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Wallbridge Mining Company Limited (WM.TO)

Toronto - Toronto Real Time Price. Currency in CAD
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Previous Close0.8300
Open0.8900
Bid0.8300 x 0
Ask0.8400 x 0
Day's Range0.8300 - 0.8600
52 Week Range0.3300 - 1.3500
Volume734,379
Avg. Volume2,074,147
Market Cap654.455M
Beta (5Y Monthly)2.06
PE Ratio (TTM)N/A
EPS (TTM)-0.0190
Earnings DateMay 20, 2016 - May 24, 2016
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est1.17
  • Wallbridge Intersects 9.06 g/t Gold Over 40.05 Metres, including 16.33 g/t Gold Over 19.85 Metres in High-Grade Core of Lower Tabasco Zone
    GlobeNewswire

    Wallbridge Intersects 9.06 g/t Gold Over 40.05 Metres, including 16.33 g/t Gold Over 19.85 Metres in High-Grade Core of Lower Tabasco Zone

    Figure 1 Fenelon Gold, Tabasco Long Section Figure 2 Fenelon Gold, FA-19-086 Wedges, Plan View and Cross Section Figure 3 Fenelon Gold, Cross Section 9975 Figure 4 Fenelon Gold, Cross Section 10200 Figure 5 Fenelon Gold, Cross Section 10275 Figure 6 Fenelon Gold, Cross Section 10350TORONTO, Oct. 19, 2020 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX:WM) (“Wallbridge” or the “Company”) is pleased to report the first assay results from the ongoing 15-40 metre spaced infill drilling program to better define the high-grade core of the Lower Tabasco zone on its 100%-owned Fenelon Gold Property (“Fenelon” or the “Property”). Results of FA-19-086-W1, the first of five wedge cuts correlate well with the results of FA-19-086.FA-19-086-W1 9.06 g/t Au (8.82 g/t Au Cut) over 40.05 metres, including  4.74 g/t Au over 7.20 metres and  16.33 g/t Au (15.84 g/t Au Cut) over 19.85 metres, which further includes 38.67 g/t Au (37.45 g/t Au Cut) over 7.90 metres Note: Further assay results are pending from this drill hole. Drill hole composites reported as "cut" contain higher grade samples that have been cut to 140 g/t Au. These results confirm the presence of high-grade mineralization 25 metres above the original FA-19-086 intersection of 22.73 g/t Au over 48.01 metres including 32.22 g/t Au over 22.87 metres (see Wallbridge Press Release dated December 3rd, 2019) and mirror the grade distribution in FA-19-086 (see Figs. 1 and 2). A comparison of the two intersections is shown in Table 1 below.Table 1. Comparison of Tabasco zone intersections in hole FA-19-086 and wedge cut FA-086-W1  FA-19-086 Original HoleFA-19-086-W1, Wedge Cut 25 metres above  From (m)To (m)Length (m)Au (g/t)Au Cut (g/t)From (m)To (m)Length (m)Au (g/t)Au Cut (g/t) Total Intersection595.67643.6848.0122.7318.87603.50643.5540.059.068.82 Including…595.67606.5810.9130.7830.32603.50610.707.204.744.74 And...606.58616.379.790.810.81610.70623.7013.000.340.34 And...616.37639.2422.8732.2224.33623.70643.5519.8516.3315.84 Which includes…616.37625.509.1368.8149.06635.65643.557.9038.6737.45 “Given the expected variability of this style of high-grade gold mineralization, the degree of consistency in terms of style of mineralization and grade distribution shown by these two intersections 25 metres apart could hardly be better,” stated Attila Péntek, Vice President Exploration of Wallbridge.“Our aggressive, 50 to 100-metre spaced step-out drilling has been successful in expanding the footprint and size potential of the Fenelon Gold System. In order to deliver a robust maiden resource estimate, we are now increasingly doing more in-fill drilling at much tighter, 15 to 40-metre drill spacing to confirm continuity and grade. The visual results of the five wedge cuts completed around hole FA-19-086, and today’s assays from the first wedge cut have demonstrated excellent continuity in Tabasco’s high-grade domain and we are now continuing in-fill drilling in other parts of the Tabasco and Cayenne zones. This tighter spaced drilling has also led to the initial modelling of the Jeremie Fault which is now recognized as an important structural control for gold deposition in the Fenelon Gold System.”Additional in-fill and step-out results on from the Tabasco and Cayenne zones are as follows:FA-20-159-W12.77 g/t Au over 36.00 metres in the Tabasco Zone, including  6.32 g/t Au over 2.00 metres and  22.38 g/t over 3.00 metres; and  45.10 g/t over 1.00 m in the Cayenne Zone (see Figs. 1 and 4);    FA-20-1551.78 g/t Au over 49.50 metres, including  9.24 g/t Au over 7.50 metres in the Cayenne Zone (see Figs. 1 and 4);    FA-20-1533.11 g/t Au over 15.70 metres, including  5.87 g/t Au over 5.00 metres in the Tabasco Zone (see Figs. 1 and 6);    FA-20-1611.01 g/t Au over 42.00 metres, including  4.48 g/t Au over 4.50 metres in the Tabasco Zone (see Figs. 1 and 3); 2020 Drilling Program UpdateTo September 30, 2020, approximately 75,000 metres of the planned fully-funded 100,000-metre 2020 drilling program have been completed. Currently, five of six drill rigs are focusing on expanding the Tabasco-Cayenne-Area 51 mineralization on the original