Wallbridge Mining Company Limited (TSX:WM,
OTCQX:WLBMF) (
“Wallbridge” or the
“Company”) today reported positive assay results
from the ongoing drill program at the Fenelon gold project
(“
Fenelon”), including newly identified areas of
mineralization within and surrounding the existing resource
footprint on the Company’s Detour-Fenelon Gold Trend Property in
Northwestern Quebec.
“Today’s results include additional high-quality
gold intercepts inside the 2021 mineral resource estimate (“MRE”)
footprint, demonstrating the potential to continue growing the size
and quality of Fenelon’s existing gold resource. A good example of
this is drill hole FA-22-405, which identified a previously unknown
area of near-surface mineralization in the Tabasco zone, including
one intercept of 4.89 g/t Au over 11.00 metres” said Attila Péntek,
Wallbridge’s Vice President, Exploration. “The continuity of the
deposit was reinforced through results such as drill hole
FA-20-159-W6, which included 1.73 g/t Au over 67.70 metres. Several
intersections reported today also demonstrate that there is strong
potential to expand the resource laterally, while the exploration
drill holes have provided important information about the geology
surrounding the known deposit, as we look to identify satellite
deposits and new mineralized zones.”
Fenelon Resource Drilling
Within 2021 MRE footprint
One of the primary objectives of the Company’s
2022 Fenelon drill program, as outlined in Wallbridge’s News
Release dated January 10, 2022 is to delineate additional resources
within the known footprint of the deposit to support future
economic studies and an updated resource estimate for 2023. The
Company has two to three drill rigs allocated to this program.
Recent highlight intersections from this program include:
|
FA-20-159-W6 |
1.73
g/t Au over 67.70 metres, including |
|
|
2.64 g/t Au over 12.00 metres, and |
|
|
7.33 g/t Au over 6.75 metres in the Area 51
zone; |
|
|
|
|
|
49.07 g/t Au over 1.00 metre, |
|
|
2.71 g/t Au over 12.40 metres, and |
|
|
22.83 g/t Au over 2.05 metres in the
Tabasco-Cayenne zones. |
|
|
|
|
FA-22-405 |
4.89 g/t Au over 11.00 metres, including |
|
|
21.87 g/t Au over 2.00 metres in the Tabasco
Zone, at a shallow vertical depth of only 60 metres in a previously
unknown area of mineralization. |
Lateral expansion from 2021
MRE
The current drill program is also focusing on
expanding the resource laterally, in directions where the
mineralization is open. Data from this drilling will support future
economic studies in determining the optimal mining configuration of
the project. The Company has three to four drill rigs allocated to
this program and recent highlight intersections include:
|
FA-21-379 |
5.21
g/t Au over 5.00 metres, including |
|
|
38.00 g/t Au over 0.60 metres, in Area 51, 100
metres southwest of 2021 MRE. |
|
|
|
|
FA-21-382 |
44.41 g/t Au over 0.50 metres in Area 51, 200
metres southwest of 2021 MRE. |
|
|
|
|
FA-21-390 |
0.51 g/t Au over 206.60 metres, including |
|
|
1.15 g/t Au over 9.50 metres, and |
|
|
2.11 g/t Au over 6.80 metres, and |
|
|
2.33 g/t Au over 5.40 metres in the Ripley
Zone, 1.2 kilometres south of 2021 MRE. |
|
|
|
|
FA-21-384 |
0.54 g/t Au over 40.50 metres, including |
|
|
1.23 g/t Au over 6.50 metres in the Ripley
Zone, 1.0 kilometre south of 2021 MRE. |
Fenelon Exploration
Drilling
As part of the ongoing drill program, Wallbridge
completed exploration drilling in late 2021 to gain a better
understanding of the geology surrounding the known Fenelon deposit
and to find suitable geologic environments that can host new gold
zones and satellite deposits. Lacking surface outcrops, this
program is largely guided by detailed unmanned aerial vehicle (UAV)
geophysical magnetic survey data that has proven very effective in
identifying host rocks and potentially gold-bearing structures.
Fifteen of the drill holes released today
(FA-21-319, -323, -325, -330, -332, -335, -339, -352, -354, -357,
-363, -367, -369, -372, -377) targeted airborne magnetic features
resembling the signature of the Jeremie Diorite, one of the main
host rocks of the Fenelon deposit. The results will assist in
better defining the shape of this geologic unit and in finding
western and northwestern extensions of this diorite body that may
host gold mineralization. This program resulted in an improved 3D
model of the Jeremie Diorite in the area 500 metres to two
kilometres west of the Fenelon deposit and new gold mineralization
was encountered in drill hole FA-21-357.
