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Wallbridge finds new Ni-Cu mineralization at Frost Lake
2006-04-05 07:04 ET - News Release
Mr. Alar Soever reports
WALLBRIDGE INTERSECTS NICKEL IN SUDBURY EAST RANGE FOOTWALL
Wallbridge Mining Company Ltd. has intersected a new zone of nickel-copper mineralization on its Frost Lake property, on the East range of the Sudbury igneous complex. Drill hole WC-024, which targeted an off-hole pulse EM anomaly, intersected:
16.00 metres averaging 0.482 per cent nickel and 0.272 per cent copper, between 93.0 and 109.0 metres downhole. Included in this wider intercept are:
2.36 metres containing 1.472 per cent nickel and 0.630 per cent copper from 105.00 to 107.36 meters; and
1.10 metres containing 1.620 per cent nickel and 0.292 per cent copper from 97.00 to 98.10 metres.
More detailed assay results are tabulated below.
This new nickel discovery is the result of follow-up of a VTEM airborne electromagnetic anomaly. WC-022, the first hole drilled to test the anomaly, intersected 102 metres of previously undocumented mafic-ultramafic and anorthositic rocks, locally containing trace disseminations, and blebs of pyrrhotite, pentlandite and chalcopyrite. The discovery hole, WC-024, was targeted based on the results of a Crone downhole pulse EM survey in WC-022.
Airborne magnetic data and a recently completed induced polarization survey indicate that the ultramafic unit may have a strike length greater than 700 metres. Further borehole geophysics and follow-up drilling re planned.
WC-024 DRILLING HIGHLIGHTS
FROST LAKE ULTRAMAFIC
From To Length Ni Cu S
m m m % % %
93.00 109.00 16.00 0.48 0.27 1.70
Incl. 93.00 94.50 1.50 0.12 0.08 1.18
And 94.50 95.40 0.90 0.11 0.06 0.86
And 95.40 96.00 0.60 0.38 0.19 2.49
And 96.00 97.00 1.00 0.21 0.28 2.67
And 97.00 98.10 1.10 1.62 0.29 over
And 98.10 98.75 0.65 0.04 0.02 0.25
And 98.75 99.15 0.40 0.06 2.00 2.20
And 99.15 100.00 0.85 0.47 0.49 3.25
And 100.00 101.00 1.00 0.46 0.16 3.49
And 101.00 102.00 1.00 0.03 0.14 0.35
And 102.00 103.50 1.50 0.01 0.02 0.28
And 103.50 105.00 1.50 0.12 0.06 0.85
And 105.00 106.00 1.00 0.85 0.64 6.08
And 106.00 107.36 1.36 1.93 0.62 over
And 107.36 109.00 1.64 0.21 0.10 1.62
And 109.00 110.50 1.50 0.03 0.02 0.38
Note: True width of the intersections cannot be estimated at this time as the geometry of the zone is unknown.
Wallbridge has also identified another five similar magnetic features on its large East Range land package, which covers 2,900 hectares of footwall rocks and extends from Falconbridge's Nickel Rim South project in the south to FNX's Podolsky project in the north. These will be investigated as part of an aggressive summer exploration program.
"This new nickel discovery marks the beginning of a new phase in our understanding and exploration of our very extensive footwall land package," stated Alar Soever, president of Wallbridge. "The discovery of significant nickel mineralization associated with mafic-ultramafic rocks, over one kilometre into the footwall of the Sudbury igneous comple, is to our knowledge unprecedented in the camp, although mafic-ultramafic rocks are known to occur in the footwall behind nickel-copper-PGE (platinum group elements) deposits in the Levack embayment."
The Frost Lake property is part of the Wallbridge/Falconbridge 4X joint venture. Wallbridge currently has a 64-per-cent interest in the Frost Lake property, while joint venture partner, Falconbridge, has the remaining 36-per-cent interest.
Half-core samples are delivered to the ALS Chemex Ltd. sample preparation laboratory in Sudbury, Ont. At ALS Chemex, samples were checked against requisition documents prior to being dried, weighed, crushed and split to 200-gram fractions using a Jones riffler and milled to 90 per cent to 95 per cent, passing 200 mesh and then transported by ALS Chemex to the analytical facilities in Vancouver, B.C.
Samples are analyzed for Au, Pt, and Pd by standard lead collection fire assay fusion followed by a combination of inductively coupled plasma mass spectrometry (ICP-MS) and atomic emission spectrometry (ICP-AES). Samples are also analyzed for 47 base metals and trace elements using a four-acid (HNO3-HCIO4-HF and HCI) near-total digestion and a combination of ICP-MS and ICP-AES. ICP overlimits are reanalyzed using sodium peroxide fusion acid dissolution followed by ICP-AES.
Alar Soever, PGeo, president, is the qualified person for Wallbridge Mining, in accordance with National Instrument 43-101 of the Canadian Securities Administrators, and is responsible for the technical content of this news, and quality assurance of Wallbridge's exploration data and analytical results.
We seek Safe Harbor.
Wallbridge finds new Ni-Cu mineralization at Frost Lake
2006-04-05 07:04 ET - News Release
Mr. Alar Soever reports
WALLBRIDGE INTERSECTS NICKEL IN SUDBURY EAST RANGE FOOTWALL
Wallbridge Mining Company Ltd. has intersected a new zone of nickel-copper mineralization on its Frost Lake property, on the East range of the Sudbury igneous complex. Drill hole WC-024, which targeted an off-hole pulse EM anomaly, intersected:
16.00 metres averaging 0.482 per cent nickel and 0.272 per cent copper, between 93.0 and 109.0 metres downhole. Included in this wider intercept are:
2.36 metres containing 1.472 per cent nickel and 0.630 per cent copper from 105.00 to 107.36 meters; and
1.10 metres containing 1.620 per cent nickel and 0.292 per cent copper from 97.00 to 98.10 metres.
More detailed assay results are tabulated below.
This new nickel discovery is the result of follow-up of a VTEM airborne electromagnetic anomaly. WC-022, the first hole drilled to test the anomaly, intersected 102 metres of previously undocumented mafic-ultramafic and anorthositic rocks, locally containing trace disseminations, and blebs of pyrrhotite, pentlandite and chalcopyrite. The discovery hole, WC-024, was targeted based on the results of a Crone downhole pulse EM survey in WC-022.
Airborne magnetic data and a recently completed induced polarization survey indicate that the ultramafic unit may have a strike length greater than 700 metres. Further borehole geophysics and follow-up drilling re planned.
WC-024 DRILLING HIGHLIGHTS
FROST LAKE ULTRAMAFIC
From To Length Ni Cu S
m m m % % %
93.00 109.00 16.00 0.48 0.27 1.70
Incl. 93.00 94.50 1.50 0.12 0.08 1.18
And 94.50 95.40 0.90 0.11 0.06 0.86
And 95.40 96.00 0.60 0.38 0.19 2.49
And 96.00 97.00 1.00 0.21 0.28 2.67
And 97.00 98.10 1.10 1.62 0.29 over
And 98.10 98.75 0.65 0.04 0.02 0.25
And 98.75 99.15 0.40 0.06 2.00 2.20
And 99.15 100.00 0.85 0.47 0.49 3.25
And 100.00 101.00 1.00 0.46 0.16 3.49
And 101.00 102.00 1.00 0.03 0.14 0.35
And 102.00 103.50 1.50 0.01 0.02 0.28
And 103.50 105.00 1.50 0.12 0.06 0.85
And 105.00 106.00 1.00 0.85 0.64 6.08
And 106.00 107.36 1.36 1.93 0.62 over
And 107.36 109.00 1.64 0.21 0.10 1.62
And 109.00 110.50 1.50 0.03 0.02 0.38
Note: True width of the intersections cannot be estimated at this time as the geometry of the zone is unknown.
Wallbridge has also identified another five similar magnetic features on its large East Range land package, which covers 2,900 hectares of footwall rocks and extends from Falconbridge's Nickel Rim South project in the south to FNX's Podolsky project in the north. These will be investigated as part of an aggressive summer exploration program.
"This new nickel discovery marks the beginning of a new phase in our understanding and exploration of our very extensive footwall land package," stated Alar Soever, president of Wallbridge. "The discovery of significant nickel mineralization associated with mafic-ultramafic rocks, over one kilometre into the footwall of the Sudbury igneous comple, is to our knowledge unprecedented in the camp, although mafic-ultramafic rocks are known to occur in the footwall behind nickel-copper-PGE (platinum group elements) deposits in the Levack embayment."
The Frost Lake property is part of the Wallbridge/Falconbridge 4X joint venture. Wallbridge currently has a 64-per-cent interest in the Frost Lake property, while joint venture partner, Falconbridge, has the remaining 36-per-cent interest.
Half-core samples are delivered to the ALS Chemex Ltd. sample preparation laboratory in Sudbury, Ont. At ALS Chemex, samples were checked against requisition documents prior to being dried, weighed, crushed and split to 200-gram fractions using a Jones riffler and milled to 90 per cent to 95 per cent, passing 200 mesh and then transported by ALS Chemex to the analytical facilities in Vancouver, B.C.
Samples are analyzed for Au, Pt, and Pd by standard lead collection fire assay fusion followed by a combination of inductively coupled plasma mass spectrometry (ICP-MS) and atomic emission spectrometry (ICP-AES). Samples are also analyzed for 47 base metals and trace elements using a four-acid (HNO3-HCIO4-HF and HCI) near-total digestion and a combination of ICP-MS and ICP-AES. ICP overlimits are reanalyzed using sodium peroxide fusion acid dissolution followed by ICP-AES.
Alar Soever, PGeo, president, is the qualified person for Wallbridge Mining, in accordance with National Instrument 43-101 of the Canadian Securities Administrators, and is responsible for the technical content of this news, and quality assurance of Wallbridge's exploration data and analytical results.
We seek Safe Harbor.
WKN 940769
http://www.stockwatch.com/swnet/newsit/newsit_newsit.aspx?bi…
Wallbridge's WMA changes name, starts Maturi drilling
2006-04-12 06:47 ET - News Release
Mr. Alar Soever reports
WALLBRIDGE AMERICA COMPLETES FINANCING AND CHANGES NAME TO DULUTH METALS LIMITED; UPDATES DRILLING PROGRESS
Wallbridge Mining Company Ltd.'s subsidiary Wallbridge America Ltd. (WMA) has completed its previously announced private placement financing and has changed its name to Duluth Metals Ltd. The company's initial drilling program is well under way with two drills currently operating on DML's Maturi extension property. Two holes, located about 2,000 metres apart, have been completed to date, testing the mineralized zone. Both holes encountered mineralization where anticipated. Assay results are pending.
DML is currently a private company that was formed to explore and develop the copper-nickel-PGE (platinum group elements) mineralization on Wallbridge's Maturi extension project in Minnesota.
The DML private placement was oversubscribed and raised $1,838,965 based on 30 cents per unit, consisting of one common share and one-half a warrant at 40 cents expiring on June 30, 2007. WM currently holds 10 million shares of DML and Wallbridge shareholders as at Nov. 15, 2005, hold approximately 11.85 million special warrants, convertible for no additional consideration into free-trading DML shares on completion of the initial public offering, and the listing of its shares on a Canadian stock exchange, which is targeted for June of this year.
Wallbridge's WMA changes name, starts Maturi drilling
2006-04-12 06:47 ET - News Release
Mr. Alar Soever reports
WALLBRIDGE AMERICA COMPLETES FINANCING AND CHANGES NAME TO DULUTH METALS LIMITED; UPDATES DRILLING PROGRESS
Wallbridge Mining Company Ltd.'s subsidiary Wallbridge America Ltd. (WMA) has completed its previously announced private placement financing and has changed its name to Duluth Metals Ltd. The company's initial drilling program is well under way with two drills currently operating on DML's Maturi extension property. Two holes, located about 2,000 metres apart, have been completed to date, testing the mineralized zone. Both holes encountered mineralization where anticipated. Assay results are pending.
DML is currently a private company that was formed to explore and develop the copper-nickel-PGE (platinum group elements) mineralization on Wallbridge's Maturi extension project in Minnesota.
The DML private placement was oversubscribed and raised $1,838,965 based on 30 cents per unit, consisting of one common share and one-half a warrant at 40 cents expiring on June 30, 2007. WM currently holds 10 million shares of DML and Wallbridge shareholders as at Nov. 15, 2005, hold approximately 11.85 million special warrants, convertible for no additional consideration into free-trading DML shares on completion of the initial public offering, and the listing of its shares on a Canadian stock exchange, which is targeted for June of this year.
Attention Business Editors:
Duluth Metals Appoints CEO and Independent Director
TORONTO, June 7 /CNW/ - Wallbridge Mining Company Limited (TSX:WM) today
announced that Duluth Metals Limited ("DML"), (formerly Wallbridge America
Limited), the private company formed to finance exploration of the Maturi
Extension Property in Minnesota has added additional senior management to its
operations and Board. The Board of Duluth Metals has named Dr. Henry J. Sandri
to serve as the company's President and Chief Executive Officer and Mr. Barry
D. Simmons as an independent director.
Dr. Sandri is a mineral economist with over 30 years experience in
project and operational management, strategic planning and business
development in the minerals industries. He has worldwide experience in base
and precious metals, and industrial minerals, and has worked on the financing,
development and operation of copper & nickel projects in North & South
America, Asia, Africa and Oceania. He has held management positions in
planning, business development and operations with Burlington Northern Inc.,
Inco Ltd., Behre Dolbear & Company, K&M Engineering and Select Resources
Corporation. His early career included positions at The World Bank, The
American Iron & Steel Institute and Booz - Allen & Hamilton. He is a former
adjunct professor of Economics at the Colorado School of Mines and the
Virginia Polytechnic Institute & State University. Dr. Sandri obtained his BSc
in Foreign Service from Georgetown University, an MA in Applied Economics from
American University and his PhD in Mineral Economics from the Colorado School
of Mines. He currently serves as a director of Select Resources and
Tri-Western Resources.
Mr. Simmons is a geological consultant and independent director with over
35 years of senior management responsibility in the mining industry. Having
served many years with Teck, Falconbridge and Cameco in senior exploration and
management positions, he has gained worldwide experience in the exploration
and development of copper, nickel, and precious metals, uranium, and other
commodities. Mr. Simmons has been directly involved in the discovery of
several significant mines. He is a former Director and past Chairman of the
Exploration Division of Camiro and a former Director and past Chairman of the
Education Committee of the Prospectors and Developers Association of Canada
(PDAC). In addition Mr. Simmons is a former member of the Minister's Advisory
Board for the Ontario Geological Survey. He is a graduate of Carleton
University with an Honours BSc in Geology. He currently serves as an
independent director and/or advisory board member with several TSX-listed and
private mining companies, including QGX, Queenston and Vismand.
Dr. Sandri and Mr. Simmons will join Mr. Christopher C. Dundas, Director
and Chairman and Mr. Douglas Hunter, Director and Senior Vice-President on the
board of Duluth Metals.
About Duluth Metals
Duluth Metals Limited is currently a subsidiary of Wallbridge Mining
Company Limited. Duluth Metals is exploring for nickel, copper and platinum
group element (PGE) deposits within the Duluth Complex of Minnesota. The
Maturi Extension property covers 3.5 miles of favourable geology which hosts
nickel, copper and PGE mineralization in the Duluth Complex. Duluth Metals
Limited is scheduled to file its IPO preliminary prospectus with the Ontario
Securities Commission during June 2006 and to apply to have its common shares
listed on a stock exchange.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever(at)wallbridgemining.com; Nick Kohlmann, M.Sc., Vice President, CHF
Investor Relations, Tel: (416) 868-1079 ext. 222, Email: nick(at)chfir.com
Duluth Metals Appoints CEO and Independent Director
TORONTO, June 7 /CNW/ - Wallbridge Mining Company Limited (TSX:WM) today
announced that Duluth Metals Limited ("DML"), (formerly Wallbridge America
Limited), the private company formed to finance exploration of the Maturi
Extension Property in Minnesota has added additional senior management to its
operations and Board. The Board of Duluth Metals has named Dr. Henry J. Sandri
to serve as the company's President and Chief Executive Officer and Mr. Barry
D. Simmons as an independent director.
Dr. Sandri is a mineral economist with over 30 years experience in
project and operational management, strategic planning and business
development in the minerals industries. He has worldwide experience in base
and precious metals, and industrial minerals, and has worked on the financing,
development and operation of copper & nickel projects in North & South
America, Asia, Africa and Oceania. He has held management positions in
planning, business development and operations with Burlington Northern Inc.,
Inco Ltd., Behre Dolbear & Company, K&M Engineering and Select Resources
Corporation. His early career included positions at The World Bank, The
American Iron & Steel Institute and Booz - Allen & Hamilton. He is a former
adjunct professor of Economics at the Colorado School of Mines and the
Virginia Polytechnic Institute & State University. Dr. Sandri obtained his BSc
in Foreign Service from Georgetown University, an MA in Applied Economics from
American University and his PhD in Mineral Economics from the Colorado School
of Mines. He currently serves as a director of Select Resources and
Tri-Western Resources.
Mr. Simmons is a geological consultant and independent director with over
35 years of senior management responsibility in the mining industry. Having
served many years with Teck, Falconbridge and Cameco in senior exploration and
management positions, he has gained worldwide experience in the exploration
and development of copper, nickel, and precious metals, uranium, and other
commodities. Mr. Simmons has been directly involved in the discovery of
several significant mines. He is a former Director and past Chairman of the
Exploration Division of Camiro and a former Director and past Chairman of the
Education Committee of the Prospectors and Developers Association of Canada
(PDAC). In addition Mr. Simmons is a former member of the Minister's Advisory
Board for the Ontario Geological Survey. He is a graduate of Carleton
University with an Honours BSc in Geology. He currently serves as an
independent director and/or advisory board member with several TSX-listed and
private mining companies, including QGX, Queenston and Vismand.
Dr. Sandri and Mr. Simmons will join Mr. Christopher C. Dundas, Director
and Chairman and Mr. Douglas Hunter, Director and Senior Vice-President on the
board of Duluth Metals.
About Duluth Metals
Duluth Metals Limited is currently a subsidiary of Wallbridge Mining
Company Limited. Duluth Metals is exploring for nickel, copper and platinum
group element (PGE) deposits within the Duluth Complex of Minnesota. The
Maturi Extension property covers 3.5 miles of favourable geology which hosts
nickel, copper and PGE mineralization in the Duluth Complex. Duluth Metals
Limited is scheduled to file its IPO preliminary prospectus with the Ontario
Securities Commission during June 2006 and to apply to have its common shares
listed on a stock exchange.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever(at)wallbridgemining.com; Nick Kohlmann, M.Sc., Vice President, CHF
Investor Relations, Tel: (416) 868-1079 ext. 222, Email: nick(at)chfir.com
Attention Business Editors:
Wallbridge Appoints Bruce Jago VP Exploration to Head Up Aggressive Summer Program
TORONTO, June 8 /CNW/ - Wallbridge Mining Company Limited (TSX:WM)
announced today that it has appointed Bruce Jago, Vice President Exploration.
Bruce will head up the Company's exploration for copper-nickel-PGE deposits in
Sudbury. Bruce's immediate focus will be advancing exploration of the five new
areas of mineralization identified by the Company on its Sudbury footwall
properties over the last year, and seeing the Broken Hammer Zone through to
bulk sampling.
After graduating from the University of Toronto with a Ph.D. in Geology
in 1991, Bruce joined Inco Exploration and Technical Services as an Applied
Mineralogist providing technical and consulting support to world-wide
exploration offices. Bruce was part of the team that developed working models
for the mobility of PGEs into footwall breccia by high temperature Cl-rich
fluids and recognised the potential to use whole rock Cl and pathfinder trace
element contents in the exploration for footwall Cu-PGE deposits. These ideas
have contributed to many of the exploration successes in the Sudbury footwall
over the past few years. Bruce was later appointed Exploration Manager,
Brazil.
After leaving Inco in 1998, Bruce held increasingly responsible positions
at Lakefield Research, now SGS Minerals, including Manager - Mineralogical
Services and Head - Diamond Exploration Services. At Lakefield, Bruce was
responsible for expanding the scope of services provided to the international
diamond exploration community, particular in the area of commercial diamond
recovery, and was responsible for securing contracts that led to the purchase
of a one tonne dense media separation plant and X-ray sorter for diamond
concentrates, purchases which led the way for a further expansion in
commercial diamond recovery in Lakefield's Metallurgical and Mineralogical
Services groups.
More recently Bruce was Manager - Diamond Projects for Temex Resources
Corp. where he was responsible for the planning and execution of field
exploration programs in the Hood River area of western Nunavut and the
Temagami - New Liskeard area of northeastern Ontario.
"We are extremely fortunate to have someone with Bruce's experience and
qualifications join our team", stated Alar Soever, President of Wallbridge.
"His Sudbury experience and his pioneering work into the understanding of how
the footwall deposits are formed adds a dimension which we formerly did not
have. The fact that we were able to attract someone like Bruce to Wallbridge
in a very competitive job market speaks very highly of the quality of our
properties and our exploration team. Our team and I look forward to working
with Bruce as we advance the exploration in Sudbury.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth base metal camp.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever(at)wallbridgemining.com; CHF Investor Relations, Mara Strazdins, Tel:
(416) 868-1079 ext. 222, Email: mara(at)chfir.com
Wallbridge Appoints Bruce Jago VP Exploration to Head Up Aggressive Summer Program
TORONTO, June 8 /CNW/ - Wallbridge Mining Company Limited (TSX:WM)
announced today that it has appointed Bruce Jago, Vice President Exploration.
Bruce will head up the Company's exploration for copper-nickel-PGE deposits in
Sudbury. Bruce's immediate focus will be advancing exploration of the five new
areas of mineralization identified by the Company on its Sudbury footwall
properties over the last year, and seeing the Broken Hammer Zone through to
bulk sampling.
After graduating from the University of Toronto with a Ph.D. in Geology
in 1991, Bruce joined Inco Exploration and Technical Services as an Applied
Mineralogist providing technical and consulting support to world-wide
exploration offices. Bruce was part of the team that developed working models
for the mobility of PGEs into footwall breccia by high temperature Cl-rich
fluids and recognised the potential to use whole rock Cl and pathfinder trace
element contents in the exploration for footwall Cu-PGE deposits. These ideas
have contributed to many of the exploration successes in the Sudbury footwall
over the past few years. Bruce was later appointed Exploration Manager,
Brazil.
After leaving Inco in 1998, Bruce held increasingly responsible positions
at Lakefield Research, now SGS Minerals, including Manager - Mineralogical
Services and Head - Diamond Exploration Services. At Lakefield, Bruce was
responsible for expanding the scope of services provided to the international
diamond exploration community, particular in the area of commercial diamond
recovery, and was responsible for securing contracts that led to the purchase
of a one tonne dense media separation plant and X-ray sorter for diamond
concentrates, purchases which led the way for a further expansion in
commercial diamond recovery in Lakefield's Metallurgical and Mineralogical
Services groups.
More recently Bruce was Manager - Diamond Projects for Temex Resources
Corp. where he was responsible for the planning and execution of field
exploration programs in the Hood River area of western Nunavut and the
Temagami - New Liskeard area of northeastern Ontario.
"We are extremely fortunate to have someone with Bruce's experience and
qualifications join our team", stated Alar Soever, President of Wallbridge.
"His Sudbury experience and his pioneering work into the understanding of how
the footwall deposits are formed adds a dimension which we formerly did not
have. The fact that we were able to attract someone like Bruce to Wallbridge
in a very competitive job market speaks very highly of the quality of our
properties and our exploration team. Our team and I look forward to working
with Bruce as we advance the exploration in Sudbury.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth base metal camp.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever(at)wallbridgemining.com; CHF Investor Relations, Mara Strazdins, Tel:
(416) 868-1079 ext. 222, Email: mara(at)chfir.com
Attention Business Editors:
Wallbridge Starts Summer Program with Three Drills
TORONTO, June 12 /CNW/ - Wallbridge Mining Company Limited (TSX: WM)
announced today that work on its summer exploration program in Sudbury is well
underway with three drills turning on its Frost Lake, Wisner and Trill
properties and with four mapping crews in the bush. A deep penetrating MT
survey is also underway on the Skynner Lake Property.
One drill is operating on the Frost Lake property on the East Range where
the focus is on Wallbridge's Amy Lake PGE zone, which was intersected by
drilling last winter (see Press Release dated December 06, 2005) as well as
the new nickel discovery announced in April 2006. (see Press Release dated
April 5, 2006). As reported in that release the discovery hole on this zone
intersected 16.00 metres averaging 0.482% Ni and 0.272% Cu including
2.36 metres containing 1.472% Ni and 0.630 % Cu, and 1.10 metres containing
1.620% Ni and 0.292% Cu. Drilling will attempt to trace this mineralization to
depth and along strike.
A second drill is operating on the Wisner property on the North Range and
is currently testing to depth the disseminated and vein type copper-PGE
mineralization found by surface trenching and recently intersected by shallow
drilling in the Southwest Area (see Press Release dated May 30, 2006).
A third drill is operating at the western end of the Sudbury basin on the
Trill property. Targets here are conductors defined by the VTEM survey flown
late last year and early this year and the recently completed ground
geophysics as well as the strike extension of the Trill Offset dyke. Work last
year identified the presence of this mineralized offset dyke as well as a
small high-grade massive sulphide zone within it.
In addition to the drilling, trenching is underway on linear VTEM
conductors on the Foy property, while field crews are carrying out follow-up
mapping and sampling on a number of other targets around the Sudbury basin.
