Wallbridge Mining (TSX:WM) Reports New Assay Results That Expand Gold Zones at Martiniere Gold Property

Wallbridge Mining (TSX:WM) has announced new assay results from its Martiniere Gold Property. The results validate resource growth at the property, located 30 kilometres and within trucking distance of the company’s Fenelon Gold Project. Fenelon is located on the Detour-Fenelon Gold trend in Northern Abitibi, Quebec.

Figure 1. Detour Fenelon Gold Trend

Source: Wallbridge Mining

Attila Péntek, Wallbridge’s Vice President of exploration, commented in a press release: “Our 2021-2022 exploration program at Martiniere has provided essential geologic information on the orientation of the gold zones and their host rocks and has demonstrated resource expansion potential in multiple directions. We see excellent opportunities to add to the existing resource, including at shallow depths, as in hole MR-22-029, and the deposit remains largely untested below 400 metres from the surface. We will use the remainder of the year to incorporate this new data, along with pending assays from three more exploration holes, into our geology models, in preparation for an updated Mineral Resource Estimate and planning for our 2023 exploration program at the property.”

The results included 12.27 g/t Au over 5.60 metres in holes MR-22-026, extending the Martiniere West zone along strike by over 400 metres to the southwest; 4.75 g/t Au over 5.50 metres in hole MR-22-020, extending the Martiniere West zone down-plunge by over 300 metres; and 2.50 g/t Au over 17.35 metres, near-surface in hole MR-22-029 in the area between the Martiniere West and Central zones.

The property contains 544,000 ounces of indicated gold resources along with 256,000 ounces of inferred gold resources. Martiniere holds all of this within a large mineralized footprint spanning four square kilometres. A lot of potential remains for the deposit as drilling has only been done to a depth of 400 metres, with mineralized shoots remaining open down-plunge.

Highlights from the drill results are as follows: 

Martiniere West Zone
MR-22-026 12.27 g/t Au over 5.60 metres, including
  42.55 g/t Au over 1.50 metres;
   
MR-22-020 4.75 g/t Au over 5.50 metres, including
  8.70 g/t Au over 3.00 metres;
   
MR-22-013 10.46 g/t Au over 1.80 metres;
   
Martiniere Central Zone
MR-22-029 2.50 g/t Au over 17.35 metres, including
  8.34 g/t Au over 3.80 metres;
   
MDE-21-338 0.80 g/t Au over 21.50 metres, including
  7.48 g/t Au over 1.10 metres;
  These intersections are in addition to an interval of 46.75 g/t Au over 2.40 metres announced previously in the Wallbridge press release dated February 2, 2022.
   
MR-22-033 20.48 g/t Au over 1.50 metres;
   
MR-22-035 0.92 g/t Au over 25.50 metres, including
  4.95 g/t Au over 3.00 metres; 
  1.12 g/t Au over 13.50 metres;
  1.65 g/t Au over 13.25 metres;
   
MR-22-012 2.64 g/t Au over 9.05 metres, including
  9.68 g/t Au over 1.70 metres;
   
Bug Lake North
MR-22-027 1.19 g/t Au over 15.70 metres;
   
MR-22-034 15.74 g/t Au over 1.50 metres;
   
MDE-21-339 5.47 g/t Au over 3.00 metres;

Assay results from 40 drill holes of the 2021-2022 Martiniere drill program are reported in the Table and Figures below. Further assays results are pending for three drill holes of the 2022 program. All figures and a table with drill hole information of recently completed holes are posted on the Company’s website under “Current Program”.

Figure 2. Martiniere Gold, Plan View

Source: Wallbridge Mining

Figure 3. Martiniere Gold, Martiniere West Trend Long Section

Source: Wallbridge Mining

 

