) Azimuth(Degrees) Dip(Degrees) DTE-24-55 5536321 624700 252 564 320 52 DTE-24-62 5533178 616235 244 510 200 52 DTE-24-56 5537731 621743 252 409 220 52 DTE-24-63 5533306 615975 259 450 220 52 DTE-24-57 5532842 618184 255 447 190 52 DTE-24-64 5540603 626990 261 510 172 52 DTE-24-58 5532553 619418 254 540 20 52 DTE-24-65 5540422 627011 261 402 172 52 DTE-24-59 5533335 620237 255 600 205 52 DTE-24-66 5532861 617812 255 402 0 58 DTE-24-60 5533069 620580 255 489 180 52 DTE-24-67 5532861 617812 255 300 0 76 DTE-24-61 5532923 621202 256 552 200 52 DTE-24-68 5532861 617812 255 300 340 58 Note: Coordinate system UTM NAD 83, Zone 17 Wallbridge Mining - Detour East Property – Agnico Eagle Mines Option2024 Drill Hole LocationsWallbridge Mining - Detour East Property – Agnico Eagle Mines OptionCross Section – Drill Holes DTE-24-64 & 65, DTE-18-42AWallbridge Mining - Detour East Property – Agnico Eagle Mines OptionCross Section – Drill Holes DTE-24-66, 67 & 68 Photos accompanying this announcement are available at: in to access your portfolio
