12:24 PM EST, 12/13/2017 (MT Newswires) -- Wallbridge Mining (WM.TO) said Wednesday exploration drilling at its Fenelon gold property in Quebec identified areas of high-grade gold mineralization.

The company said from the final six drill holes from its 2017 exploration program at the site extended the area of the deposit by 120 meters and identified two new gold-bearing structures. Four of the holes intersected areas of high mineralization and three of those contained visible gold.

"The results of the 2017 drilling, along with geological and structural modelling and reinterpretation of the deposit, have led to an expanded exploration target of an additional 70,,000 (to) 120,000 ounces gold within 150,000 to 375,000 tonnes grading between 10 to 15 (grams of gold per tonne) immediately adjacent to the existing infrastructure," the company said in a release.

Wallbridge shares were up $0.005 to $0.11 at last look on the Toronto Stock Exchange, about the midpoint of the stock's 52-week trading band.