Wallbridge Extends the Lower Tabasco Zone by 230 Metres Down-Dip and Receives First High-Grade Assays from Orion Veins
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Wallbridge Mining Company Limited
Dec 03, 2019, 07:00 ET
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TORONTO, Dec. 3, 2019 /CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) ("Wallbridge" or the "Company") is pleased to announce that hole FA-19-99 of the ongoing 75,000-metre 2019 drill program on its 100%-owned Fenelon Gold Property ("Fenelon" or the "Property") has intersected visible gold and abundant sulfide mineralization over a 16-metre core length. This extends the Lower Tabasco Zone a further 230 m down-dip to a vertical depth of 850 metres. In addition, complete assay results have now been received for drill hole FA-19-086, surrounding the previously reported 27.00 g/t Au over 38.39 metres (see Wallbridge Press Release dated October 21, 2019). The complete intersection is now reported as 22.73 g/t Au (18.87 g/t Au cut) over 48.01 metres.
High grade assays were also received from drill holes testing the newly discovered Orion Corridor located over 400 metres to the southeast, further demonstrating the exceptional gold endowment in this gold system over the entire one kilometre strike length explored so far.
"It is quite remarkable that our current initial wide-spaced drilling with holes spaced 75 metres to more than 200 metres apart continues to consistently intersect mineralization, given the typical size of ore shoots in typical Archean gold systems. The results to date show the exceptional quality of Fenelon and increases our continued understanding of the deposit," stated Marz Kord, President & CEO of Wallbridge. "The recent drilling, particularly our 230-metre undercut in the Lower Tabasco zone, suggests that at depth this zone appears to follow the contact of Jeremie Pluton in a sub-vertical manner, suggesting that further deep drilling in this area is warranted."
Lower Tabasco Zone Highlights
A 16-metre core length intersection of the Tabasco zone with visible gold and abundant sulfide mineralization. This interval is an approximate 230 metre undercut to the nearest intersection of the Tabasco zone in hole FA-19-092 and extends the known vertical extent of the gold-bearing system at Fenelon by 100 metres, to a vertical depth of 850 metres (see Figs. 2, 3 and 5). Assay results are pending.
Further gold-bearing assay results have been received surrounding the interval of 27.00 g/t Au over 38.39 metres announced in Wallbridge Press Release dated October 21, 2019. The intersection, which is interpreted to be the confluence of the Tabasco zone with one of the Andromeda corridor zones, is now updated as follows (see Figs. 2, 3 and 4):
22.73 g/t Au (18.87 g/t Au cut) over 48.01 metres, including
34.14 g/t Au (33.62 g/t Au cut) over 9.81 metres, and
32.22 g/t Au (24.33 g/t Au cut) over 22.87 metres
Note: Drill hole composites reported as "cut" contain higher grade samples that have been cut to 140 g/t Au. There is currently not enough information available to estimate true widths.
"We are very pleased with the visual results of drill hole FA-19-099, our first attempt at testing the Fenelon gold system down to 1,000 metres vertical depth," stated Attila Péntek, Vice President Exploration of Wallbridge. "In addition to extending the Lower Tabasco zone by an astounding 230 metres down-dip from the nearest intersection in FA-19-092, we also observed strong mineralization in the Orion and Andromeda corridors of Area 51 and in the Cayenne corridor north of the Tabasco zone, demonstrating the excellent potential to keep extending the deposit to greater depth. In addition, the first high-grade intersections from the Orion corridor, reported today, are encouraging us to continue testing this newly discovered portion of Area 51 in 2020."