Results of these work programs will be reported as they become available.
The Frost Lake Property is part of the Wallbridge/Falconbridge 4X Joint
Venture. Wallbridge currently has a 64% interest in the Frost Lake Property,
while joint venture partner Falconbridge Limited has the remaining 36%.
Work on the Trill, Foy and Skynner Properties is funded 65% by Lonmin
Plc. and 35% by Wallbridge through the Wallbridge/Lonmin Sudbury Camp Joint
Venture. Lonmin can earn up to a 65% interest in any mineral resource by
funding work through to production.
Half-core samples are delivered to the ALS Chemex Limited sample
preparation laboratory in Sudbury, Ontario. At ALS Chemex, samples were
checked against requisition documents prior to being dried, weighed, crushed
and split to 200 gram fractions using a Jones riffler and milled to 90 to 95 %
passing 200 mesh and then transported by ALS Chemex to their analytical
facilities in Vancouver, British Columbia.
Samples are analyzed for Au, Pt, and Pd by standard lead collection fire
assay fusion followed by a combination of inductively coupled plasma mass
spectrometry (ICP-MS) and atomic emission spectrometry (ICP-AES). Samples are
also analyzed for 47 base metals and trace elements using a four acid
(HNO3-HCIO4-HF and HCI) near total digestion and a combination of ICP-MS and
ICP-AES. ICP overlimits are re-analyzed using sodium peroxide fusion acid
dissolution followed by ICP-AES.
Bruce Jago, P.Geo, Vice President Exploration, is the Qualified Person
for Wallbridge Mining Company Limited, in accordance with NI 43-101 of the
Canadian Securities Administrators, and is responsible for the technical
content of this press release and quality assurance of Wallbridge's
exploration data and analytical results.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth base metal camp.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever(at)wallbridgemining.com; CHF Investor Relations, Mara Strazdins, Vice
President, Tel: (416) 868-1079 ext. 222, Email: mara(at)chfir.com
Wallbridge Starts Summer Program with Three Drills
TORONTO, June 12 /CNW/ - Wallbridge Mining Company Limited (TSX: WM)
announced today that work on its summer exploration program in Sudbury is well
underway with three drills turning on its Frost Lake, Wisner and Trill
properties and with four mapping crews in the bush. A deep penetrating MT
survey is also underway on the Skynner Lake Property.
One drill is operating on the Frost Lake property on the East Range where
the focus is on Wallbridge's Amy Lake PGE zone, which was intersected by
drilling last winter (see Press Release dated December 06, 2005) as well as
the new nickel discovery announced in April 2006. (see Press Release dated
April 5, 2006). As reported in that release the discovery hole on this zone
intersected 16.00 metres averaging 0.482% Ni and 0.272% Cu including
2.36 metres containing 1.472% Ni and 0.630 % Cu, and 1.10 metres containing
1.620% Ni and 0.292% Cu. Drilling will attempt to trace this mineralization to
depth and along strike.
A second drill is operating on the Wisner property on the North Range and
is currently testing to depth the disseminated and vein type copper-PGE
mineralization found by surface trenching and recently intersected by shallow
drilling in the Southwest Area (see Press Release dated May 30, 2006).
A third drill is operating at the western end of the Sudbury basin on the
Trill property. Targets here are conductors defined by the VTEM survey flown
late last year and early this year and the recently completed ground
geophysics as well as the strike extension of the Trill Offset dyke. Work last
year identified the presence of this mineralized offset dyke as well as a
small high-grade massive sulphide zone within it.
In addition to the drilling, trenching is underway on linear VTEM
conductors on the Foy property, while field crews are carrying out follow-up
mapping and sampling on a number of other targets around the Sudbury basin.
Results of these work programs will be reported as they become available.
The Frost Lake Property is part of the Wallbridge/Falconbridge 4X Joint
Venture. Wallbridge currently has a 64% interest in the Frost Lake Property,
while joint venture partner Falconbridge Limited has the remaining 36%.
Work on the Trill, Foy and Skynner Properties is funded 65% by Lonmin
Plc. and 35% by Wallbridge through the Wallbridge/Lonmin Sudbury Camp Joint
Venture. Lonmin can earn up to a 65% interest in any mineral resource by
funding work through to production.
Half-core samples are delivered to the ALS Chemex Limited sample
preparation laboratory in Sudbury, Ontario. At ALS Chemex, samples were
checked against requisition documents prior to being dried, weighed, crushed
and split to 200 gram fractions using a Jones riffler and milled to 90 to 95 %
passing 200 mesh and then transported by ALS Chemex to their analytical
facilities in Vancouver, British Columbia.
Samples are analyzed for Au, Pt, and Pd by standard lead collection fire
assay fusion followed by a combination of inductively coupled plasma mass
spectrometry (ICP-MS) and atomic emission spectrometry (ICP-AES). Samples are
also analyzed for 47 base metals and trace elements using a four acid
(HNO3-HCIO4-HF and HCI) near total digestion and a combination of ICP-MS and
ICP-AES. ICP overlimits are re-analyzed using sodium peroxide fusion acid
dissolution followed by ICP-AES.
Bruce Jago, P.Geo, Vice President Exploration, is the Qualified Person
for Wallbridge Mining Company Limited, in accordance with NI 43-101 of the
Canadian Securities Administrators, and is responsible for the technical
content of this press release and quality assurance of Wallbridge's
exploration data and analytical results.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth base metal camp.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever(at)wallbridgemining.com; CHF Investor Relations, Mara Strazdins, Vice
President, Tel: (416) 868-1079 ext. 222, Email: mara(at)chfir.com
Attention Business Editors:
Duluth Metals Receives 43-101 Report with New Drill Results
TORONTO, June 20 /CNW/ - Wallbridge Mining Company Limited (TSX:WM) today
announced that Duluth Metals Limited ("DML"), (formerly Wallbridge America
Limited), the private company formed to finance exploration of the Maturi
Extension Property situated in Minnesota, has received a NI 43-101 compliant
report by Roscoe Postle Associates ("RPA") with new spring 2006 drill results.
The presence of an extensive sheet of copper-nickel-PGE mineralization
underlying large parts of the property has been confirmed on the basis of six
new drill holes and fifteen (includes two holes on boundary, parts of which
may be off property) historic holes on the property.
The Maturi Extension Property is strategically situated in the Duluth
Complex, covering 2,570 acres directly east of Franconia Minerals
Corporation's Maturi Deposit. DML completed 19,625 feet of diamond drilling
within six holes between March to May, 2006. To date, the mineralization has
been tested over a strike length of 3.25 kilometres. The mineralization
extends as a south-easterly dipping tabular zone averaging about 120 feet
thick from depths of about 1500 feet along the western property boundary to
depths of about 3700 feet at the eastern limit of the drilling to date. There
remains an additional 1.6 kilometres of property open for exploration and
step-out drilling along the easterly trend.
Highlights from spring 2006 drilling
------------------------------------
Two high priority areas requiring immediate follow-up have been
highlighted by the spring 2006 drilling. These are the Western Area and the
Eastern Exploration Area, which are separated by approximately 1.6 km.
Western Area
------------
- This is the area of advanced exploration where RPA believes there
is the potential to develop and qualify a resource in the short
term. It is located at the western end of the Maturi Extension
Property, which is contiguous and down-dip to the east of
Franconia Minerals Corporation's recently announced Inferred
Resource (51 million tonnes at 0.74% copper and 0.28% nickel)
known as the "Maturi Deposit".
- Three drill holes tested the area. Holes MEX-002 and MEX-006
intersected wide zones of mineralization with MEX-002 intersecting
0.78 % copper, 0.28% nickel, and 0.969 grams of Total Precious
Metals ("TPM") per tonne over a core length of 120 feet and MEX-
006 intersecting 0.73 % copper, 0.25% nickel, and 0.607 grams of
TPM per tonne over a core length of 220 feet (True thickness is
estimated at about 90% of core length).
- Recent drilling results are consistent with the grade of the
historic holes in this area. To date, a total of 11 drill holes
have been completed within this area at a spacing of about 400
metres within an area measuring about 2300 metres by 750 metres.
All holes have intersected mineralization. Average grade
of these holes is 0.73% copper, 0.26% nickel over an average
thickness of 120 feet. (See Table 1 below).
- Taking into account the successful results of the recent drilling
program, Roscoe Postle Associates recommended a revised, more
advanced Phase One and Phase Two drill program to qualify a
potential resource by bringing drill spacing to about 200 metres,
and closer if required. Based on the areal extent and average
known thickness of the mineralization there is potential to define
in excess of 100 million tonnes of mineralization within this
area.
TABLE 1: ASSAYS FROM DRILL HOLES IN THE WESTERN AREA
(as compiled from historic data (at) 0.6% copper cut-off)
From To Length
Hole (feet) (feet) (feet) % Copper % Nickel
11533 1005.00 1130.00 125.00 0.73 0.25
40912 1210.00 1405.00 195.00 0.66 0.25
40913 2535.00 2585.00 50.00 1.02 0.39
DU-01 2540.00 2610.00 70.00 0.65 0.25
DU-05 1150.00 1220.00 70.00 0.95 0.28
DU-18 1750.00 1890.00 140.00 0.72 0.29
DU-19 1480.00 1580.00 100.00 0.71 0.26
DU-20 2160.00 2270.00 110.00 0.74 0.26
K-04 1336.00 1469.50 133.50 0.64 0.23
MEX-002 2207.00 2327.00 120.00 0.78 0.28
MEX-006 1996.00 2206.00 210.00 0.73 0.25
Average 120.32 0.73 0.26
Eastern Exploration Area
------------------------
- The Eastern Exploration Area is situated between historic hole
DU-04 and the eastern property boundary about one mile to the
east. This area was tested by hole MEX-003 which is located about
1300 feet southeast of DU-04. Drill hole MEX-003 intersected
160 feet of 0.70% copper, 0.18% nickel, and 0.716 grams of TPM per
tonne, including 75 feet of 0.84% copper, 0.21% nickel, and
0.838 grams per tonne TPM. Included in this higher grade section
are two higher grade intervals of 25 feet of 1.07% copper, 0.25%
nickel, and 1.011 grams of TPM per tonne and 20 feet of 0.97%
copper, 0.25% nickel, and 0.996 grams of TPM per tonne. (True
thickness is estimated at about 90% of core length).
- The results of hole MEX-003 appear to confirm the general trend to
higher grade towards the east as previously indicated by historic
hole DU-04 which returned 90 feet of 0.96% copper, 0.18% nickel,
and 1.42 grams of TPM (0.81 g Pd/t, 0.34 g Pt/t, and 0.27 g Au/t).
- A high priority exploration area is situated in the 1600 metres
(1 mile) between holes DU-04 and MEX-003 and the eastern boundary
of the property. This area will be targeted once DML has completed
its planned IPO. Initial drilling will test this area at 400 metre
(quarter mile) spacing.
- Current plans call for completion of the listing and the IPO by
the end of July, after which a Phase 1, 35,000 feet drill program
will commence, employing two drills. These drills will operate in
the Western Area, and a third drill will be used to follow-up on
the higher grade mineralization encountered in the Eastern
Exploration Area.
TABLE 2: SPRING 2006 DRILL ASSAYS
(as per RPA Report dated May 31, 2006)
-------------------------------------------------------------------------
Hole
Inter- From To Length Cu Ni Co Pd Pt Au TPM Ag
section (Feet) (Feet) (Feet) (%) (%) ppm ppm ppm ppm ppm ppm
-------------------------------------------------------------------------
MEX-1 3536.5 3593.0 56.5 0.52 0.16 78 0.463 0.207 0.090 0.761 1.83
-------------------------------------------------------------------------
MEX-1
(at) 0.5%
cut-off 3563.0 3593.0 30.0 0.62 0.16 84 0.452 0.196 0.086 0.733 2.23
-------------------------------------------------------------------------
MEX-2
(at) 0.5%
cut-off 2207.0 2327.0 120.0 0.78 0.28 108 0.589 0.250 0.129 0.969 2.76
-------------------------------------------------------------------------
MEX-2
including 2252.0 2287.0 35.0 0.89 0.32 117 0.604 0.280 0.115 0.999 3.16
-------------------------------------------------------------------------
MEX-3
(at) 0.5%
cut-off 3603.0 3763.0 160.0 0.70 0.18 84 0.428 0.198 0.090 0.716 2.85
-------------------------------------------------------------------------
MEX-3
including 3628.0 3703.0 75.0 0.84 0.21 95 0.490 0.240 0.108 0.838 3.16
-------------------------------------------------------------------------
MEX-3
which
includes 3628.0 3653.0 25.0 1.07 0.25 106 0.573 0.314 0.124 1.011 3.98
-------------------------------------------------------------------------
MEX-3
and 3683.0 3703.0 20.0 0.97 0.25 107 0.606 0.250 0.140 0.996 3.05
-------------------------------------------------------------------------
MEX-4
(at) 0.5%
cut-off 2812.0 2827.0 15.0 0.73 0.21 93 0.511 0.227 0.111 0.848 2.87
-------------------------------------------------------------------------
and
-------------------------------------------------------------------------
MEX-4
(at) 0.5%
cut-off 2902.0 2917.0 15.0 0.58 0.19 77 0.387 0.173 0.095 0.655 2.40
-------------------------------------------------------------------------
MEX-5 3192.0 3287.0 95.0 0.26 0.09 69 0.219 0.115 0.056 0.390 0.94
-------------------------------------------------------------------------
MEX-5
(at) 0.5%
cut-off 3242.0 3247.0 5.0 0.54 0.17 60 0.427 0.212 0.083 0.722 0.85
-------------------------------------------------------------------------
MEX-6
(at) 0.5%
cut-off 1996.0 2216.0 220.0 0.73 0.25 114 0.362 0.166 0.079 0.607 2.59
-------------------------------------------------------------------------
including 2116.0 2151.0 35.0 0.93 0.30 128 0.477 0.218 0.106 0.801 3.29
-------------------------------------------------------------------------
With the six hole spring 2006 program, half core samples were prepared at
ALS Chemex Ltd. Laboratories in Thunder Bay and then shipped to its analytical
facilities in Vancouver. Samples were analyzed for Au, Pt, Pd using a standard
fire assay with an ICP finish and for 27 base metals and trace elements using
a four acid (near total) digestion and a combination of ICPMS and ICPAES. ICP
overlimits were re-analyzed using sodium peroxide fusion, acid dissolution
followed by ICPAES.
Doug Hunter, P.Geo. Senior Vice-President of Duluth Metals Limited is the
Qualified Person for Wallbridge Mining Company Limited and Duluth Metals
Limited, in accordance with NI 43-101 of the Canadian Securities
Administrators, and is responsible for the technical content of this press
release and quality assurance of the exploration data and analytical results.
About Duluth Metals Limited
Duluth Metals Limited is a private company that was formed to finance the
exploration and development of the copper-nickel-PGE mineralization on
Walbridge's Maturi Extension Project in Minnesota. DML will be filing
imminently a preliminary prospectus with the Ontario, Alberta and British
Columbia Securities Commissions in connection with its IPO.
Wallbridge Mining Company Limited currently holds 10 million shares in
DML, with Wallbridge shareholders holding approximately 11,850,000 Special
Warrants convertible for no additional consideration into free trading shares
on completion of the IPO, which is being targeted for July of this year.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in DML, which has a significant property position in the rapidly emerging
Duluth base metal camp.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever(at)wallbridgemining.com; Duluth Metals Limited, Rick Sandri, President
& CEO, Tel: (661) 340-7755, Email: hsandri(at)selectresources.us; CHF Investor
Relations, Mara Strazdins, P.Geo., Vice President, Tel: (416) 868-1079 ext.
222, Email: mara(at)chfir.com
Duluth Metals Receives 43-101 Report with New Drill Results
TORONTO, June 20 /CNW/ - Wallbridge Mining Company Limited (TSX:WM) today
announced that Duluth Metals Limited ("DML"), (formerly Wallbridge America
Limited), the private company formed to finance exploration of the Maturi
Extension Property situated in Minnesota, has received a NI 43-101 compliant
report by Roscoe Postle Associates ("RPA") with new spring 2006 drill results.
The presence of an extensive sheet of copper-nickel-PGE mineralization
underlying large parts of the property has been confirmed on the basis of six
new drill holes and fifteen (includes two holes on boundary, parts of which
may be off property) historic holes on the property.
The Maturi Extension Property is strategically situated in the Duluth
Complex, covering 2,570 acres directly east of Franconia Minerals
Corporation's Maturi Deposit. DML completed 19,625 feet of diamond drilling
within six holes between March to May, 2006. To date, the mineralization has
been tested over a strike length of 3.25 kilometres. The mineralization
extends as a south-easterly dipping tabular zone averaging about 120 feet
thick from depths of about 1500 feet along the western property boundary to
depths of about 3700 feet at the eastern limit of the drilling to date. There
remains an additional 1.6 kilometres of property open for exploration and
step-out drilling along the easterly trend.
Highlights from spring 2006 drilling
------------------------------------
Two high priority areas requiring immediate follow-up have been
highlighted by the spring 2006 drilling. These are the Western Area and the
Eastern Exploration Area, which are separated by approximately 1.6 km.
Western Area
------------
- This is the area of advanced exploration where RPA believes there
is the potential to develop and qualify a resource in the short
term. It is located at the western end of the Maturi Extension
Property, which is contiguous and down-dip to the east of
Franconia Minerals Corporation's recently announced Inferred
Resource (51 million tonnes at 0.74% copper and 0.28% nickel)
known as the "Maturi Deposit".
- Three drill holes tested the area. Holes MEX-002 and MEX-006
intersected wide zones of mineralization with MEX-002 intersecting
0.78 % copper, 0.28% nickel, and 0.969 grams of Total Precious
Metals ("TPM") per tonne over a core length of 120 feet and MEX-
006 intersecting 0.73 % copper, 0.25% nickel, and 0.607 grams of
TPM per tonne over a core length of 220 feet (True thickness is
estimated at about 90% of core length).
- Recent drilling results are consistent with the grade of the
historic holes in this area. To date, a total of 11 drill holes
have been completed within this area at a spacing of about 400
metres within an area measuring about 2300 metres by 750 metres.
All holes have intersected mineralization. Average grade
of these holes is 0.73% copper, 0.26% nickel over an average
thickness of 120 feet. (See Table 1 below).
- Taking into account the successful results of the recent drilling
program, Roscoe Postle Associates recommended a revised, more
advanced Phase One and Phase Two drill program to qualify a
potential resource by bringing drill spacing to about 200 metres,
and closer if required. Based on the areal extent and average
known thickness of the mineralization there is potential to define
in excess of 100 million tonnes of mineralization within this
area.
TABLE 1: ASSAYS FROM DRILL HOLES IN THE WESTERN AREA
(as compiled from historic data (at) 0.6% copper cut-off)
From To Length
Hole (feet) (feet) (feet) % Copper % Nickel
11533 1005.00 1130.00 125.00 0.73 0.25
40912 1210.00 1405.00 195.00 0.66 0.25
40913 2535.00 2585.00 50.00 1.02 0.39
DU-01 2540.00 2610.00 70.00 0.65 0.25
DU-05 1150.00 1220.00 70.00 0.95 0.28
DU-18 1750.00 1890.00 140.00 0.72 0.29
DU-19 1480.00 1580.00 100.00 0.71 0.26
DU-20 2160.00 2270.00 110.00 0.74 0.26
K-04 1336.00 1469.50 133.50 0.64 0.23
MEX-002 2207.00 2327.00 120.00 0.78 0.28
MEX-006 1996.00 2206.00 210.00 0.73 0.25
Average 120.32 0.73 0.26
Eastern Exploration Area
------------------------
- The Eastern Exploration Area is situated between historic hole
DU-04 and the eastern property boundary about one mile to the
east. This area was tested by hole MEX-003 which is located about
1300 feet southeast of DU-04. Drill hole MEX-003 intersected
160 feet of 0.70% copper, 0.18% nickel, and 0.716 grams of TPM per
tonne, including 75 feet of 0.84% copper, 0.21% nickel, and
0.838 grams per tonne TPM. Included in this higher grade section
are two higher grade intervals of 25 feet of 1.07% copper, 0.25%
nickel, and 1.011 grams of TPM per tonne and 20 feet of 0.97%
copper, 0.25% nickel, and 0.996 grams of TPM per tonne. (True
thickness is estimated at about 90% of core length).
- The results of hole MEX-003 appear to confirm the general trend to
higher grade towards the east as previously indicated by historic
hole DU-04 which returned 90 feet of 0.96% copper, 0.18% nickel,
and 1.42 grams of TPM (0.81 g Pd/t, 0.34 g Pt/t, and 0.27 g Au/t).
- A high priority exploration area is situated in the 1600 metres
(1 mile) between holes DU-04 and MEX-003 and the eastern boundary
of the property. This area will be targeted once DML has completed
its planned IPO. Initial drilling will test this area at 400 metre
(quarter mile) spacing.
- Current plans call for completion of the listing and the IPO by
the end of July, after which a Phase 1, 35,000 feet drill program
will commence, employing two drills. These drills will operate in
the Western Area, and a third drill will be used to follow-up on
the higher grade mineralization encountered in the Eastern
Exploration Area.
TABLE 2: SPRING 2006 DRILL ASSAYS
(as per RPA Report dated May 31, 2006)
-------------------------------------------------------------------------
Hole
Inter- From To Length Cu Ni Co Pd Pt Au TPM Ag
section (Feet) (Feet) (Feet) (%) (%) ppm ppm ppm ppm ppm ppm
-------------------------------------------------------------------------
MEX-1 3536.5 3593.0 56.5 0.52 0.16 78 0.463 0.207 0.090 0.761 1.83
-------------------------------------------------------------------------
MEX-1
(at) 0.5%
cut-off 3563.0 3593.0 30.0 0.62 0.16 84 0.452 0.196 0.086 0.733 2.23
-------------------------------------------------------------------------
MEX-2
(at) 0.5%
cut-off 2207.0 2327.0 120.0 0.78 0.28 108 0.589 0.250 0.129 0.969 2.76
-------------------------------------------------------------------------
MEX-2
including 2252.0 2287.0 35.0 0.89 0.32 117 0.604 0.280 0.115 0.999 3.16
-------------------------------------------------------------------------
MEX-3
(at) 0.5%
cut-off 3603.0 3763.0 160.0 0.70 0.18 84 0.428 0.198 0.090 0.716 2.85
-------------------------------------------------------------------------
MEX-3
including 3628.0 3703.0 75.0 0.84 0.21 95 0.490 0.240 0.108 0.838 3.16
-------------------------------------------------------------------------
MEX-3
which
includes 3628.0 3653.0 25.0 1.07 0.25 106 0.573 0.314 0.124 1.011 3.98
-------------------------------------------------------------------------
MEX-3
and 3683.0 3703.0 20.0 0.97 0.25 107 0.606 0.250 0.140 0.996 3.05
-------------------------------------------------------------------------
MEX-4
(at) 0.5%
cut-off 2812.0 2827.0 15.0 0.73 0.21 93 0.511 0.227 0.111 0.848 2.87
-------------------------------------------------------------------------
and
-------------------------------------------------------------------------
MEX-4
(at) 0.5%
cut-off 2902.0 2917.0 15.0 0.58 0.19 77 0.387 0.173 0.095 0.655 2.40
-------------------------------------------------------------------------
MEX-5 3192.0 3287.0 95.0 0.26 0.09 69 0.219 0.115 0.056 0.390 0.94
-------------------------------------------------------------------------
MEX-5
(at) 0.5%
cut-off 3242.0 3247.0 5.0 0.54 0.17 60 0.427 0.212 0.083 0.722 0.85
-------------------------------------------------------------------------
MEX-6
(at) 0.5%
cut-off 1996.0 2216.0 220.0 0.73 0.25 114 0.362 0.166 0.079 0.607 2.59
-------------------------------------------------------------------------
including 2116.0 2151.0 35.0 0.93 0.30 128 0.477 0.218 0.106 0.801 3.29
-------------------------------------------------------------------------
With the six hole spring 2006 program, half core samples were prepared at
ALS Chemex Ltd. Laboratories in Thunder Bay and then shipped to its analytical
facilities in Vancouver. Samples were analyzed for Au, Pt, Pd using a standard
fire assay with an ICP finish and for 27 base metals and trace elements using
a four acid (near total) digestion and a combination of ICPMS and ICPAES. ICP
overlimits were re-analyzed using sodium peroxide fusion, acid dissolution
followed by ICPAES.
Doug Hunter, P.Geo. Senior Vice-President of Duluth Metals Limited is the
Qualified Person for Wallbridge Mining Company Limited and Duluth Metals
Limited, in accordance with NI 43-101 of the Canadian Securities
Administrators, and is responsible for the technical content of this press
release and quality assurance of the exploration data and analytical results.
About Duluth Metals Limited
Duluth Metals Limited is a private company that was formed to finance the
exploration and development of the copper-nickel-PGE mineralization on
Walbridge's Maturi Extension Project in Minnesota. DML will be filing
imminently a preliminary prospectus with the Ontario, Alberta and British
Columbia Securities Commissions in connection with its IPO.
Wallbridge Mining Company Limited currently holds 10 million shares in
DML, with Wallbridge shareholders holding approximately 11,850,000 Special
Warrants convertible for no additional consideration into free trading shares
on completion of the IPO, which is being targeted for July of this year.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in DML, which has a significant property position in the rapidly emerging
Duluth base metal camp.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever(at)wallbridgemining.com; Duluth Metals Limited, Rick Sandri, President
& CEO, Tel: (661) 340-7755, Email: hsandri(at)selectresources.us; CHF Investor
Relations, Mara Strazdins, P.Geo., Vice President, Tel: (416) 868-1079 ext.
