Among the highlights, Wallbridge hit 1.78m at 60.56g/t gold within 11.04m at 17.58g/t from 665.7m.

"The intersection in FA-19-059 reported today is the deepest high-grade gold hit so far on the property and extends the known mineralisation in the Main Gabbro to almost 600m vertical depth," exploration vice president Attila Péntek said.

The company said assays were pending for other intersections containing visible gold and gold-bearing zones.

Wallbridge recently completed a 35,000 tonne bulk sampling programme at Fenelon and is working on an updated resource and economic analysis to support a production decision in early 2020.

The company said one underground and two surface rigs had already drilled more than 17,000m in the 2019 exploration programme, and a further 8,900m had been drilled for the ongoing resource programme.

Sprott invested a further C$7 million (US$5.2 million) in the company in May at 24c per share, taking his stake to about 24.9%.
 
Wallbridge shares were trading about 7c a year ago.

They are close to a 47c high reached in April, last trading at 41.5c to capitalise it about $185 million (US$141 million).