Wallbridge Announces 2025 Fenelon, Martiniere and Regional Exploration Programs
Wallbridge Mining (TSX: WM, OTCQX: WLBMF) has announced its fully-funded 2025 technical studies and exploration programs for its Fenelon Gold and Martiniere Gold projects in northwestern Quebec. The company plans to complete an updated Preliminary Economic Assessment (PEA) for Fenelon in Q1 2025, evaluating a phased development approach with lower initial production rates to reduce costs.
The company's cash balance stood at $21.2 million as of December 31, 2024. For 2025, 65-80% of planned drilling will focus on the Martiniere gold system, with 10,000-15,000 meters of drilling planned. The remaining 20-35% will be allocated to regional exploration, including 3,000-5,000 meters of drilling to discover new gold mineralization zones along the Detour-Fenelon gold trend within their 830 km² property.
Drilling at Martiniere will be conducted in two phases, with a pause between May and July for the Caribou calving season.
Wallbridge Mining (TSX: WM, OTCQX: WLBMF) ha annunciato i suoi studi tecnici e programmi di esplorazione per il 2025, totalmente finanziati, per i progetti Fenelon Gold e Martiniere Gold nel nord-ovest del Quebec. L'azienda prevede di completare una Valutazione Economica Preliminare (PEA) aggiornata per Fenelon nel Q1 2025, valutando un approccio di sviluppo fase per fase con tassi di produzione iniziali più bassi per ridurre i costi.
Il saldo di cassa dell'azienda era di 21,2 milioni di dollari al 31 dicembre 2024. Per il 2025, il 65-80% delle perforazioni pianificate sarà concentrato sul sistema oro Martiniere, con 10.000-15.000 metri di perforazione previsti. Il restante 20-35% sarà dedicato all'esplorazione regionale, inclusi 3.000-5.000 metri di perforazione per scoprire nuove zone di mineralizzazione aurifera lungo il trend oro Detour-Fenelon all'interno della loro proprietà di 830 km².
Le perforazioni a Martiniere saranno condotte in due fasi, con una pausa tra maggio e luglio per la stagione di parto dei caribù.
Wallbridge Mining (TSX: WM, OTCQX: WLBMF) ha anunciado sus estudios técnicos y programas de exploración completamente financiados para 2025 en sus proyectos de Fenelon Gold y Martiniere Gold en el noroeste de Quebec. La empresa planea completar una Evaluación Económica Preliminar (PEA) actualizada para Fenelon en el primer trimestre de 2025, evaluando un enfoque de desarrollo por fases con tasas de producción iniciales más bajas para reducir costos.
El saldo de caja de la empresa era de 21,2 millones de dólares al 31 de diciembre de 2024. Para 2025, el 65-80% de las perforaciones planificadas se centrará en el sistema de oro Martiniere, con 10,000-15,000 metros de perforación proyectados. El 20-35% restante se asignará a la exploración regional, incluyendo 3,000-5,000 metros de perforación para descubrir nuevas zonas de mineralización de oro a lo largo de la tendencia de oro Detour-Fenelon dentro de su propiedad de 830 km².
La perforación en Martiniere se llevará a cabo en dos fases, con una pausa entre mayo y julio por la temporada de parto de caribúes.
월브리지 마이닝 (TSX: WM, OTCQX: WLBMF)는 북서 퀘벡에 있는 페넬론 금 및 마르티니에르 금 프로젝트에 대한 2025년 기술 연구 및 탐사 프로그램을 전액 자금 지원을 통해 발표했습니다. 이 회사는 비용 절감을 위해 초기 생산 속도를 낮춘 단계적 개발 접근 방식을 평가하는 예비 경제성 평가 (PEA)를 2025년 1분기 내에 완료할 계획입니다.
회사의 현금 잔고는 2024년 12월 31일 기준으로 2,120만 달러였으며, 2025년에는 계획된 드릴링의 65-80%가 마르티니에르 금 시스템에 집중될 예정이며, 10,000-15,000미터의 드릴링이 계획되어 있습니다. 나머지 20-35%는 지역 탐사에 배정되어, 830 km²의 부지 내에서 Detour-Fenelon 금 트렌드를 따라 새로운 금 광체를 발견하기 위해 3,000-5,000미터의 드릴링이 포함됩니다.
