September 21, 2011
Wallbridge Advances Pipeline of Copper, Nickel, Platinum and Palladium Projects in Sudbury
Highlights:
Broken Hammer feasibility study and updated resource estimate to be initiated.
Parkin drilling in progress, testing up-plunge of Milnet 1500 zone discovery.
Approval of $1.5 million SCJV program announced, $1.25 funded by Lonmin Plc.
Over 6,600 metres drilling across Sudbury projects for remainder of 2011.
Toronto, Ontario - September 21, 2011- Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) ("Wallbridge") today provided an overview of progress on its pipeline of copper, nickel, platinum and palladium exploration and development interests in Sudbury and announced that over 6,600 metres of drilling is budgeted and in progress on its Sudbury area projects.
"We are excited by both the near term and blue-sky potential of our pipeline of Sudbury projects" stated Alar Soever, CEO of Wallbridge, "We look forward to advancing these projects with our recently strengthened management team including Marz Kord who recently joined us as President. Marz and I look forward to un-tapping the potential in our Sudbury projects."
The 30,500 tonne bulk sample excavated from the Broken Hammer copper, platinum and palladium resource in early 2011 has now been processed by Xstrata's Strathcona Mill and a feasibility study is being commissioned. Final results from processing of the bulk sample are expected to be available in a few weeks. The feasibility study, including a new resource estimate using current short to medium term metal prices, as well as permitting is expected to be completed in 2012.
On the Parkin Offset dyke properties being explored with partners Impala Platinum Holdings Limited, a 2,700 metre drill program, including wedge-cuts, has been initiated on the Milnet Mine property to test electromagnetic conductors on the up-plunge projection of the Milnet 1500 zone -- a high grade nickel, copper, platinum and palladium sulfide zone discovered in late 2009.
On the East Range of the Sudbury basin, approximately 2,000 metres of drilling are budgeted for the remainder of 2011 to follow-up platinum, palladium and gold mineralisation discovered previously by Wallbridge at Amy Lake on its 60% owned Frost Lake, a joint venture with partner Xstrata Nickel.
Also on the East Range, 400 metres of drilling are budgeted on the 100% owned Skynner Lake property being explored with partners Lonmin Plc. This will test a conductive target within a Sudbury breccia structure that has been mapped extending outwards from Quadra FNX's adjacent Podolsky mine. The conductor was identified by the deep-penetrating InfiniTEM electromagnetic survey conducted on the property by Abitibi Geophysics this spring.
On the North Range, mapping and sampling this summer has identified copper, nickel, platinum and palladium mineralisation within inclusion bearing quartz diorite phases of the Hess Offset dyke and extended the structure over an additional strike length of 9 km's in an area where no prior exploration is recorded. Wallbridge now controls over 37 km's of this mineralised structure across several 100% owned and joint venture properties. Over 1,000 km's of airborne geophysics and 80 km's of deep penetrating ground geophysics were completed on the mineralised Hess Offset Dyke this summer. 1500 metres of drilling are budgeted to test targets over the remainder of 2011.
The Qualified Person responsible for the technical content of this press release is Alar Soever, CEO for Wallbridge Mining Company Limited.