222, Email: mara(at)chfir.com
Attention Business Editors:
Duluth Metals Files IPO Preliminary Prospectus
TORONTO, June 22 /CNW/ - Wallbridge Mining Company Limited (TSX:WM) today
announced that Duluth Metals Limited ("DML"), the private company formed to
finance exploration of the Maturi Extension Property, filed a Preliminary
Prospectus for its Initial Public Offering on June 20, 2006 with the Ontario,
Alberta and British Columbia Securities Commissions. The Offering will consist
of Units of DML, where each Unit consists of one common share of the capital
of DML and one half of one class A common share purchase warrant of DML. The
net proceeds of the Offering, together with existing working capital, will be
applied to fund DML's consolidated operating budgets for the 6 and 18 month
periods ending December 31, 2006 and December 31, 2007. These budgets cover
the costs of the Phase One and Phase Two exploration programs on DML's Maturi
Extension Property as recommended by Roscoe Postle and Associates Inc. in
their most recent 43-101 Report dated May 31, 2006.
About Duluth Metals Limited
Duluth Metals Limited is a private company that was formed to finance the
exploration and development of the copper-nickel-PGE mineralization on
Wallbridge's Maturi Extension Project in Minnesota.
Wallbridge Mining Company Limited currently holds 10 million shares in
DML, with Wallbridge shareholders holding approximately 11,850,000 Special
Warrants convertible for no additional consideration into free trading shares
on completion of the IPO, which is being targeted for July of this year.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in DML, which has a significant property position in the rapidly emerging
Duluth base metal camp.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever(at)wallbridgemining.com; Duluth Metals Limited, Henry Sandri,
President & CEO, Tel: (661) 340-7755, Email: hsandri(at)selectresources.us;
Christopher Dundas, Tel: (416) 317-6749; CHF Investor Relations, Mara
Strazdins, P.Geo., Vice President, Tel: (416) 868-1079 ext. 222, Email:
mara(at)chfir.com
Duluth Metals Files IPO Preliminary Prospectus
TORONTO, June 22 /CNW/ - Wallbridge Mining Company Limited (TSX:WM) today
announced that Duluth Metals Limited ("DML"), the private company formed to
finance exploration of the Maturi Extension Property, filed a Preliminary
Prospectus for its Initial Public Offering on June 20, 2006 with the Ontario,
Alberta and British Columbia Securities Commissions. The Offering will consist
of Units of DML, where each Unit consists of one common share of the capital
of DML and one half of one class A common share purchase warrant of DML. The
net proceeds of the Offering, together with existing working capital, will be
applied to fund DML's consolidated operating budgets for the 6 and 18 month
periods ending December 31, 2006 and December 31, 2007. These budgets cover
the costs of the Phase One and Phase Two exploration programs on DML's Maturi
Extension Property as recommended by Roscoe Postle and Associates Inc. in
their most recent 43-101 Report dated May 31, 2006.
About Duluth Metals Limited
Duluth Metals Limited is a private company that was formed to finance the
exploration and development of the copper-nickel-PGE mineralization on
Wallbridge's Maturi Extension Project in Minnesota.
Wallbridge Mining Company Limited currently holds 10 million shares in
DML, with Wallbridge shareholders holding approximately 11,850,000 Special
Warrants convertible for no additional consideration into free trading shares
on completion of the IPO, which is being targeted for July of this year.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in DML, which has a significant property position in the rapidly emerging
Duluth base metal camp.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever(at)wallbridgemining.com; Duluth Metals Limited, Henry Sandri,
President & CEO, Tel: (661) 340-7755, Email: hsandri(at)selectresources.us;
Christopher Dundas, Tel: (416) 317-6749; CHF Investor Relations, Mara
Strazdins, P.Geo., Vice President, Tel: (416) 868-1079 ext. 222, Email:
mara(at)chfir.com
Attention Business Editors:
Wallbridge Accelerates Sudbury North Range Exploration
TORONTO, June 28 /CNW/ - Wallbridge Mining Company Limited (TSX: WM)
announced today it has significantly increased the scope of its Sudbury-area
exploration by entering into a Joint Venture Agreement with Crowflight
Minerals Inc. on its Peter's Roost Property. The Joint Venture covers an area
of 500 square kilometers and is strategically located in the North Range of
the Sudbury Igneous Complex ("SIC"). In this area, Crowflight and Wallbridge
have staked a total of 492 claim units covering 26 conductive targets that
were identified by Crowflight's 2004 Megatem airborne EM survey.
Commenting on the Joint Venture, Alar Soever, President of Wallbridge
stated, "This Joint Venture adds a large number of high quality exploration
targets to our already large Sudbury area portfolio. As the nickel-copper-PGE
mineralization found on the Trill Offset last year, and the nickel
mineralization we intersected this year on the East Range attest, conductors
in the Sudbury footwall environment are attractive exploration targets. The
combination of these newly defined conductive targets with our demonstrated
success in finding mineralization in this environment makes this Joint Venture
a very good fit for Wallbridge, with an excellent opportunity for early
exploration success."
The Peter's Roost Property consists of 38 claims (6,994 ha). Under the
terms of the Joint Venture Agreement between Crowflight and Wallbridge,
Wallbridge has the right to earn a conditional 50% interest in the Joint
Venture Property by expending $700,000 prior to the end of 2007. Wallbridge
can increase this interest to a 70% vested interest in any of four specific
Project Areas within the Joint Venture Property by spending an additional
$1,000,000 on each project area it wishes to vest in prior to the end of 2010.
In April, Wallbridge acquired 12 additional claims (approximately 927
hectares) in the Area of Common Interest as defined under the Agreement. For
any new properties Wallbridge acquires within the Joint Venture Area (a 500
square kilometre area within the North Range of the SIC), Crowflight will have
the right to acquire a 25% participating interest by reimbursing Wallbridge
50% of its exploration costs to that point at such time as an Indicated
Resource is identified.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth base metal camp.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, (705) 682-9297, Email: asoever(at)wallbridgemining.com; CHF
Investor Relations, Mara Strazdins, P.Geo., Vice President, Tel: (416)
868-1079 ext. 222, Email: mara(at)chfir.com
Wallbridge Accelerates Sudbury North Range Exploration
TORONTO, June 28 /CNW/ - Wallbridge Mining Company Limited (TSX: WM)
announced today it has significantly increased the scope of its Sudbury-area
exploration by entering into a Joint Venture Agreement with Crowflight
Minerals Inc. on its Peter's Roost Property. The Joint Venture covers an area
of 500 square kilometers and is strategically located in the North Range of
the Sudbury Igneous Complex ("SIC"). In this area, Crowflight and Wallbridge
have staked a total of 492 claim units covering 26 conductive targets that
were identified by Crowflight's 2004 Megatem airborne EM survey.
Commenting on the Joint Venture, Alar Soever, President of Wallbridge
stated, "This Joint Venture adds a large number of high quality exploration
targets to our already large Sudbury area portfolio. As the nickel-copper-PGE
mineralization found on the Trill Offset last year, and the nickel
mineralization we intersected this year on the East Range attest, conductors
in the Sudbury footwall environment are attractive exploration targets. The
combination of these newly defined conductive targets with our demonstrated
success in finding mineralization in this environment makes this Joint Venture
a very good fit for Wallbridge, with an excellent opportunity for early
exploration success."
The Peter's Roost Property consists of 38 claims (6,994 ha). Under the
terms of the Joint Venture Agreement between Crowflight and Wallbridge,
Wallbridge has the right to earn a conditional 50% interest in the Joint
Venture Property by expending $700,000 prior to the end of 2007. Wallbridge
can increase this interest to a 70% vested interest in any of four specific
Project Areas within the Joint Venture Property by spending an additional
$1,000,000 on each project area it wishes to vest in prior to the end of 2010.
In April, Wallbridge acquired 12 additional claims (approximately 927
hectares) in the Area of Common Interest as defined under the Agreement. For
any new properties Wallbridge acquires within the Joint Venture Area (a 500
square kilometre area within the North Range of the SIC), Crowflight will have
the right to acquire a 25% participating interest by reimbursing Wallbridge
50% of its exploration costs to that point at such time as an Indicated
Resource is identified.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth base metal camp.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, (705) 682-9297, Email: asoever(at)wallbridgemining.com; CHF
Investor Relations, Mara Strazdins, P.Geo., Vice President, Tel: (416)
868-1079 ext. 222, Email: mara(at)chfir.com
Attention Business Editors:
Wallbridge Adds Key Sudbury North Range Property
TORONTO, July 11 /CNW/ - Wallbridge Mining Company Limited (TSX: WM)
announced today that it had acquired another key piece of property for its
Sudbury North Range exploration strategy, by signing a joint venture agreement
with Pele Mountain Resources Inc.
This latest in a series of acquisitions, brings Wallbridge's total
acquisitions for its North Range Project to 33,000 hectares. As a result
Wallbridge now controls over 61,000 hectares in the Sudbury area, the third
largest land holding after only Inco and Falconbridge.
Commenting on the Joint Venture, Alar Soever, President of Wallbridge
stated, "This Joint Venture adds a key piece of property to our North Range
Project. Our experience in Sudbury indicated to us that there is a lot of
potential for discovery beyond what has been traditionally explored in the
proximal footwall of the North Range and this was confirmed by the
identification by Pele of a new offset dyke in this environment. The potential
of this area is also highlighted by the fact that Falconbridge has recently
staked over 600 claim units immediately west of the Pele property, the largest
single land acquisition by one of the majors in the camp in many years. The
Pele acquisition adds to Wallbridge's already dominant land position in the
Sudbury North Range, which was acquired by staking and the joint venture with
Crowflight announced two weeks ago (see Press Release dated June 28, 2006).
Our recent acquisitions give us a considerable strategic advantage in the new
very exciting exploration play in the Sudbury North Range."
The Pele Offset Property consists of 353 claim units (5,648 hectares)
located north of the Levack area on the North Range of the Sudbury Igneous
Complex ("SIC"). The Levack area hosts a number of nickel-copper deposits at
the contact of the SIC. It is also particularly well known for the number of
copper-nickel-PGE deposits that have been found in the footwall rocks in this
area. The Pele Offset Property covers the discovery outcrop and approximately
four kilometers of the potential strike extension of the Pele Offset dyke,
which was discovered in 2005. The property has potential to host offset dyke
related nickel-copper-PGE mineralization as well as footwall copper-PGE
mineralization related to major structures which cross the property.
Wallbridge will operate the Project during the option period and can earn
a 60-percent interest by issuing 1.05 million of its common shares to Pele and
by making $1.2-million in work expenditures by year-end 2009, as detailed
below.
2006: 150,000 shares upon signing; an additional 200,000 shares and
$100,000 work commitment by year-end.
2007: An additional 300,000 shares and an additional $300,000 work
commitment by year-end.
2008: An additional 400,000 shares and an additional $300,000 work
commitment by year-end.
2009: An additional $500,000 work commitment by year-end.
The common shares issued to Pele will all be subject to a statutory hold
period expiring four (4) months and one (1) day from the respective dates of
issuance. Wallbridge can increase its interest to 72.5 percent by completing a
bankable feasibility study and arranging the financing for the project through
to commercial production.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth base metal camp.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited: Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever(at)wallbridgemining.com; CHF Investor Relations: Mara Strazdins,
P.Geo., Vice President, Tel: (416) 868-1079 ext. 222, Email: mara(at)chfir.com
Wallbridge Adds Key Sudbury North Range Property
TORONTO, July 11 /CNW/ - Wallbridge Mining Company Limited (TSX: WM)
announced today that it had acquired another key piece of property for its
Sudbury North Range exploration strategy, by signing a joint venture agreement
with Pele Mountain Resources Inc.
This latest in a series of acquisitions, brings Wallbridge's total
acquisitions for its North Range Project to 33,000 hectares. As a result
Wallbridge now controls over 61,000 hectares in the Sudbury area, the third
largest land holding after only Inco and Falconbridge.
Commenting on the Joint Venture, Alar Soever, President of Wallbridge
stated, "This Joint Venture adds a key piece of property to our North Range
Project. Our experience in Sudbury indicated to us that there is a lot of
potential for discovery beyond what has been traditionally explored in the
proximal footwall of the North Range and this was confirmed by the
identification by Pele of a new offset dyke in this environment. The potential
of this area is also highlighted by the fact that Falconbridge has recently
staked over 600 claim units immediately west of the Pele property, the largest
single land acquisition by one of the majors in the camp in many years. The
Pele acquisition adds to Wallbridge's already dominant land position in the
Sudbury North Range, which was acquired by staking and the joint venture with
Crowflight announced two weeks ago (see Press Release dated June 28, 2006).
Our recent acquisitions give us a considerable strategic advantage in the new
very exciting exploration play in the Sudbury North Range."
The Pele Offset Property consists of 353 claim units (5,648 hectares)
located north of the Levack area on the North Range of the Sudbury Igneous
Complex ("SIC"). The Levack area hosts a number of nickel-copper deposits at
the contact of the SIC. It is also particularly well known for the number of
copper-nickel-PGE deposits that have been found in the footwall rocks in this
area. The Pele Offset Property covers the discovery outcrop and approximately
four kilometers of the potential strike extension of the Pele Offset dyke,
which was discovered in 2005. The property has potential to host offset dyke
related nickel-copper-PGE mineralization as well as footwall copper-PGE
mineralization related to major structures which cross the property.
Wallbridge will operate the Project during the option period and can earn
a 60-percent interest by issuing 1.05 million of its common shares to Pele and
by making $1.2-million in work expenditures by year-end 2009, as detailed
below.
2006: 150,000 shares upon signing; an additional 200,000 shares and
$100,000 work commitment by year-end.
2007: An additional 300,000 shares and an additional $300,000 work
commitment by year-end.
2008: An additional 400,000 shares and an additional $300,000 work
commitment by year-end.
2009: An additional $500,000 work commitment by year-end.
The common shares issued to Pele will all be subject to a statutory hold
period expiring four (4) months and one (1) day from the respective dates of
issuance. Wallbridge can increase its interest to 72.5 percent by completing a
bankable feasibility study and arranging the financing for the project through
to commercial production.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth base metal camp.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited: Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever(at)wallbridgemining.com; CHF Investor Relations: Mara Strazdins,
P.Geo., Vice President, Tel: (416) 868-1079 ext. 222, Email: mara(at)chfir.com
Antwort auf Beitrag Nr.: 21.087.643 von froschie am 05.04.06 15:37:28Attention Business Editors:
Wallbridge Announces Private Placement Financings
TORONTO, July 12 /CNW/ - Wallbridge Mining Company Limited (TSX:WM)
announces that to date it has closed two private placement tranches and is
currently in the process of closing further tranches of non-brokered private
placements of (i) 5,490,000 flow-through common shares at $0.32 per
flow-through common share and (ii) up to 1,250,000 non flow- through Units at
$0.32 per Unit. Total gross proceeds for the private placements will be
$2,156,800.
Each non flow-through Unit consists of one common share in the capital of
the Corporation and one half of one common share purchase warrant. Each whole
common share purchase warrant will entitle the holder thereof to purchase an
additional common share of the Corporation at $0.40 per share at any time on
or prior to 24 months following the closing date.
The flow-through private placement is entirely subscribed for and the non
flow-through Unit offering is presently receiving further subscriptions.
The funds from the flow-through private placement will be used to advance
the exploration of its Sudbury area properties. The funds received from the
non flow-through Unit offering will be used for general corporate purposes.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth base metal camp.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever(at)wallbridgemining.com; CHF Investor Relations, Mara Strazdins,
P.Geo., Vice President, Tel: (416) 868-1079 ext. 222, Email: mara(at)chfir.com
Wallbridge Announces Private Placement Financings
TORONTO, July 12 /CNW/ - Wallbridge Mining Company Limited (TSX:WM)
announces that to date it has closed two private placement tranches and is
currently in the process of closing further tranches of non-brokered private
placements of (i) 5,490,000 flow-through common shares at $0.32 per
flow-through common share and (ii) up to 1,250,000 non flow- through Units at
$0.32 per Unit. Total gross proceeds for the private placements will be
$2,156,800.
Each non flow-through Unit consists of one common share in the capital of
the Corporation and one half of one common share purchase warrant. Each whole
common share purchase warrant will entitle the holder thereof to purchase an
additional common share of the Corporation at $0.40 per share at any time on
or prior to 24 months following the closing date.
The flow-through private placement is entirely subscribed for and the non
flow-through Unit offering is presently receiving further subscriptions.
The funds from the flow-through private placement will be used to advance
the exploration of its Sudbury area properties. The funds received from the
non flow-through Unit offering will be used for general corporate purposes.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth base metal camp.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever(at)wallbridgemining.com; CHF Investor Relations, Mara Strazdins,
P.Geo., Vice President, Tel: (416) 868-1079 ext. 222, Email: mara(at)chfir.com
Attention Business Editors:
Wallbridge Announces Private Placement Financings
TORONTO, Aug. 3 /CNW/ - Wallbridge Mining Company Limited (TSX:WM)
announces that it has now completed the non-brokered private placements
contemplated in its July 12, 2006 press release. Both the flow-through and the
non-flow through private placements were oversubscribed. A total of 5,500,000
flow-through common shares were issued at $0.32 per share and 1,500,000 non
flow-through units were issued at $0.32 per unit, each unit consisting of one
common share of the Corporation and one-half of one common share purchase
warrant exercisable at $0.40 per share on or before July 7, 2008.
The funds from the flow-through private placement will be used for
exploration purposes and the funds from the non flow-through unit offering
will be used for general corporate purposes.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth base metal camp.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; CHF Investor Relations, Mara Strazdins,
P.Geo., Vice President, Tel: (416) 868-1079 ext. 222, Email: mara@chfir.com
Wallbridge Announces Private Placement Financings
TORONTO, Aug. 3 /CNW/ - Wallbridge Mining Company Limited (TSX:WM)
announces that it has now completed the non-brokered private placements
contemplated in its July 12, 2006 press release. Both the flow-through and the
non-flow through private placements were oversubscribed. A total of 5,500,000
flow-through common shares were issued at $0.32 per share and 1,500,000 non
flow-through units were issued at $0.32 per unit, each unit consisting of one
common share of the Corporation and one-half of one common share purchase
warrant exercisable at $0.40 per share on or before July 7, 2008.
The funds from the flow-through private placement will be used for
exploration purposes and the funds from the non flow-through unit offering
will be used for general corporate purposes.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth base metal camp.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; CHF Investor Relations, Mara Strazdins,
P.Geo., Vice President, Tel: (416) 868-1079 ext. 222, Email: mara@chfir.com
Attention Business Editors:
Wallbridge Announces Approval of Extension to Complete Special Warrant Dividend.
Duluth Metals to Proceed with Stock Exchange Listing
TORONTO, Aug. 4 /CNW/ - Wallbridge Mining Company Limited (TSX: WM) today
announced that a new deadline of October 31, 2006 has been approved for
completing the performance conditions attached to the Special Warrants issued
by Duluth Metals Limited (formerly Wallbridge America Limited) ("Duluth") on
November 15, 2005 to shareholders of Wallbridge Mining Company Limited
("Wallbridge"). Duluth's shareholders and the Toronto Stock Exchange have
approved the extension.
Duluth filed its preliminary prospectus with the Ontario, British
Columbia and Alberta Securities Commissions on June 20, 2006 and is proceeding
in a timely fashion to finalize its prospectus and complete its IPO which
would complete all the Special Warrant conditions.
About Duluth Metals
Duluth Metals Limited is involved in the acquisition and exploration of
copper, nickel and platinum group element (PGE) deposits. The Company's
principal property consists of four state leases, two federal prospecting
permits and a private lease covering 14 parcels of lands within the Duluth
Complex in northeastern Minnesota known as the Maturi Extension Property.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: ON WALLBRIDGE MINING please visit the Company's
website at www.wallbridgemining.com, or contact: Wallbridge Mining Company
Limited, Alar Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; CHF Investor Relations, Mara Strazdins,
P.Geo., Vice President, Tel: (416) 868-1079 ext. 222, Email:
mara@chfir.com; FOR FURTHER INFORMATION ON DULUTH METALS please contact:
Duluth Metals Limited, Henry Sandri, President and Chief Executive Officer,
Tel: (661) 340-7755, Email: hsandri@selectresources.com; Christopher C.
Dundas, Chairman and Chief Financial Officer, Tel: (416) 317-6749, Email:
ccdundas@murray.ca
Wallbridge Announces Approval of Extension to Complete Special Warrant Dividend.
Duluth Metals to Proceed with Stock Exchange Listing
TORONTO, Aug. 4 /CNW/ - Wallbridge Mining Company Limited (TSX: WM) today
announced that a new deadline of October 31, 2006 has been approved for
completing the performance conditions attached to the Special Warrants issued
by Duluth Metals Limited (formerly Wallbridge America Limited) ("Duluth") on
November 15, 2005 to shareholders of Wallbridge Mining Company Limited
("Wallbridge"). Duluth's shareholders and the Toronto Stock Exchange have
approved the extension.
Duluth filed its preliminary prospectus with the Ontario, British
Columbia and Alberta Securities Commissions on June 20, 2006 and is proceeding
in a timely fashion to finalize its prospectus and complete its IPO which
would complete all the Special Warrant conditions.
About Duluth Metals
Duluth Metals Limited is involved in the acquisition and exploration of
copper, nickel and platinum group element (PGE) deposits. The Company's
principal property consists of four state leases, two federal prospecting
permits and a private lease covering 14 parcels of lands within the Duluth
Complex in northeastern Minnesota known as the Maturi Extension Property.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: ON WALLBRIDGE MINING please visit the Company's
website at www.wallbridgemining.com, or contact: Wallbridge Mining Company
Limited, Alar Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; CHF Investor Relations, Mara Strazdins,
P.Geo., Vice President, Tel: (416) 868-1079 ext. 222, Email:
mara@chfir.com; FOR FURTHER INFORMATION ON DULUTH METALS please contact:
Duluth Metals Limited, Henry Sandri, President and Chief Executive Officer,
Tel: (661) 340-7755, Email: hsandri@selectresources.com; Christopher C.
Dundas, Chairman and Chief Financial Officer, Tel: (416) 317-6749, Email:
ccdundas@murray.ca
Attention Business Editors:
Wallbridge Announces Board and Management Appointments
TORONTO, Sept. 7 /CNW/ - Wallbridge Mining Company Limited (TSX: WM) is
pleased to announce the appointment of René R. Galipeau as a director of the
Company and the appointment of Michael Pigozzo as Chief Financial Officer.
Mr. Galipeau has also been appointed as Chairman of the Audit Committee
in replacement of Mr. Christopher Dundas, who remains a director of the
Company, but will be devoting most of his time to Duluth Metals Limited.
René R. Galipeau, CGA, is the current Vice-Chairman and CEO of Nuinsco
Resources Limited. He has been a Director of Nuinsco since 1993. A seasoned
mining executive with 34 years experience, René Galipeau has held senior
positions with a number of gold and base metal mining companies in Canada and
the United States, most recently as Executive Vice-President and CFO for
Breakwater Resources Ltd. Mr. Galipeau is also a director of several public
and private companies.
Michael Pigozzo is a graduate of Laurentian University with an Honours
Bachelor of Commerce degree and a CMA designation. He is a Member of the
Society of Management Accountants of Ontario. Michael was formerly Senior
Financial Accountant/Stock Options & ESPP Administrator with an enterprise
content management software vendor. Prior to that, he held positions as Senior
Financial Analyst, and Senior Accountant with both private and publicly-traded
automotive parts manufacturers.
Michael Pigozzo replaces Guy Mahaffy, who has left the Company to pursue
other interests
"René Galipeau comes to Wallbridge with excellent mining experience and a
solid financial background, and will be a very valuable director," said Risto
Laamanen, Wallbridge Chairman and Chief Executive Officer. "We look forward to
having both Mr. Galipeau and Mr. Pigozzo as a part of the Wallbridge team."
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; CHF Investor Relations, Mara Strazdins,
P.Geo., Vice President, Tel: (416) 868-1079 ext. 222, Email: mara@chfir.com
Wallbridge Announces Board and Management Appointments
TORONTO, Sept. 7 /CNW/ - Wallbridge Mining Company Limited (TSX: WM) is
pleased to announce the appointment of René R. Galipeau as a director of the
Company and the appointment of Michael Pigozzo as Chief Financial Officer.
Mr. Galipeau has also been appointed as Chairman of the Audit Committee
in replacement of Mr. Christopher Dundas, who remains a director of the
Company, but will be devoting most of his time to Duluth Metals Limited.
René R. Galipeau, CGA, is the current Vice-Chairman and CEO of Nuinsco
Resources Limited. He has been a Director of Nuinsco since 1993. A seasoned
mining executive with 34 years experience, René Galipeau has held senior
positions with a number of gold and base metal mining companies in Canada and
the United States, most recently as Executive Vice-President and CFO for
Breakwater Resources Ltd. Mr. Galipeau is also a director of several public
and private companies.
Michael Pigozzo is a graduate of Laurentian University with an Honours
Bachelor of Commerce degree and a CMA designation. He is a Member of the
Society of Management Accountants of Ontario. Michael was formerly Senior
Financial Accountant/Stock Options & ESPP Administrator with an enterprise
content management software vendor. Prior to that, he held positions as Senior
Financial Analyst, and Senior Accountant with both private and publicly-traded
automotive parts manufacturers.
