This intersection is considered significant as it is located in the northern, largely untested part of the property, where no gold zone has been identified to date. This hole was collared approximately 2 kilometres from the nearest anomalous gold intersections (> 1 g/t Au over 1 m) on both the Casault and Martiniere properties.
This hole is one of 13 drilled over the last few months to test a variety of grassroots exploration targets 4 to 12 kilometres west of the Company's Martiniere Gold Property ('Martiniere').
The other 12 drill holes of the Casault program have also intersected strong shear and alteration zones with sulfide mineralization that are interpreted to potentially be part of gold-bearing systems. Assay results of these drill holes are pending and will be released as they become available.
'This intersection of encouraging gold mineralization in the first drill hole of our Casault program in an entirely grassroots area is not only a testament to our growing understanding of the regional controls on gold deposition in the Detour-Fenelon area but also to the prospectivity of the over 900 square kilometre land package along this underexplored belt', stated
Casault Gold Property
Wallbridge has an option to acquire up to a 65% interest in the 177 km2 Casault Property from
The Casault property also hosts the
Drill Program Completed
Between July and
Hole CAS-21-123 tested a prominent NW-SE oriented structure interpreted from airborne magnetics. This structural orientation is known to control gold mineralization at Fenelon and Martiniere, and a series of large structures of this trend also transects the Casault property. The particular structure tested by CAS-21-123 extends for an approximately 8 kilometres across the Company's Martiniere, Casault and Doigt properties and was historically tested by one drill hole on Martiniere, yielding 30.40 g/t Au over 0.44 metres, which has not yet been followed-up.
The intersection of 6.85 g/t Au over 2.00 metres in CAS-21-123 is associated with a mineralized zone consisting of chalcopyrite, pyrite, pyrrhotite, and electrum, a gold-silver mineral phase, hosted within deformed and heavily carbonate-altered, felsic to intermediate, porphyritic rocks.
About
Wallbridge is currently advancing the exploration and development of its 100% owned Fenelon Gold property located along the Detour Fenelon Gold Trend, an emerging gold belt in northwestern
Wallbridge now holds several kilometres surrounding its rapidly expanding Fenelon discovery providing room for growth, as well as future mine development flexibility. Wallbridge's land holdings in
Wallbridge is also the operator of, and a 17.8% shareholder in,
This news release has been authorized by the undersigned on behalf of
Contact:
Tel: (705) 682 9297
Email: mkord@wallbridgemining.com
This press release may contain certain 'forward looking statements' within the meaning of applicable Canadian securities legislation relating to, among other things, the operations of
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 believes 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.
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