It said the first of five wedge cuts, which also intersected 19.85m at 16.33g/t including 7.9m at 38.67g/t, confirmed the presence of high-grade mineralisation 25m above a December intercept, which had graded 48.01m at 22.73g/t.

The company said it had given consideration to increasing the scope and size of its planned, fully-funded C$112 million 2020-21 exploration programmes, to be able "to fully assess the ultimate size potential of this rapidly growing gold system".

It's aiming to establish a maiden resource for Fenelon by the third quarter of next year.

About 10-15% of the total drilling programme was earmarked for regional exploration at its district-scale land package over the Detour-Fenelon gold trend, which was expanded through its recent acquisition of neighbour Balmoral Resources.

Wallbridge is backed by Kirkland Lake Resources (9.9%) and Eric Sprott (20.7%).

It had raised $63.8 million in an oversubscribed bought-deal financing, priced at $1.15 per share, earlier this month. 

Wallbridge shares (TSX: WM) have increased four-fold this year, from 32.5c to $1.35.

They closed up 1% yesterday to 93c, valuing it at $733.4 million (US$556 million).