Four drill holes released today (FA-21-327,
-337, -351, -373) were drilled to locate the Sunday Lake
Deformation Zone and to help interpret the geologic and structural
features up to 2.3 kilometres west of the Ripley gold zone. New
gold mineralization was encountered in drill hole FA-21-327.
Four drill holes (FA-21-329, -333, -341, -350)
were drilled to locate the Sunday Lake Deformation Zone and to help
interpret the geologic and structural features 300 metres east of
the Ripley gold zone. New gold mineralization was encountered in
all four drill holes.
Final assay results from 72 drill holes and
partial results of six holes of the 2021/2022 Fenelon drill
program are reported in the Table
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. Compilation map of the
Fenelon-Grasset
areahttps://www.globenewswire.com/NewsRoom/AttachmentNg/316bb015-3c88-42b1-96bc-602dc9954919
Figure 2. Fenelon Gold, Plan
Viewhttps://www.globenewswire.com/NewsRoom/AttachmentNg/60ff6134-1ba7-467d-a861-fbab1fad65e1
Figure 3. Fenelon Gold, Vertical
Sectionhttps://www.globenewswire.com/NewsRoom/AttachmentNg/be4e2cca-4aa4-448b-8d77-07aa3ed8b508
Table 1. Wallbridge Fenelon Gold Property, Recent Drill
Assay Highlights (1) |
Drill Hole |
From |
To |
Length |
Au |
Au Cut(2) |
VG(3) |
Zone/Corridor |
|
(m) |
(m) |
(m) |
(g/t) |
(g/t) |
|
|
Resource Drilling within MRE Footprint |
19-0925-008 |
289.00 |
290.20 |
1.20 |
4.90 |
4.90 |
|
Area 51 |
21-5075-10265-B |
No Significant Mineralization (4) |
21-5080-10A |
No Significant Mineralization (4) |
21-5080-010A-W1 |
167.90 |
173.00 |
5.10 |
0.99 |
0.99 |
VG |
Area 51 |
21-5130-002 |
342.00 |
366.00 |
24.00 |
0.85 |
0.85 |
VG |
Area 51 |
Including… |
342.00 |
345.00 |
3.00 |
2.05 |
2.05 |
|
Area 51 |
And… |
361.50 |
366.00 |
4.50 |
1.44 |
1.44 |
|
Area 51 |
21-5130-002 |
394.50 |
401.50 |
7.00 |
1.16 |
1.16 |
|
Area 51 |
FA-20-154-W2 |
No Significant Mineralization (4) |
FA-20-154-W3 |
1156.00 |
1159.00 |
3.00 |
1.92 |
1.92 |
|
Tabasco |
FA-20-159-W5 |
613.50 |
622.50 |
9.00 |
0.73 |
0.73 |
|
Area 51 |
FA-20-159-W5 |
624.00 |
630.00 |
6.00 |
2.88 |
2.88 |
VG |
Area 51 |
Including… |
624.00 |
624.70 |
0.70 |
18.25 |
18.25 |
VG |
Area 51 |
FA-20-159-W6 |
507.00 |
532.90 |
25.90 |
0.55 |
0.55 |
VG |
Area 51 |
Table 1. Wallbridge Fenelon Gold Property, Recent Drill
Assay Highlights (1) |
Drill Hole |
From |
To |
Length |
Au |
Au Cut(2) |
VG(3) |
Zone/Corridor |
|
(m) |
(m) |
(m) |
(g/t) |
(g/t) |
|
|
Including… |
524.25 |
532.90 |
8.65 |
0.97 |
0.97 |
VG |
Area 51 |
FA-20-159-W6 |
545.00 |
550.00 |
5.00 |
1.84 |
1.84 |
|
Area 51 |
FA-20-159-W6 |
568.00 |
635.70 |
67.70 |
1.73 |
1.73 |
VG |
Area 51 |
Including… |
568.00 |
580.00 |
12.00 |
2.64 |
2.64 |
VG |
Area 51 |
And… |
597.00 |
603.75 |
6.75 |
7.33 |
7.33 |
VG |
Area 51 |
Which Includes… |
603.25 |
603.75 |
0.50 |
57.90 |
57.90 |
VG |
Area 51 |
FA-20-159-W6 |
743.90 |
744.90 |
1.00 |
4.91 |
4.91 |
|
Area 51 |
FA-20-159-W6 |
840.60 |
845.10 |
4.50 |
7.68 |
7.68 |
|
Contact Zone |
Including… |
840.60 |
842.00 |
1.40 |
21.29 |
21.29 |
|
Contact Zone |
FA-20-159-W6 |
883.00 |
884.00 |
1.00 |
49.07 |
49.07 |
|
Tabasco |
FA-20-159-W6 |
911.50 |