Fenelon Gold Property, carrying out a combination of 50-100-metre step-outs and tighter-spaced in-fill drilling. The sixth drill rig is actively exploring the connection of the Tabasco-Cayenne-Area 51 gold system to the Ripley-Reaper area and the Sunday Lake Deformation Zone. Consideration has been given to increasing the scope and size of the planned 2020 and 2021 drilling programs to be able to fully assess the ultimate size potential of this rapidly growing gold system (see Wallbridge Press Release dated Oct 13, 2020).Final assay results of eight (FA-20-144, -146, -154, -155, -159-W1, -161, -167, and -171) and partial assay results of four (FA-19-086-W1, FA-20-140, -153, and -176) surface drill holes of the 2020 exploration drill program are reported in the Table and s below. All figures and a table with drill hole information of recently completed holes are posted on the Company’s website under “Current Program” at https://www.wallbridgemining.com/s/fenelon.asp.Figure 1. Fenelon Gold, Tabasco Long Section https://www.globenewswire.com/NewsRoom/AttachmentNg/2eab5bf0-067b-4f78-8977-39e2ac83e947Figure 2. Fenelon Gold, FA-19-086 Wedges, Plan View and Cross Section https://www.globenewswire.com/NewsRoom/AttachmentNg/0f9c0e44-af2d-41bc-86e7-ed04cb73ad23Figure 3. Fenelon Gold, Cross Section 9975 https://www.globenewswire.com/NewsRoom/AttachmentNg/38d10dc4-d61f-40a5-ab2c-63ff9d7dd7d3Figure 4. Fenelon Gold, Cross Section 10200 https://www.globenewswire.com/NewsRoom/AttachmentNg/cb8a8cf3-f2e7-4fac-9985-04bf423c5340Figure 5. Fenelon Gold, Cross Section 10275 https://www.globenewswire.com/NewsRoom/AttachmentNg/f46f944d-10fb-47e4-bf64-80cffdfd9d4cFigure 6. Fenelon Gold, Cross Section 10350 https://www.globenewswire.com/NewsRoom/AttachmentNg/1ddf84fb-c187-4623-b30b-0514470c1bcfTable 2. Wallbridge Fenelon Gold Property 2020 Drill Assay Highlights (1) Drill HoleFrom (m)To (m)Length (m)Au (g/t)Au Cut(2) (g/t)VG(3)Zone/CorridorSection FA-19-086-W1603.50643.5540.059.068.82VGTabasco10200E Including…603.50610.707.204.744.74VG Tabasco10200E And…623.70643.5519.8516.3315.84VGTabasco10200E Which includes…635.65643.557.9038.6737.45VGTabasco10200E FA-20-140953.80968.5014.701.241.24 Tabasco10275E Including…953.80955.952.154.004.00 Tabasco10275E And…966.00968.502.502.782.78 Tabasco10275E FA-20-140991.00996.005.001.261.26 Tabasco10275E FA-20-1401010.501012.001.506.306.30 Tabasco10275E FA-20-1441055.501086.0030.501.211.21VGTabasco10275E Including…1057.001061.004.003.213.21 Tabasco10275E And…1077.001078.001.0015.3715.37VGTabasco10275E FA-20-146915.00918.003.002.722.72 Tabasco10425E FA-20-1531030.301046.0015.703.113.11 Tabasco10350E Including…1041.001046.005.005.875.87 Tabasco10350E Which includes…1041.001042.001.0022.9922.99 Tabasco10350E FA-20-1541133.301164.5031.201.231.23VGTabasco9975E Including…1133.301136.653.352.262.26 Tabasco9975E And…1162.051163.651.6010.0710.07VGTabasco9975E FA-20-155943.00992.5049.501.781.78VGTabasco10200E Including…943.00950.507.509.249.24VGTabasco10200E Which includes…946.00947.201.2050.9050.90VGCayenne10200E And…991.00992.501.507.287.28 Cayenne10200E FA-20-159-W1868.00904.0036.002.772.77VGTabasco10200E Including…873.00875.002.006.326.32 Tabasco10200E And…886.00889.003.0022.3822.38VGTabasco10200E FA-20-159-W1916.00917.501.507.447.44 Tabasco10200E FA-20-159-W1980.00982.002.003.453.45 Cayenne10200E FA-20-159-W11010.501012.001.503.563.56 Cayenne10200E Table 2. Wallbridge Fenelon Gold Property 2020 Drill Assay Highlights (1) Drill HoleFrom (m)To (m)Length (m)Au (g/t)Au Cut(2) (g/t)VG(3)Zone/CorridorSection FA-20-159-W11023.001024.001.0045.1045.10 Cayenne10200E FA-20-1611041.001083.0042.001.011.01VGTabasco9975E Including…1060.501074.0013.502.192.19VGTabasco9975E Which includes…1069.501074.004.504.484.48VGTabasco9975E FA-20-167997.70998.200.5011.5111.51VGCayenne9750E FA-20-1671006.501007.000.5011.6011.60VGCayenne9750E FA-20-1711028.301029.000.709.469.46 Tabasco9750E FA-20-1761144.001150.456.451.361.36VGTabasco10200E FA-20-1761159.001168.009.001.061.06 Tabasco10200E FA-20-1761171.501176.555.051.131.13 Tabasco10200E (1) Table includes only assay results received since the latest press release on Tabasco-Cayenne results dated August 11, 2020. (2) Higher grade assays have been cut to 140 g/t Au. (3) Intervals containing visible gold ("VG"). Note: True widths are estimated to be 50-80% of the reported core length intervals.Assay QA/QC and Qualified PersonsDrill core samples from the ongoing drill program at Fenelon are cut and bagged either on site or by contractors and transported to either SGS Canada Inc. or ALS Canada Ltd. for analysis. Samples, along with standards, blanks and duplicates included for quality assurance and quality control, were prepared and analyzed at SGS Canada Inc. or ALS Canada Ltd. laboratories. Samples are crushed to 90% or 95% less than 2mm. A 1kg riffle split is pulverized to >95% passing 106 microns or 85% passing 75 microns. 