Michael Pigozzo replaces Guy Mahaffy, who has left the Company to pursue
other interests
"René Galipeau comes to Wallbridge with excellent mining experience and a
solid financial background, and will be a very valuable director," said Risto
Laamanen, Wallbridge Chairman and Chief Executive Officer. "We look forward to
having both Mr. Galipeau and Mr. Pigozzo as a part of the Wallbridge team."
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; CHF Investor Relations, Mara Strazdins,
P.Geo., Vice President, Tel: (416) 868-1079 ext. 222, Email: mara@chfir.com
Attention Business Editors:
Wallbridge Mining Extends Mineralization and Tests New Targets
TORONTO, Sept. 18 /CNW/ - Wallbridge Mining Company Limited (TSX: WM,
FWB: WC7) is continuing its aggressive summer and fall exploration program in
the Sudbury Mining camp with its Joint Venture partners, Lonmin Plc and
Xstrata Nickel. Mineralization has been extended on the Frost Lake property;
drilling is in progress to test newly defined geophysical conductors on the
Skynner Lake property, and a deep drill target is being tested on the Trill
Property. Wallbridge Mining has the third largest land position after Xstrata
Nickel and Inco Limited in the Sudbury Basin where there is currently a high
level of exploration activity.
Frost Lake Property
Recent drilling at Wallbridge's Amy Lake Target on the Frost Lake
property has intersected additional platinum group element ("PGE")
mineralization, extending the previously identified zone an additional
50 metres to the north. This extensive zone of low-sulphide PGE mineralization
is currently interpreted as a dispersion halo surrounding possibly richer
mineralization at depth. Borehole electromagnetic ("BHEM") and borehole
induced-polarization ("BHIP") geophysical surveys are currently being
conducted on the Amy Lake drill holes to further characterize the
mineralization and establish targets for additional drilling. Highlights of
the analytical results for the Amy Lake Target are given below.
-------------------------------------------------------------------------
From To Length TPM Pt Pd Au
m m m ppm ppm ppm ppm
-------------------------------------------------------------------------
Drillhole WC-020
64.00 71.00 7.00 0.701 0.253 0.352 0.097
134.50 138.50 4.00 3.980 2.035 1.581 0.364
150.00 151.50 1.50 0.920 0.384 0.429 0.107
168.50 174.50 6.00 1.143 0.543 0.523 0.077
-------------------------------------------------------------------------
Drillhole WC-023
46.00 48.00 2.00 5.080 2.485 2.106 0.489
including... 46.00 47.00 1.00 8.721 4.230 3.530 0.961
62.70 66.00 3.30 1.000 0.457 0.521 0.021
84.50 96.50 12.00 1.064 0.547 0.456 0.061
including... 95.00 96.50 1.50 4.050 2.180 1.710 0.160
111.50 122.00 10.50 1.665 0.698 0.714 0.254
including... 113.00 117.50 4.50 3.188 1.314 1.347 0.527
including... 116.00 117.50 1.50 6.640 2.690 2.680 1.270
-------------------------------------------------------------------------
-----------------------------------------
Ni Cu S
% % %
-----------------------------------------
Drillhole WC-020
0.06 0.14 0.37
0.09 0.19 0.83
0.03 0.09 0.21
0.03 0.06 0.18
-----------------------------------------
Drillhole WC-023
0.09 0.22 0.34
including... 0.15 0.40 0.51
0.04 0.05 0.06
0.02 0.03 0.09
including... 0.03 0.06 0.03
0.03 0.11 0.10
including... 0.05 0.17 0.13
including... 0.08 0.28 0.30
-----------------------------------------
Skynner Lake Property
A 1500 meter drilling campaign is currently underway to test five new
geophysical targets within three conductive trends. On the property,
geological mapping has delineated a 1500 meter long and 100 metre wide
concentric zone of Sudbury Breccia, a favourable host rock to many ore
deposits in the Sudbury Basin. The zone has a similar geometry, thermal
signature and level of Cl- and trace element enrichment as breccia belts that
host most of the major copper- and PGE-rich footwall deposits around the
Sudbury Basin, including FNX Mining's recently discovered Levack Footwall
Zone, Xstrata Nickel's Nickel Rim South and Strathcona Deep Copper Deposits,
and Inco's 153 Orebody at McCreedy East. During the 2006 summer season,
Geosystem Canada Inc. conducted a 103 station deep penetrating Audio-Frequency
Magneto-Telluric ("AMT") geophysical survey on the property to explore the
strike length of the breccia belt to depth. The AMT survey identified the
three conductive trends that are coincident with the favourable breccia belt
including the five new geophysical targets, which are being drill tested
starting September 13, 2006.
Trill Property
Wallbridge Mining is currently drill-testing a 1.7 mgal gravity anomaly
that was defined on the Trill property during a June 2006 survey by Abitibi
Geophysics. The anomaly is located (approximately) 4.5 km south of the
mineralised Trillabelle Embayment. It covers a minimum area of 2 by 4 km and
was defined with 315 gravity station measurements distributed along three
lines oriented perpendicular to the Sudbury Igneous Complex ("SIC") contact.
Gravity measurements were recorded at 100m intervals and survey lines extended
two km into the SIC and 8 km into the adjacent footwall rocks. Outcrops
overlying the area are predominantly low density granite and quartz monzonite,
which are cut by a regional suite of diabase dykes. Near the centre of the
anomaly, regional and detailed mapping has identified a previously
unrecognised 100m x 600m band of Sudbury Breccia.
The gravity data were modelled using the densities of local outcrop
samples and published densities of Sudbury Sublayer, Norite and Granophyre and
take into account local and regional geology and structure, and topographic
features such as hills, valleys and swamps. Interpretation of the data
indicates that a large body of rock with densities similar to the SIC must be
present at depth to account for the gravity anomaly and that rocks exposed on
surface such as granite, quartz monzonite and diabase alone cannot account for
it.
In August 2006, following-up the density anomaly and the structural
model, Geosystem Canada Inc. completed a 30 station, deep penetrating AMT
survey. 2D inversion modelling of the AMT data identified the presence of
several low resistivity targets, between 100 and 1200 metres depth, which
coincide with the gravity anomaly and substantiate the structural model.
Drilling commenced in the first week of September to investigate the
origin of the coincident gravity and AMT anomalies. The target is being tested
initially by a 1250m borehole.
The Frost Lake property is part of the Xstrata Nickel 4X Joint Venture.
Wallbridge currently owns a 64% interest in these properties. Joint Venture
partner Xstrata Nickel owns the remaining 36%. The Trill and Skynner Lake
properties are part of the Sudbury Camp Joint Venture ("SCJV") with Lonmin Plc
("Lonmin"). Lonmin earns a 50% interest in any property on which a resource is
established and can increase its interest to 65% by funding work through to
commercial production.
Assays reported in this press release were completed at ALS Chemex in
Vancouver, B.C. using a standard fire assay for Au, Pt, Pd and sodium peroxide
fusion/ICP finish for base metals.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; CHF Investor Relations, Mara Strazdins,
P.Geo., Vice President, Tel: (416) 868-1079 ext. 222, Email: mara@chfir.com
Wallbridge Mining Extends Mineralization and Tests New Targets
TORONTO, Sept. 18 /CNW/ - Wallbridge Mining Company Limited (TSX: WM,
FWB: WC7) is continuing its aggressive summer and fall exploration program in
the Sudbury Mining camp with its Joint Venture partners, Lonmin Plc and
Xstrata Nickel. Mineralization has been extended on the Frost Lake property;
drilling is in progress to test newly defined geophysical conductors on the
Skynner Lake property, and a deep drill target is being tested on the Trill
Property. Wallbridge Mining has the third largest land position after Xstrata
Nickel and Inco Limited in the Sudbury Basin where there is currently a high
level of exploration activity.
Frost Lake Property
Recent drilling at Wallbridge's Amy Lake Target on the Frost Lake
property has intersected additional platinum group element ("PGE")
mineralization, extending the previously identified zone an additional
50 metres to the north. This extensive zone of low-sulphide PGE mineralization
is currently interpreted as a dispersion halo surrounding possibly richer
mineralization at depth. Borehole electromagnetic ("BHEM") and borehole
induced-polarization ("BHIP") geophysical surveys are currently being
conducted on the Amy Lake drill holes to further characterize the
mineralization and establish targets for additional drilling. Highlights of
the analytical results for the Amy Lake Target are given below.
-------------------------------------------------------------------------
From To Length TPM Pt Pd Au
m m m ppm ppm ppm ppm
-------------------------------------------------------------------------
Drillhole WC-020
64.00 71.00 7.00 0.701 0.253 0.352 0.097
134.50 138.50 4.00 3.980 2.035 1.581 0.364
150.00 151.50 1.50 0.920 0.384 0.429 0.107
168.50 174.50 6.00 1.143 0.543 0.523 0.077
-------------------------------------------------------------------------
Drillhole WC-023
46.00 48.00 2.00 5.080 2.485 2.106 0.489
including... 46.00 47.00 1.00 8.721 4.230 3.530 0.961
62.70 66.00 3.30 1.000 0.457 0.521 0.021
84.50 96.50 12.00 1.064 0.547 0.456 0.061
including... 95.00 96.50 1.50 4.050 2.180 1.710 0.160
111.50 122.00 10.50 1.665 0.698 0.714 0.254
including... 113.00 117.50 4.50 3.188 1.314 1.347 0.527
including... 116.00 117.50 1.50 6.640 2.690 2.680 1.270
-------------------------------------------------------------------------
-----------------------------------------
Ni Cu S
% % %
-----------------------------------------
Drillhole WC-020
0.06 0.14 0.37
0.09 0.19 0.83
0.03 0.09 0.21
0.03 0.06 0.18
-----------------------------------------
Drillhole WC-023
0.09 0.22 0.34
including... 0.15 0.40 0.51
0.04 0.05 0.06
0.02 0.03 0.09
including... 0.03 0.06 0.03
0.03 0.11 0.10
including... 0.05 0.17 0.13
including... 0.08 0.28 0.30
-----------------------------------------
Skynner Lake Property
A 1500 meter drilling campaign is currently underway to test five new
geophysical targets within three conductive trends. On the property,
geological mapping has delineated a 1500 meter long and 100 metre wide
concentric zone of Sudbury Breccia, a favourable host rock to many ore
deposits in the Sudbury Basin. The zone has a similar geometry, thermal
signature and level of Cl- and trace element enrichment as breccia belts that
host most of the major copper- and PGE-rich footwall deposits around the
Sudbury Basin, including FNX Mining's recently discovered Levack Footwall
Zone, Xstrata Nickel's Nickel Rim South and Strathcona Deep Copper Deposits,
and Inco's 153 Orebody at McCreedy East. During the 2006 summer season,
Geosystem Canada Inc. conducted a 103 station deep penetrating Audio-Frequency
Magneto-Telluric ("AMT") geophysical survey on the property to explore the
strike length of the breccia belt to depth. The AMT survey identified the
three conductive trends that are coincident with the favourable breccia belt
including the five new geophysical targets, which are being drill tested
starting September 13, 2006.
Trill Property
Wallbridge Mining is currently drill-testing a 1.7 mgal gravity anomaly
that was defined on the Trill property during a June 2006 survey by Abitibi
Geophysics. The anomaly is located (approximately) 4.5 km south of the
mineralised Trillabelle Embayment. It covers a minimum area of 2 by 4 km and
was defined with 315 gravity station measurements distributed along three
lines oriented perpendicular to the Sudbury Igneous Complex ("SIC") contact.
Gravity measurements were recorded at 100m intervals and survey lines extended
two km into the SIC and 8 km into the adjacent footwall rocks. Outcrops
overlying the area are predominantly low density granite and quartz monzonite,
which are cut by a regional suite of diabase dykes. Near the centre of the
anomaly, regional and detailed mapping has identified a previously
unrecognised 100m x 600m band of Sudbury Breccia.
The gravity data were modelled using the densities of local outcrop
samples and published densities of Sudbury Sublayer, Norite and Granophyre and
take into account local and regional geology and structure, and topographic
features such as hills, valleys and swamps. Interpretation of the data
indicates that a large body of rock with densities similar to the SIC must be
present at depth to account for the gravity anomaly and that rocks exposed on
surface such as granite, quartz monzonite and diabase alone cannot account for
it.
In August 2006, following-up the density anomaly and the structural
model, Geosystem Canada Inc. completed a 30 station, deep penetrating AMT
survey. 2D inversion modelling of the AMT data identified the presence of
several low resistivity targets, between 100 and 1200 metres depth, which
coincide with the gravity anomaly and substantiate the structural model.
Drilling commenced in the first week of September to investigate the
origin of the coincident gravity and AMT anomalies. The target is being tested
initially by a 1250m borehole.
The Frost Lake property is part of the Xstrata Nickel 4X Joint Venture.
Wallbridge currently owns a 64% interest in these properties. Joint Venture
partner Xstrata Nickel owns the remaining 36%. The Trill and Skynner Lake
properties are part of the Sudbury Camp Joint Venture ("SCJV") with Lonmin Plc
("Lonmin"). Lonmin earns a 50% interest in any property on which a resource is
established and can increase its interest to 65% by funding work through to
commercial production.
Assays reported in this press release were completed at ALS Chemex in
Vancouver, B.C. using a standard fire assay for Au, Pt, Pd and sodium peroxide
fusion/ICP finish for base metals.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; CHF Investor Relations, Mara Strazdins,
P.Geo., Vice President, Tel: (416) 868-1079 ext. 222, Email: mara@chfir.com
Attention Business Editors:
Wallbridge Mining to Participate in Natural Resources IDNR-TV Television Debut with Live Mining Panel Program
TORONTO, Sept. 29 /CNW/ - Wallbridge Mining Company Limited (TSX: WM,
FWB: WC7) invites its shareholders to watch IDNR-TV's debut launch program, a
live panel discussion on the "The Future of Mining and Social Life in Ontario"
with a number of other mining company representatives. IDNR-TV is Canada's
first natural resources based television station launching new programming
with a wide range of mining industry and related social issues topics. In
addition to Alar Soever, President of Wallbridge Mining, the panel
participants will include Terry McGibbon, President and CEO of FNX Mining,
Paul Davis, V.P. of Exploration of First Nickel, OMA President Chris Hudson,
Camese President Jon Baird, Caterpillar's Manager Dana Matson, First Nations
representative Peter Recollet, Steve Balch of Aeroquest International and
reputable freelance mining writer Stan Sudol.
"We are very pleased to participate in the launch of this new television
programming," stated Alar Soever, President of Wallbridge. "This type of
programming will help educate people about the mining industry and the
initiatives modern mining companies are taking with regards to safeguarding
our environment and making positive contributions to our communities.
Wallbridge is engaged in exploration throughout the Sudbury area and has
developed a reputation for protecting the environment and building positive
relationships with all our neighbours."
The program will debut this Monday, October 2nd at 6:00 pm on Personal
Digital Cable, Channel 945, and Channel 220 on the satellite dish.
More information about IDNR-TV is available at www.idnrtv.com.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; CHF Investor Relations, Mara Strazdins, B.Sc.
Geo., Vice President, Tel: (416) 868-1079 ext. 222, Email: mara@chfir.com
Wallbridge Mining to Participate in Natural Resources IDNR-TV Television Debut with Live Mining Panel Program
TORONTO, Sept. 29 /CNW/ - Wallbridge Mining Company Limited (TSX: WM,
FWB: WC7) invites its shareholders to watch IDNR-TV's debut launch program, a
live panel discussion on the "The Future of Mining and Social Life in Ontario"
with a number of other mining company representatives. IDNR-TV is Canada's
first natural resources based television station launching new programming
with a wide range of mining industry and related social issues topics. In
addition to Alar Soever, President of Wallbridge Mining, the panel
participants will include Terry McGibbon, President and CEO of FNX Mining,
Paul Davis, V.P. of Exploration of First Nickel, OMA President Chris Hudson,
Camese President Jon Baird, Caterpillar's Manager Dana Matson, First Nations
representative Peter Recollet, Steve Balch of Aeroquest International and
reputable freelance mining writer Stan Sudol.
"We are very pleased to participate in the launch of this new television
programming," stated Alar Soever, President of Wallbridge. "This type of
programming will help educate people about the mining industry and the
initiatives modern mining companies are taking with regards to safeguarding
our environment and making positive contributions to our communities.
Wallbridge is engaged in exploration throughout the Sudbury area and has
developed a reputation for protecting the environment and building positive
relationships with all our neighbours."
The program will debut this Monday, October 2nd at 6:00 pm on Personal
Digital Cable, Channel 945, and Channel 220 on the satellite dish.
More information about IDNR-TV is available at www.idnrtv.com.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; CHF Investor Relations, Mara Strazdins, B.Sc.
Geo., Vice President, Tel: (416) 868-1079 ext. 222, Email: mara@chfir.com
Attention Business Editors:
Wallbridge Mining and Lonmin Approve $2.1 million for 2007 Sudbury Camp Joint Venture Exploration Program
TORONTO, Oct. 3 /CNW/ - Wallbridge Mining Company Limited (TSX: WM,
FWB: WC7) today announced that Wallbridge and its joint venture partner Lonmin
Plc have approved C$2.1 million of funding to carry out the 2007 work program
on the Wallbridge/Lonmin Sudbury Camp Joint Venture ("SCJV") properties. The
funding provides for approximately 8,000 metres of diamond drilling and other
exploration work for the period from October 1st, 2006 to September 30th,
2007.
The SCJV properties cover 230 square kilometres of strategic land
holdings in the immediate footwall to the Sudbury Igneous Complex ("SIC").
2007 exploration is focused on areas in the footwall rocks to the SIC on
the Skynner Lake, Trill, Foy and Windy Lake properties which have favourable
geology coincident with geophysical targets. Drilling planned for the 2007
program includes:
- Testing AMT conductors associated with geochemically anomalous
Sudbury Breccia on the Skynner Lake Property;
- Offset Dyke and Breccia Belt geological and geophysical targets on
the Trill Property;
- Testing PGE-enriched zones of Sudbury Breccia flanked by coincident
IP anomalies on the Foy Property;
- Extending a drill hole through an unexplored portion of the SIC and
the footwall on the Windy Lake property; and
- Testing potential targets on the Trill West claims acquired in 2006;
Lonmin and Wallbridge will both contribute funds to the exploration
program, with Lonmin contributing C$1.22 million, and Wallbridge contributing
C$0.88 million.
"We look forward to the 2007 program, which builds on several years of
exploration work, which have generated a number of promising targets," stated
Alar Soever, President of Wallbridge. "This new funding in the SCJV allows us
to proceed with testing these targets. We look forward to a very productive
2007."
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; CHF Investor Relations, Mara Strazdins, B.Sc.
Geo., Vice President, Tel: (416) 868-1079 ext. 222, Email: mara@chfir.com
Wallbridge Mining and Lonmin Approve $2.1 million for 2007 Sudbury Camp Joint Venture Exploration Program
TORONTO, Oct. 3 /CNW/ - Wallbridge Mining Company Limited (TSX: WM,
FWB: WC7) today announced that Wallbridge and its joint venture partner Lonmin
Plc have approved C$2.1 million of funding to carry out the 2007 work program
on the Wallbridge/Lonmin Sudbury Camp Joint Venture ("SCJV") properties. The
funding provides for approximately 8,000 metres of diamond drilling and other
exploration work for the period from October 1st, 2006 to September 30th,
2007.
The SCJV properties cover 230 square kilometres of strategic land
holdings in the immediate footwall to the Sudbury Igneous Complex ("SIC").
2007 exploration is focused on areas in the footwall rocks to the SIC on
the Skynner Lake, Trill, Foy and Windy Lake properties which have favourable
geology coincident with geophysical targets. Drilling planned for the 2007
program includes:
- Testing AMT conductors associated with geochemically anomalous
Sudbury Breccia on the Skynner Lake Property;
- Offset Dyke and Breccia Belt geological and geophysical targets on
the Trill Property;
- Testing PGE-enriched zones of Sudbury Breccia flanked by coincident
IP anomalies on the Foy Property;
- Extending a drill hole through an unexplored portion of the SIC and
the footwall on the Windy Lake property; and
- Testing potential targets on the Trill West claims acquired in 2006;
Lonmin and Wallbridge will both contribute funds to the exploration
program, with Lonmin contributing C$1.22 million, and Wallbridge contributing
C$0.88 million.
"We look forward to the 2007 program, which builds on several years of
exploration work, which have generated a number of promising targets," stated
Alar Soever, President of Wallbridge. "This new funding in the SCJV allows us
to proceed with testing these targets. We look forward to a very productive
2007."
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element (PGE) deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; CHF Investor Relations, Mara Strazdins, B.Sc.
Geo., Vice President, Tel: (416) 868-1079 ext. 222, Email: mara@chfir.com
Antwort auf Beitrag Nr.: 21.087.643 von froschie am 05.04.06 15:37:28Attention Business Editors:
Wallbridge Completes Acquisition of Broken Hammer and Parkin Resources from Xstrata Nickel
TORONTO, Oct. 5 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced that it has concluded the restructuring of its 4X Joint
Venture with Xstrata Nickel ("Xstrata"), formerly Falconbridge Limited thereby
acquiring Xstrata Nickel's 36% interest in the Broken Hammer Resource on the
Wisner Property, as well as the Parkin Offset Property. As a result of the
restructuring, Wallbridge will have a 98.5% interest in both properties, with
Falconbridge's 1.5% interest satisfied solely by a 1.5% Net Smelter Royalty
payable on production from the properties.
In return, Xstrata Nickel will increase its interest to 50% in the Frost
Lake Property, as well as the remainder of the Wisner Property, excluding the
6 claims surrounding the Broken Hammer Zone, subject to Xstrata Nickel
retroactively funding its 50% share of the exploration expenditures incurred
on these properties since January 1, 2005. Exploration on both of these
properties will continue in Joint Venture with Xstrata with Wallbridge as
Operator. Should Xstrata elect not to fund their share of expenditures on
either of the two properties, their interest will be diluted in proportion to
the unfunded expenditures.
The Broken Hammer Resource is a shallowly plunging surface zone of vein
and vein stockwork hosted copper-PGE mineralization. An initial mineral
resources estimate was completed by David Rennie, P.Geo. of Roscoe Postle
Associates Inc. ("RPA") for the Broken Hammer Zone on the Wisner Property in
November 2005. The total Inferred Mineral Resource as estimated by RPA to
NI-43-101 standards, is 251,000 tonnes at a grade of 3.80 g TPM/t (1.56 g/t
Pd, 1.62 g/t Pt, and 0.61 g/t Au), 1.00% copper (Cu), and 0.10% nickel (Ni).
(For details see Press Release dated November 29, 2005).
An estimate of the mineral resource on the Parkin Offset property to
NI 43-101 standards prepared in 2002 for Wallbridge by Alar Soever, P.Geo. of
Watts, Griffis and McOuat, Consulting Geologists and Engineers ("WGM")
reported Indicated Resources of 264,000 tonnes at a grade of 0.70% Cu,
0.65% Ni, 0.62 g Pt/t, 0.80 g Pd/t and 0.23 g Au/t and Inferred Resources of
87,000 tonnes at a grade of 0.65% Cu, 0.42% Ni, 1.17 g Pt/t, 1.07 g Pd/t and
0.55 g Au/t.
"We are very pleased to have reached this agreement with Xstrata, which
benefits both companies" stated Alar Soever, President of Wallbridge.
"Securing the resources at Broken Hammer and Parkin allows us to explore a
variety of scenarios for advancing these two properties. In return, Xstrata
gets the increased exposure to the excellent exploration potential on both the
Frost Lake and Wisner properties that it desired. The fact that we were able
to conclude these agreements, over the period which saw Xstrata take over
Falconbridge, is a testament to the Falconbridge/Xstrata team. We welcome
Xstrata to Sudbury and look forward to working with them to advance these
properties."
Xstrata retains a right to buy back to a 60% interest at the feasibility
stage in any deposit which contains in excess of US$750 million of contained
metal by incurring 200% of Wallbridge's total expenditures made after
January 1, 2005 . The following metal prices in US$ will be used to determine
the contained metal value of the Reserve and Resources:
Nickel $4.50 per pound
Copper $1.00 per pound
Cobalt $15.00 per pound
Platinum $700.00 per ounce
Palladium $200.00 per ounce
Gold $400.00 per ounce
Xstrata also has a one-time option to reacquire a 50% interest in the
Broken Hammer and Parkin Properties if Commercial Production from the
properties is not achieved within five years by funding work on the Property
until it incurs 200% of Wallbridge's total Expenditures incurred after
January 1, 2005. This provision is subject to Wallbridge being able to acquire
the necessary permits to achieve Commercial Production, provided it is
pursuing such permits diligently.
Xstrata also retains the right to process nickel ores from the properties
at fair rates that take into account the cost structure and efficiencies of
the designated facilities. For ores in which less than 33% of the contained
metal value is contributed by nickel Wallbridge shall have the right to seek
competitive bids for the processing of the ore, or to investigate the
feasibility of partially or entirely processing the material itself. Xstrata
retains the right of first refusal to process non-nickel ores by matching the
terms available to Wallbridge.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; CHF Investor Relations, Mara Strazdins,
B.Sc.Geo., Vice President, Tel: (416) 868-1079 ext. 222, Email:
mara@chfir.com
Wallbridge Completes Acquisition of Broken Hammer and Parkin Resources from Xstrata Nickel
TORONTO, Oct. 5 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced that it has concluded the restructuring of its 4X Joint
Venture with Xstrata Nickel ("Xstrata"), formerly Falconbridge Limited thereby
acquiring Xstrata Nickel's 36% interest in the Broken Hammer Resource on the
Wisner Property, as well as the Parkin Offset Property. As a result of the
restructuring, Wallbridge will have a 98.5% interest in both properties, with
Falconbridge's 1.5% interest satisfied solely by a 1.5% Net Smelter Royalty
payable on production from the properties.
