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Wallbridge reveals Beschefer Project drilling results

Wallbridge Mining Company Limited (TSX:WM, FWB:WC7) (“Wallbridge” or the “Company”) is pleased to announce positive results from its initial drill program at the recently-optioned Beschefer gold property (“Beschefer” or “Beschefer Project“) in Quebec.The majority of assays from the Company’s first drill program at the Beschefer Project, consisting of five drill holes for a total of approximately 1,600 metres, have now been received.

  • All holes intersected significant gold mineralization in the B-14 shear zone, proving excellent geological continuity of this gold-bearing structure:

BE-18-048:     

2.55 g/t gold over 20.01 metres, including 3.47 g/t gold over 10.28 metres and 
5.90 g/t gold over 2.16 metres  

BE-18-049:    

0.93 g/t gold over 20.25 metres, including 2.05 g/t gold over 5.17 metres

BE-18-050: 

1.28 g/t gold over 8.15 metres

BE-18-051:

3.40 g/t gold over 2.29 metres

BE-18-052:   

1.45 g/t gold over 6.42 metres and 0.84 g/t gold over 10.20 metres 

  • Drill hole BE-18-049 also intersected a narrow, high-grade shear zone above the B-14, assaying 20.22 g/t Au over 0.50 metres. Further sampling of secondary shear zones above the B-14 is currently underway.

“We are pleased with the assay results of our initial drill program confirming the presence of a very continuous, up to 20 m wide, gold-bearing structure,” stated Attila Péntek, Vice-President, Exploration of Wallbridge. “Even though we did not intersect high-grade domains in this structure like some of the historic drilling, we certainly achieved our goal of proving the continuity and predictability of the B-14 structure. As a next step, we are working on an updated 3D geological model of the project to better understand the controls on gold deposition and are planning a more substantial drill program to outline the high-grade domains and establish an initial resource.”

About the Beschefer Project

The Beschefer Project covers 647 hectares and is located in the Northern Abitibi Greenstone Belt, 14 km east of the past-producing polymetallic Selbaie Mine, 45 km northeast of the Casa Berardi Mine and 28 km from Wallbridge’s Fenelon Gold Property. Historically, the area has mainly been explored for volcanogenic massive sulfide deposits similar to the Matagami camp and the Selbaie Mine.

Gold mineralization was discovered in the B-14 Zone in 1995 by Billiton Canada Inc. but the property saw very limited exploration before the involvement of Excellon between 2011 and 2013. Excellon completed approximately 17,000 metres of drilling, extending the B-14 mineralization down to almost 600 metres vertical depth, discovering the upper shear zone and intersecting the highest-grade intersections on the property, including 55.63 g/t gold over 5.57 metres and 13.07 g/t gold over 8.75 metres. Excellon’s primary focus is on production and exploration at its Platosa Mine and Miguel Auza Property in Mexico. Up to Wallbridge’s current program there has been no exploration at Beschefer since 2013.

Wallbridge entered into an option agreement to acquire 100% of Beschefer as part of its strategy of building a gold production pipeline in the emerging Sunday Lake-Selbaie Belt (see Wallbridge press release dated October 17, 2018).

 

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