마르티니에르에서의 드릴링은 두 단계로 진행되며, 5월과 7월 사이에는 카리부 새끼 출산기휴가가 있습니다.
Wallbridge Mining (TSX: WM, OTCQX: WLBMF) a annoncé ses études techniques et programmes d'exploration entièrement financés pour 2025 concernant ses projets de Fenelon Gold et Martiniere Gold dans le nord-ouest du Québec. L'entreprise prévoit de compléter une Évaluation Économique Préliminaire (PEA) mise à jour pour Fenelon au premier trimestre 2025, en évaluant une approche de développement par étapes avec des taux de production initiaux plus bas pour réduire les coûts.
Le solde de trésorerie de l'entreprise s'élevait à 21,2 millions de dollars au 31 décembre 2024. Pour 2025, 65-80 % des forages prévus seront concentrés sur le système aurifère de Martiniere, avec 10 000 à 15 000 mètres de forages prévus. Les 20-35 % restants seront consacrés à l'exploration régionale, y compris 3 000 à 5 000 mètres de forage pour découvrir de nouvelles zones de minéralisation aurifère le long de la tendance aurifère Detour-Fenelon dans leur propriété de 830 km².
Les forages à Martiniere seront réalisés en deux phases, avec une pause entre mai et juillet pour la saison de mise bas des caribous.
Wallbridge Mining (TSX: WM, OTCQX: WLBMF) hat seine vollständig finanzierten technischen Studien und Explorationsprogramme für 2025 für die Fenelon Gold und Martiniere Gold Projekte im Nordwesten von Quebec angekündigt. Das Unternehmen plant, im 1. Quartal 2025 eine aktualisierte Vorläufige Wirtschaftlichkeitsbewertung (PEA) für Fenelon abzuschließen, die einen schrittweisen Entwicklungsansatz mit niedrigeren Anfangsproduktionsraten zur Kostensenkung bewertet.
Der Kassenstand des Unternehmens betrug zum 31. Dezember 2024 21,2 Millionen US-Dollar. Für 2025 wird sich 65-80% der geplanten Bohrungen auf das Martiniere-Gold-System konzentrieren, wobei 10.000-15.000 Meter Bohrungen geplant sind. Die verbleibenden 20-35% werden der regionalen Erkundung zugewiesen, einschließlich 3.000-5.000 Meter Bohrungen zur Entdeckung neuer Goldmineralisierungszonen entlang des Detour-Fenelon-Goldtrends innerhalb ihres 830 km² großen Grundstücks.
Die Bohrungen bei Martiniere werden in zwei Phasen durchgeführt, mit einer Pause zwischen Mai und Juli zur Kalbungszeit der Karibus.
- Fully funded 2025 exploration program with $21.2M cash balance
- Updated PEA for Fenelon project planned for Q1 2025
- Phased development approach to reduce initial capital and operating costs
- Extensive drilling program planned (10,000-15,000m at Martiniere)
- None.
TORONTO, Jan. 22, 2025 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX: WM, OTCQX: WLBMF) (“Wallbridge” or the “Company”) today announced its fully-funded 2025 technical studies and exploration programs at its flagship Fenelon Gold (“Fenelon”) and Martiniere Gold (“Martiniere”) projects, as well as regional gold targets located within the Wallbridge land package in northwestern Quebec.
Key elements of the 2025 program include the expected completion of an updated Preliminary Economic Assessment (“PEA”) for the Fenelon project, continued exploration step-out drilling along known and potential extensions to the Bug Lake gold deposit at its Martiniere project, and generative exploration to test prospective greenfields targets within its 830 km2 property position along the Detour-Fenelon gold trend.
Updated Fenelon PEA
In Q1 2025 the Company plans to continue the advancement of its Fenelon project with the completion of an updated PEA which will build upon the results of the previously completed PEA (completed in June 2023). Wallbridge is currently evaluating a phased development approach involving a lower initial production rate to reduce up front capital and operating costs and then eventually transitioning to a larger scale operation.