914.50 |
3.00 |
1.98 |
1.98 |
|
Tabasco |
FA-20-159-W6 |
923.55 |
925.00 |
1.45 |
6.47 |
6.47 |
VG |
Tabasco |
FA-20-159-W6 |
941.30 |
953.70 |
12.40 |
2.71 |
2.71 |
VG |
Cayenne |
Including… |
949.35 |
951.50 |
2.15 |
9.91 |
9.91 |
VG |
Cayenne |
FA-20-159-W6 |
991.00 |
993.05 |
2.05 |
22.83 |
22.83 |
VG |
Cayenne |
Table 1. Wallbridge Fenelon Gold Property, Recent Drill
Assay Highlights (1) |
Drill Hole |
From |
To |
Length |
Au |
Au Cut(2) |
VG(3) |
Zone/Corridor |
|
(m) |
(m) |
(m) |
(g/t) |
(g/t) |
|
|
FA-21-360 |
63.00 |
65.50 |
2.50 |
2.16 |
2.16 |
|
Area 51 |
FA-21-360 |
104.00 |
104.50 |
0.50 |
22.00 |
22.00 |
|
Area 51 |
FA-21-362 |
56.50 |
58.00 |
1.50 |
4.39 |
4.39 |
|
Area 51 |
FA-21-362 |
169.50 |
173.50 |
4.00 |
1.66 |
1.66 |
|
Area 51 |
FA-21-365 |
139.00 |
151.25 |
12.25 |
0.89 |
0.89 |
|
Contact Zone |
Including… |
139.00 |
140.05 |
1.05 |
6.17 |
6.17 |
|
Contact Zone |
FA-22-405 |
74.00 |
85.00 |
11.00 |
4.89 |
4.89 |
VG |
Tabasco |
Including… |
77.00 |
79.00 |
2.00 |
21.87 |
21.87 |
VG |
Tabasco |
Resource Drilling Proximal to 2021 MRE |
FA-21-311-W2 |
918.00 |
919.00 |
1.00 |
9.68 |
9.68 |
VG |
Area 51 |
FA-21-311-W2 |
941.00 |
941.50 |
0.50 |
62.40 |
62.40 |
|
Area 51 |
FA-21-311-W2 |
1279.75 |
1282.15 |
2.40 |
2.12 |
2.12 |
VG |
Tabasco |
FA-21-311-W4 |
920.00 |
922.55 |
2.55 |
4.97 |
4.97 |
VG |
Area 51 |
FA-21-311-W5 |
1012.00 |
1013.50 |
1.50 |
3.39 |
3.39 |
|
Area 51 |
FA-21-311-W5 |
1247.40 |
1254.30 |
6.90 |
1.46 |
1.46 |
VG |
Area 51 |
Table 1. Wallbridge Fenelon Gold Property, Recent Drill
Assay Highlights (1) |
Drill Hole |
From |
To |
Length |
Au |
Au Cut(2) |
VG(3) |
Zone/Corridor |
|
(m) |
(m) |
(m) |
(g/t) |
(g/t) |
|
|
Including… |
1252.80 |
1254.30 |
1.50 |
3.44 |
3.44 |
VG |
Area 51 |
FA-21-311-W6 |
No Significant Mineralization (4) |
FA-21-311-W8 |
No Significant Mineralization (4) |
FA-21-316 |
74.00 |
87.00 |
13.00 |
0.81 |
0.81 |
|
Ripley |
FA-21-316 |
184.00 |
186.00 |
2.00 |
4.75 |
4.75 |
|
Ripley |
FA-21-316 |
216.00 |
225.80 |
9.80 |
0.56 |
0.56 |
|
Ripley |
FA-21-317 |
151.15 |
152.00 |
0.85 |
9.95 |
9.95 |
|
Area 51 |
FA-21-318 |
45.00 |
61.00 |
16.00 |
0.89 |
0.89 |
|
Ripley |
FA-21-318 |
76.00 |
90.50 |
14.50 |
0.62 |
0.62 |
|
Ripley |
FA-21-318 |
107.00 |
108.50 |
1.50 |
4.44 |
4.44 |
|
Ripley |
FA-21-320 |
No Significant Mineralization (4) |
FA-21-320A |
No Significant Mineralization (4) |
FA-21-321 |
No Significant Mineralization (4) |
FA-21-322 |
644.75 |
659.00 |
14.25 |
0.56 |
0.56 |
|
Ripley |
FA-21-322 |
674.60 |
682.30 |
7.70 |
0.77 |
0.77 |
|
Ripley |
Table 1. Wallbridge Fenelon Gold Property, Recent Drill
Assay Highlights (1) |
Drill Hole |
From |
To |
Length |
Au |
Au Cut(2) |
VG(3) |
Zone/Corridor |
|
(m) |
(m) |
(m) |
(g/t) |
(g/t) |
|
|
FA-21-322 |
697.00 |
722.00 |
25.00 |
0.48 |
0.48 |
|
Ripley |
FA-21-331 |
No Significant Mineralization (4) |
FA-21-334 |
No Significant Mineralization (4) |
FA-21-338 |
No Significant Mineralization (4) |
FA-21-340 |
No Significant Mineralization (4) |
FA-21-347 |
No Significant Mineralization (4) |
FA-21-347-W1 |
No Significant Mineralization (4) |
FA-21-347-W2 |
No Significant Mineralization (4) |