50g samples are analyzed by fire assay and AAS. At SGS, samples >10g/t Au are automatically analyzed by fire assay with gravimetric finish or screen metallic analysis. To test for coarse free gold and for additional quality assurance and quality control, Wallbridge requests screen metallic analysis for samples containing visible gold. These and future assay results may vary from time to time due to re-analysis for quality assurance and quality control.The Qualified Person responsible for the technical content of this press release is Christopher Kelly, P.Geo., B.Sc., Project Geologist of Wallbridge.About Wallbridge MiningWallbridge is currently advancing the exploration and development of its 100%-owned Fenelon Gold property, which is located along the Detour-Fenelon Gold Trend, an emerging gold belt in northwestern Québec with an ongoing, fully-funded 100,000-metre exploration drill program in 2020.The recent acquisition of Balmoral Resources has secured for Wallbridge a buffer of several kilometres surrounding its rapidly expanding Fenelon discovery providing room for growth, as well as future mine development flexibility. This acquisition has also significantly expanded Wallbridge's land holdings in Québec along the Detour-Fenelon Gold Trend (from 10.5 km2 to over 900.0 km2), improving Wallbridge's potential for further discoveries for over 90-kilometre strike in this under-explored belt.Wallbridge is also the operator of, and a shareholder in, Lonmin Canada Inc., a privately-held company with a large portfolio of nickel, copper, and platinum-group metals (PGM) projects in Ontario's Sudbury Basin.This news release has been authorized by the undersigned on behalf of Wallbridge Mining Company Limited.For further information please visit the Company's website at www.wallbridgemining.com or contact:Wallbridge Mining Company Limited Marz Kord, P. Eng., M. Sc., MBA President & CEO Tel: (705) 682-9297 ext. 251 Email: mkord@wallbridgemining.comVictoria Vargas, B.Sc. (Hon.) Economics, MBA Investor Relations Advisor Email: vvargas@wallbridgemining.comThis press release may contain certain “forward-looking statements” within the meaning of applicable Canadian securities legislation relating to, among other things, the operations of Wallbridge Mining Company Limited (“Wallbridge” or “Company”) and the environment within which it operates. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding future plans and objectives of Wallbridge, future opportunities and anticipated goals, the company’s portfolio, treasury, management team, timetable to mineral resource estimation, permitting and the prospective mineralization of the properties, are forward-looking statements that involve various risks, assumptions, estimates and uncertainties. Generally, forward-looking information can be identified by the use of forward-looking terminology 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”. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predicted outcomes could differ materially from those contained in such statements. These risks and uncertainties include, but are not limited to, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other required approval, the actual results of current exploration activities, fluctuations in prices of commodities, fluctuations in currency markets, actual results of additional exploration and development activities at the Company’s projects, capital expenditures, the availability of any additional capital required to advance projects, accidents, or pandemic interruptions.Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. These statements reflect the current internal projections, expectations or beliefs of the Company and are based on information currently available to the Company.The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. The Company believe that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon by investors as actual results may vary.Risks and uncertainties about Wallbridge’s business are more fully discussed in the disclosure material filed with the securities regulatory authorities in Canada and available on SEDAR under the Company’s profile at www.sedar.com. Readers are urged to read these materials and should not place undue reliance on the forward-looking statements contained in this press release.Covid-19 - Given the rapidly evolving nature of the Coronavirus (COVID-19) pandemic, Wallbridge is actively monitoring the situation in order to continue to maintain as best as possible the activities while striving to protect the health of its personnel. Wallbridge' activities will continue to align with the guidance provided by local, provincial and federal authorities in Canada. The company has established measures to continue normal activities while protecting the health of its employees and stakeholders. Depending on the evolution of the virus, measures may affect the regular operations of Wallbridge and the participation of staff members in events inside or outside Canada.

