Wallbridge Provides Results of 2024 Drilling Program on Detour East Property
Wallbridge Mining (TSX: WM, OTCQB: WLBMF) has announced final assay results from its 2024 exploration drilling program at the Detour East property, conducted by Agnico Eagle Mines. The program yielded several significant gold intersections, including:
- 9.95 g/t Au over 0.5 metres in hole DTE-24-55
- 1.34 g/t Au over 3.0 metres in hole DTE-24-64
- 7.02 g/t Au over 3.5 metres in hole DTE-24-66
The exploration program consisted of two phases: a 1,923 line-kilometer airborne Mobile Magnetotellurics survey and a 14-hole diamond drilling program totaling 6,475 metres. Nine of the 14 holes intercepted gold mineralization warranting further investigation. Agnico has invested approximately $5.5 million in exploring the property since 2020, with $2.0 million remaining to acquire an initial 50% interest.
Wallbridge Mining (TSX: WM, OTCQB: WLBMF) ha annunciato i risultati finali delle analisi del suo programma di perforazione esplorativa 2024 presso il Detour East property, condotto da Agnico Eagle Mines. Il programma ha prodotto diverse intersezioni significative di oro, tra cui:
- 9.95 g/t Au su 0.5 metri nel foro DTE-24-55
- 1.34 g/t Au su 3.0 metri nel foro DTE-24-64
- 7.02 g/t Au su 3.5 metri nel foro DTE-24-66
Il programma di esplorazione si è composto di due fasi: un'indagine aerea di Magnetotellurica Mobile di 1.923 chilometri lineari e un programma di perforazione con diamante di 14 fori per un totale di 6.475 metri. Nove dei 14 fori hanno intercettato mineralizzazione aurifera che richiede ulteriori indagini. Agnico ha investito circa 5,5 milioni di dollari nell'esplorazione della proprietà dal 2020, con 2,0 milioni di dollari rimanenti per acquisire un interesse iniziale del 50%.
Wallbridge Mining (TSX: WM, OTCQB: WLBMF) ha anunciado los resultados finales de los análisis de su programa de perforación exploratoria 2024 en la propiedad Detour East, llevado a cabo por Agnico Eagle Mines. El programa arrojó varias intersecciones significativas de oro, incluyendo:
- 9.95 g/t Au en 0.5 metros en el pozo DTE-24-55
- 1.34 g/t Au en 3.0 metros en el pozo DTE-24-64
- 7.02 g/t Au en 3.5 metros en el pozo DTE-24-66
El programa de exploración constó de dos fases: una encuesta aérea de Magnetotellurica Móvil de 1.923 kilómetros lineales y un programa de perforación con diamante de 14 pozos que totalizó 6.475 metros. Nueve de los 14 pozos interceptaron mineralización de oro que justifica una investigación adicional. Agnico ha invertido aproximadamente 5.5 millones de dólares en la exploración de la propiedad desde 2020, con 2.0 millones de dólares restantes para adquirir un interés inicial del 50%.
월브리지 마이닝 (TSX: WM, OTCQB: WLBMF)는 디투어 이스트 속성에서 2024년 탐사 드릴링 프로그램의 최종 분석 결과를 발표했습니다. 이 프로그램은 Agnico Eagle Mines에 의해 수행되었습니다. 프로그램은 다음을 포함하여 여러 중요한 금 광맥을 발견했습니다:
- DTE-24-55 구멍에서 0.5미터당 9.95 g/t Au
- DTE-24-64 구멍에서 3.0미터당 1.34 g/t Au
- DTE-24-66 구멍에서 3.5미터당 7.02 g/t Au
탐사 프로그램은 두 단계로 구성되었습니다: 1,923킬로미터의 공중 모바일 자기유도 조사와 총 6,475미터의 다이아몬드 드릴링 프로그램으로 14개의 구멍이 포함되었습니다. 14개의 구멍 중 9개는 추가 조사가 필요한 금 광맥을 발견했습니다. Agnico는 2020년 이후 이 속성 탐사에 약 550만 달러를 투자했으며, 초기 50% 지분을 확보하기 위해 200만 달러가 남아 있습니다.
Wallbridge Mining (TSX: WM, OTCQB: WLBMF) a annoncé les résultats finaux des analyses de son programme de forage exploratoire 2024 sur la propriété Detour East, réalisé par Agnico Eagle Mines. Le programme a révélé plusieurs intersections significatives d'or, notamment :
- 9,95 g/t Au sur 0,5 mètre dans le trou DTE-24-55
- 1,34 g/t Au sur 3,0 mètres dans le trou DTE-24-64
- 7,02 g/t Au sur 3,5 mètres dans le trou DTE-24-66
Le programme d'exploration a consisté en deux phases : une enquête aéroportée de Magnétotellurique Mobile de 1.923 kilomètres et un programme de forage diamanté de 14 trous totalisant 6.475 mètres. Neuf des 14 trous ont intercepté une minéralisation aurifère nécessitant des investigations supplémentaires. Agnico a investi environ 5,5 millions de dollars dans l'exploration de la propriété depuis 2020, avec 2,0 millions de dollars restants pour acquérir un intérêt initial de 50 %.
