2025 Drilling Program Confirms Robust Mineralized Gold System Offering Significant Growth Potential at Martiniere
None
On November 17, 2025, Wallbridge Mining announced the final results from its 2025 Phase 2 drilling program at the Martiniere Gold Project in Quebec. The program, which drilled 17,411 metres across 37 holes, confirmed a robust, mineralized gold system with significant growth potential.
Key high-grade intercepts include: - MR-25-140: 50.80 g/t Au over 1.7 metres and 28.90 g/t Au over 2.0 metres. - MR-25-135: 31.78 g/t Au over 1.0 metre and 7.00 g/t Au over 2.5 metres. - MR-25-136: 15.56 g/t Au over 1.4 metres. - MR-25-133: 9.14 g/t Au over 3.0 metres and 9.53 g/t Au over 2.6 metres.
The CEO, Brian W. Penny, stated that the results confirm a larger geologic footprint with strong potential for future resource growth at Martiniere. He also highlighted the successful delivery of a new PEA for the flagship Fenelon project and the closing of a $15.1 million financing in 2025 as key milestones.
The final drill results from the 2025 Martiniere program are materially positive. They cap a year of successful exploration at the project, consistently delivering high-grade intercepts and confirming the expansion potential of the gold system. The results from hole MR-25-140 are particularly strong and demonstrate the high-grade nature of the deposit. This news validates the company's exploration strategy and reinforces Martiniere's potential as a valuable secondary asset that could complement the flagship Fenelon project.
Reviewing the historical news flow, the company has methodically advanced its projects in 2025: - January 2025: Outlined a clear strategy for the year, focusing on an updated PEA for Fenelon and a 10,000-15,000 metre drill program at Martiniere. - March 2025: Delivered the updated Fenelon PEA as promised. - June-September 2025: Released a steady stream of positive, high-grade drill results from Martiniere (June 2, July 2, Sept 29), building confidence in the asset and driving a significant share price increase from $0.05 to a high of $0.14. - October 2025: Significantly strengthened the balance sheet through an $8 million asset sale (Detour East), receipt of $4.7 million in tax credits, and the announcement and closing of a $15.1 million public offering.
The current news release is the successful culmination of the Martiniere exploration plan. It confirms that the money spent on drilling was effective and that the mineralized system remains open for further expansion. Critically, these results provide positive momentum following the recent financing, which was priced at $0.11 and $0.15 per unit, above the current share price. While the stock has pulled back since the financing was announced, these strong operational results provide fundamental support.
Financially, the company is now in a strong position. The Q3 financials (ending Sept 30, 2025) showed a cash balance of only $6.6 million, which was a major concern. However, with the subsequent inflow of ~$27.8 million ($15.1M financing + $8M asset sale + $4.7M tax credits), the company is well-funded to execute its 2026 programs without immediate financing pressure. This de-risks the company's short-term outlook considerably.
Wallbridge Mining is a Canadian gold exploration company focused on advancing its properties in the Abitibi Greenstone Belt of Quebec. - Flagship Project (Fenelon): The Fenelon Gold Project is the company's primary asset. A March 2025 Preliminary Economic Assessment (PEA) outlined a 16-year mine life with an average annual production of 107,000 ounces of gold. The project has a post-tax NPV (5%) of $706 million and an IRR of 21% using a $2,200/oz gold price. However, it requires a substantial initial capital expenditure of $579 million. - Secondary Project (Martiniere): Located 30 km west of Fenelon, Martiniere is a significant gold project in its own right and was the focus of the successful 2025 exploration program. It holds the potential to act as a satellite deposit to a central Fenelon operation.