  • Wallbridge Continues to Define and Expand Area 51 Mineralization in the Fenelon Gold System
    GlobeNewswire

    Wallbridge Continues to Define and Expand Area 51 Mineralization in the Fenelon Gold System

    Fenelon Gold, Plan View Figure 1. Fenelon Gold, 9750_E Cross Section Figure 2. Fenelon Gold, 9900 Cross Section Figure 3. Fenelon Gold, 9975 Cross Section Figure 4. Fenelon Gold, 10050 Cross Section Figure 5. Fenelon Gold, 10200 Cross Section Figure 6. Fenelon Gold, 10275 Cross Section Figure 7. Fenelon Gold, 10350 Cross Section Figure 8. Fenelon Gold, 10425 Cross Section Figure 9.TORONTO, Oct. 14, 2020 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX:WM) (“Wallbridge” or the “Company”) is pleased to report continuing positive drill results from Area 51 on Wallbridge’s 100%-owned Fenelon Gold Property (“Fenelon” or the “Property”). Results of the 75-metre step-out drilling have further extended the Area 51 gold zones to the west and southeast, while in-fill drilling in Area 51 continues to define the distribution of gold mineralization consisting of numerous narrow, high grade veins within vein network zones tens of metres in width. “Our systematic step-out drilling is now revealing strong Area 51-style mineralization continuing to the west on the new drill section 9750E,” said Attila Péntek, Vice President, Exploration of Wallbridge. “The mineralization is wide open to the west towards the intersection in FA-20-160 approximately 400 metres away. Similarly, the intersection of the newly discovered Hubble zone on section 10425E provides continuity in the southeast and a possible connection to the Area 51 mineralization recently discovered all the way to the Sunday Lake Deformation Zone.”Highlight intersections from step-out drilling to the west on Section 9750E (see Figs. 1 and 2) include: * 2.62 g/t Au over 25.00 metres, including      12.48 g/t Au over 4.80 metres in FA-20-167 * 5.02 g/t Au over 7.45 metres, including      9.73 g/t Au over 3.50 metres in FA-20-171 * 1.81 g/t Au over 55.00 metres, including      3.73 g/t Au over 7.60 metres and      24.91 g/t Au over 2.00 metres also in FA-20-171Additional assay results from FA-20-160, an exploration hole drilled 400 metres west of section 9750E (previously reported as 106 g/t Au over 0.60 metres in Wallbridge Press Release dated Sept 08, 2020), now confirm a total intersection of 13.03 g/t Au over 5.35 metres, including the 106 g/t Au over 0.60 metres reported previously (see Fig. 1).Highlight intersections from step-out drilling to the east on Section 10425E (see Figs. 1 and 9) include: * 1.13 g/t Au over 43.50 metres, including      27.08 g/t Au over 1.00 metres in FA-20-146 * 2.45 g/t Au over 11.35 metres, including      4.60 g/t Au over 4.55 metres in the newly discovered Area 51 Hubble Zone in FA-20-153Highlight intersections from in-fill and expansion drilling on Sections 9900E to 10350E include: * 1.53 g/t Au over 120.50 metres, including      3.49 g/t Au over 24.00 metres, which includes 9.35 g/t Au over 5.00 metres, and      2.45 g/t Au over 21.50 metres in FA-20-159-W1 (see Figs. 1 and 6) * 1.43 g/t Au over 37.45 metres, including      47.70 g/t Au over 0.60 metres in FA-20-140 (see Figs. 1 and 7) * 1.44 g/t Au over 27.30 metres, including      8.13 g/t Au over 3.85 metres in FA-20-138 (see Figs. 1 and 5) * 4.40 g/t Au over 9.15 metres, including      25.6 g/t Au over 0.65 metres in FA-20-154 (see Figs. 1 and 4) * 10.03 g/t Au over 3.00 metres, including      16.6 g/t Au over 1.50 metres in FA-20-152 (see Figs. 1 and 3)“Our infill drilling in Area 51 continues to show the characteristics of potentially bulk mineable mineralization over large widths with the optionality of selective mining of higher grades from some of the zones,” stated Marz Kord, President and CEO of Wallbridge. “Further infill drilling will increase our understanding of the high-grade domains within the larger mineralized intervals, as we work toward a maiden resource estimate for the Fenelon gold system.”2020 Drilling Program UpdateTo September 30, 2020 approximately 75,000 metres of the planned fully-funded 100,000-metre 2020 drilling program have been completed.  