Wallbridge Mining (TSX: WM, OTCQB: WLBMF) hat die endgültigen Analyseergebnisse seines Explorationsbohrprogramms 2024 auf dem Detour East Grundstück bekannt gegeben, das von Agnico Eagle Mines durchgeführt wurde. Das Programm lieferte mehrere bedeutende Goldintersektionen, darunter:
- 9,95 g/t Au über 0,5 Meter im Bohrloch DTE-24-55
- 1,34 g/t Au über 3,0 Meter im Bohrloch DTE-24-64
- 7,02 g/t Au über 3,5 Meter im Bohrloch DTE-24-66
Das Explorationsprogramm bestand aus zwei Phasen: einer 1.923 Kilometer langen mobilen Magnetotellurik-Umfrage aus der Luft und einem Diamantbohrprogramm mit 14 Löchern, das insgesamt 6.475 Meter umfasste. Neun der 14 Löcher trafen auf Goldmineralisierung, die weitere Untersuchungen rechtfertigt. Agnico hat seit 2020 etwa 5,5 Millionen Dollar in die Erkundung des Grundstücks investiert, wobei noch 2,0 Millionen Dollar verbleiben, um einen anfänglichen Anteil von 50 % zu erwerben.
- 9 out of 14 drill holes intercepted gold mineralization
- Multiple high-grade gold intersections including 9.95 g/t Au over 0.5m
- Agnico Eagle committed to significant investment ($5.5M invested, $2.0M remaining)
- Gold intersections are relatively narrow and modest grade for a bulk mining scenario
- No indication of large-scale mineralized system yet discovered
TORONTO, March 13, 2025 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX: WM, OTCQB: WLBMF) (“Wallbridge” or the “Company”) is pleased to announce that it has received final assay results from the 2024 exploration drilling program carried out by Agnico Eagle Mines (“Agnico”) on the Detour East property located approximately 55 kilometres west of its
Assay highlights include:
- 9.95 g/t Au over 0.5 metres in hole DTE-24-55, which drilled a previously untested target located along the Sunday Lake Deformation Zone (“SLDZ”) within a few hundred metres of Wallbridge’s neighboring Casault property
- 1.34 g/t Au over 3.0 metres in hole DTE-24-64 plus 1.27 g/t Au over 3.7 metres and 2.57 g/t Au over 2.1 metres in hole DTE-24-65, drilled on a previously identified target located along an accessory structure 2 kilometres north of the SLDZ near the boundary with the Casault property
- 1.43 g/t Au over 5.0 metres, 5.79 g/t Au over 1.0 metre and 7.02 g/t Au over 3.5 metres in hole DTE-24-66 and 2.2 g/t Au over 2.4 metres in hole DTE-24-68, drilled on the historic Lynx target located along the Massicotte Deformation Zone (“MDZ”)
“We believe these positive drill results, in combination with the completion of the airborne geophysical survey, represent another significant step forward toward a new gold discovery in the northern Abitibi region,” commented Brian Penny, Wallbridge CEO. “Since entering into the Detour East option agreement in late 2020, Agnico has invested approximately
The 2024 exploration program at Detour East was conducted in two phases. The first involved the completion of a property-wide airborne Mobile Magnetotellurics (MT) geophysical survey totaling 1,923 line-kilometres to map bedrock lithology, structure and possible alteration and mineralization concealed beneath the extensive surficial overburden cover characteristic of the region. The results of the MT survey were used to identify prospective geologic and geophysical targets in proximity to the regional scale SLDZ, MDZ, and interpreted accessory fault structures as they extend across the northern and southern portions of the property.
