Drilling extended gold mineralisation 500m to the west and 850m to the south of Area 51, a vein network, which along with the Tabasco, Cayenne and Gabbro zones, form parts of a large gold system which has been traced for over 1.8km.
"The new, greatly expanded, footprint of the Fenelon gold system, together with our ongoing infill and step-out drilling programme on the original Area 51, Tabasco and Cayenne areas, dictate that we need to consider a significant increase and acceleration of our drilling programme to define the full potential of what is rapidly becoming a very large system with multi-million ounce resource potential," said president and CEO Marz Kord.
Drilling highlights included 0.6m grading 106 grams per tonne and 5.7m grading 6.76g/t.
Through August, Wallbridge had completed about 63,000m of a planned 100,000m drilling programme for 2020. Five of six drill rigs are focused on expanding the Tabasco-Cayenne-Area 51 mineralisation on the original Fenelon property, with 50-100m step-outs and tighter-spaced in-fill drilling.
A sixth drill rig is active on the newly-acquired portion of Fenelon to test the connection of the Tabasco-Cayenne-Area 51 gold system to the Ripley-Reaper Area and the Sunday Lake Deformation Zone.
Shares in Wallbridge Mining are trading at C$1.10, valuing the company at $774 million.