FA-21-347-W3 |
No Significant Mineralization (4) |
FA-21-347-W4 |
No Significant Mineralization (4) |
FA-21-356 |
No Significant Mineralization (4) |
FA-21-361 |
No Significant Mineralization (4) |
FA-21-361-W1 |
No Significant Mineralization (4) |
FA-21-370 |
No Significant Mineralization (4) |
FA-21-374 |
No Significant Mineralization (4) |
Table 1. Wallbridge Fenelon Gold Property, Recent Drill
Assay Highlights (1) |
Drill Hole |
From |
To |
Length |
Au |
Au Cut(2) |
VG(3) |
Zone/Corridor |
|
(m) |
(m) |
(m) |
(g/t) |
(g/t) |
|
|
FA-21-375 |
166.00 |
175.00 |
9.00 |
0.89 |
0.89 |
|
Area 51 |
FA-21-379 |
155.00 |
160.00 |
5.00 |
5.21 |
5.21 |
|
Area 51 |
Including… |
155.00 |
155.60 |
0.60 |
38.00 |
38.00 |
|
Area 51 |
FA-21-381 |
No Significant Mineralization (4) |
FA-21-382 |
100.00 |
101.50 |
1.50 |
3.53 |
3.53 |
|
Area 51 |
FA-21-382 |
215.25 |
215.75 |
0.50 |
44.41 |
44.41 |
VG |
Area 51 |
FA-21-384 |
393.00 |
433.50 |
40.50 |
0.54 |
0.54 |
|
Ripley |
Including… |
394.00 |
400.50 |
6.50 |
1.23 |
1.23 |
|
Ripley |
FA-21-385 |
531.00 |
560.50 |
29.50 |
0.63 |
0.63 |
|
Area 51 |
Including… |
536.50 |
539.50 |
3.00 |
2.91 |
2.91 |
|
Area 51 |
FA-21-387 |
No Significant Mineralization (4) |
FA-21-388 |
No Significant Mineralization (4) |
FA-21-390 |
283.90 |
287.50 |
3.60 |
1.41 |
1.41 |
|
Ripley |
FA-21-390 |
385.65 |
390.50 |
4.85 |
1.97 |
1.97 |
|
Ripley |
FA-21-390 |
447.80 |
654.40 |
206.60 |
0.51 |
0.51 |
VG |
Ripley |
Table 1. Wallbridge Fenelon Gold Property, Recent Drill
Assay Highlights (1) |
Drill Hole |
From |
To |
Length |
Au |
Au Cut(2) |
VG(3) |
Zone/Corridor |
|
(m) |
(m) |
(m) |
(g/t) |
(g/t) |
|
|
Including… |
447.80 |
457.30 |
9.50 |
1.15 |
1.15 |
VG |
Ripley |
And… |
537.00 |
543.80 |
6.80 |
2.11 |
2.11 |
|
Ripley |
And… |
610.50 |
615.90 |
5.40 |
2.33 |
2.33 |
|
Ripley |
FA-22-393 |
338.00 |
348.50 |
10.50 |
1.37 |
1.37 |
|
Ripley |
Including… |
342.00 |
344.00 |
2.00 |
3.80 |
3.80 |
|
Ripley |
FA-22-397 |
315.00 |
325.00 |
10.00 |
0.75 |
0.75 |
|
Ripley |
FA-22-398 |
203.50 |
205.00 |
1.50 |
4.11 |
4.11 |
|
Ripley |
FA-22-400 |
114.00 |
115.00 |
1.00 |
7.28 |
7.28 |
|
Ripley |
Exploration Drilling (5) |
FA-21-319 |
No Significant Mineralization (5) |
FA-21-323 |
No Significant Mineralization (5) |
FA-21-325 |
No Significant Mineralization (5) |
FA-21-327 |
198.20 |
199.70 |
1.50 |
0.77 |
0.77 |
|
New Zone |
FA-21-327 |
520.00 |
521.00 |
1.00 |
1.37 |
1.37 |
|
New Zone |
FA-21-329 |
248.50 |
250.00 |
1.50 |
0.97 |
0.97 |
|
New Zone |
Table 1. Wallbridge Fenelon Gold Property, Recent Drill
Assay Highlights (1) |
Drill Hole |
From |
To |
Length |
Au |
Au Cut(2) |
VG(3) |
Zone/Corridor |
|
(m) |
(m) |
(m) |
(g/t) |
(g/t) |
|
|
FA-21-330 |
No Significant Mineralization (5) |
FA-21-332 |
No Significant Mineralization (5) |
FA-21-333 |
345.00 |
349.00 |
4.00 |
0.32 |
0.32 |
|
New Zone |
FA-21-335 |
No Significant Mineralization (5) |
FA-21-337 |
No Significant Mineralization (5) |
FA-21-339 |
No Significant Mineralization (5) |
FA-21-341 |
295.00 |
296.50 |
1.50 |
1.03 |
1.03 |
|
New Zone |
FA-21-341 |
703.50 |
705.00 |
1.50 |
1.97 |
1.97 |
|
New Zone |
FA-21-350 |
260.50 |
271.00 |
10.50 |