In return, Xstrata Nickel will increase its interest to 50% in the Frost
Lake Property, as well as the remainder of the Wisner Property, excluding the
6 claims surrounding the Broken Hammer Zone, subject to Xstrata Nickel
retroactively funding its 50% share of the exploration expenditures incurred
on these properties since January 1, 2005. Exploration on both of these
properties will continue in Joint Venture with Xstrata with Wallbridge as
Operator. Should Xstrata elect not to fund their share of expenditures on
either of the two properties, their interest will be diluted in proportion to
the unfunded expenditures.
The Broken Hammer Resource is a shallowly plunging surface zone of vein
and vein stockwork hosted copper-PGE mineralization. An initial mineral
resources estimate was completed by David Rennie, P.Geo. of Roscoe Postle
Associates Inc. ("RPA") for the Broken Hammer Zone on the Wisner Property in
November 2005. The total Inferred Mineral Resource as estimated by RPA to
NI-43-101 standards, is 251,000 tonnes at a grade of 3.80 g TPM/t (1.56 g/t
Pd, 1.62 g/t Pt, and 0.61 g/t Au), 1.00% copper (Cu), and 0.10% nickel (Ni).
(For details see Press Release dated November 29, 2005).
An estimate of the mineral resource on the Parkin Offset property to
NI 43-101 standards prepared in 2002 for Wallbridge by Alar Soever, P.Geo. of
Watts, Griffis and McOuat, Consulting Geologists and Engineers ("WGM")
reported Indicated Resources of 264,000 tonnes at a grade of 0.70% Cu,
0.65% Ni, 0.62 g Pt/t, 0.80 g Pd/t and 0.23 g Au/t and Inferred Resources of
87,000 tonnes at a grade of 0.65% Cu, 0.42% Ni, 1.17 g Pt/t, 1.07 g Pd/t and
0.55 g Au/t.
"We are very pleased to have reached this agreement with Xstrata, which
benefits both companies" stated Alar Soever, President of Wallbridge.
"Securing the resources at Broken Hammer and Parkin allows us to explore a
variety of scenarios for advancing these two properties. In return, Xstrata
gets the increased exposure to the excellent exploration potential on both the
Frost Lake and Wisner properties that it desired. The fact that we were able
to conclude these agreements, over the period which saw Xstrata take over
Falconbridge, is a testament to the Falconbridge/Xstrata team. We welcome
Xstrata to Sudbury and look forward to working with them to advance these
properties."
Xstrata retains a right to buy back to a 60% interest at the feasibility
stage in any deposit which contains in excess of US$750 million of contained
metal by incurring 200% of Wallbridge's total expenditures made after
January 1, 2005 . The following metal prices in US$ will be used to determine
the contained metal value of the Reserve and Resources:
Nickel $4.50 per pound
Copper $1.00 per pound
Cobalt $15.00 per pound
Platinum $700.00 per ounce
Palladium $200.00 per ounce
Gold $400.00 per ounce
Xstrata also has a one-time option to reacquire a 50% interest in the
Broken Hammer and Parkin Properties if Commercial Production from the
properties is not achieved within five years by funding work on the Property
until it incurs 200% of Wallbridge's total Expenditures incurred after
January 1, 2005. This provision is subject to Wallbridge being able to acquire
the necessary permits to achieve Commercial Production, provided it is
pursuing such permits diligently.
Xstrata also retains the right to process nickel ores from the properties
at fair rates that take into account the cost structure and efficiencies of
the designated facilities. For ores in which less than 33% of the contained
metal value is contributed by nickel Wallbridge shall have the right to seek
competitive bids for the processing of the ore, or to investigate the
feasibility of partially or entirely processing the material itself. Xstrata
retains the right of first refusal to process non-nickel ores by matching the
terms available to Wallbridge.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; CHF Investor Relations, Mara Strazdins,
B.Sc.Geo., Vice President, Tel: (416) 868-1079 ext. 222, Email:
mara@chfir.com
Attention Business Editors:
Wallbridge Special Warrants Convert to Duluth Metals Limited Shares Following Duluth's Successful IPO
TORONTO, Oct. 10 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today advised its shareholders that any Special Warrants which they held
will now automatically convert to freely trading shares of Duluth Metals
Limited ("DM") (TSXM) with the successful completion of DM's Initial Public
Offering ("IPO"). No action is required on the part of shareholders, as the
conversion is automatically triggered by the completion of the IPO.
"We congratulate the DM team on their successful IPO," stated Alar
Soever, President of Wallbridge. "Their successful IPO in a difficult market
environment demonstrates the merits of the DM project and has built tremendous
value both in Wallbridge and for Wallbridge shareholders. We are pleased to
see our strategy of spinning out our property interests in Minnesota into this
vehicle has achieved success. We look forward to seeing this asset grow as
Duluth Metals advances work on its Minnesota properties."
Wallbridge holds 10 million of the 45,182,483 million issued and
outstanding shares of DM. Wallbridge shareholders hold another 11.8 million
shares through the conversion of their Special Warrants.
DM successfully completed its listing and IPO and a Concurrent Private
Placement, raising an aggregate of $11,493,482 and will today begin trading on
the Toronto Stock Exchange under the symbol DM.
Proceeds from the IPO and Concurrent Private Placement will be used
primarily to fund a two phase exploration program on the Duluth's Maturi
Extension Property which hosts an extensive zone of copper-nickel-PGE
mineralization within the Duluth Complex.
Drilling to date on the property has intersected this mineralization in
widely spaced drill holes over a strike length of approximately 2.4 miles. A
total of approximately 100,000 feet drilling is planned using up to four
drills. Drilling is scheduled to start in October.
The objectives of the drilling are to define a resource in the Western
Exploration Area and to define the limits of the mineralization in the Eastern
Exploration Area which hosts some of the better grade intersections on the
property and has largely not been drill tested.
The IPO consists of 12,949,250 units (the "Units"), each Unit consisting
of one common share and one-half of one Class A share purchase warrant (the
"Class A Warrants"), with each whole warrant (a "Warrant") exercisable into
one common share. The Units have been issued pursuant to a prospectus dated
September 13, 2006 (the "Prospectus") at a price of $0.80 each for total
proceeds of $10,359,400. The Class A Warrants are exercisable at a price of
$1.10 per Warrant at any time on or before September 30, 2008. D&D Securities
Company and Union Securities Ltd. acted as co-agents on the IPO.
Concurrent with completion of its IPO, a private placement (the
"Concurrent Private Placement") was completed consisting of 1,417,603
additional Units at a price of $0.80 each for total proceeds of $1,134,082.40.
The Common Shares and Class A Warrants issued pursuant to the Concurrent
Private Placement are subject to a four month plus one day hold period.
Northland Securities, Inc. acted as agent on the Concurrent Private Placement.
The combined total raised by Duluth Metals Limited in the IPO and the
Concurrent Private Placement is $11,493,482.40.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
For Further Information
Please visit the Company's website at www.wallbridgemining.com:
About Duluth Metals
Duluth Metals Limited was founded to acquire, explore and develop copper,
nickel and platinum group element (PGE) deposits in North America. Duluth's
principal property is the Maturi Extension Property located within the rapidly
emerging Duluth mining camp in north-eastern Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Contact information: Wallbridge Mining Company
Limited: Alar Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; CHF Investor Relations: Mara Strazdins,
B.Sc.Geo., Vice President, Tel: (416) 868-1079 ext. 222, Email:
mara@chfir.com
Wallbridge Special Warrants Convert to Duluth Metals Limited Shares Following Duluth's Successful IPO
TORONTO, Oct. 10 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today advised its shareholders that any Special Warrants which they held
will now automatically convert to freely trading shares of Duluth Metals
Limited ("DM") (TSXM) with the successful completion of DM's Initial Public
Offering ("IPO"). No action is required on the part of shareholders, as the
conversion is automatically triggered by the completion of the IPO.
"We congratulate the DM team on their successful IPO," stated Alar
Soever, President of Wallbridge. "Their successful IPO in a difficult market
environment demonstrates the merits of the DM project and has built tremendous
value both in Wallbridge and for Wallbridge shareholders. We are pleased to
see our strategy of spinning out our property interests in Minnesota into this
vehicle has achieved success. We look forward to seeing this asset grow as
Duluth Metals advances work on its Minnesota properties."
Wallbridge holds 10 million of the 45,182,483 million issued and
outstanding shares of DM. Wallbridge shareholders hold another 11.8 million
shares through the conversion of their Special Warrants.
DM successfully completed its listing and IPO and a Concurrent Private
Placement, raising an aggregate of $11,493,482 and will today begin trading on
the Toronto Stock Exchange under the symbol DM.
Proceeds from the IPO and Concurrent Private Placement will be used
primarily to fund a two phase exploration program on the Duluth's Maturi
Extension Property which hosts an extensive zone of copper-nickel-PGE
mineralization within the Duluth Complex.
Drilling to date on the property has intersected this mineralization in
widely spaced drill holes over a strike length of approximately 2.4 miles. A
total of approximately 100,000 feet drilling is planned using up to four
drills. Drilling is scheduled to start in October.
The objectives of the drilling are to define a resource in the Western
Exploration Area and to define the limits of the mineralization in the Eastern
Exploration Area which hosts some of the better grade intersections on the
property and has largely not been drill tested.
The IPO consists of 12,949,250 units (the "Units"), each Unit consisting
of one common share and one-half of one Class A share purchase warrant (the
"Class A Warrants"), with each whole warrant (a "Warrant") exercisable into
one common share. The Units have been issued pursuant to a prospectus dated
September 13, 2006 (the "Prospectus") at a price of $0.80 each for total
proceeds of $10,359,400. The Class A Warrants are exercisable at a price of
$1.10 per Warrant at any time on or before September 30, 2008. D&D Securities
Company and Union Securities Ltd. acted as co-agents on the IPO.
Concurrent with completion of its IPO, a private placement (the
"Concurrent Private Placement") was completed consisting of 1,417,603
additional Units at a price of $0.80 each for total proceeds of $1,134,082.40.
The Common Shares and Class A Warrants issued pursuant to the Concurrent
Private Placement are subject to a four month plus one day hold period.
Northland Securities, Inc. acted as agent on the Concurrent Private Placement.
The combined total raised by Duluth Metals Limited in the IPO and the
Concurrent Private Placement is $11,493,482.40.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
For Further Information
Please visit the Company's website at www.wallbridgemining.com:
About Duluth Metals
Duluth Metals Limited was founded to acquire, explore and develop copper,
nickel and platinum group element (PGE) deposits in North America. Duluth's
principal property is the Maturi Extension Property located within the rapidly
emerging Duluth mining camp in north-eastern Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Contact information: Wallbridge Mining Company
Limited: Alar Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; CHF Investor Relations: Mara Strazdins,
B.Sc.Geo., Vice President, Tel: (416) 868-1079 ext. 222, Email:
mara@chfir.com
Attention Business Editors:
Duluth Metals Limited begins trading following completion of Initial Public Offering
TORONTO, Oct. 10 /CNW/ - Duluth Metals Limited (TSX: DM) is pleased to
announce today that its common shares will begin trading today on the Toronto
Stock Exchange under the symbol "DM" after the successful completion of its
Initial Public Offering ("IPO") and concurrent Private Placement, which
together raised gross proceeds of $11,493,482.
Proceeds from the IPO and Concurrent Private Placement will be used
primarily to fund a two-phase exploration program on Duluth's Maturi Extension
Property, covering 2,648 acres (more than 10 square km) of mineral properties,
which hosts an extensive zone of copper-nickel-PGM (platinum group metals)
mineralization within the Duluth Complex in northeastern Minnesota.
Christopher Dundas, Chairman and CFO, stated, "We are extremely pleased
to have concluded such a substantial financial raise in challenging market
conditions and we believe this confirms the exciting opportunity we have in
participating in the Duluth Camp."
Drilling to date on the property has intersected this mineralization in
widely spaced drill holes over a strike length of approximately 4 km
(2.4 miles). Approximately 35 holes totalling 30,000 metres (100,000 feet) of
diamond drilling is planned using up to four drills. Drilling is scheduled to
start this month.
The Maturi Extension Property has been divided into a Western Area and an
Eastern Exploration Area. The objectives of the programs are to concentrate
drilling in the Western Area in order to pursue a qualified resource and to
define the limits of the mineralization in the Eastern Exploration Area, which
hosts some of the better grade intersections in the Complex and is open to the
east, north and south.
Henry Sandri, President and CEO stated, "Duluth Metals is looking forward
to its participation as a major player in the emerging Duluth Complex. In our
view, the Duluth Complex is the next major nickel-copper-PGM sulphide camp to
be developed."
The IPO consisted of 12,949,250 units (the "Units"), each Unit consisting
of one common share and one-half of one Class A share purchase warrant (the
"Class A Warrants"), with each whole warrant (a "Warrant") exercisable into
one common share. The Units have been issued pursuant to a prospectus dated
September 13, 2006, (the "Prospectus") at a price of $0.80 each for total
proceeds of $10,359,400. The Class A Warrants are exercisable at a price of
$1.10 per Warrant at any time on or before September 30, 2008. D&D Securities
Company and Union Securities Ltd. acted as co-agents on the IPO.
Concurrent with completion of its IPO, a U.S. Private Placement (the
"Concurrent Private Placement") was completed consisting of
1,417,603 additional Units at a price of $0.80 Cdn each for total proceeds of
$1,134,082.40 Cdn. The Common Shares and Class A Warrants issued pursuant to
the Concurrent Private Placement are subject to a four month plus one day hold
period. Northland Securities, Inc. acted as agent on the Concurrent Private
Placement.
About Duluth Metals
Duluth Metals Limited was founded to acquire, explore and develop copper,
nickel and platinum group metal (PGM) deposits in North America. Duluth's
principal property is the Maturi Extension Property located within the rapidly
emerging Duluth Complex mining camp in northeastern Minnesota. The Duluth
Complex hosts one of the world's largest undeveloped repositories of copper,
nickel and PGMs, including the world's third largest accumulation of nickel
sulphides, and one of the world's largest accumulations of polymetallic copper
and platinum group metals.
This document may contain forward-looking statements relating to Duluth's
operations or to the environment in which it operates. Such statements are
based on operations, estimates, forecasts and projections. They are not
guarantees of future performance and involve risks and uncertainties that are
difficult to predict and may be beyond Duluth's control. A number of important
factors could cause actual outcomes and results to differ materially from
those expressed in forward-looking statements, including those set forth in
other public filings. In addition, such statements relate to the date on which
they are made. Consequently, undue reliance should not be placed on such
forward-looking statements. Duluth disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, save and except as may be required by
applicable securities laws.
%SEDAR: 00010252E
For further information: Mara Strazdins at (416) 710-0646; Henry Sandri,
President and CEO, Duluth Metals Limited at hsandri@duluthmetals.com
Duluth Metals Limited begins trading following completion of Initial Public Offering
TORONTO, Oct. 10 /CNW/ - Duluth Metals Limited (TSX: DM) is pleased to
announce today that its common shares will begin trading today on the Toronto
Stock Exchange under the symbol "DM" after the successful completion of its
Initial Public Offering ("IPO") and concurrent Private Placement, which
together raised gross proceeds of $11,493,482.
Proceeds from the IPO and Concurrent Private Placement will be used
primarily to fund a two-phase exploration program on Duluth's Maturi Extension
Property, covering 2,648 acres (more than 10 square km) of mineral properties,
which hosts an extensive zone of copper-nickel-PGM (platinum group metals)
mineralization within the Duluth Complex in northeastern Minnesota.
Christopher Dundas, Chairman and CFO, stated, "We are extremely pleased
to have concluded such a substantial financial raise in challenging market
conditions and we believe this confirms the exciting opportunity we have in
participating in the Duluth Camp."
Drilling to date on the property has intersected this mineralization in
widely spaced drill holes over a strike length of approximately 4 km
(2.4 miles). Approximately 35 holes totalling 30,000 metres (100,000 feet) of
diamond drilling is planned using up to four drills. Drilling is scheduled to
start this month.
The Maturi Extension Property has been divided into a Western Area and an
Eastern Exploration Area. The objectives of the programs are to concentrate
drilling in the Western Area in order to pursue a qualified resource and to
define the limits of the mineralization in the Eastern Exploration Area, which
hosts some of the better grade intersections in the Complex and is open to the
east, north and south.
Henry Sandri, President and CEO stated, "Duluth Metals is looking forward
to its participation as a major player in the emerging Duluth Complex. In our
view, the Duluth Complex is the next major nickel-copper-PGM sulphide camp to
be developed."
The IPO consisted of 12,949,250 units (the "Units"), each Unit consisting
of one common share and one-half of one Class A share purchase warrant (the
"Class A Warrants"), with each whole warrant (a "Warrant") exercisable into
one common share. The Units have been issued pursuant to a prospectus dated
September 13, 2006, (the "Prospectus") at a price of $0.80 each for total
proceeds of $10,359,400. The Class A Warrants are exercisable at a price of
$1.10 per Warrant at any time on or before September 30, 2008. D&D Securities
Company and Union Securities Ltd. acted as co-agents on the IPO.
Concurrent with completion of its IPO, a U.S. Private Placement (the
"Concurrent Private Placement") was completed consisting of
1,417,603 additional Units at a price of $0.80 Cdn each for total proceeds of
$1,134,082.40 Cdn. The Common Shares and Class A Warrants issued pursuant to
the Concurrent Private Placement are subject to a four month plus one day hold
period. Northland Securities, Inc. acted as agent on the Concurrent Private
Placement.
About Duluth Metals
Duluth Metals Limited was founded to acquire, explore and develop copper,
nickel and platinum group metal (PGM) deposits in North America. Duluth's
principal property is the Maturi Extension Property located within the rapidly
emerging Duluth Complex mining camp in northeastern Minnesota. The Duluth
Complex hosts one of the world's largest undeveloped repositories of copper,
nickel and PGMs, including the world's third largest accumulation of nickel
sulphides, and one of the world's largest accumulations of polymetallic copper
and platinum group metals.
This document may contain forward-looking statements relating to Duluth's
operations or to the environment in which it operates. Such statements are
based on operations, estimates, forecasts and projections. They are not
guarantees of future performance and involve risks and uncertainties that are
difficult to predict and may be beyond Duluth's control. A number of important
factors could cause actual outcomes and results to differ materially from
those expressed in forward-looking statements, including those set forth in
other public filings. In addition, such statements relate to the date on which
they are made. Consequently, undue reliance should not be placed on such
forward-looking statements. Duluth disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, save and except as may be required by
applicable securities laws.
%SEDAR: 00010252E
For further information: Mara Strazdins at (416) 710-0646; Henry Sandri,
President and CEO, Duluth Metals Limited at hsandri@duluthmetals.com
Attention Business Editors:
Wallbridge Reports Excellent New Metallurgical Results for Wholly-Owned Broken Hammer Resource
TORONTO, Oct. 12 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced that it has received positive metallurgical results from
the second round of test work carried out on the Broken Hammer deposit in
Sudbury. Metallurgical test work carried out at SGS Minerals Services
(Lakefield) on a 175 kilogram composite of Broken Hammer mineralization showed
excellent recoveries of copper (Cu), platinum (Pt), palladium (Pd) and gold
(Au). The work program demonstrated the amenability of Broken Hammer
mineralization to a simple gravity/flotation circuit. Total metal recoveries
are predicted at 91.8% of the copper, 89.4% of the platinum, 77.8% of the
palladium, and 83.7% of the gold.
Commenting on these latest results Alar Soever, President of Wallbridge
stated, "The metallurgical test work demonstrates that this mineralization
will be relatively easy to process and will produce good quality concentrates.
With our recent acquisition of the Xstrata interest in this resource, we can
now aggressively examine a variety of options for processing this material,
and do the required work to complete a scoping study.
A very saleable gravity concentrate was produced, with a grade of over
3700 g/t PGM (Pt+Pd+Au), containing 67% of the total platinum. At this grade
the gravity concentrate could be sold directly to a precious metal refiner.
A further 22% platinum recovery occurs to the flotation concentrate,
which also contains 21.6% copper and 1.35% nickel. This would be an ideal feed
for one of the South African PGM smelters currently treating high chromite UG2
ores, as it is reasonably rich in sulphide minerals and PGMs, but low in
chromite.
Results of the metallurgical test work are summarized below.
-------------------------------------------------------------------------
Assay
----------------------------------------
Product Weight Cu Ni S Pt Pd Au
% % % % g/t g/t g/t
-------------------------------------------------------------------------
Gravity Concentrate 5.10 10.5 2.83 14.4 2958 288 495
Flotation Concentrate 2.23 21.6 1.35 22.4 18.7 40.7 11.1
Total Concentrate
(Gravity + Floatation 2.27 21.4 1.38 22.2 74.6 45.4 20.3
Cleaner Scavenger Tails 8.99 0.25 0.12 0.25 1.08 1.11 0.25
Rougher Tails 88.74 0.02 0.054 0.01 0.12 0.22 0.08
Calculated Head 100.0 0.53 0.090 0.53 1.89 1.32 0.55
-------------------------------------------------------------------------
------------------------------------------------------------------
% Distribution
-----------------------------------------
Product
Cu Ni S Pt Pd Au
------------------------------------------------------------------
Gravity Concentrate 0.9 1.3 1.2 67.4 9.4 38.8
Flotation Concentrate 90.9 33.5 93.0 22.0 68.4 44.9
Total Concentrate
(Gravity + Floatation 91.8 34.8 94.2 89.4 77.8 83.7
Cleaner Scavenger Tails 4.2 11.6 4.2 5.1 7.6 4.0
Rougher Tails 4.1 53.6 1.6 5.4 14.7 12.3
Calculated Head 100.0 100.0 100.0 100.0 100.0 100.0
------------------------------------------------------------------
The Broken Hammer Zone is a shallow surface zone of vein and vein
stockwork-hosted copper-PGE mineralization. An initial mineral resources
estimate was completed by David Rennie, P.Geo. of Roscoe Postle Associates
Inc. (RPA) for the Broken Hammer Zone on the Wisner Property in November 2005.
The total Inferred Mineral Resource as estimated by RPA to NI-43-101 standards
is 251,000 tonnes at a grade of 3.80 g TPM/t (1.56 g/t Pd, 1.62 g/t Pt, and
0.61 g/t Au), 1.00% copper, and 0.10% nickel. (For details see Press Release
dated November 29, 2005).
Through a restructuring of its 4X Joint Venture with Xstrata Nickel,
Wallbridge recently completed acquisition of Xstrata Nickel's 36% interest in
the Broken Hammer Resource. (For details see Press Release dated October 5,
2006).
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, Ph.D. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; CHF Investor Relations, Mara Strazdins,
B.Sc.Geo, Vice President, Tel: (416) 868-1079 ext. 222, Email:
mara@chfir.com
Wallbridge Reports Excellent New Metallurgical Results for Wholly-Owned Broken Hammer Resource
TORONTO, Oct. 12 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced that it has received positive metallurgical results from
the second round of test work carried out on the Broken Hammer deposit in
Sudbury. Metallurgical test work carried out at SGS Minerals Services
(Lakefield) on a 175 kilogram composite of Broken Hammer mineralization showed
excellent recoveries of copper (Cu), platinum (Pt), palladium (Pd) and gold
(Au). The work program demonstrated the amenability of Broken Hammer
mineralization to a simple gravity/flotation circuit. Total metal recoveries
are predicted at 91.8% of the copper, 89.4% of the platinum, 77.8% of the
palladium, and 83.7% of the gold.
Commenting on these latest results Alar Soever, President of Wallbridge
stated, "The metallurgical test work demonstrates that this mineralization
will be relatively easy to process and will produce good quality concentrates.
With our recent acquisition of the Xstrata interest in this resource, we can
now aggressively examine a variety of options for processing this material,
and do the required work to complete a scoping study.
A very saleable gravity concentrate was produced, with a grade of over
3700 g/t PGM (Pt+Pd+Au), containing 67% of the total platinum. At this grade
the gravity concentrate could be sold directly to a precious metal refiner.
A further 22% platinum recovery occurs to the flotation concentrate,
which also contains 21.6% copper and 1.35% nickel. This would be an ideal feed
for one of the South African PGM smelters currently treating high chromite UG2
ores, as it is reasonably rich in sulphide minerals and PGMs, but low in
chromite.
Results of the metallurgical test work are summarized below.
