Waste Management(US:WM) Globenewswire·2025-01-22 12:00Core Viewpoint - Wallbridge Mining Company Limited has announced its fully-funded 2025 technical studies and exploration programs at its Fenelon and Martiniere gold projects, along with regional gold targets in northwestern Quebec [1][2]. 2025 Program Overview - The 2025 program includes the completion of an updated Preliminary Economic Assessment (PEA) for the Fenelon project, continued exploration drilling at the Martiniere project, and generative exploration for new targets within its 830 km property along the Detour-Fenelon gold trend [2][3]. - The updated PEA for Fenelon will build on the previous PEA completed in June 2023, focusing on a phased development approach to optimize capital and operating costs [3][4]. Financial Position - Wallbridge's cash balance as of December 31, 2024, was $21.2 million, ensuring that the 2025 exploration program and technical studies are fully funded [4]. Exploration Focus - Approximately 65% to 80% of the planned drilling program in 2025 will target the Martiniere gold system, with the remaining 20% to 35% allocated to new discovery opportunities [5]. - The 2024 drilling program at Martiniere returned multiple high-grade gold intercepts, prompting an additional 10,000 to 15,000 meters of drilling in 2025 to further explore and potentially expand the mineral resource [6][7]. Regional Exploration - The company plans to conduct 3,000 to 5,000 meters of drilling and related field mapping regionally to discover new zones of gold mineralization along the Detour-Fenelon gold trend [8]. Resource Estimates - Wallbridge's Fenelon and Martiniere projects contain a combined 3.05 million ounces of indicated gold resources and 2.35 million ounces of inferred gold resources, with Fenelon projected to produce an average of 212,000 ounces of gold annually over 12 years according to the positive PEA [12].