Currently, five of six drill rigs are focusing on expanding the Tabasco-Cayenne-Area 51 mineralization on the original Fenelon Gold Property, carrying out a combination of 50-100-metre step-outs and tighter-spaced in-fill drilling. The sixth drill rig is active on exploring the connection of the Tabasco-Cayenne-Area 51 gold system to the Ripley-Reaper Area and the Sunday Lake Deformation Zone. Consideration has been given to increase the scope and size of the planned 2020 and 2021 drilling programs to be able to fully assess the ultimate size potential of what is a rapidly growing gold system (see Wallbridge Press Release dated Oct 13, 2020).Partial assay results of 16 surface drill holes (FA-20-138, -140, -144, -146, -147, -152, -153, 154, -155, -159, -159-W1, -160, -161, -167, -168, and -171) of the 2020 exploration drill program are reported in the Tables and Figures below. All figures and a table with drill hole information of recently completed holes are posted on the Company’s website under “Current Program” at https://www.wallbridgemining.com/s/fenelon.asp.Figure 1. Fenelon Gold, Plan View https://www.globenewswire.com/NewsRoom/AttachmentNg/e91505a4-452d-40ab-8d8c-7fee56d4f9b7Figure 2. Fenelon Gold, 9750_E Cross Section https://www.globenewswire.com/NewsRoom/AttachmentNg/a3ca1960-4c41-4491-b520-c06390a950f4 Figure 3. Fenelon Gold, 9900 Cross Section https://www.globenewswire.com/NewsRoom/AttachmentNg/155a585a-29cf-4b36-89a4-ac9920779936Figure 4. Fenelon Gold, 9975 Cross Section https://www.globenewswire.com/NewsRoom/AttachmentNg/d2423fb8-e8b5-4588-bc4d-0688dc989c2cFigure 5. Fenelon Gold, 10050 Cross Section https://www.globenewswire.com/NewsRoom/AttachmentNg/ccd52bec-ba43-41a6-a1be-0393873dbf57Figure 6. Fenelon Gold, 10200 Cross Section https://www.globenewswire.com/NewsRoom/AttachmentNg/9ae9191a-6e75-4e54-828d-af20fd53c950Figure 7. Fenelon Gold, 10275 Cross Section https://www.globenewswire.com/NewsRoom/AttachmentNg/c53d9fdc-8710-42cb-b5d6-5f2cd7a7e94eFigure 8. Fenelon Gold, 10350 Cross Section https://www.globenewswire.com/NewsRoom/AttachmentNg/af33c542-1d03-4b85-bd7e-3e443f1f48b0Figure 9. Fenelon Gold, 10425 Cross Section https://www.globenewswire.com/NewsRoom/AttachmentNg/6659d040-2a4e-48d0-8cb0-140ed90c55a5 Table 1. Wallbridge Fenelon Gold Property 2020 Drill Assay Highlights (1) Drill HoleFromToLengthAuAu Cut (2)VG(3)Zone/CorridorSection  (m)(m)(m)(g/t)(g/t)    FA-20-13888.50115.8027.301.441.44VGArea 51- Titan Zone 310050 Including…96.55100.403.858.138.13VGArea 51- Titan Zone 310050 FA-20-138154.80160.906.101.401.40VGArea 51- Titan Zone 110050 Including…160.20160.900.708.808.80VGArea 51- Titan Zone 110050 FA-20-140622.75660.2037.451.431.43 Area 51- Laika Zone 1 & 210275 Including…643.80644.400.6047.7047.70 Area 51- Laika Zone 1 & 210275 And…646.30654.708.401.411.41 Area 51- Laika Zone 1 & 210275 FA-20-140751.00762.0011.006.806.80 Area 51- Andromeda Zone 210275 Including…751.00753.002.0035.8135.81 Area 51- Andromeda Zone 210275 FA-20-140794.60795.350.759.159.15VGArea 51- Andromeda Zone 110275 FA-20-140817.85822.905.051.861.86 Area 51- Interstellar Zone 310275 Including…821.90822.901.005.315.31 Area 51- Interstellar Zone 310275 FA-20-140840.80841.801.005.815.81 Area 51- Interstellar Zone 310275 FA-20-140860.55861.551.009.549.54 Area 51- Interstellar Zone 210275 FA-20-144345.85347.501.654.794.79 Area 51- Hubble Zone10350 FA-20-144491.50503.5012.001.121.12 Area 51- Orion Zone 310350 Including…502.00503.501.504.344.34 Area 51- Orion Zone 310350 FA-20-144820.00862.5042.501.091.09VGArea 51- Andromeda Zone 3 & 410275 Including…847.00849.002.009.139.13VGArea 51- Andromeda Zone 3 & 410275 And…862.00862.500.5017.8317.83VGArea 51- Andromeda Zone 3 & 410275 FA-20-146227.70235.507.801.331.33VGArea 51- Hubble Zone 10425 Table 1. Wallbridge Fenelon Gold Property 2020 Drill Assay Highlights (1) Drill HoleFromToLengthAuAu Cut (2)VG(3)Zone/CorridorSection  (m)(m)(m)(g/t)(g/t)    FA-20-146686.50730.0043.501.131.13VGArea 51- Titan 1 & Laika Zone 310425 Including…713.50714.501.0027.0827.08VGArea 51- Titan 1 & Laika Zone 410425 FA-20-146830.50832.001.504.324.32 Area 51- Andromeda Zone 210425 FA-20-147No Significant Mineralization* FA-20-15288.5091.503.0010.0310.03 Area 51- Orion Zone9900 Including…88.5090.001.5016.6016.60 Area 51- Orion Zone9900 FA-20-153246.80258.1511.352.452.45VGArea 51- Hubble Zone10425 Including…249.55254.104.554.604.60VGArea 51- Hubble Zone10425 FA-20-153278.50279.751.252.912.91 Area 51- Hubble Zone10425 FA-20-153569.10583.0013.901.461.46VGArea 51- Orion Zone 2 & 310425 Including…581.20583.001.806.466.46VGArea 51- Orion Zone 2 & 310425 FA-20-153708.00709.901.904.674.67 Area 51- Titan Zone 310425 FA-20-154996.201005.359.154.404.40 Area 51- Enterprise Zone 2 & 39975 Including…996.75999.502.757.007.00 Area 51- Enterprise Zone 2 & 39975 And…1004.701005.350.6525.6025.60 Area 51- Enterprise Zone 2 & 