-------------------------------------------------------------------------
Assay
----------------------------------------
Product Weight Cu Ni S Pt Pd Au
% % % % g/t g/t g/t
-------------------------------------------------------------------------
Gravity Concentrate 5.10 10.5 2.83 14.4 2958 288 495
Flotation Concentrate 2.23 21.6 1.35 22.4 18.7 40.7 11.1
Total Concentrate
(Gravity + Floatation 2.27 21.4 1.38 22.2 74.6 45.4 20.3
Cleaner Scavenger Tails 8.99 0.25 0.12 0.25 1.08 1.11 0.25
Rougher Tails 88.74 0.02 0.054 0.01 0.12 0.22 0.08
Calculated Head 100.0 0.53 0.090 0.53 1.89 1.32 0.55
-------------------------------------------------------------------------
------------------------------------------------------------------
% Distribution
-----------------------------------------
Product
Cu Ni S Pt Pd Au
------------------------------------------------------------------
Gravity Concentrate 0.9 1.3 1.2 67.4 9.4 38.8
Flotation Concentrate 90.9 33.5 93.0 22.0 68.4 44.9
Total Concentrate
(Gravity + Floatation 91.8 34.8 94.2 89.4 77.8 83.7
Cleaner Scavenger Tails 4.2 11.6 4.2 5.1 7.6 4.0
Rougher Tails 4.1 53.6 1.6 5.4 14.7 12.3
Calculated Head 100.0 100.0 100.0 100.0 100.0 100.0
------------------------------------------------------------------
The Broken Hammer Zone is a shallow surface zone of vein and vein
stockwork-hosted copper-PGE mineralization. An initial mineral resources
estimate was completed by David Rennie, P.Geo. of Roscoe Postle Associates
Inc. (RPA) for the Broken Hammer Zone on the Wisner Property in November 2005.
The total Inferred Mineral Resource as estimated by RPA to NI-43-101 standards
is 251,000 tonnes at a grade of 3.80 g TPM/t (1.56 g/t Pd, 1.62 g/t Pt, and
0.61 g/t Au), 1.00% copper, and 0.10% nickel. (For details see Press Release
dated November 29, 2005).
Through a restructuring of its 4X Joint Venture with Xstrata Nickel,
Wallbridge recently completed acquisition of Xstrata Nickel's 36% interest in
the Broken Hammer Resource. (For details see Press Release dated October 5,
2006).
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, Ph.D. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; CHF Investor Relations, Mara Strazdins,
B.Sc.Geo, Vice President, Tel: (416) 868-1079 ext. 222, Email:
mara@chfir.com
Attention Business Editors:
Wallbridge Announces Private Placement Financing
TORONTO, Nov. 3 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) announces that it has today completed a non-brokered private placement.
The private placement comprised the placement of 2,800,000 flow-through common
shares issued at $0.27 per share.
The funds from the flow-through private placement will be used to
accelerate the pace of exploration on its Sudbury-area properties. Drilling is
scheduled this fall for the Frost Lake, Trill, Skynner, Pele, and Crowflight
Joint Venture properties to follow-up on the results of the summer exploration
program.
Wallbridge currently has interests in 33 exploration properties covering
in excess of 610 square kilometres of footwall rocks to the Sudbury Igneous
Complex. The Company is the third largest landholder in the Sudbury camp,
after only CVRD Inco Limited and Xstrata Nickel.
Wallbridge holds a 100% interest in 19 of the properties. Nine other
properties are part of the Company's Sudbury Camp Joint Venture with Lonmin
Plc. Another five properties are held in joint venture with Xstrata Nickel.
Drilling on the Frost Lake Property will target possible extensions of
the Amy Lake PGE zone. Focus of the Trill drilling is the massive sulphide
lens discovered on the property last year. Drilling on the Pele and Crowflight
JV's will test targets generated by this past summer's field work. A total of
approximately 2800 metres of drilling is planned.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Wallbridge Announces Private Placement Financing
TORONTO, Nov. 3 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) announces that it has today completed a non-brokered private placement.
The private placement comprised the placement of 2,800,000 flow-through common
shares issued at $0.27 per share.
The funds from the flow-through private placement will be used to
accelerate the pace of exploration on its Sudbury-area properties. Drilling is
scheduled this fall for the Frost Lake, Trill, Skynner, Pele, and Crowflight
Joint Venture properties to follow-up on the results of the summer exploration
program.
Wallbridge currently has interests in 33 exploration properties covering
in excess of 610 square kilometres of footwall rocks to the Sudbury Igneous
Complex. The Company is the third largest landholder in the Sudbury camp,
after only CVRD Inco Limited and Xstrata Nickel.
Wallbridge holds a 100% interest in 19 of the properties. Nine other
properties are part of the Company's Sudbury Camp Joint Venture with Lonmin
Plc. Another five properties are held in joint venture with Xstrata Nickel.
Drilling on the Frost Lake Property will target possible extensions of
the Amy Lake PGE zone. Focus of the Trill drilling is the massive sulphide
lens discovered on the property last year. Drilling on the Pele and Crowflight
JV's will test targets generated by this past summer's field work. A total of
approximately 2800 metres of drilling is planned.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Attention Business Editors:
Wallbridge Mining Reports New Trill Assays; Announces Resource Drilling
TORONTO, Nov. 7 /CNW/ - Wallbridge Mining Company Limited (TSX: WM,
FWB: WC7) today announced that it has received results of channel sampling on
its Trill Offset Dyke sulphide lens. The results extend the surface strike
length of the lens to 66 metres. A program of resource drilling is being
initiated with the goal of defining a shallow, open-pittable resource and is
expected to begin before the end of November 2006.
Commenting on these latest results Alar Soever, President of Wallbridge
stated, "These assays demonstrate the high PGE grade of the zone. Given these
high grades and the fact that the mineralization occurs at surface, we will be
proceeding immediately to define a shallow open-pittable resource."
Results of the latest channel sampling are summarized in the table below,
and includes previously reported (August 9, 2005) assays for channel samples
A, B and C. The locations of channel samples and projected borehole pierce
points of holes planned for the resource drilling program are posted on
Wallbridge Mining Company Limited's website.
The resource definition program initially will consist of 11 holes for an
aggregate of approximately 600 metres of NQ drilling and test the sulphide
lens to a planned depth of approximately 50 metres. Assays reported from
Channel G are from a separate sulphide lens of as yet undefined strike length,
located on the dyke 62 metres east of Channel F.
-------------------------------------------------------------------------
Channel Length TPM Nickel Copper Plat- Pall- Gold Comment
(metres) (Pt+Pd (%) (%) inum adium (g/t)
+Au) (g/t) (g/t)
(g/t)
-------------------------------------------------------------------------
Channel A 3.45 9.41 1.46 0.94 2.12 6.59 0.70 2005 Results
-------------------------------------------------------------------------
Channel B 3.00 8.03 1.47 1.36 2.29 5.21 0.53 2005 Results
13.0m east
of A
-------------------------------------------------------------------------
Channel C 3.47 5.35 1.48 0.70 1.64 3.47 0.24 2005 Results
8.2m east
of B
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Channel D 2.42 5.44 0.55 0.65 1.52 3.57 0.35 15.8m east
of C
-------------------------------------------------------------------------
Channel E 1.45 4.65 0.81 0.92 1.43 2.91 0.31 7.0m east
of D
-------------------------------------------------------------------------
Channel F 3.25 9.97 0.42 1.17 1.69 8.01 0.27 12.0m east
of E
-------------------------------------------------------------------------
Channel G 6.00 4.24 0.23 1.12 1.26 2.61 0.37 62.2m east
of Main Zone
-------------------------------------------------------------------------
Channel H 2.43 6.68 0.11 0.66 2.27 3.73 0.68 11.2m west
of A
-------------------------------------------------------------------------
The Trill sulphide lens is located on the Trill Property, which is part
of the Sudbury Camp Joint Venture with Lonmin Plc. By agreement with Lonmin
initial resource definition drilling on the Trill sulphide lens will be funded
entirely by Wallbridge. Lonmin's decision to participate in future development
of this mineralized zone will depend on the size of the resource that is
defined.
Channel samples were prepared at ALS Chemex Ltd. Laboratories in Sudbury
and then shipped to their analytical facilities in Vancouver. Samples were
analyzed for Au, Pt and Pd using a standard fire assay with an ICPAES finish;
Cu and Ni were analyzed using a four acid (near total) digestion and an AAS
finish.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Wallbridge Mining Reports New Trill Assays; Announces Resource Drilling
TORONTO, Nov. 7 /CNW/ - Wallbridge Mining Company Limited (TSX: WM,
FWB: WC7) today announced that it has received results of channel sampling on
its Trill Offset Dyke sulphide lens. The results extend the surface strike
length of the lens to 66 metres. A program of resource drilling is being
initiated with the goal of defining a shallow, open-pittable resource and is
expected to begin before the end of November 2006.
Commenting on these latest results Alar Soever, President of Wallbridge
stated, "These assays demonstrate the high PGE grade of the zone. Given these
high grades and the fact that the mineralization occurs at surface, we will be
proceeding immediately to define a shallow open-pittable resource."
Results of the latest channel sampling are summarized in the table below,
and includes previously reported (August 9, 2005) assays for channel samples
A, B and C. The locations of channel samples and projected borehole pierce
points of holes planned for the resource drilling program are posted on
Wallbridge Mining Company Limited's website.
The resource definition program initially will consist of 11 holes for an
aggregate of approximately 600 metres of NQ drilling and test the sulphide
lens to a planned depth of approximately 50 metres. Assays reported from
Channel G are from a separate sulphide lens of as yet undefined strike length,
located on the dyke 62 metres east of Channel F.
-------------------------------------------------------------------------
Channel Length TPM Nickel Copper Plat- Pall- Gold Comment
(metres) (Pt+Pd (%) (%) inum adium (g/t)
+Au) (g/t) (g/t)
(g/t)
-------------------------------------------------------------------------
Channel A 3.45 9.41 1.46 0.94 2.12 6.59 0.70 2005 Results
-------------------------------------------------------------------------
Channel B 3.00 8.03 1.47 1.36 2.29 5.21 0.53 2005 Results
13.0m east
of A
-------------------------------------------------------------------------
Channel C 3.47 5.35 1.48 0.70 1.64 3.47 0.24 2005 Results
8.2m east
of B
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Channel D 2.42 5.44 0.55 0.65 1.52 3.57 0.35 15.8m east
of C
-------------------------------------------------------------------------
Channel E 1.45 4.65 0.81 0.92 1.43 2.91 0.31 7.0m east
of D
-------------------------------------------------------------------------
Channel F 3.25 9.97 0.42 1.17 1.69 8.01 0.27 12.0m east
of E
-------------------------------------------------------------------------
Channel G 6.00 4.24 0.23 1.12 1.26 2.61 0.37 62.2m east
of Main Zone
-------------------------------------------------------------------------
Channel H 2.43 6.68 0.11 0.66 2.27 3.73 0.68 11.2m west
of A
-------------------------------------------------------------------------
The Trill sulphide lens is located on the Trill Property, which is part
of the Sudbury Camp Joint Venture with Lonmin Plc. By agreement with Lonmin
initial resource definition drilling on the Trill sulphide lens will be funded
entirely by Wallbridge. Lonmin's decision to participate in future development
of this mineralized zone will depend on the size of the resource that is
defined.
Channel samples were prepared at ALS Chemex Ltd. Laboratories in Sudbury
and then shipped to their analytical facilities in Vancouver. Samples were
analyzed for Au, Pt and Pd using a standard fire assay with an ICPAES finish;
Cu and Ni were analyzed using a four acid (near total) digestion and an AAS
finish.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Attention Business Editors:
Wallbridge Mining Appoints Ms. Mara Strazdins, VP Investor Relations
TORONTO, Nov. 9 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced that it has appointed Ms. Mara Strazdins, VP Investor
Relations. The appointment of Ms. Strazdins is a key component in Management's
effort to raise Wallbridge's profile with current and potential investors.
Commenting on the appointment of Ms. Strazdins, Alar Soever, President of
Wallbridge stated, "We realize that one area where we need to improve is in
getting value for our shareholders in terms of share price. Our exploration
efforts in Sudbury are achieving success, but this is not being reflected in
our share price. Taking into account the value of our major share holding in
Duluth Metals Limited, the valuation we get for our large land position in
Sudbury, which includes both the Broken Hammer resource and the Trill Offset
discovery, our share price is extremely low relative to the potential. We look
forward to getting our story out and working with Ms. Strazdins to achieve
this goal."
Prior to joining Wallbridge Ms. Strazdins worked as a geologist with Dome
Mines and subsequently Placer Dome for 18 years obtaining a varied range of
experience within their North American corporate structure. Prior to Placer
Dome, Ms. Strazdins worked for Cominco, Gulf Minerals and the Ministry of
Natural Resources. With a diversified background in geology, exploration and
public relations, Ms. Strazdins will be focusing on raising the Company's
visibility within the investment community.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
For Further Information
Please visit the Company's website at www.wallbridgemining.com.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Wallbridge Mining Company Limited - Alar Soever,
President, Tel: (705) 682-9297, Email: asoever@wallbridgemining.com; Mara
Strazdins, Vice-President, Investor Relations, Tel: (416) 710-0646, Email:
mstrazdins@wallbridgemining.com
Wallbridge Mining Appoints Ms. Mara Strazdins, VP Investor Relations
TORONTO, Nov. 9 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced that it has appointed Ms. Mara Strazdins, VP Investor
Relations. The appointment of Ms. Strazdins is a key component in Management's
effort to raise Wallbridge's profile with current and potential investors.
Commenting on the appointment of Ms. Strazdins, Alar Soever, President of
Wallbridge stated, "We realize that one area where we need to improve is in
getting value for our shareholders in terms of share price. Our exploration
efforts in Sudbury are achieving success, but this is not being reflected in
our share price. Taking into account the value of our major share holding in
Duluth Metals Limited, the valuation we get for our large land position in
Sudbury, which includes both the Broken Hammer resource and the Trill Offset
discovery, our share price is extremely low relative to the potential. We look
forward to getting our story out and working with Ms. Strazdins to achieve
this goal."
Prior to joining Wallbridge Ms. Strazdins worked as a geologist with Dome
Mines and subsequently Placer Dome for 18 years obtaining a varied range of
experience within their North American corporate structure. Prior to Placer
Dome, Ms. Strazdins worked for Cominco, Gulf Minerals and the Ministry of
Natural Resources. With a diversified background in geology, exploration and
public relations, Ms. Strazdins will be focusing on raising the Company's
visibility within the investment community.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
For Further Information
Please visit the Company's website at www.wallbridgemining.com.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Wallbridge Mining Company Limited - Alar Soever,
President, Tel: (705) 682-9297, Email: asoever@wallbridgemining.com; Mara
Strazdins, Vice-President, Investor Relations, Tel: (416) 710-0646, Email:
mstrazdins@wallbridgemining.com
Attention Business Editors:
Wallbridge Mining Finds Second Offset Dyke on North Range Property
TORONTO, Nov. 23 /CNW/ - Wallbridge Mining Company Limited (TSX: WM,
FWB: WC7) today announced that work on its Pele Mountain Resources
(TSX VENTURE: GEM) joint venture property has resulted in the discovery of a
second offset dyke and extended the offset dyke found last year 3.5 kilometres
northward to the northern boundary of the property.
The new offset dyke was discovered in the southeast corner of the
property in a road outcrop approximately 1 kilometre west of last year's
discovery. The discovery has been confirmed by whole rock and trace element
analysis and petrographic study of outcrop samples. The new dyke has been
exposed by trenching over a distance of about 60 metres and ranges in width
between 4 and 6 metres. Trench mapping indicates the dyke is open along strike
to the north and south.
Sulphide boulders discovered last year are located approximately
50 metres to the southeast of the new dyke but it is not known if the two are
related. Geochemical analysis of samples of the sulphide boulders is underway
to determine if they have a genetic link to the new dyke or other
Sudbury-related mineralization.
Prospecting and mapping are underway to extend the new dyke along strike
to the north and south, and define exploration targets along it.
A detailed mapping program in August and September extended the main Pele
offset dyke an additional 3.5 kilometres to the north. Where exposed the dyke
retains its width of 10 to 30 metres. Work is ongoing to develop drill targets
on this structure.
Elsewhere on this large property work has defined a previously
undocumented, major breccia belt. The breccia belt is oriented roughly
concentrically to the contact of the Sudbury Igneous Complex ("SIC") and
consists of broken fragments of host rock gneisses in a very fine-grained,
strongly foliated rock flour matrix. Selected samples of the breccia contain
weakly anomalous concentrations of Pt and Pd (PGE), and pathfinder elements,
which are enriched in similar breccias that host Cu-PGE mineralization at
Xstrata's Strathcona Mine and FNX's McCreedy West Mine in the Levack Trough
about 8 kilometres to the south.
Commenting on these latest results Alar Soever, President of Wallbridge
stated, "The discovery of a second offset dyke so early in the program
validates our North Range exploration strategy which is founded on the belief
that the footwall rocks are very poorly explored and a great deal of Sudbury
geology and mineralization remains to be discovered. It demonstrates the
strong exploration potential of the Pele Property and the other North Range
Property we acquired last year. The offset dyke environment can be highly
mineralized as demonstrated by CVRD/Inco's extensive operations along the
Copper Cliff Offset and the potential reopening of the Totten Mine on the
Worthington Offset."
Field samples were prepared at ALS Chemex Ltd. Laboratories in Sudbury
and then shipped to their analytical facilities in Vancouver. Samples were
analyzed for major elements by lithium metaborate fusion with an ICP-AES
finish and rare earth elements by ICP-MS.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Wallbridge Mining Finds Second Offset Dyke on North Range Property
TORONTO, Nov. 23 /CNW/ - Wallbridge Mining Company Limited (TSX: WM,
FWB: WC7) today announced that work on its Pele Mountain Resources
(TSX VENTURE: GEM) joint venture property has resulted in the discovery of a
second offset dyke and extended the offset dyke found last year 3.5 kilometres
northward to the northern boundary of the property.
The new offset dyke was discovered in the southeast corner of the
property in a road outcrop approximately 1 kilometre west of last year's
discovery. The discovery has been confirmed by whole rock and trace element
analysis and petrographic study of outcrop samples. The new dyke has been
exposed by trenching over a distance of about 60 metres and ranges in width
between 4 and 6 metres. Trench mapping indicates the dyke is open along strike
to the north and south.
Sulphide boulders discovered last year are located approximately
50 metres to the southeast of the new dyke but it is not known if the two are
related. Geochemical analysis of samples of the sulphide boulders is underway
to determine if they have a genetic link to the new dyke or other
Sudbury-related mineralization.
Prospecting and mapping are underway to extend the new dyke along strike
to the north and south, and define exploration targets along it.
A detailed mapping program in August and September extended the main Pele
offset dyke an additional 3.5 kilometres to the north. Where exposed the dyke
retains its width of 10 to 30 metres. Work is ongoing to develop drill targets
on this structure.
Elsewhere on this large property work has defined a previously
undocumented, major breccia belt. The breccia belt is oriented roughly
concentrically to the contact of the Sudbury Igneous Complex ("SIC") and
consists of broken fragments of host rock gneisses in a very fine-grained,
strongly foliated rock flour matrix. Selected samples of the breccia contain
weakly anomalous concentrations of Pt and Pd (PGE), and pathfinder elements,
which are enriched in similar breccias that host Cu-PGE mineralization at
Xstrata's Strathcona Mine and FNX's McCreedy West Mine in the Levack Trough
about 8 kilometres to the south.
Commenting on these latest results Alar Soever, President of Wallbridge
stated, "The discovery of a second offset dyke so early in the program
validates our North Range exploration strategy which is founded on the belief
that the footwall rocks are very poorly explored and a great deal of Sudbury
geology and mineralization remains to be discovered. It demonstrates the
strong exploration potential of the Pele Property and the other North Range
Property we acquired last year. The offset dyke environment can be highly
mineralized as demonstrated by CVRD/Inco's extensive operations along the
Copper Cliff Offset and the potential reopening of the Totten Mine on the
Worthington Offset."
Field samples were prepared at ALS Chemex Ltd. Laboratories in Sudbury
and then shipped to their analytical facilities in Vancouver. Samples were
analyzed for major elements by lithium metaborate fusion with an ICP-AES
finish and rare earth elements by ICP-MS.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Antwort auf Beitrag Nr.: 21.087.643 von froschie am 05.04.06 15:37:28Attention Business Editors:
Wallbridge Mining Announces Broken Hammer Scoping Study
TORONTO, Nov. 27 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced that it has commenced a Preliminary Economic Assessment
("PEA") or Scoping Study of its Broken Hammer Platinum-Palladium-Gold Copper
project located in the North Range of the Sudbury Basin.
Alar Soever, President of Wallbridge Mining, commented on the progress at
Broken Hammer stating, "Gaining control of this resource and positive
metallurgical results are now allowing us to proceed and plan for its
potential development. We look forward to advancing this exciting project for
Wallbridge shareholders." Xstrata Nickel ("Xstrata"), formerly Falconbridge
Limited, retains a 1.5% royalty interest.
The PEA or scoping report will be prepared under National Instrument
43-101 Standards of Disclosure for Mineral Projects. Wardrop Engineering
("Wardrop") will lead the study and prepare the mining component. DRA Americas
("DRA") and AMEC will prepare the milling and waste management components
respectively. SGS Mineral Services ("SGS") has been retained to conduct
confirmatory test work following up on the recently completed gravity and
flotation tests.
The Scoping Study will include design of the open pit mine, on-site
milling facilities, waste rock and tailings management and completion of
environmental baseline studies within several proposed potential tailings
management sites. Capital and operating cost estimates will be prepared and
included in a cash flow analysis and economic evaluation. A sensitivity
analysis will be conducted using conservative metal prices as the base case.
The Broken Hammer Zone is a shallow surface zone of vein and vein
stockwork-hosted copper-PGE mineralization. An initial mineral resources
estimate for the Zone was completed by David Rennie, P.Geo. of Roscoe Postle
Associates Inc. ("RPA") in November 2005. The total Inferred Mineral Resource
as estimated by RPA to NI-43-101 standards, is 251,000 tonnes at a grade of
3.80 g TPM/t (1.56 g/t Pd, 1.62 g/t Pt, and 0.61 g/t Au), 1.00% copper, and
0.10% nickel. (For details see Press Release dated November 29, 2005).
In October 2006 Wallbridge concluded the restructuring of its 4X Joint
Venture with Xstrata thereby acquiring Xstrata's interest in the Broken Hammer
Resource (Xstrata retains a 1.5% NSR Royalty on production from the property).
Positive metallurgical results were also received from the second round of
test work, which predicted total metal recoveries at 91.9% of the copper,
89.4% of the platinum, 77.8% of the palladium, and 83.7% of the gold.
Wardrop is an internationally recognized multidisciplinary engineering
company with mining offices in Toronto, Sudbury, Saskatoon, and Vancouver. The
Broken Hammer project will be led by Eric Harkonen, P.Eng. (Mining), MBA of
Wardrop Toronto. Based on successful mining project executions in northern
Ontario, Manitoba, and Nunavut, Eric has demonstrated skills in leading
multidisciplinary teams.
DRA is an international Engineering company with offices and projects
spanning five continents. Established in 1984, DRA employs over eighty
qualified engineers across the world and provides skills in mechanical, civil
and structural engineering design; project and construction management;
process, winder, electrical and instrumentation engineering. The company also
offers services in feasibility studies, procurement of equipment and supplies,
fabrication and erection, and commissioning and training. An extensive
contract operations capability provides processing services to the mining
industry. Stephen Cole, P.Eng., President of DRA Americas, will be the lead
engineer and Qualified Person for the metallurgical component of the project.
AMEC is an international project management, engineering and consulting
company that designs, delivers and supports client assets across the public
and private sectors, from a network of offices throughout Canada, the US, the
UK and regional offices world-wide. They are recognized by the international
lending community for services to the mining industry, and have more than 50
years of experience helping world leaders in the mining industry manage
environmental and geotechnical issues. Dr. Maciej Szymanski, P.Eng. is the
principal with overall technical responsibility for AMEC's component of the
project.
The Qualified Person responsible for the technical content of this press
release is Fred Baker, P. Eng., Manager of Mining and Environment for
Wallbridge Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Investor Relations, Mara Strazdins, Tel:
(416) 710-0646, Email: mstrazdins@wallbridgemining.com
Wallbridge Mining Announces Broken Hammer Scoping Study
TORONTO, Nov. 27 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced that it has commenced a Preliminary Economic Assessment
("PEA") or Scoping Study of its Broken Hammer Platinum-Palladium-Gold Copper
project located in the North Range of the Sudbury Basin.
Alar Soever, President of Wallbridge Mining, commented on the progress at
Broken Hammer stating, "Gaining control of this resource and positive
metallurgical results are now allowing us to proceed and plan for its
potential development. We look forward to advancing this exciting project for
Wallbridge shareholders." Xstrata Nickel ("Xstrata"), formerly Falconbridge
Limited, retains a 1.5% royalty interest.
The PEA or scoping report will be prepared under National Instrument
43-101 Standards of Disclosure for Mineral Projects. Wardrop Engineering
("Wardrop") will lead the study and prepare the mining component. DRA Americas
("DRA") and AMEC will prepare the milling and waste management components
respectively. SGS Mineral Services ("SGS") has been retained to conduct
confirmatory test work following up on the recently completed gravity and
flotation tests.
The Scoping Study will include design of the open pit mine, on-site
milling facilities, waste rock and tailings management and completion of
environmental baseline studies within several proposed potential tailings
management sites. Capital and operating cost estimates will be prepared and
included in a cash flow analysis and economic evaluation. A sensitivity
analysis will be conducted using conservative metal prices as the base case.
The Broken Hammer Zone is a shallow surface zone of vein and vein
stockwork-hosted copper-PGE mineralization. An initial mineral resources
estimate for the Zone was completed by David Rennie, P.Geo. of Roscoe Postle
Associates Inc. ("RPA") in November 2005. The total Inferred Mineral Resource
as estimated by RPA to NI-43-101 standards, is 251,000 tonnes at a grade of
3.80 g TPM/t (1.56 g/t Pd, 1.62 g/t Pt, and 0.61 g/t Au), 1.00% copper, and
0.10% nickel. (For details see Press Release dated November 29, 2005).