Table 1. Regional Gold Property, Recent Drill Assay Highlights (1)
Drill Hole From To Length Au Au Cut(2) VG(3) Zone/Corridor
  (m) (m) (m) (g/t) (g/t)    
MDE-21-332 267.50 276.00 8.50 0.68 0.68   Bug Lake North
MDE-21-332 457.00 464.15 7.15 1.89 1.89   Bug Lake North
Including… 458.00 459.00 1.00 7.80 7.80   Bug Lake North
MDW-21-335 89.50 91.00 1.50 3.66 3.66   Martiniere Central
MDE-21-338 182.00 203.50 21.50 0.80 0.80   Martiniere Central
Including… 182.00 183.10 1.10 7.48 7.48   Martiniere Central
MDE-21-338 572.00 583.00 11.00 0.54 0.54   Martiniere Central
MDE-21-338 863.70 864.55 0.85 7.80 7.80   Martiniere Central
MDE-21-339 389.00 392.00 3.00 5.47 5.47   Bug Lake North
Including… 390.00 391.00 1.00 14.54 14.54   Bug Lake North
MR-22-001 No Significant Mineralization (4)
MR-22-002 No Significant Mineralization (4)
MR-22-003 227.50 229.00 1.50 3.67 3.67   Martiniere West
MR-22-003 260.00 271.00 11.00 1.27 1.27   Martiniere West
Including… 260.00 264.30 4.30 2.65 2.65   Martiniere West
MR-22-003 375.70 388.00 12.30 1.02 1.02   Martiniere West
Including… 380.55 385.65 5.10 1.81 1.81   Martiniere West
MR-22-003 420.40 426.50 6.10 1.49 1.49   Martiniere West
Including… 421.00 423.65 2.65 2.92 2.92   Martiniere West
MR-22-004 43.50 44.70 1.20 4.32 4.32   Martiniere West- Extension
MR-22-005 158.85 177.70 18.85 0.63 0.63   Martiniere West- Extension
Including… 172.80 177.70 4.90 1.09 1.09   Martiniere West- Extension
MR-22-006 403.80 404.80 1.00 13.59 13.59   Martiniere West
MR-22-006 452.30 454.50 2.20 4.55 4.55 VG Martiniere West
Including… 453.00 453.50 0.50 15.24 15.24 VG Martiniere West
MR-22-006 530.00 541.15 11.15 0.72 0.72   Martiniere West
MR-22-007 No Significant Mineralization (4)
MR-22-008 575.40 576.30 0.90 5.64 5.64   Martiniere West
MR-22-009 213.00 229.00 16.00 0.79 0.79   Martiniere West
Including… 226.00 229.00 3.00 2.74 2.74   Martiniere West
MR-22-010 203.60 215.75 12.15 0.45 0.45   Bermuda
MR-22-011 475.00 476.00 1.00 12.10 12.10   Martiniere West- Extension
MR-22-012 427.70 436.75 9.05 2.64 2.64 VG Martiniere Central
Including… 432.90 434.60 1.70 9.68 9.68 VG Martiniere Central
MR-22-013 178.50 180.30 1.80 10.46 10.46   Martiniere West- Extension
MR-22-014 224.80 229.15 4.35 3.04 3.04   Martiniere West
Including… 227.50 229.15 1.65 7.24 7.24   Martiniere West
MR-22-015 112.25 119.75 7.50 1.52 1.52   Martiniere West- Extension
MR-22-015 295.00 307.00 12.00 0.50 0.50   Martiniere West- Extension
MR-22-016 35.00 60.25 25.25 0.60 0.60   Bermuda
MR-22-017 464.00 467.00 3.00 1.72 1.72   Martiniere West- Extension
MR-22-018 403.90 407.00 3.10 3.67 3.67   Martiniere West- Extension
Including… 406.00 407.00 1.00 10.39 10.39   Martiniere West- Extension
MR-22-019 No Significant Mineralization (4)
MR-22-020 207.50 218.50 11.00 0.74 0.74   Martiniere West
MR-22-020 413.85 415.15 1.30 6.03 6.03   Martiniere West
MR-22-020 538.50 544.00 5.50 4.75 4.75   Martiniere West
Including… 541.00 544.00 3.00 8.70 8.70   Martiniere West
MR-22-021 233.50 247.00 13.50 0.85 0.85   Martiniere Central
Including… 233.50 238.00 4.50 1.20 1.20   Martiniere Central
MR-22-021 513.90 515.30 1.40 7.62 7.62   Martiniere Central
MR-22-021 529.50 532.70 3.20 2.75 2.75   Martiniere Central
MR-22-022 156.15 157.20 1.05 6.70 6.70   Martiniere Central
MR-22-023A No Significant Mineralization (4)
MR-22-024 458.15 462.00 3.85 1.67 1.67   Martiniere Central
MR-22-025 250.00 256.00 6.00 1.73 1.73   Martiniere Central
Including… 253.00 254.00 1.00 7.58 7.58   Martiniere Central
MR-22-025 274.00 283.00 9.00 1.62 1.62   Martiniere Central
Including… 274.00 275.05 1.05 9.55 9.55   Martiniere Central
MR-22-025 392.05 392.70 0.65 22.60 22.60   Martiniere Central
MR-22-026 357.90 363.50 5.60 12.27 10.25   Martiniere West- Extension
Including… 360.50 362.00 1.50 42.55 35.00   Martiniere West- Extension
MR-22-027 473.00 478.90 5.90 1.77 1.77   Bug Lake North
MR-22-027 504.50 520.20 15.70 1.19 1.19   Bug Lake North
Including… 519.00 520.20 1.20 8.92 8.92   Bug Lake North
MR-22-028 No Significant Mineralization (4)
MR-22-029 62.65 80.00 17.35 2.50 2.50   Martiniere Central
Including… 68.50 72.30 3.80 8.34 8.34   Martiniere Central
MR-22-030 428.50 430.00 1.50 9.00 9.00   Bug Lake South
MR-22-031 No Significant Mineralization (4)
MR-22-032 No Significant Mineralization (4)
MR-22-033 173.50 176.50 3.00 1.72 1.72   Martiniere Central
MR-22-033 464.50 466.00 1.50 20.48 20.48   Martiniere Central
MR-22-034 124.50 126.00 1.50 15.74 15.74   Bug Lake North
MR-22-034 199.00 200.00 1.00 5.60 5.60   Bug Lake North
MR-22-035 151.00 176.50 25.50 0.92 0.92   Martiniere Central
Including… 173.50 176.50 3.00 4.95 4.95   Martiniere Central
MR-22-035 209.50 223.00 13.50 1.12 1.12   Martiniere Central
Including… 221.00 223.00 2.00 3.97 3.97   Martiniere Central
MR-22-035 294.75 308.00 13.25 1.65 1.65   Martiniere Central
Including… 294.75 296.00 1.25 6.46 6.46   Martiniere Central
MR-22-037 No Significant Mineralization (4)
(1) Table includes only assay results received since the latest press release dated February 02, 2022.
(2) Au cut at: 0.35 g/t Au.
(3) Intervals containing visible gold (“VG”).
(4) Metal factor of at least 5 g/t*m and minimum weighted average composite grade of 0.40 g/t Au within the 2021 MRE open pit shell and 2.4 g/t Au for outside open pit shell.

Note: True widths are estimated to be 50-80% of the reported core length intervals.

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I cover the mining industry and the best mining stocks around the world. I write about industry news, individual companies, projects, management, and profiles on industry leaders.

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