TORONTO, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX:WM, OTCQB:WLBMF) ("Wallbridge” or the "Company”) today announced the results of the Phase 2 exploration drilling program at its 100% owned Martiniere gold project ("Martiniere”) which returned multiple high grade gold intercepts from three exploration targets along the Bug Lake ("BL”) deformation zone located within 500 metres ("m”) of the currently delineated mineral resource.
Highlights
Significant high grade gold intercepts returned from the Phase 2 drilling program at Martiniere include:
| BL North | 5.78 g/t Au over 3.9 m including 21.56 g/t Au over 0.9 m in hole MR-24-099 |
| Horsefly | 15.63 g/t Au over 11.0 m including 15.18 g/t over 2.3 m, 37.13 g/t Au over 1.8 m, 41.68
g/t Au over 1.2 m & 23.18 g/t Au over 0.8 m, and 7.24 g/t Au over 6.9 m including 17.56 g/t Au over 1.9 m & 6.88 g/t Au over 1.3 m in hole MR-24-100 |
| Dragonfly | 4.22 g/t Au over 4.5 m including 7.99 g/t Au over 1.1 m & 8.97 /t over 1.1 m in hole MR-24-089
3.93 g/t Au over 6.0 m including 12.15 g/t Au over 0.9 m & 5.02 g/t Au over 2.2 m in hole MR-24-092 15.02 g/t Au over 0.7 m & 206.00 g/t over 0.6 m in hole MR-24-102 27.60 g/t Au over 2.3 m including 9.99 g/t Au over 0.6 m & 86.30 g/t Au over 0.7 m in hole MR-24-110 |
"Various high grade gold intercepts returned from the three targets (Horsefly, Bug Lake North and Dragonfly) clearly demonstrate that the limits of the Martiniere deposit remain to be fully delineated, offering a substantial resource growth opportunity through continued exploration.
"Wallbridge's 2024 exploration results underscore the significant potential of the Martiniere project for future growth. The results of the 2024 drilling program will be incorporated into an updated mineral resource estimate, which the company plans to complete in Q1 2025. The Wallbridge team is eagerly anticipating following up on the positive results from this year's program as we look forward into 2025,” concluded Mr. Penny.
Webinar
For additional context to this news release, join Brian W. Penny, CEO, and Mark Peterson, Senior Geological Consultant Thursday, November 7th, 2024 at 2:00 PM ET for a live webinar here.
Martiniere Phase 2 Exploration Analysis
The Martiniere Phase 2 drilling program completed in September 2024, was comprised of 22 diamond drill holes totaling 8,141 m. Together with the Phase 1 program, the company has drilled 17,140 m in 51 exploration holes at Martiniere during 2024.
Building on findings from the Phase 1 program, the strategy for the Phase 2 program was to target potential lateral and vertical extensions of gold mineralization beyond the limits of the currently defined mineral resource. Gold mineralization occurs within a northwest-southeast trending corridor of sub-parallel structures and intrusive dikes and sills that host pyritic silicification and quartz-carbonate veining. To date exploration drilling along the Bug Lake zone has delineated gold mineralization over an approximate 1,500 m by 700 m area, and to an average vertical depth of approximately 350 to 400 m below surface. The Bug Lake zone remains open to further expansion along strike to the northwest and southeast and at depth.
At the Bug Lake North target, two of three drill holes intercepted significant gold grades along the down plunge projection of a strongly mineralized shoot as it extends beyond the currently defined gold resource. At the Horsefly target, roughly 300 m to the northeast of the Bug Lake North target, drilling has likewise returned multiple high grade gold intercepts along structures related to the Martiniere North zone, with three of seven drill holes intersecting significant gold grades beginning within 40 m of surface and outboard of the currently defined mineral resource. Exploration drilling in the Dragonfly area, a satellite target located approximately 600 m southeast of Horsefly and beyond the current resource limits, returned multiple high grade gold intercepts along a zone covering an area measuring approximately 500 m long, 150 m wide, and drill-tested over a vertical depth profile of 75 to 200 m from surface. The Dragonfly zone remains open to further expansion in both directions along strike and at depth below 200 m.
Martiniere Plan View
For more information including representative cross-sections, long-sections and assay summaries of complete drill holes please refer to the links below.
