Mining
Tuesday, July 26th, 2022 11:37 am EDT
“Today’s results add new gold mineralization along the eastern and western margins of the 2021 MRE. We are particularly pleased with the gold endowment in the eastern part of the deposit, where the host diorite is pervasively mineralized and we have encountered high-quality gold zones that remain entirely open toward the southeast,” Marz Kord, Wallbridge’s president and CEO, commented.
The western and eastern extensions of mineralization are exemplified by drill holes FA-22-401 (3.01 g/t gold over 17.95 metres) in the west and FA-22-420A (25.14 g/t gold over 3.27 metres) in the east, both of which intersected gold mineralization outside the 2021 MRE at approximately 795 to 865 metres below the surface. Furthermore, the areas directly surrounding these intercepts remain untested with further room to expand the mineralization.
The new drill results further demonstrated the expansion potential of the Fenelon gold deposit, where Wallbridge has been extending the near-surface mineralization at Area 51 and recently confirmed its continuity at depth by establishing underground access.
“Overall, the drilling at Fenelon this year has continued to prove extensions of new gold zones in multiple directions, which will help strengthen the project by delivering a more robust orebody with the flexibility to develop an optimal mine design,” Kord added.
Wallbridge geologists and technical staff envision that the next mineral resource estimate could point to a primarily bulk-mineable underground resource at Fenelon, with possible smaller open pits on shallow mineralized zones such as at Gabbro and Area 51.
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