0.49 |
0.49 |
|
New Zone |
Including… |
269.50 |
271.00 |
1.50 |
1.63 |
1.63 |
|
New Zone |
FA-21-350 |
301.00 |
304.00 |
3.00 |
1.66 |
1.66 |
|
New Zone |
FA-21-351 |
No Significant Mineralization (5) |
FA-21-352 |
No Significant Mineralization (5) |
FA-21-354 |
No Significant Mineralization (5) |
FA-21-357 |
307.00 |
308.50 |
1.50 |
2.64 |
2.64 |
|
New Zone |
Table 1. Wallbridge Fenelon Gold Property, Recent Drill
Assay Highlights (1) |
Drill Hole |
From |
To |
Length |
Au |
Au Cut(2) |
VG(3) |
Zone/Corridor |
|
(m) |
(m) |
(m) |
(g/t) |
(g/t) |
|
|
FA-21-357 |
379.00 |
380.50 |
1.50 |
0.68 |
0.68 |
|
New Zone |
FA-21-357 |
487.00 |
490.45 |
3.45 |
0.63 |
0.63 |
|
New Zone |
FA-21-363 |
No Significant Mineralization (5) |
FA-21-364 |
No Significant Mineralization (5) |
FA-21-366 |
199.00 |
200.50 |
1.50 |
2.30 |
2.30 |
|
New Zone |
FA-21-367 |
184.00 |
191.50 |
7.50 |
0.45 |
0.45 |
|
Area 51 |
FA-21-367 |
232.00 |
233.50 |
1.50 |
5.11 |
5.11 |
|
Area 51 |
FA-21-369 |
176.50 |
178.00 |
1.50 |
1.14 |
1.14 |
|
Area 51 |
FA-21-372 |
No Significant Mineralization (5) |
FA-21-373 |
No Significant Mineralization (5) |
FA-21-376 |
No Significant Mineralization (5) |
FA-21-377 |
No Significant Mineralization (5) |
|
|
|
|
|
|
|
|
(1) Table
includes only assay results received since the latest press release
dated March 30, 2022. |
(2) Au
cut at: 110 g/t Au for the Tabasco/Contact /Cayenne zones; 75 g/t
Au for the Area 51 zones. |
(3) Intervals
containing visible gold ("VG"). |
(4) Metal
factor of at least 5 g/t*m and minimum weighted average composite
grade of 0.35 g/t Au within the open pit model and 1.5 g/t Au for
below open pit model. |
(5) Metal
factor of at least 1 g/t*m and minimum weighted average composite
grade of 0.3 g/t Au for exploration drillholes. |
Assay QA/QC and Qualified
Persons
Drill core samples from the ongoing drill
program at Fenelon are cut and bagged either on site or by
contractors and transported to SGS Canada Inc. or Bureau Veritas
Commodities Canada Ltd. for analysis. Samples, along with standards
and blanks that are included for quality assurance and quality
control, were prepared and analyzed at the laboratories. Samples
are crushed to 90% less than 2mm. A 1kg riffle split is pulverized
to 85% passing 75 microns. 50g samples are analyzed by fire assay
and AAS or ICP. At SGS and Bureau Veritas 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 Peter Lauder, P.Geo,
Exploration Manager of Wallbridge.
About Wallbridge Mining
Wallbridge is focused on creating value through
the discovery, acquisition, development, and production of gold
from a portfolio of exploration and development stage assets
located in established mining jurisdictions within Canada.
Wallbridge’s flagship project, Fenelon, is located on the highly
prospective Detour-Fenelon Gold Trend in Northern Abitibi, Quebec.
A mineral resource estimate completed in 2021 validated the
multi-million-ounce potential of Fenelon as well as Wallbridge’s
nearby Martiniere Property, incorporating a combined 2.67 million
ounces of indicated gold resources and 1.72 million ounces of
inferred gold resources. Fenelon and Martiniere, located within a
