- Wallbridge Mining Company (TSX:WM) has expanded the known mineralisation at the Fenelon Property in Québec
- The company intersected 4.31 grams per tonne of gold across 32.50 metres and 3.37 grams per tonne over 43.70 metres
- The Tabasco Zone’s high grade portion has been extended to 500 metres in strike length and 500 metres in depth
- A further 100,00 metres of exploration is planned at Fenelon over the next year
- Wallbridge Mining Company Ltd (WM) is up 2.52 per cent, with shares trading for C$0.61
Wallbridge Mining Company Ltd (TSX:WM) has released the latest exploration results from the Fenelon Gold Project in Québec.
The company has intersected further wide-spread gold around the Tabasco and Cayenne Zones.
Notable results include 4.31 grams per tonne of gold across 32.50 metres and 3.37 grams per tonne over 43.70 metres.
As a result, the Tabasco Zone’s high-grade portion has been extended to 500 metres in length and to 500 metres in depth.
Wallbridge has been extensively exploring Fenelon throughout last year hoping to expand the known mineralisation on the property.
Drilling has focused mainly on stepping out to the east and west of the orebody. Drillers have also tested the depth of mineralisation, particularly at the underground Tabasco Zone.
Promisingly, the company has intersected gold grades in east, west and below. However, exact assay results for these holes are still pending.
Marz Kord, President and CEO of Wallbridge, is pleased with the latest developments.
“The high-grade portion of the Tabasco zone is shaping up very nicely.
Tabasco remains open at depth and along strike, and has now been extended by an additional 100 metres along strike since our last press release,” he said.
Over 2019, Wallbridge Mining drilled 75,000 metres of exploration. The company plans a further 100,000 metres of exploration across the whole year, with five drills currently working on the step-out program.
Earlier this month, the company announced it’s acquiring Balmoral Resources in an all-stock buyout valued at C$110 million.
Balmoral Resources also operates around the Québec region. Both companies are hoping their combined assets will help expand the recent gold discoveries at Fenelon.
Through this acquisition, Wallbridge has expanded its footprint in the region from around 1,000 hectares to more than 750,000.
Wallbridge Mining Company Ltd (WM) is up 2.52 per cent, with shares trading for C$0.61 at 10.15am EST.