The second phase involved the completion of a 14-hole diamond drilling program totaling 6,475 metres. Significant brittle-ductile style structural deformation hosting localized gold mineralization was intersected at multiple targets, confirming the locations of the main SLDZ and MDZ structures and accessory fault structures. Of the 14 holes drilled, 9 intercepted gold mineralization that may warrant further drilling. Gold mineralization occurs in association with quartz-sulfide and quartz-carbonate veining and breccia fillings. Additional details from the 2024 drilling program are provided in the summary table below:
| Detour East Gold Project: 2024 Drill Assay Highlights | |||||
| Drill Hole | From (m) | To (m) | Length (m) | Au (g/t) | Targeted Zone |
| DTE-24-55 | 198.0 | 198.5 | 0.5 | 9.95 | SLDZ |
| DTE-24-56 | 234.0 | 236.0 | 2.0 | 0.53 | SLDZ |
| DTE-24-57 | No significant assays reported | MDZ | |||
| DTE-24-58 | No significant assays reported | MDZ | |||
| DTE-24-59 | No significant assays reported | MDZ | |||
| DTE-24-60 | 231.0 | 233.0 | 2.0 | 0.50 | MDZ |
| DTE-24-61 | No significant assays reported | MDZ | |||
| DTE-24-62 | 102.6 | 103.6 | 1.0 | 2.26 | MDZ |
| 299.0 | 300.0 | 1.0 | 1.29 | ||
| DTE-24-63 | 118.0 | 118.9 | 0.9 | 1.85 | MDZ |
| DTE-24-64 | 97.0 | 98.0 | 1.0 | 1.18 | SLDZ |
| 188.0 | 194.3 | 6.3 | 0.72 | ||
| 223.0 | 226.5 | 3.5 | 0.45 | ||
| 251.0 | 253.0 | 2.0 | 0.75 | ||
| 267.0 | 270.5 | 3.5 | 0.87 | ||
| 431.0 | 434.0 | 3.0 | 1.34 | ||
| DTE-24-65 | 183.3 | 187.0 | 3.7 | 1.27 | SLDZ |
| 209.8 | 211.9 | 2.1 | 2.57 | ||
| DTE-24-66 | 87.0 | 92.0 | 5.0 | 1.43 | MDZ |
| 115.0 | 116.0 | 1.0 | 5.79 | ||
| 123.0 | 126.5 | 3.5 | 7.02 | ||
| 129.2 | 130.1 | 0.9 | 1.58 | ||
| DTE-24-67 | No significant assays reported | MDZ | |||
| DTE-24-68 | 88.0 | 89.0 | 1.0 | 1.25 | MDZ |
| 93.5 | 96.3 | 2.8 | 0.70 | ||
| 124.5 | 126.9 | 2.4 | 2.20 | ||
| 132.3 | 137.7 | 5.4 | 0.57 | ||
| Notes | |||||
| 1 Assay results are presented in summary format as reported by Agnico to Wallbridge. | |||||
| 2 As these are exploration results, accurate estimation of true interval widths have not been determined. | |||||
Links to a drill hole location map and an example cross-section for drill holes reported in this news release are provided here: Detour East Project: 2024 Drill Hole Location Map & Cross-Sections
The Detour East property is a 231 km2 claim block that comprises part of the Company’s 830 km2 Detour-Fenelon Gold Project land package. It covers approximately 20 km of the SLDZ and approximately 15 km of the MDZ as they extend east from the Québec-Ontario border. Under terms of the Detour East option agreement, Agnico has the option to acquire an initial
Upon Agnico exercising its option to earn the initial
Quality Assurance / Quality Control
Agnico Eagle Mines Limited maintains a Quality Assurance/Quality Control ("QA/QC") program for all its exploration projects using industry best practices. Key elements of the QA/QC program include verifiable chain of custody for samples, regular insertion of blanks and certified reference materials, and completion of secondary check analyses performed at a separate independent accredited laboratory.
Drill core is halved and shipped in sealed bags to ALS Minerals in Timmins, Ontario for sample preparation. Samples are logged in the tracking system, weighed, dried, and finely crushed to better than
A 200g split is sent to ALS Minerals in Vancouver for analysis. Samples are assayed for gold using fire assay techniques on a 50 g sample with atomic absorption spectroscopy finish (Au-AA24). Samples with >10 g/t Au are reanalyzed with a gravimetric finish (Au-GRA22). Samples containing visible gold are analyzed using a screen metallics procedure and followed with a silica wash of equipment per request by Exploration personnel. A high-grade standard is placed before the sample with visible gold within the previous 10 samples and a blank sample is inserted immediately after the sample with visible gold.
ALS Minerals operates under a Quality Management System that conforms to the requirements of ISO/IEC 17025.
Qualified Person
The Qualified Person responsible for the technical content of this news release is Mr. Mark A. Petersen, M.Sc., P.Geo. (OGQ AS-10796: PGO 3069), Senior Exploration Consultant for Wallbridge.
About Wallbridge Mining
Wallbridge is focused on creating value through the exploration and sustainable development of gold projects in Québec’s Northern Abitibi region while respecting the environment and communities where it operates. The Company holds a contiguous mineral property position totaling 830 km2 that extends approximately 97 kilometers along the Detour-Fenelon gold trend. The property is host to the Company’s flagship PEA stage Fenelon Gold Project, and its earlier exploration stage Martiniere Gold Project.
For further information please visit the Company’s website at https://wallbridgemining.com/ or contact:
| Brian Penny, CPA, CMA CEO Email: bpenny@wallbridgemining.com M: +1 416 716 8346 | Tania Barreto, CPIR Director Investor Relations Email: tbarreto@wallbridgemining.com M: +1 289 819 3012 | |
Cautionary Note Regarding Forward-Looking Information
The information in this document may contain 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 document.