910-square-kilometre exploration land package controlled by
Wallbridge, have the potential to be developed into mines, and are
close to existing power and transportation infrastructure.
Wallbridge also has interests in several copper, nickel and
platinum group metal properties, including a 17.8% interest in
Lonmin Canada Inc.
Further information about Wallbridge can be
found in the Company’s regulatory filings available on SEDAR at
www.sedar.com and on the Company’s website
at www.wallbridgemining.com.
This news release has been authorized by the
undersigned on behalf of Wallbridge Mining Company Limited.
Wallbridge Mining Company
Limited
Marz Kord, P. Eng., M. Sc., MBA
President & CEO
Tel: (705) 682‒9297 ext. 251
Email: mkord@wallbridgemining.com
Victoria Vargas, B.Sc. (Hon.) Economics, MBA
Investor Relations Advisor
Email: vvargas@wallbridgemining.com
Cautionary Note Regarding
Forward-Looking Information
This press release of Wallbridge Mining Company
Limited ("Wallbridge" or the
"Company") contains forward-looking statements or
information (collectively, “FLI”) within the meaning of applicable
Canadian securities legislation. FLI is based on expectations,
estimates, projections and interpretations as at the date of this
press release.
All statements, other than statements of
historical fact, included herein are FLI that involve various
risks, assumptions, estimates and uncertainties. Generally, FLI can
be identified by the use of statements that include words 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.”
FLI herein includes, but is not limited to:
future drill results; the Company’s ability to convert inferred
resources into measured and indicated resources; environmental
matters; stakeholder engagement and relationships; parameters and
methods used to estimate the mineral resource estimates (each an
“MRE”) at the Fenelon and Martiniere properties (collectively the
“Deposits”); the prospects, if any, of the
Deposits; future drilling at the Deposits; and the significance of
historic exploration activities and results.
FLI is designed to help you understand
management’s current views of its near- and longer-term prospects,
and it may not be appropriate for other purposes. FLI by their
nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such FLI. Although the FLI
contained in this press release is based upon what management
believes, or believed at the time, to be reasonable assumptions,
the Company cannot assure shareholders and prospective purchasers
of securities of the Company that actual results will be consistent
with such FLI, as there may be other factors that cause results not
to be as anticipated, estimated or intended, and neither the
Company nor any other person assumes responsibility for the
accuracy and completeness of any such FLI. Except as required by
law, the Company does not undertake, and assumes no obligation, to
update or revise any such FLI contained herein to reflect new
events or circumstances, except as may be required by law. Unless
otherwise noted, this press release has been prepared based on
information available as of the date of this press release.