In October 2006 Wallbridge concluded the restructuring of its 4X Joint
Venture with Xstrata thereby acquiring Xstrata's interest in the Broken Hammer
Resource (Xstrata retains a 1.5% NSR Royalty on production from the property).
Positive metallurgical results were also received from the second round of
test work, which predicted total metal recoveries at 91.9% of the copper,
89.4% of the platinum, 77.8% of the palladium, and 83.7% of the gold.
Wardrop is an internationally recognized multidisciplinary engineering
company with mining offices in Toronto, Sudbury, Saskatoon, and Vancouver. The
Broken Hammer project will be led by Eric Harkonen, P.Eng. (Mining), MBA of
Wardrop Toronto. Based on successful mining project executions in northern
Ontario, Manitoba, and Nunavut, Eric has demonstrated skills in leading
multidisciplinary teams.
DRA is an international Engineering company with offices and projects
spanning five continents. Established in 1984, DRA employs over eighty
qualified engineers across the world and provides skills in mechanical, civil
and structural engineering design; project and construction management;
process, winder, electrical and instrumentation engineering. The company also
offers services in feasibility studies, procurement of equipment and supplies,
fabrication and erection, and commissioning and training. An extensive
contract operations capability provides processing services to the mining
industry. Stephen Cole, P.Eng., President of DRA Americas, will be the lead
engineer and Qualified Person for the metallurgical component of the project.
AMEC is an international project management, engineering and consulting
company that designs, delivers and supports client assets across the public
and private sectors, from a network of offices throughout Canada, the US, the
UK and regional offices world-wide. They are recognized by the international
lending community for services to the mining industry, and have more than 50
years of experience helping world leaders in the mining industry manage
environmental and geotechnical issues. Dr. Maciej Szymanski, P.Eng. is the
principal with overall technical responsibility for AMEC's component of the
project.
The Qualified Person responsible for the technical content of this press
release is Fred Baker, P. Eng., Manager of Mining and Environment for
Wallbridge Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Investor Relations, Mara Strazdins, Tel:
(416) 710-0646, Email: mstrazdins@wallbridgemining.com
Sieht das nicht nach einer neuen Startrampe aus im Chart?
Meinungen?
Meinungen?
Attention Business Editors:
Wallbridge Announces Private Placement Financing
TORONTO, Dec. 15 /CNW/ - Wallbridge Mining Company Limited (TSX: WM)
today announced it is currently in the process of completing a non-brokered
private placement financing for the sale of up to approximately 6.0 million
flow-through common shares at $0.50 per share, and 3.0 million non-flow-
through units at $0.50 per unit aggregating $4.5 million in total private
placement financing. The financing is subject to regulatory approval. The
funds will be used to advance exploration on the Company's Sudbury area
properties and in the case of the non-flow-through units for working capital
purposes.
The non-flow-through units consist of a common share and half of one
common share purchase warrant. Each whole warrant gives the subscriber the
right to purchase a common share at $0.75 for a period of two years from
closing.
The Corporation may pay finder's fees in the event agents are used to
source subscriptions, which fees will be equal to up to 6% of the gross
proceeds of all Flow-Through Common Shares and Units sold as a result of the
efforts of such agents.
The Company is currently completing a NI-43-101 compliant initial
economic assessment (scoping study) on its Broken Hammer resource, and has
active drilling programs on its North Range project. Once these programs are
complete, drilling will be focused on mineralization which was discovered last
year on the Trill and Frost Lake properties.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Wallbridge Announces Private Placement Financing
TORONTO, Dec. 15 /CNW/ - Wallbridge Mining Company Limited (TSX: WM)
today announced it is currently in the process of completing a non-brokered
private placement financing for the sale of up to approximately 6.0 million
flow-through common shares at $0.50 per share, and 3.0 million non-flow-
through units at $0.50 per unit aggregating $4.5 million in total private
placement financing. The financing is subject to regulatory approval. The
funds will be used to advance exploration on the Company's Sudbury area
properties and in the case of the non-flow-through units for working capital
purposes.
The non-flow-through units consist of a common share and half of one
common share purchase warrant. Each whole warrant gives the subscriber the
right to purchase a common share at $0.75 for a period of two years from
closing.
The Corporation may pay finder's fees in the event agents are used to
source subscriptions, which fees will be equal to up to 6% of the gross
proceeds of all Flow-Through Common Shares and Units sold as a result of the
efforts of such agents.
The Company is currently completing a NI-43-101 compliant initial
economic assessment (scoping study) on its Broken Hammer resource, and has
active drilling programs on its North Range project. Once these programs are
complete, drilling will be focused on mineralization which was discovered last
year on the Trill and Frost Lake properties.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Attention Business Editors:
Wallbridge Mining Begins Drilling 11 North Range Targets
TORONTO, Dec. 12 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced that it has started drill testing 11 high priority
electro-magnetic anomalies on their Crowflight Joint Venture Property located
in the footwall of the North Range of the Sudbury Igneous Complex (SIC). The
drill program will consist of 11 holes for a total of about 800 metres to test
conductors identified by a regional MegaTem survey conducted in 2004.
Commenting on the drill program and exploration progress to date Alar
Soever, President of Wallbridge, stated, "The Crowflight Joint Venture gave us
access to a number of high quality conductors, which our summer work program
demonstrated to be underlain by very prospective geology. We look forward to
the results of the current drill program, which represents the first test of
these excellent exploration targets."
The Crowflight option and joint venture was signed in June 2006 (see
Wallbridge Press Release dated May 3, 2006).
Work in the summer of 2006 consisted of the rehabilitation and cutting of
84 line kilometres of grid and detailed grid mapping, rock sampling and beep
mat prospecting. The grids originally were established in 2005 to facilitate
ground geophysical and limited soil geochemical follow-up of the airborne
anomalies.
Mapping and prospecting in the summer of 2006 found numerous bedrock
sulphide occurrences related to the MegaTem anomalies and demonstrated that
the area is underlain by Archean-aged, amphibolite-grade metavolcanic and
metasedimentary rocks similar to those hosting the Geneva Lake Cu-Pb-Zn mine
located about 8 km to the west. The stratiform and stratabound nature and
close association of the sulphide mineralization with metavolcanic rocks
suggests a genetic link between the two and demonstrates the potential for
drilling to discover VMS-style mineralization.
The 2006 field program also located a number of occurrences of Sudbury
Breccia along arcuate structures concentric to the Sudbury Igneous Complex.
These arcuate structures are roughly parallel to the Hess Offset Dyke, and
similar to breccia occurrences recently reported on Wallbridge's Pele Mountain
Resources Joint Venture Property (see Press Release dated November 23, 2006)
located immediately to the south of the Crowflight Joint Venture Property.
Selected samples of the breccia contain weakly anomalous concentrations of Pt
and Pd (PGE), and certain trace elements, which are enriched in similar
breccias that host Cu-PGE mineralization in the Levack Trough about 12
kilometres to the south.
Drill core samples will be prepared at ALS Chemex Ltd. Laboratories in
Sudbury and then shipped to their analytical facilities in Vancouver.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Wallbridge Mining Begins Drilling 11 North Range Targets
TORONTO, Dec. 12 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced that it has started drill testing 11 high priority
electro-magnetic anomalies on their Crowflight Joint Venture Property located
in the footwall of the North Range of the Sudbury Igneous Complex (SIC). The
drill program will consist of 11 holes for a total of about 800 metres to test
conductors identified by a regional MegaTem survey conducted in 2004.
Commenting on the drill program and exploration progress to date Alar
Soever, President of Wallbridge, stated, "The Crowflight Joint Venture gave us
access to a number of high quality conductors, which our summer work program
demonstrated to be underlain by very prospective geology. We look forward to
the results of the current drill program, which represents the first test of
these excellent exploration targets."
The Crowflight option and joint venture was signed in June 2006 (see
Wallbridge Press Release dated May 3, 2006).
Work in the summer of 2006 consisted of the rehabilitation and cutting of
84 line kilometres of grid and detailed grid mapping, rock sampling and beep
mat prospecting. The grids originally were established in 2005 to facilitate
ground geophysical and limited soil geochemical follow-up of the airborne
anomalies.
Mapping and prospecting in the summer of 2006 found numerous bedrock
sulphide occurrences related to the MegaTem anomalies and demonstrated that
the area is underlain by Archean-aged, amphibolite-grade metavolcanic and
metasedimentary rocks similar to those hosting the Geneva Lake Cu-Pb-Zn mine
located about 8 km to the west. The stratiform and stratabound nature and
close association of the sulphide mineralization with metavolcanic rocks
suggests a genetic link between the two and demonstrates the potential for
drilling to discover VMS-style mineralization.
The 2006 field program also located a number of occurrences of Sudbury
Breccia along arcuate structures concentric to the Sudbury Igneous Complex.
These arcuate structures are roughly parallel to the Hess Offset Dyke, and
similar to breccia occurrences recently reported on Wallbridge's Pele Mountain
Resources Joint Venture Property (see Press Release dated November 23, 2006)
located immediately to the south of the Crowflight Joint Venture Property.
Selected samples of the breccia contain weakly anomalous concentrations of Pt
and Pd (PGE), and certain trace elements, which are enriched in similar
breccias that host Cu-PGE mineralization in the Levack Trough about 12
kilometres to the south.
Drill core samples will be prepared at ALS Chemex Ltd. Laboratories in
Sudbury and then shipped to their analytical facilities in Vancouver.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Attention Business Editors:
Wallbridge Mining Locates Mineralization in Hess Offset Dyke
TORONTO, Dec. 19 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) is pleased to report on the results of its 2006 exploration program on
the Hess Offset Dyke located in the North Range of the Sudbury Igneous
Complex. The dyke is being explored in joint venture with Champion Bear
Resources (TSXV: CBA) as described in a joint press release dated December 1,
2005. Wallbridge is the operator of the joint venture.
Highlights of the summer 2006 exploration program include:
- Confirmation of the lateral continuity (about 2 kilometres) and width
(50-70 metres) of the quartz diorite dyke across the entire eastern
portion of the Hess Offset JV property (Eastern Hess Offset). Offset
dykes host many economically significant nickel-copper-PGE deposits
around Sudbury.
- Discovery of three news zones of outcropping disseminated
chalcopyrite-pyrrhotite-pentlandite mineralization in inclusion
quartz diorite (IQD) associated with distinctly magnetic segments of
the dyke that have strike lengths of up to 350 metres.
- Highly anomalous Pt, Pd and Au assays associated with the
disseminated sulphide mineralization including samples with up to
2630 ppm copper, 1760 ppm nickel, 80 ppb gold, 182 ppb platinum, and
657 ppb palladium (0.919 g/t TPM).
The proposed 2007 exploration program will include:
- Titan 24 DCIP and MT geophysical surveys over a 2.4 kilometre segment
of the Eastern Hess Offset targeting the distinct magnetic anomalies
associated with disseminated pyrrhotite-pentlandite-chalcopyrite
mineralization found in 2006.
- Trenching to expose the entire width of surface showings in
preparation for channel sampling.
- Diamond drilling followed by borehole electro-magnetic and/or
borehole IP surveys.
Commenting on the exploration progress to date Alar Soever, President of
Wallbridge, stated, "We are extremely pleased with the results we have
generated with the work we carried out last summer. Finding new mineralization
on this dyke and establishing its association with the magnetic sections of
the dyke, give us excellent targets for follow-up with the deep penetrating
Titan survey and drilling."
Outcrop samples were prepared at ALS Chemex Ltd. Laboratories in Sudbury
and then shipped to their analytical facilities in Vancouver. Samples were
analyzed for Au, Pt, and Pd by standard lead collection fire assay fusion
followed by a combination of inductively coupled plasma mass spectrometry
(ICP-MS) and atomic emission spectrometry (ICP-AES). Samples were also
analyzed for 47 base metal and trace elements using a four acid (HNO3-HCIO4-HF
and HCI) near total digestion and a combination of ICP-MS and ICP-AES. Any ICP
overlimits were re-analyzed using sodium peroxide fusion acid dissolution
followed by ICP-AES.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury Basin
hosts the world's largest concentration of nickel deposits and is currently
the most active mining camp in North America. Wallbridge also has a major
shareholding in Duluth Metals Limited (TSX: DM), which has a significant
property position in the rapidly emerging Duluth Complex base metal camp in
Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Wallbridge Mining Locates Mineralization in Hess Offset Dyke
TORONTO, Dec. 19 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) is pleased to report on the results of its 2006 exploration program on
the Hess Offset Dyke located in the North Range of the Sudbury Igneous
Complex. The dyke is being explored in joint venture with Champion Bear
Resources (TSXV: CBA) as described in a joint press release dated December 1,
2005. Wallbridge is the operator of the joint venture.
Highlights of the summer 2006 exploration program include:
- Confirmation of the lateral continuity (about 2 kilometres) and width
(50-70 metres) of the quartz diorite dyke across the entire eastern
portion of the Hess Offset JV property (Eastern Hess Offset). Offset
dykes host many economically significant nickel-copper-PGE deposits
around Sudbury.
- Discovery of three news zones of outcropping disseminated
chalcopyrite-pyrrhotite-pentlandite mineralization in inclusion
quartz diorite (IQD) associated with distinctly magnetic segments of
the dyke that have strike lengths of up to 350 metres.
- Highly anomalous Pt, Pd and Au assays associated with the
disseminated sulphide mineralization including samples with up to
2630 ppm copper, 1760 ppm nickel, 80 ppb gold, 182 ppb platinum, and
657 ppb palladium (0.919 g/t TPM).
The proposed 2007 exploration program will include:
- Titan 24 DCIP and MT geophysical surveys over a 2.4 kilometre segment
of the Eastern Hess Offset targeting the distinct magnetic anomalies
associated with disseminated pyrrhotite-pentlandite-chalcopyrite
mineralization found in 2006.
- Trenching to expose the entire width of surface showings in
preparation for channel sampling.
- Diamond drilling followed by borehole electro-magnetic and/or
borehole IP surveys.
Commenting on the exploration progress to date Alar Soever, President of
Wallbridge, stated, "We are extremely pleased with the results we have
generated with the work we carried out last summer. Finding new mineralization
on this dyke and establishing its association with the magnetic sections of
the dyke, give us excellent targets for follow-up with the deep penetrating
Titan survey and drilling."
Outcrop samples were prepared at ALS Chemex Ltd. Laboratories in Sudbury
and then shipped to their analytical facilities in Vancouver. Samples were
analyzed for Au, Pt, and Pd by standard lead collection fire assay fusion
followed by a combination of inductively coupled plasma mass spectrometry
(ICP-MS) and atomic emission spectrometry (ICP-AES). Samples were also
analyzed for 47 base metal and trace elements using a four acid (HNO3-HCIO4-HF
and HCI) near total digestion and a combination of ICP-MS and ICP-AES. Any ICP
overlimits were re-analyzed using sodium peroxide fusion acid dissolution
followed by ICP-AES.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury Basin
hosts the world's largest concentration of nickel deposits and is currently
the most active mining camp in North America. Wallbridge also has a major
shareholding in Duluth Metals Limited (TSX: DM), which has a significant
property position in the rapidly emerging Duluth Complex base metal camp in
Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Attention Business Editors:
Wallbridge Completes Private Placement Financing
TORONTO, Jan. 5 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) announces that it has completed non-brokered private placements of both
flow-through common shares ("Flow-Through Shares") and non-flow-through units
("Units") each Unit comprising one common share and one-half of one share
purchase warrant. The private placements resulted in the issuance of 3,870,000
Flow-Through Shares at $0.50 per share and 1,210,000 Units at $0.50 per Unit,
each Unit comprising one common share and one-half of one common share
purchase warrant exercisable for a period of 2 years following the closing, at
$0.75 per share.
The funds from the flow-through private placement will be used to
accelerate the pace of exploration on Wallbridge's Sudbury-area properties.
Drilling on the Frost Lake Property will target possible extensions of the Amy
Lake PGE zone. The focus of the Trill Property drilling is on the massive
sulphide lens discovered on the property last year. Drilling on Pele Mountain
and Crowflight Joint Venture properties will test targets generated by this
past summer's field work. These drill programs are scheduled to start in
January and total approximately 2800 metres.
The funds from the Unit placement will be used for general working
capital purposes.
Wallbridge currently has interests in 34 exploration properties covering
in excess of 650 square kilometres of footwall rocks to the Sudbury Igneous
Complex. The Company is the third largest landholder in the Sudbury camp,
after CVRD Inco Limited and Xstrata Nickel. Wallbridge holds a 100% interest
in 14 of the properties. Seven other properties are part of the Company's
Sudbury Camp Joint Venture with Lonmin Plc. Another six properties are held in
joint venture with Xstrata Nickel.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Wallbridge Completes Private Placement Financing
TORONTO, Jan. 5 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) announces that it has completed non-brokered private placements of both
flow-through common shares ("Flow-Through Shares") and non-flow-through units
("Units") each Unit comprising one common share and one-half of one share
purchase warrant. The private placements resulted in the issuance of 3,870,000
Flow-Through Shares at $0.50 per share and 1,210,000 Units at $0.50 per Unit,
each Unit comprising one common share and one-half of one common share
purchase warrant exercisable for a period of 2 years following the closing, at
$0.75 per share.
The funds from the flow-through private placement will be used to
accelerate the pace of exploration on Wallbridge's Sudbury-area properties.
Drilling on the Frost Lake Property will target possible extensions of the Amy
Lake PGE zone. The focus of the Trill Property drilling is on the massive
sulphide lens discovered on the property last year. Drilling on Pele Mountain
and Crowflight Joint Venture properties will test targets generated by this
past summer's field work. These drill programs are scheduled to start in
January and total approximately 2800 metres.
The funds from the Unit placement will be used for general working
capital purposes.
Wallbridge currently has interests in 34 exploration properties covering
in excess of 650 square kilometres of footwall rocks to the Sudbury Igneous
Complex. The Company is the third largest landholder in the Sudbury camp,
after CVRD Inco Limited and Xstrata Nickel. Wallbridge holds a 100% interest
in 14 of the properties. Seven other properties are part of the Company's
Sudbury Camp Joint Venture with Lonmin Plc. Another six properties are held in
joint venture with Xstrata Nickel.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Attention Business Editors:
Wallbridge to Receive $897,000 Payment on Frost Lake Property
TORONTO, Jan. 25 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) today announced that it will receive a payment of $897,000 from Xstrata
Nickel. The payment is required in order for Xstrata Nickel to retain its 50%
interest in the Frost Lake Property, located in the East Range of the Sudbury
Igneous Complex ("SIC"). The property is adjacent to the new CVRD Inco/Lonmin
PGE-copper-nickel discovery announced January 23, 2007.
The Frost Lake Property is part of Wallbridge's East Range properties,
which cover an area of about 2821 hectares of footwall rocks to the SIC
between Xstrata Nickel's Nickel Rim South Mine in the south and FNX's Podolsky
project in the north. Exploration to date on the Frost Lake property has
defined an extensive zone of PGE-copper mineralization at Amy Lake, within the
same breccia belt, which hosts the new CVRD Inco/Lonmin discovery.
"Our drill results at Amy Lake and now the new discovery by CVRD Inco and
Lonmin bordering our property on the south and west provide proof of the huge
potential in the footwall rocks to the SIC in this area," stated Alar Soever,
President of Wallbridge. "Together with our joint venture partner Xstrata
Nickel, we have an aggressive program planned for 2007 on this property, which
includes at least 5000 metres of diamond drilling."
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Wallbridge to Receive $897,000 Payment on Frost Lake Property
TORONTO, Jan. 25 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) today announced that it will receive a payment of $897,000 from Xstrata
Nickel. The payment is required in order for Xstrata Nickel to retain its 50%
interest in the Frost Lake Property, located in the East Range of the Sudbury
Igneous Complex ("SIC"). The property is adjacent to the new CVRD Inco/Lonmin
PGE-copper-nickel discovery announced January 23, 2007.
The Frost Lake Property is part of Wallbridge's East Range properties,
which cover an area of about 2821 hectares of footwall rocks to the SIC
between Xstrata Nickel's Nickel Rim South Mine in the south and FNX's Podolsky
project in the north. Exploration to date on the Frost Lake property has
defined an extensive zone of PGE-copper mineralization at Amy Lake, within the
same breccia belt, which hosts the new CVRD Inco/Lonmin discovery.
"Our drill results at Amy Lake and now the new discovery by CVRD Inco and
Lonmin bordering our property on the south and west provide proof of the huge
potential in the footwall rocks to the SIC in this area," stated Alar Soever,
President of Wallbridge. "Together with our joint venture partner Xstrata
Nickel, we have an aggressive program planned for 2007 on this property, which
includes at least 5000 metres of diamond drilling."
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Attention Business Editors:
Wallbridge Updates Sudbury Exploration Progress
TORONTO, March 2 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) today reported drilling results from its Trill Property as well as
exploration progress on its other Sudbury area properties. Concurrent with the
geophysical program, 5,000 metres of drilling will be initiated this spring.
Trill Property Assay Results
----------------------------
Drill results on the Trill Property confirmed the high PGE grade of the
mineralization and extended the copper-nickel-PGE mineralization outside the
limits of the offset dyke. Significant drill intercepts from the mineralized
zone within the dyke include:
- 8.76 m of 0.59% Ni, 0.94% Cu and 6.758 g TPM/t in hole WTR-028
- 3.52 m of 0.83% Ni, 0.83% Cu and 6.815 g TPM/t in hole WTR-034
Intercepts from PGE-copper veins from outside the dyke include:
- 0.57 m of 0.45% Ni, 0.49% Cu and 7.774 g TPM/t in hole WTR-030
- 1.12 m of 0.06% Ni, 1.51% Cu and 10.143 g TPM/t in hole WTR-034
- 0.95 m of 1.45% Ni, 0.23% Cu and 3.183 g TPM/t in hole WTR-034
True width of the mineralized intercepts cannot be estimated due to the
nature of the mineralization. A complete table of mineralized intercepts is
appended to this release.
A deep penetrating Titan-24 IP/MT survey is planned to explore the dyke
and surrounding rocks, including the new breccia belt and gravity anomaly
located some 500 metres to the south of the Trill Offset Dyke mineralization.
Other Sudbury Exploration
-------------------------
The Titan-24 survey on the Trill Property is part of a major geophysical
program currently underway on Wallbridge's Sudbury properties which includes:
- A Titan-24 survey on the Frost Lake Property, northeast of the new
CVRD Inco/Lonmin Plc Capre Lake discovery. The survey will cover the
Amy Lake Zone and surrounding area, including the area of the footwall
nickel intercept announced last year (see Press Release dated
April 5, 2006);
- A UTEM survey covering the area of the footwall nickel intercept on
the Frost Property;
- A UTEM survey over the Drill Lake Property, located 1.5 kilometres to
the southeast and within the same breccia belt which hosts the CVRD
Inco/Lonmin Plc Capre Lake discovery;
- A Titan-24 survey over a 4 kilometre long belt of highly prospective
Sudbury Breccia on the Skynner Lake Property;
- An IP survey over the East Totten Lake Breccia Belt on the Trill
Property;
- A Titan-24 survey over the copper-nickel-PGE mineralization located in
the Hess Offset dyke last summer (see Press Release dated
December 19, 2006);
A total of 94.6 kilometres of Titan-24 surveying is planned. Titan-24 is
a deep penetrating IP/MT survey, which is capable of detecting sulphide
mineralization at greater depths than conventional IP surveys.
Drilling Update
---------------
On the North Range, testing of airborne conductors on the Crowflight JV
Project, intersected minor zinc mineralization at one of the 10 targets
tested. A down-hole EM survey indicated good conductive targets immediately
adjacent to the drill hole. These will be targeted by a follow-up drill
program scheduled to begin within the next two weeks.
This drilling is part of a spring/summer drilling program of up to
5,000 m, which will also test targets on the Frost Lake, Skynner, Foy, Hess,
Wisner, and Trill Properties. High priority targets include the up-plunge
projection of the CVRD Inco/Lonmin Plc Capre Lake discovery onto the Frost
Lake Property, as well as step out holes from the footwall nickel intercept on
the Frost Lake Property.
Drilling will also be carried in the Southwest Area of the Wisner
Property, to test a moderate depth Titan-24 IP anomaly which is spatially
associated with copper-nickel-PGE mineralization exposed by trenching, and
intersected in drilling last year (see Press Release dated May 30, 2006).
Drilling is also budgeted to follow up geophysical targets generated by
the winter geophysical programs described above.
The Frost Lake property is part of a 50/50 joint venture with Xstrata
Nickel. The Trill, Skynner, Lake and Foy properties are part of the Sudbury
Camp Joint Venture ("SCJV") with Lonmin Plc. ("Lonmin"). Lonmin earns a 50%
interest in any property on which a resource is established and can increase
its interest to 65% by taking that property through feasibility and funding
work through to commercial production.