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, but are not limited to, 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 in this document may include, but is not limited to: exploration by Agnico or the Company on the Detour East property; the Company’s exploration plans; the future prospects of Wallbridge; statements regarding the results of the PEA; 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 (“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 document 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 in this document to reflect new events or circumstances. Unless otherwise noted, this document has been prepared based on information available as of the date of this document. 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 results of exploration activities, the Company’s financial position and general economic conditions; 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 and in the PEA; the ability of the Company to obtain required approvals; geological, mining and exploration technical problems; and failure of equipment or processes to operate as anticipated; the evolution of the global economic climate; metal prices; foreign exchange rates; environmental expectations; community and non-governmental actions; and, the Company’s ability to secure required funding. Risks and uncertainties about Wallbridge's business are discussed in the disclosure materials filed with the securities regulatory authorities in Canada, which are available at www.sedarplus.ca.
Cautionary Notes to United States Investors
Wallbridge prepares its disclosure in accordance with NI 43-101 which differs from the requirements of the U.S. Securities and Exchange Commission (the "SEC"). Terms relating to mineral properties, mineralization and estimates of mineral reserves and mineral resources and economic studies used herein are defined in accordance with NI 43-101 under the guidelines set out in CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the Canadian Institute of Mining, Metallurgy and Petroleum Council on May 19, 2014, as amended. NI 43-101 differs significantly from the disclosure requirements of the SEC generally applicable to US companies. As such, the information presented herein concerning mineral properties, mineralization and estimates of mineral reserves and mineral resources may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder.
Wallbridge Mining Detour – Fenelon Gold Trend Properties
| Detour East Property – 2024 Drill Hole Locations | |||||||||||||
| Hole ID | Northing UTM_N | Easting UTM_E | Elevation (masl) | Depth (m) | Azimuth (Degrees) | Dip (Degrees) | Hole ID | Northing UTM_N | Easting UTM_E | Elevation (masl) | Depth (m) | Azimuth (Degrees) | Dip (Degrees) |
| DTE-24-55 | 5536321 | 624700 | 252 | 564 | 320 | 52 | DTE-24-62 | 5533178 | 616235 | 244 | 510 | 200 | 52 |
| DTE-24-56 | 5537731 | 621743 | 252 | 409 | 220 | 52 | DTE-24-63 | 5533306 | 615975 | 259 | 450 | 220 | 52 |
| DTE-24-57 | 5532842 | 618184 | 255 | 447 | 190 | 52 | DTE-24-64 | 5540603 | 626990 | 261 | 510 | 172 | 52 |
| DTE-24-58 | 5532553 | 619418 | 254 | 540 | 20 | 52 | DTE-24-65 | 5540422 | 627011 | 261 | 402 | 172 | 52 |
| DTE-24-59 | 5533335 | 620237 | 255 | 600 | 205 | 52 | DTE-24-66 | 5532861 | 617812 | 255 | 402 | 0 | 58 |
| DTE-24-60 | 5533069 | 620580 | 255 | 489 | 180 | 52 | DTE-24-67 | 5532861 | 617812 | 255 | 300 | 0 | 76 |
| DTE-24-61 | 5532923 | 621202 | 256 | 552 | 200 | 52 | DTE-24-68 | 5532861 | 617812 | 255 | 300 | 340 | 58 |
| Note: Coordinate system UTM NAD 83, Zone 17 | |||||||||||||
Wallbridge Mining - Detour East Property – Agnico Eagle Mines Option
2024 Drill Hole Locations
Wallbridge Mining - Detour East Property – Agnico Eagle Mines Option
Cross Section – Drill Holes DTE-24-64 & 65, DTE-18-42A
Wallbridge Mining - Detour East Property – Agnico Eagle Mines Option
Cross Section – Drill Holes DTE-24-66, 67 & 68
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/45ce6add-f526-4343-b615-802ca9456d4b
https://www.globenewswire.com/NewsRoom/AttachmentNg/a2799adf-1f00-4cd2-ba64-bb11174131d1
https://www.globenewswire.com/NewsRoom/AttachmentNg/93087d87-f31b-4bb7-aab9-cb153539ebf1
https://www.globenewswire.com/NewsRoom/AttachmentNg/2c67a194-d2c2-450f-bc2d-db36a9f441da
FAQ
What are the latest gold drilling results from Wallbridge Mining's (WLBMF) Detour East property?
How much has Agnico Eagle invested in the Detour East property exploration?
What were the two phases of Wallbridge's (WLBMF) 2024 Detour East exploration program?
How can Agnico Eagle earn a 75% interest in Wallbridge's (WLBMF) Detour East property?