The Company’s technical team and Consultants are completing a range of trade-off studies that are focused on optimizing the underground mining, processing, and surface infrastructure plans based on updated capital and operating costs, and an updated mineral resource estimate for the Fenelon deposit. The results of these studies are being incorporated into the updated PEA which will be presented in an NI 43-101 Technical Report scheduled for completion before the end of the first quarter of 2025. Wallbridge’s 2025 exploration program and the technical studies currently underway are fully funded. The Company’s cash balance as at December 31, 2024 was
“We believe that 2025 will be an important and transformational year for Wallbridge. By leveraging off of the results of the 2023 PEA for Fenelon and our 2024 exploration program at Martiniere, our technical studies and exploration teams continue to identify opportunities to unlock significant value at Fenelon, Martiniere and our broader portfolio of greenfields exploration targets. In 2025, approximately
2025 Exploration Program
Martiniere Exploration & Resource Growth
Results returned from the 2024 drilling program at Martiniere included multiple high grade gold intercepts from three satellite exploration targets along the Bug Lake structural deformation corridor within 100 to 500 metres on the currently defined mineral resource (see Wallbridge news releases dated July 31, 2024 and November 6, 2024).
During 2025 the Company plans to follow up on these positive results by completing an additional 10,000 to 15,000 m of drilling to further explore the Martiniere gold system and potentially expand the mineral resource. A first phase of drilling is planned to be completed from early March until May when exploration activities will pause for two months in observance of the annual Caribou calving season. Based on the results of the first drilling phase, a second phase is planned to commence during the latter half of July.
Fenelon, Martiniere & Regional Greenfields Exploration
Regionally, approximately 3,000 to 5,000 metres of drilling and related field mapping is planned with the objective of discovering new zones of prospective gold mineralization from the Company’s growing pipeline of exploration targets along the Detour-Fenelon gold trend.
Figure 1. Wallbridge Detour-Fenelon Gold Trend Land Package
(Highlighting the currently planned 2025 exploration target areas)
Qualified Persons
The Qualified Persons responsible for the technical content of this news release are Mark A. Petersen, M.Sc., P.Geo. (OGQ AS-10796; PGO 3069), Senior Exploration Consultant for Wallbridge and Francois Chabot, M. Sc., Eng. (OIQ 43977), Manager of Technical Studies for Wallbridge.
About Wallbridge Mining
Wallbridge is focused on creating value through the exploration and sustainable development of gold projects along the Detour-Fenelon gold trend in Québec’s Northern Abitibi region while respecting the environment and communities where it operates.
Wallbridge’s most advanced projects, Fenelon Gold (“Fenelon”) and Martiniere Gold (“Martiniere”) incorporate a combined 3.05 million ounces of indicated gold resources and 2.35 million ounces of inferred gold resources. Fenelon and Martiniere are located within an 830 km2 exploration land package in the Northern Abitibi region of Quebec.
Wallbridge has reported a positive Preliminary Economic Assessment (“PEA”) at Fenelon that estimates average annual gold production of 212,000 ounces over 12 years.
For further information please visit the Company’s website at https://wallbridgemining.com/ or contact:
Wallbridge Mining Company Limited
Brian Penny, CPA, CMA
CEO
Tel: (416) 716-8346
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: statements regarding the results of the PEA or updated PEA; the potential future performance of the Common Shares; 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’s”) at Fenelon and Martiniere (collectively the “Deposits”); the prospects, if any, of the Deposits; future exploration and drilling at the Deposits and elsewhere; 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; 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ae981d65-cb83-42cf-9c8e-2b1ef6e50461
FAQ
What is Wallbridge Mining's (WLBMF) cash position as of December 2024?
How many meters of drilling is planned for Martiniere Gold project in 2025?
When will Wallbridge Mining (WLBMF) complete the updated Fenelon PEA?
What percentage of Wallbridge's 2025 drilling program will focus on Martiniere?
How large is Wallbridge Mining's property along the Detour-Fenelon gold trend?