Martiniere Gold Project: 2024 Phase 2 Cross-Sections
Martiniere Gold Project: 2024 Phase 2 Long-Sections
Martiniere Gold Project: Q3 2024 Drill Assay Summary and Drill Hole Location Information
| Martiniere Project 2024 Phase 2 Drill Assay Highlights1 | ||||||
| From | To | Length3 | Au4 | |||
| Drill Hole | VG* 2 | (m) | (m) | (m) | (g/t) | |
| BUG LAKE NORTH | ||||||
| MR-24-096 | No Intercepts with Metal Factor > 5 g/t Au * m | |||||
| MR-24-098 | 389.4 | 390.2 | 0.8 | 11.30 | ||
| 532.1 | 537.8 | 5.7 | 1.88 | |||
| Including | 532.1 | 533.4 | 1.3 | 2.39 | ||
| 533.4 | 534.4 | 1.0 | 1.05 | |||
| 534.4 | 535.5 | 1.1 | 3.29 | |||
| 535.5 | 536.8 | 1.3 | 0.65 | |||
| 536.8 | 537.8 | 1.0 | 2.06 | |||
| MR-24-099 | 94.0 | 97.1 | 3.1 | 2.91 | ||
| Including | 94.0 | 95.1 | 1.1 | 3.97 | ||
| 95.1 | 96.0 | 0.9 | 0.71 | |||
| 96.0 | 97.1 | 1.1 | 3.81 | |||
| 136.5 | 140.4 | 3.9 | 5.78 | |||
| Including | 136.5 | 137.1 | 0.6 | 0.71 | ||
| 137.1 | 138.0 | 0.9 | 21.56 | |||
| 138.0 | 140.4 | 2.4 | 1.14 | |||
| HORSEFLY | ||||||
| MR-24-095 | No Intercepts with Metal Factor > 5 g/t Au * m | |||||
| MR-24-100 | * | 57.8 | 68.8 | 11.0 | 15.63 | |
| Including * | 57.8 | 60.1 | 2.3 | 15.18 | ||
| 60.1 | 62.3 | 2.2 | 0.58 | |||
| 62.3 | 64.1 | 1.8 | 37.13 | |||
| 64.1 | 65.9 | 1.8 | 0.42 | |||
| 65.9 | 67.1 | 1.2 | 41.68 | |||
| 67.1 | 68.0 | 0.9 | 0.34 | |||
| 68.0 | 68.8 | 0.8 | 23.18 | |||
| * | 114.4 | 121.3 | 6.9 | 7.24 | ||
| Including | 114.4 | 115.4 | 1.0 | 2.05 | ||
| * | 115.4 | 117.3 | 1.9 | 17.56 | ||
| 117.3 | 119.0 | 1.7 | 2.08 | |||
| * | 119.0 | 120.3 | 1.3 | 6.88 | ||
| 120.3 | 121.3 | 1.0 | 1.76 | |||
| MR-24-100 (cont'd) | 124.4 | 130.0 | 5.6 | 3.70 | ||
| Including | 124.4 | 124.9 | 0.5 | 3.18 | ||
| 124.9 | 125.5 | 0.6 | 20.10 | |||
| 125.5 | 127.7 | 2.2 | 0.28 | |||
| 127.7 | 130.0 | 2.3 | 2.45 | |||
| 155.0 | 155.5 | 0.5 | 10.80 | |||
| MR-24-101A | 167.4 | 170.5 | 3.1 | 2.05 | ||
| Including | 167.4 | 167.9 | 0.5 | 2.35 | ||
| 167.9 | 168.4 | 0.5 | 0.03 | |||
| 168.4 | 169.0 | 0.6 | 4.92 | |||
| 169.0 | 170.0 | 1.0 | 0.32 | |||
| 170.0 | 170.5 | 0.5 | 3.99 | |||
| MR-24-106 | 233.0 | 234.0 | 1.0 | 9.30 | ||
| MR-24-107 | No Intercepts with Metal Factor > 5 g/t Au * m | |||||
| MR-24-108 | No Intercepts with Metal Factor > 5 g/t Au * m | |||||
| MR-24-109 | 124.0 | 125.5 | 1.5 | 4.35 | ||
| Including | 124.0 | 125.0 | 1.0 | 1.52 | ||
| 125.0 | 125.5 | 0.5 | >10 | |||
| 402.0 | 404.0 | 2.0 | 2.89 | |||
| Including | 402.0 | 403.0 | 1.0 | 0.48 | ||
| 403.0 | 404.0 | 1.0 | 5.31 | |||
| 473.5 | 476.5 | 3.0 | 3.67 | |||
| Including | 473.5 | 475.0 | 1.5 | 6.88 | ||
| 475.0 | 476.5 | 1.5 | 0.47 | |||
| 517.0 | 521.5 | 4.5 | 2.62 | |||
| Including | 517.0 | 518.5 | 1.5 | 0.46 | ||
| 518.5 | 521.5 | 3.0 | 3.69 | |||
| 558.0 |
| |||||