39975 FA-20-155467.50469.001.506.796.79 Area 51- Titan 1 & Laika Zone 310200 FA-20-155483.00490.007.000.970.97 Area 51- Laika Zone 210200 FA-20-155505.00507.002.002.292.29VGArea 51- Laika Zone 210200 FA-20-155535.00594.1559.151.061.06VGArea 51- Laika 1 & Andromeda 210200 Including…547.00559.0012.001.971.97 Area 51- Laika 1 & Andromeda 410200 And...572.50594.1521.651.451.45VGArea 51- Andromeda Zone 3 10200 FA-20-155649.00665.5016.501.061.06 Area 51- Andromeda Zone 110200 Table 1. Wallbridge Fenelon Gold Property 2020 Drill Assay Highlights (1) Drill HoleFromToLengthAuAu Cut(2)VG(3)Zone/CorridorSection  (m)(m)(m)(g/t)(g/t)              Including…653.40655.001.608.538.53 Area 51- Andromeda Zone 110200 FA-20-159513.00520.507.502.362.36VGArea 51- Laika Zone 2 & 310200 Including…513.00517.004.004.014.01 Area 51- Laika Zone 2 & 410200 FA-20-159555.00556.001.005.105.10VGArea 51- Laika Zone 110200 FA-20-159-W1539.00659.50120.501.531.53VGArea 51- Laika Zone 2 to Andromeda Zone 210200 Including…558.50582.5024.003.493.49VGArea 51- Laika Zones 1 & 210200 Which includes…577.50582.505.009.359.35VGArea 51- Laika Zone 1 & Andromeda Zone 410200 And...638.00659.5021.502.452.45VGArea 51- Andromeda Zones 3 & 410200 FA-20-159-W1721.00743.5022.501.221.22VGArea 51- Andromeda 1 & Interstellar 310200 Including…721.00722.551.554.544.54VGArea 51- Andromeda 1 & Interstellar 310200 And…734.50736.001.504.814.81 Area 51- Andromeda 1 & Interstellar 310200 FA-20-160508.00513.355.3513.0313.03VGArea 51 West Extension9375 Including…512.75513.350.60106.00106.00VGArea 51 West Extension9375 FA-20-160606.00609.003.001.051.05 Area 51 West Extension9375 FA-20-161270.25272.201.955.905.90 Area 51- Orion Zone 29975 Including…271.35272.200.8510.2510.25 Area 51- Orion Zone 29975 FA-20-161602.85612.609.751.191.19VGArea 51- Andromeda Zone 49975 FA-20-166-W2716.20717.801.6012.9312.93VGArea 51- Laika Zone 1 & 210050 FA-20-167286.95287.750.806.416.41 Area 51- Andromeda Zone 3 & 49750 FA-20-167322.00323.501.509.609.60 Area 51- Andromeda Zone 2 & 39750 Table 1. Wallbridge Fenelon Gold Property 2020 Drill Assay Highlights (1) Drill HoleFromToLengthAuAu Cut (2)VG(3)Zone/CorridorSection  (m)(m)(m)(g/t)(g/t)    FA-20-167357.80380.2522.451.021.02VGArea 51- Andromeda Zone 1 & 29750 Including…357.80362.754.952.882.88VGArea 51- Andromeda Zone 1 & 29750 Which includes…357.80358.450.6514.6014.60VGArea 51- Andromeda Zone 1 & 29750 And…379.00380.251.255.655.65 Area 51- Andromeda Zone 1 & 29750 FA-20-1671075.501100.5025.002.622.62 Area 51- New Zone9750 Including…1075.501080.304.8012.4812.48 Area 51- New Zone9750 FA-20-16889.0097.508.501.751.75 Area 51- Orion Zone 49900 Including…89.0091.502.502.822.82 Area 51- Orion Zone 49900 And…96.0097.501.504.804.80 Area 51- Orion Zone 49900 FA-20-168163.75166.702.957.667.66VGArea 51- Orion Zone 2 & 39900 FA-20-171418.65473.6555.001.811.81VGArea 51- Interstellar Zone 39750 Including…435.30442.907.603.733.73VGArea 51- Interstellar Zone 49750 And…460.00462.002.0024.9124.91VGArea 51- Interstellar Zone 59750 FA-20-171719.00726.457.455.025.02 Area 51- Milky Way Zone 1 & 29750 Including…720.00723.503.509.739.73 Area 51- Milky Way Zone 1 & 29750 *metal factor of at least 5 g/t*m and minimum weighted average composite grade of 1 g/t Au (1) Table includes only assay results received since the latest press release on Area 51 results dated Aug 13, 2020. (2) Au cut at 140 g/t (3) Intervals containing visible gold ("VG").Note: True widths are estimated to be 50-80% of the reported core length intervals.Assay QA/QC and Qualified PersonsDrill core samples from the ongoing drill program at Fenelon are cut and bagged either on site or by contractors and transported to either SGS Canada Inc. or ALS Canada Ltd. for analysis. Samples, along with standards, blanks and duplicates included for quality assurance and quality control, were prepared and analyzed at SGS Canada Inc. or ALS Canada Ltd. laboratories. Samples are crushed to 90% or 95% less than 2mm. A 1kg riffle split is pulverized to >95% passing 106 microns or 85% passing 75 microns. 