Accordingly, you should not place undue reliance on the FLI or
information contained herein.
Furthermore, should one or more of the risks,
uncertainties or other factors materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those described in FLI.
Assumptions upon which FLI is based, without
limitation, include: the ability of exploration activities to
accurately predict mineralization; the accuracy of geological
modelling; the ability of the Company to complete further
exploration activities; the legitimacy of title and property
interests in the Deposits; the accuracy of key assumptions,
parameters or methods used to estimate the MREs; the ability of the
Company to obtain required approvals; the results of exploration
activities; the evolution of the global economic climate; metal
prices; environmental expectations; community and non-governmental
actions; and any impacts of COVID-19 on the Deposits, the Company’s
financial position, the Company’s ability to secure required
funding, or operations. Risks and uncertainties about Wallbridge's
business are more fully discussed in the disclosure materials filed
with the securities regulatory authorities in Canada, which are
available at www.sedar.com.
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.
Information Concerning Estimates of Mineral
Resources
The disclosure in this press release and
referred to herein was prepared in accordance with NI 43-101 which
differs significantly from the requirements of the U.S. Securities
and Exchange Commission (the "SEC"). The terms
"measured mineral resource", "indicated mineral resource" and
"inferred mineral resource" used in this press release are in
reference to the mining terms defined in the Canadian Institute of
Mining, Metallurgy and Petroleum Standards (the "CIM
Definition Standards"), which definitions have been
adopted by NI 43-101. Accordingly, information contained in this
press release providing descriptions of our mineral deposits in
accordance with NI 43-101 may not be comparable to similar
information made public by other U.S. companies subject to the
United States federal securities laws and the rules and regulations
thereunder.
Investors are cautioned not to assume that any
part or all of mineral resources will ever be converted into
reserves. Pursuant to CIM Definition Standards, "inferred mineral
resources" are that part of a mineral resource for which quantity
and grade or quality are estimated on the basis of limited
geological evidence and sampling. Such geological evidence is
sufficient to imply but not verify geological and grade or quality
continuity. An inferred mineral resource has a lower level of
confidence than that applying to an indicated mineral resource and
must not be converted to a mineral reserve. However, it is
reasonably expected that the majority of inferred mineral resources
could be upgraded to indicated mineral resources with continued
exploration. Under Canadian rules, estimates of inferred mineral
resources may not form the basis of feasibility or pre-feasibility
studies, except in rare cases. Investors are cautioned not to
assume that all or any part of an inferred mineral resource is
economically or legally mineable. Disclosure of "contained ounces"
in a resource is permitted disclosure under Canadian regulations;
however, the SEC normally only permits issuers to report
mineralization that does not constitute "reserves" by SEC standards
as in place tonnage and grade without reference to unit
measures.
Canadian standards, including the CIM Definition
Standards and NI 43-101, differ significantly from standards in the
SEC Industry Guide 7. Effective February 25, 2019, the SEC adopted
new mining disclosure rules under subpart 1300 of Regulation S-K of
the United States Securities Act of 1933, as amended (the
"SEC Modernization Rules"), with compliance
required for the first fiscal year beginning on or after January 1,
2021. The SEC Modernization Rules replace the historical property
disclosure requirements included in SEC Industry Guide 7. As a
result of the adoption of the SEC Modernization Rules, the SEC now
recognizes estimates of "measured mineral resources", "indicated
mineral resources" and "inferred mineral resources". Information
regarding mineral resources contained or referenced in this press
release may not be comparable to similar information made public by
companies that report according to U.S. standards. While the SEC
Modernization Rules are purported to be "substantially similar" to
the CIM Definition Standards, readers are cautioned that there are
differences between the SEC Modernization Rules and the CIM
Definitions Standards. Accordingly, there is no assurance any
mineral resources that the Company may report as "measured mineral
resources", "indicated mineral resources" and "inferred mineral
resources" under NI 43-101 would be the same had the Company
prepared the resource estimates under the standards adopted under
the SEC Modernization Rules.
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