50g samples are analyzed by fire assay and AAS. At SGS, samples >10g/t Au are automatically analyzed by fire assay with gravimetric finish or screen metallic analysis. To test for coarse free gold and for additional quality assurance and quality control, Wallbridge requests screen metallic analysis for samples containing visible gold. These and future assay results may vary from time to time due to re-analysis for quality assurance and quality control.The Qualified Person responsible for the technical content of this press release is Christopher Kelly, P.Geo., B.Sc., Project Geologist of Wallbridge.About Wallbridge MiningWallbridge is currently advancing the exploration and development of its 100%-owned Fenelon Gold property, which is located along the Detour-Fenelon Gold Trend, an emerging gold belt in northwestern Québec with an ongoing, fully-funded 100,000-metre exploration drill program in 2020.The recent acquisition of Balmoral Resources has secured for Wallbridge a buffer of several kilometres surrounding its rapidly expanding Fenelon discovery providing room for growth, as well as future mine development flexibility. This acquisition has also significantly expanded Wallbridge's land holdings in Québec along the Detour-Fenelon Gold Trend (from 10.5 km2 to over 900.0 km2), improving Wallbridge's potential for further discoveries for over 90-kilometre strike in this under-explored belt.Wallbridge is also the operator of, and a shareholder in, Lonmin Canada Inc., a privately-held company with a large portfolio of nickel, copper, and platinum-group metals (PGM) projects in Ontario's Sudbury Basin.This news release has been authorized by the undersigned on behalf of Wallbridge Mining Company Limited.For further information please visit the Company's website at www.wallbridgemining.com or contact:Wallbridge Mining Company Limited Marz Kord, P. Eng., M. Sc., MBA President & CEO Tel: (705) 682-9297 ext. 251 Email: mkord@wallbridgemining.comVictoria Vargas, B.Sc. (Hon.) Economics, MBA Investor Relations Advisor Email: vvargas@wallbridgemining.comThis press release may contain certain “forward-looking statements” within the meaning of applicable Canadian securities legislation relating to, among other things, the operations of Wallbridge Mining Company Limited (“Wallbridge” or “Company”) and the environment within which it operates. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding future plans and objectives of Wallbridge, future opportunities and anticipated goals, the company’s portfolio, treasury, management team, timetable to mineral resource estimation, permitting and the prospective mineralization of the properties, are forward-looking statements that involve various risks, assumptions, estimates and uncertainties. Generally, forward-looking information can be identified by the use of forward-looking terminology 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”. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predicted outcomes could differ materially from those contained in such statements. These risks and uncertainties include, but are not limited to, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other required approval, the actual results of current exploration activities, fluctuations in prices of commodities, fluctuations in currency markets, actual results of additional exploration and development activities at the Company’s projects, capital expenditures, the availability of any additional capital required to advance projects, accidents, or pandemic interruptions.Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. These statements reflect the current internal projections, expectations or beliefs of the Company and are based on information currently available to the Company.The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. The Company believe that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon by investors as actual results may vary.Risks and uncertainties about Wallbridge’s business are more fully discussed in the disclosure material filed with the securities regulatory authorities in Canada and available on SEDAR under the Company’s profile at www.sedar.com. Readers are urged to read these materials and should not place undue reliance on the forward-looking statements contained in this press release.COVID-19 - Given the rapidly evolving nature of the Coronavirus (COVID-19) pandemic, Wallbridge is actively monitoring the situation in order to continue to maintain as best as possible the activities while striving to protect the health of its personnel.  Wallbridge' activities will continue to align with the guidance provided by local, provincial and federal authorities in Canada.  The company has established measures to continue normal activities while protecting the health of its employees and stakeholders. Depending on the evolution of the virus, measures may affect the regular operations of Wallbridge and the participation of staff members in events inside or outside Canada.

  • GlobeNewswire

    Wallbridge Provides Update on its Fully-Funded $112 Million Exploration and Development Programs for 2020-2021

    TORONTO, Oct. 13, 2020 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX:WM) (“Wallbridge” or the “Company”) today provides an update on its fully-funded $112 million exploration and development programs for 2020-2021. The main focus is to complete the drilling and underground development necessary to advance the Fenelon Gold Property (“Fenelon” or the “Property”) to a maiden resource estimate by the third quarter of 2021 as well as expanding the gold mineralization to greater depths. Work will also be carried out to provide an initial assessment of exploration targets on the Company’s 900 km2 land package on the Detour-Fenelon Gold Trend.“I am very pleased with our accomplishments this year,” stated Marz Kord, President and CEO of Wallbridge. “As of September 30, 2020, we have completed 75,000 metres of drilling and with the closing of our recent financing we have close to $97 million in the treasury and no debt. This gives us the financial strength to deliver our 2020 and 2021 exploration programs and advance Fenelon to a resource. The development of the underground drilling platforms will enable us to explore to greater depths and better evaluate all known mineralized areas at Fenelon, further increasing the amount of data and the level of confidence in our maiden resource. Approximately 10-15% of our drilling will be devoted to regional exploration on the Company’s district-scale and underexplored land package on the Detour-Fenelon Gold Trend over this period.”The remainder of the 2020 programs consists of: * Completion of a 100,000-metre drilling program (75% complete as of Sept 30, 2020); * Preparation for underground drilling platform development; and * Continuation of technical studies to support resource estimates and future economic studies. The planned expenditure for the entire 2020 is approximately $42 million which will result in forecasted year-end cash balance of approximately $82 millionThe 2021 program consists of: * Completion of approximately 150,000 metres of diamond drilling; * Completion of the maiden resource estimate for Fenelon including the Gabbro, Tabasco, Cayenne and Area 51 zones during the third quarter * Commencement of a 10,000 metre, multi-year development program to establish underground drilling platforms in Area 51 and Tabasco which will allow for: * Tightly-spaced drilling of Area 51, Lower Tabasco, and Cayenne zones down to 1,500 metre vertical depth; and * Mapping and sampling of Area 51, Lower Tabasco and Cayenne zones from underground The proposed budget for 2021 is approximately $70M.About Wallbridge MiningWallbridge is currently advancing the exploration and development of its 100%-owned Fenelon Gold property which is located along the Detour-Fenelon Gold Trend, an emerging gold belt in northwestern Québec with an ongoing, fully-funded 100,000-metre exploration drill program in 2020.The recent acquisition of Balmoral Resources has secured for Wallbridge a buffer of several kilometres surrounding its rapidly expanding Fenelon discovery providing room for growth, as well as future mine development flexibility. This acquisition has also significantly expanded Wallbridge's land holdings in Québec along the Detour-Fenelon Gold Trend (from 10.5 km2 to over 900.0 km2), improving Wallbridge's potential for further discoveries for over 90-kilometre strike in this under-explored belt.Wallbridge is also the operator of, and a shareholder in, Lonmin Canada Inc., a privately-held company with a large portfolio of nickel, copper, and platinum-group metals (PGM) projects in Ontario's Sudbury Basin.For further information please visit Wallbridge's website at www.wallbridgemining.com or contact:Wallbridge Mining Company Limited Marz Kord, P. Eng., M. Sc., MBA President & CEO Tel: (705) 682-9297 ext. 251 Email: mkord@wallbridgemining.comVictoria Vargas, B.Sc. (Hon.) Economics, MBA Investor Relations Advisor Email: vvargas@wallbridgemining.comThis press release may contain certain “forward-looking statements” within the meaning of applicable Canadian securities legislation relating to, among other things, the operations of Wallbridge Mining Company Limited (“Wallbridge” or “Company”) and the environment within which it operates. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding future plans and objectives of Wallbridge, future opportunities and anticipated goals, the company’s portfolio, treasury, management team, timetable to mineral resource estimation, permitting and the prospective mineralization of the properties, are forward-looking statements that involve various risks, assumptions, estimates and uncertainties. Generally, forward-looking information can be identified by the use of forward-looking terminology 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”. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predicted outcomes could differ materially from those contained in such statements. These risks and uncertainties include, but are not limited to, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other required approval, the actual results of current exploration activities, fluctuations in prices of commodities, fluctuations in currency markets, actual results of additional exploration and development activities at the Company’s projects, capital expenditures, the availability of any additional capital required to advance projects, accidents, or pandemic interruptions.Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. These statements reflect the current internal projections, expectations or beliefs of the Company and are based on information currently available to the Company.The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. The Company believe that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon by investors as actual results may vary.Risks and uncertainties about Wallbridge’s business are more fully discussed in the disclosure material filed with the securities regulatory authorities in Canada and available on SEDAR under the Company’s profile at www.sedar.com. Readers are urged to read these materials and should not place undue reliance on the forward-looking statements contained in this press release.Covid-19 - Given the rapidly evolving nature of the Coronavirus (COVID-19) pandemic, Wallbridge is actively monitoring the situation in order to continue to maintain as best as possible the activities while striving to protect the health of its personnel. Wallbridge' activities will continue to align with the guidance provided by local, provincial and federal authorities in Canada. The company has established measures to continue normal activities while protecting the health of its employees and stakeholders. Depending on the evolution of the virus, measures may affect the regular operations of Wallbridge and the participation of staff members in events inside or outside Canada.