Half core samples were prepared at ALS Chemex Ltd. Laboratories in
Sudbury and then shipped to their analytical facilities in Vancouver. Samples
were analyzed for Au, Pt and Pd using a standard fire assay with an ICPAES
finish; Cu and Ni were analyzed using a four acid (near total) digestion and
an AAS finish.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
Trill Property Assay Results
HOLE_ID FROM TO WIDTH Ni Cu
(m) (m) (m) % %
WTR-027 Dyke 25.78 27.89 2.11 0.12 0.46
WTR-028 Dyke 20.81 29.57 8.76 0.59 0.94
WTR-028 Vein 33.92 34.62 0.70 2.72 0.45
WTR-028 Vein 41.07 41.44 0.37 0.29 0.64
WTR-029 No assays above $120 per tonne cut-off (*)
WTR-030 Vein 10.16 10.73 0.57 0.45 0.49
WTR-030 Dyke 13.55 14.00 0.45 1.66 0.50
WTR-031 Dyke 21.58 22.27 0.69 3.33 0.61
WTR-032 No assays above $120 per tonne cut-off (*)
WTR-034 Dyke 14.48 18.00 3.52 0.83 0.83
WTR-034 Vein 21.28 22.40 1.12 0.06 1.51
WTR-034 Vein 26.80 27.75 0.95 1.45 0.23
WTR-034 Vein 31.20 31.50 0.30 2.24 2.31
WTR-035 Dyke 33.31 33.60 0.29 0.07 0.55
HOLE_ID Pt Pd Au TPM
g/t g/t g/t (g/t)
WTR-027 Dyke 2.216 3.322 0.443 5.981
WTR-028 Dyke 2.221 3.611 0.926 6.758
WTR-028 Vein 3.750 8.653 0.822 13.225
WTR-028 Vein 5.510 6.500 4.150 16.160
WTR-029 No assays above $120 per tonne cut-off (*)
WTR-030 Vein 2.200 5.240 0.334 7.774
WTR-030 Dyke 3.240 4.790 0.195 8.225
WTR-031 Dyke 1.645 4.050 0.114 5.809
WTR-032 No assays above $120 per tonne cut-off (*)
WTR-034 Dyke 2.095 4.248 0.471 6.815
WTR-034 Vein 4.380 5.390 0.373 10.143
WTR-034 Vein 1.029 2.044 0.109 3.183
WTR-034 Vein 1.360 10.050 0.130 11.540
WTR-035 Dyke 1.735 2.110 0.458 4.303
(*) Contained metal value cut-off calculated using the following prices:
$10 per lb for nickel, $2.50 per lb for copper, $1000 per ounce for
platinum, $300 per ounce for palladium and $450 per ounce for gold.
True width of channel samples = sampled width, due to
cross-cutting nature of the mineralization true width cannot be
determined for drill intercepts.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500, Email: mstrazdins@wallbridgemining.com
Wallbridge Updates Sudbury Exploration Progress
TORONTO, March 2 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) today reported drilling results from its Trill Property as well as
exploration progress on its other Sudbury area properties. Concurrent with the
geophysical program, 5,000 metres of drilling will be initiated this spring.
Trill Property Assay Results
----------------------------
Drill results on the Trill Property confirmed the high PGE grade of the
mineralization and extended the copper-nickel-PGE mineralization outside the
limits of the offset dyke. Significant drill intercepts from the mineralized
zone within the dyke include:
- 8.76 m of 0.59% Ni, 0.94% Cu and 6.758 g TPM/t in hole WTR-028
- 3.52 m of 0.83% Ni, 0.83% Cu and 6.815 g TPM/t in hole WTR-034
Intercepts from PGE-copper veins from outside the dyke include:
- 0.57 m of 0.45% Ni, 0.49% Cu and 7.774 g TPM/t in hole WTR-030
- 1.12 m of 0.06% Ni, 1.51% Cu and 10.143 g TPM/t in hole WTR-034
- 0.95 m of 1.45% Ni, 0.23% Cu and 3.183 g TPM/t in hole WTR-034
True width of the mineralized intercepts cannot be estimated due to the
nature of the mineralization. A complete table of mineralized intercepts is
appended to this release.
A deep penetrating Titan-24 IP/MT survey is planned to explore the dyke
and surrounding rocks, including the new breccia belt and gravity anomaly
located some 500 metres to the south of the Trill Offset Dyke mineralization.
Other Sudbury Exploration
-------------------------
The Titan-24 survey on the Trill Property is part of a major geophysical
program currently underway on Wallbridge's Sudbury properties which includes:
- A Titan-24 survey on the Frost Lake Property, northeast of the new
CVRD Inco/Lonmin Plc Capre Lake discovery. The survey will cover the
Amy Lake Zone and surrounding area, including the area of the footwall
nickel intercept announced last year (see Press Release dated
April 5, 2006);
- A UTEM survey covering the area of the footwall nickel intercept on
the Frost Property;
- A UTEM survey over the Drill Lake Property, located 1.5 kilometres to
the southeast and within the same breccia belt which hosts the CVRD
Inco/Lonmin Plc Capre Lake discovery;
- A Titan-24 survey over a 4 kilometre long belt of highly prospective
Sudbury Breccia on the Skynner Lake Property;
- An IP survey over the East Totten Lake Breccia Belt on the Trill
Property;
- A Titan-24 survey over the copper-nickel-PGE mineralization located in
the Hess Offset dyke last summer (see Press Release dated
December 19, 2006);
A total of 94.6 kilometres of Titan-24 surveying is planned. Titan-24 is
a deep penetrating IP/MT survey, which is capable of detecting sulphide
mineralization at greater depths than conventional IP surveys.
Drilling Update
---------------
On the North Range, testing of airborne conductors on the Crowflight JV
Project, intersected minor zinc mineralization at one of the 10 targets
tested. A down-hole EM survey indicated good conductive targets immediately
adjacent to the drill hole. These will be targeted by a follow-up drill
program scheduled to begin within the next two weeks.
This drilling is part of a spring/summer drilling program of up to
5,000 m, which will also test targets on the Frost Lake, Skynner, Foy, Hess,
Wisner, and Trill Properties. High priority targets include the up-plunge
projection of the CVRD Inco/Lonmin Plc Capre Lake discovery onto the Frost
Lake Property, as well as step out holes from the footwall nickel intercept on
the Frost Lake Property.
Drilling will also be carried in the Southwest Area of the Wisner
Property, to test a moderate depth Titan-24 IP anomaly which is spatially
associated with copper-nickel-PGE mineralization exposed by trenching, and
intersected in drilling last year (see Press Release dated May 30, 2006).
Drilling is also budgeted to follow up geophysical targets generated by
the winter geophysical programs described above.
The Frost Lake property is part of a 50/50 joint venture with Xstrata
Nickel. The Trill, Skynner, Lake and Foy properties are part of the Sudbury
Camp Joint Venture ("SCJV") with Lonmin Plc. ("Lonmin"). Lonmin earns a 50%
interest in any property on which a resource is established and can increase
its interest to 65% by taking that property through feasibility and funding
work through to commercial production.
Half core samples were prepared at ALS Chemex Ltd. Laboratories in
Sudbury and then shipped to their analytical facilities in Vancouver. Samples
were analyzed for Au, Pt and Pd using a standard fire assay with an ICPAES
finish; Cu and Ni were analyzed using a four acid (near total) digestion and
an AAS finish.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
Trill Property Assay Results
HOLE_ID FROM TO WIDTH Ni Cu
(m) (m) (m) % %
WTR-027 Dyke 25.78 27.89 2.11 0.12 0.46
WTR-028 Dyke 20.81 29.57 8.76 0.59 0.94
WTR-028 Vein 33.92 34.62 0.70 2.72 0.45
WTR-028 Vein 41.07 41.44 0.37 0.29 0.64
WTR-029 No assays above $120 per tonne cut-off (*)
WTR-030 Vein 10.16 10.73 0.57 0.45 0.49
WTR-030 Dyke 13.55 14.00 0.45 1.66 0.50
WTR-031 Dyke 21.58 22.27 0.69 3.33 0.61
WTR-032 No assays above $120 per tonne cut-off (*)
WTR-034 Dyke 14.48 18.00 3.52 0.83 0.83
WTR-034 Vein 21.28 22.40 1.12 0.06 1.51
WTR-034 Vein 26.80 27.75 0.95 1.45 0.23
WTR-034 Vein 31.20 31.50 0.30 2.24 2.31
WTR-035 Dyke 33.31 33.60 0.29 0.07 0.55
HOLE_ID Pt Pd Au TPM
g/t g/t g/t (g/t)
WTR-027 Dyke 2.216 3.322 0.443 5.981
WTR-028 Dyke 2.221 3.611 0.926 6.758
WTR-028 Vein 3.750 8.653 0.822 13.225
WTR-028 Vein 5.510 6.500 4.150 16.160
WTR-029 No assays above $120 per tonne cut-off (*)
WTR-030 Vein 2.200 5.240 0.334 7.774
WTR-030 Dyke 3.240 4.790 0.195 8.225
WTR-031 Dyke 1.645 4.050 0.114 5.809
WTR-032 No assays above $120 per tonne cut-off (*)
WTR-034 Dyke 2.095 4.248 0.471 6.815
WTR-034 Vein 4.380 5.390 0.373 10.143
WTR-034 Vein 1.029 2.044 0.109 3.183
WTR-034 Vein 1.360 10.050 0.130 11.540
WTR-035 Dyke 1.735 2.110 0.458 4.303
(*) Contained metal value cut-off calculated using the following prices:
$10 per lb for nickel, $2.50 per lb for copper, $1000 per ounce for
platinum, $300 per ounce for palladium and $450 per ounce for gold.
True width of channel samples = sampled width, due to
cross-cutting nature of the mineralization true width cannot be
determined for drill intercepts.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500, Email: mstrazdins@wallbridgemining.com
Attention Business Editors:
Wallbridge Mining Reports Progress of Broken Hammer Scoping Study
TORONTO, Aug. 7 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced that it has received a progress memo for the Scoping
Study or Preliminary Economic Assessment ("PEA") of its Broken Hammer
Platinum-Palladium-Gold-Copper project located in the North Range of the
Sudbury Basin. The progress memo recommended that Wallbridge conduct an
economic evaluation of a higher mining rate and proceed with a bulk sampling
program.
Wardrop Engineering Inc. (Wardrop), an internationally recognized
multidisciplinary engineering company, has provided Wallbridge with a progress
memo on the Broken Hammer preliminary economic assessment (or scoping study).
Wardrop led the study and prepared the mining, geotechnical and financial
evaluation. AMEC, an international project management, engineering and
consulting company prepared the environmental and waste management component.
DRA Americas (DRA), an international Engineering company prepared the milling
and smelting terms component.
SGS Mineral Services (SGS) was retained under the direction of DRA to
conduct confirmatory metallurgy test work. Positive metallurgical results
predicted total metal recoveries at 91.9% of the copper, 89.4% of the
platinum, 77.8% of the palladium, 83.7% of the gold, and 81.0% of the silver.
The progress memo provided a number of recommendations to improve the
technical risks and economics of the project:
- A bulk sample is recommended to validate the Inferred Resources and
confirm grades, especially platinum which occurs mainly in coarse
sperrylite. This reduction in the geological risk (of Inferred
categorization) ultimately will reduce project and economic risk.
- Following the extraction of the bulk sample, a geotechnical
investigation should be completed in the area of the proposed bulk
sample excavation to improve the confidence in the analysis of the
pit slope. The initial pit slope analysis is based on core analysis
only and further analysis in the field could potentially lead to an
increased pit slope which would enhance project economics by reducing
the overall strip ratio.
- A production rate higher than 325 t/d should be investigated as this
would lower mining and general and administration unit costs through
a shorter mine life.
Once operating and capital costs have been validated and optimized
through the negotiation of a third party mill agreement and a higher
production rate, a production and investment decision should be completed.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
Wallbridge Mining Reports Progress of Broken Hammer Scoping Study
TORONTO, Aug. 7 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced that it has received a progress memo for the Scoping
Study or Preliminary Economic Assessment ("PEA") of its Broken Hammer
Platinum-Palladium-Gold-Copper project located in the North Range of the
Sudbury Basin. The progress memo recommended that Wallbridge conduct an
economic evaluation of a higher mining rate and proceed with a bulk sampling
program.
Wardrop Engineering Inc. (Wardrop), an internationally recognized
multidisciplinary engineering company, has provided Wallbridge with a progress
memo on the Broken Hammer preliminary economic assessment (or scoping study).
Wardrop led the study and prepared the mining, geotechnical and financial
evaluation. AMEC, an international project management, engineering and
consulting company prepared the environmental and waste management component.
DRA Americas (DRA), an international Engineering company prepared the milling
and smelting terms component.
SGS Mineral Services (SGS) was retained under the direction of DRA to
conduct confirmatory metallurgy test work. Positive metallurgical results
predicted total metal recoveries at 91.9% of the copper, 89.4% of the
platinum, 77.8% of the palladium, 83.7% of the gold, and 81.0% of the silver.
The progress memo provided a number of recommendations to improve the
technical risks and economics of the project:
- A bulk sample is recommended to validate the Inferred Resources and
confirm grades, especially platinum which occurs mainly in coarse
sperrylite. This reduction in the geological risk (of Inferred
categorization) ultimately will reduce project and economic risk.
- Following the extraction of the bulk sample, a geotechnical
investigation should be completed in the area of the proposed bulk
sample excavation to improve the confidence in the analysis of the
pit slope. The initial pit slope analysis is based on core analysis
only and further analysis in the field could potentially lead to an
increased pit slope which would enhance project economics by reducing
the overall strip ratio.
- A production rate higher than 325 t/d should be investigated as this
would lower mining and general and administration unit costs through
a shorter mine life.
Once operating and capital costs have been validated and optimized
through the negotiation of a third party mill agreement and a higher
production rate, a production and investment decision should be completed.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
Attention Business Editors:
Wallbridge Mining Continues $5.3 M Exploration Program in Sudbury
TORONTO, Aug. 13 /CNW/ - Wallbridge Mining Company Limited (TSX:WM;
FWB: WC7) today updated the Company's exploration progress on its Sudbury area
properties. Wallbridge's aggressive $5.3 million summer 2007 exploration
program is well underway with eight mapping crews in the field. Titan-24
geophysical surveys have been completed on four properties and drill testing
of targets has begun. The Company is targeting copper, nickel and platinum
group element ("PGE") mineralization in the Sudbury Basin, host to the world's
largest nickel mining camp. A total of approximately 9,000 metres of drilling
is planned in the Sudbury area before year end.
Frost Lake, Skynner Lake, Trill and Hess Properties
---------------------------------------------------
A 4,800 metre drill program is underway on Frost Lake which is a high
priority drill target as the property is located directly adjacent to the
Capre 3000 copper-nickel PGE discovery announced by Lonmin Plc/CVRD Inco in
January 2007. Drilling will commence by month's end on the Skynner Lake
property, once targets have been prioritized.
A total of some 90 kilometres of Titan-24 surveying has been completed on
the Frost Lake, Skynner Lake, Trill and Hess properties. Titan-24 is a deep
penetrating IP/MT survey, which is capable of detecting sulphide
mineralization at greater depths than conventional IP surveys. A number of
targets were delineated on the Frost Lake and Skynner Lake properties. Final,
interpreted results for the Titan-24 survey completed on the Trill and Hess
properties are expected by month's end at which time drill targets will be
selected for fall 2007 drilling. Contracts have been signed for two additional
drills to begin testing targets on these, as well as other properties.
Foy and North Range Properties
------------------------------
Mapping and geochemical sampling on the Foy property has discovered
mineralized outcrops coincident with an IP chargeability anomaly over mafic
and felsic gneisses in the south-central portion of the property. MMI soil
sampling has delineated a modest contrast Cu-Pd-Au anomaly that overlaps with
the IP anomaly and is within an area that returned two bedrock samples
anomalous in Cu, Pt, Pd, and Au.
Exploration on Wallbridge's earlier stage North Range properties has been
accelerated in response to the private placement funding agreement with Lonmin
Plc ("Lonmin") announced June 6, 2007. Under this agreement $3.9 million is
earmarked for exploration of these properties over approximately the next
30 months.
Crowflight, Wisner and Creighton South Properties
-------------------------------------------------
During the early part of the summer, drill programs were completed on the
Crowflight and Wisner properties.
Drill testing of airborne conductors on the Crowflight JV Project
intersected minor zinc mineralization at one of the 10 targets tested. The
summer mapping program is focused on exploring east/west trending structures
that may host the eastward strike extension of the Hess offset dyke and
locating potentially mineralized zones of Sudbury Breccia.
Two holes were drilled in the Southwest Area of the Wisner Property to
test a moderate depth Titan-24 IP anomaly, which is spatially associated with
copper-nickel-PGE mineralization exposed by trenching, and intersected in
drilling last year (see Press Release dated May 30, 2006). Minor
mineralization was intersected in quartz-epidote-amphibole veinlets and as
disseminations within felsic and mafic gneiss and irregular zones of Sudbury
Breccia. Sudbury Breccia in both drill holes was enriched in pathfinder
elements typical of Sudbury Breccia associated with footwall mineralization
elsewhere in the Sudbury Basin.
Titan-24 IP anomalies were drill-tested by two holes on the Creighton
South property. Both holes intersected weakly disseminated and
fracture-controlled quartz-chalcopyrite mineralization in mafic metavolcanics,
metasediments and Sudbury Breccia. These results are being interpreted in
relation to the on-going mapping program being conducted in the same area,
which has extended previously recognised east/west trending zones of Sudbury
Breccia, northward towards the Creighton embayment. The Creighton embayment
hosts CVRD Inco's Creighton Mine, which has been in production for greater
than 100 years.
The Frost Lake property is part of a 50/50 joint venture with Xstrata
Nickel. The Trill, Skynner Lake, Foy and Creighton South properties comprise
part of the Sudbury Camp Joint Venture ("SCJV") with Lonmin which earns a 50%
interest in any property on which a resource is established and can increase
its interest to 65% by taking that property through feasibility and funding
work through to commercial production. The Hess property is a joint venture
with Champion Bear Resources.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota. Lonmin Plc is a
shareholder of Wallbridge and will hold approximately 18% of the fully diluted
share capital of Wallbridge if it exercises all of the warrants granted
pursuant to the private placement.
Lonmin Plc is incorporated in England and Wales and registered as company
number 103002. Registered office: 4 Grosvenor Place, London, SW1X 7YL, United
Kingdom
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
Wallbridge Mining Continues $5.3 M Exploration Program in Sudbury
TORONTO, Aug. 13 /CNW/ - Wallbridge Mining Company Limited (TSX:WM;
FWB: WC7) today updated the Company's exploration progress on its Sudbury area
properties. Wallbridge's aggressive $5.3 million summer 2007 exploration
program is well underway with eight mapping crews in the field. Titan-24
geophysical surveys have been completed on four properties and drill testing
of targets has begun. The Company is targeting copper, nickel and platinum
group element ("PGE") mineralization in the Sudbury Basin, host to the world's
largest nickel mining camp. A total of approximately 9,000 metres of drilling
is planned in the Sudbury area before year end.
Frost Lake, Skynner Lake, Trill and Hess Properties
---------------------------------------------------
A 4,800 metre drill program is underway on Frost Lake which is a high
priority drill target as the property is located directly adjacent to the
Capre 3000 copper-nickel PGE discovery announced by Lonmin Plc/CVRD Inco in
January 2007. Drilling will commence by month's end on the Skynner Lake
property, once targets have been prioritized.
A total of some 90 kilometres of Titan-24 surveying has been completed on
the Frost Lake, Skynner Lake, Trill and Hess properties. Titan-24 is a deep
penetrating IP/MT survey, which is capable of detecting sulphide
mineralization at greater depths than conventional IP surveys. A number of
targets were delineated on the Frost Lake and Skynner Lake properties. Final,
interpreted results for the Titan-24 survey completed on the Trill and Hess
properties are expected by month's end at which time drill targets will be
selected for fall 2007 drilling. Contracts have been signed for two additional
drills to begin testing targets on these, as well as other properties.
Foy and North Range Properties
------------------------------
Mapping and geochemical sampling on the Foy property has discovered
mineralized outcrops coincident with an IP chargeability anomaly over mafic
and felsic gneisses in the south-central portion of the property. MMI soil
sampling has delineated a modest contrast Cu-Pd-Au anomaly that overlaps with
the IP anomaly and is within an area that returned two bedrock samples
anomalous in Cu, Pt, Pd, and Au.
Exploration on Wallbridge's earlier stage North Range properties has been
accelerated in response to the private placement funding agreement with Lonmin
Plc ("Lonmin") announced June 6, 2007. Under this agreement $3.9 million is
earmarked for exploration of these properties over approximately the next
30 months.
Crowflight, Wisner and Creighton South Properties
-------------------------------------------------
During the early part of the summer, drill programs were completed on the
Crowflight and Wisner properties.
Drill testing of airborne conductors on the Crowflight JV Project
intersected minor zinc mineralization at one of the 10 targets tested. The
summer mapping program is focused on exploring east/west trending structures
that may host the eastward strike extension of the Hess offset dyke and
locating potentially mineralized zones of Sudbury Breccia.
Two holes were drilled in the Southwest Area of the Wisner Property to
test a moderate depth Titan-24 IP anomaly, which is spatially associated with
copper-nickel-PGE mineralization exposed by trenching, and intersected in
drilling last year (see Press Release dated May 30, 2006). Minor
mineralization was intersected in quartz-epidote-amphibole veinlets and as
disseminations within felsic and mafic gneiss and irregular zones of Sudbury
Breccia. Sudbury Breccia in both drill holes was enriched in pathfinder
elements typical of Sudbury Breccia associated with footwall mineralization
elsewhere in the Sudbury Basin.
Titan-24 IP anomalies were drill-tested by two holes on the Creighton
South property. Both holes intersected weakly disseminated and
fracture-controlled quartz-chalcopyrite mineralization in mafic metavolcanics,
metasediments and Sudbury Breccia. These results are being interpreted in
relation to the on-going mapping program being conducted in the same area,
which has extended previously recognised east/west trending zones of Sudbury
Breccia, northward towards the Creighton embayment. The Creighton embayment
hosts CVRD Inco's Creighton Mine, which has been in production for greater
than 100 years.
The Frost Lake property is part of a 50/50 joint venture with Xstrata
Nickel. The Trill, Skynner Lake, Foy and Creighton South properties comprise
part of the Sudbury Camp Joint Venture ("SCJV") with Lonmin which earns a 50%
interest in any property on which a resource is established and can increase
its interest to 65% by taking that property through feasibility and funding
work through to commercial production. The Hess property is a joint venture
with Champion Bear Resources.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota. Lonmin Plc is a
shareholder of Wallbridge and will hold approximately 18% of the fully diluted
share capital of Wallbridge if it exercises all of the warrants granted
pursuant to the private placement.
Lonmin Plc is incorporated in England and Wales and registered as company
number 103002. Registered office: 4 Grosvenor Place, London, SW1X 7YL, United
Kingdom
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
...
Attention Business Editors:
Wallbridge Mining Announces Corporate Appointment
TORONTO, Sept. 4 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) is pleased to announce the appointment of Mary Montgomery CA as Chief
Financial Officer. Mary has previously held senior positions with a number of
companies associated with the mining industry in Sudbury. Most recently she
was the Director of Finance for the Sudbury YMCA. Wallbridge Mining has key
exploration properties in the Sudbury area and is currently drilling a number
of copper-nickel-PGE targets.
Mary Montgomery is a graduate of Wilfred Laurier University with an
Honours Bachelor of Business Administration degree and a member of the
Canadian Institute of Chartered Accountants and the Institute of Chartered
Accountants of Ontario. Mary Montgomery replaces Michael Pigozzo, who has left
the Company to pursue other interests.
"Mary comes to Wallbridge with excellent experience and a solid financial
background, said Risto Laamanen, Wallbridge Chairman and Chief Executive
Officer. "We look forward to having Mary as a part of the Wallbridge team."
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited: Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
Wallbridge Mining Announces Corporate Appointment
TORONTO, Sept. 4 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) is pleased to announce the appointment of Mary Montgomery CA as Chief
Financial Officer. Mary has previously held senior positions with a number of
companies associated with the mining industry in Sudbury. Most recently she
was the Director of Finance for the Sudbury YMCA. Wallbridge Mining has key
exploration properties in the Sudbury area and is currently drilling a number
of copper-nickel-PGE targets.
Mary Montgomery is a graduate of Wilfred Laurier University with an
Honours Bachelor of Business Administration degree and a member of the
Canadian Institute of Chartered Accountants and the Institute of Chartered
Accountants of Ontario. Mary Montgomery replaces Michael Pigozzo, who has left
the Company to pursue other interests.
"Mary comes to Wallbridge with excellent experience and a solid financial
background, said Risto Laamanen, Wallbridge Chairman and Chief Executive
Officer. "We look forward to having Mary as a part of the Wallbridge team."
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited: Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
Attention Business/Financial Editors:
Wallbridge Mining Continues Exploration on Hess and Ministic Offset Dyke Properties Joint Ventured with Champion Bear
TORONTO, Oct. 25 /CNW/ - Wallbridge Mining Company Limited (TSX: WM,
FWB: WC7) and Champion Bear Resources Ltd. (TSX Venture: CBA) today jointly
reported on Wallbridge's nickel-copper-PGM exploration progress on its joint
ventures with Champion Bear on the Hess and Ministic Offset dykes. Drilling
will be carried out on two geophysical targets on the Hess Property Offset
Dyke. In addition, a mapping and prospecting program along existing
geophysical anomalies will be completed on the Ministic Offset Dyke. Both
properties are situated in the North Range of the prolific Sudbury Basin.
On the Hess Property, a Titan-24 survey completed this summer over a
2.0 kilometre section of the Hess Offset dyke has identified several drill
targets within a broad Titan 24 IP and MT anomaly centred on disseminated
mineralization discovered in 2006 by Wallbridge's mapping and prospecting
program. Two drill holes totalling a maximum of 500 metres will target two
zones within the anomalous geophysical response. Earlier sampling of the
surface mineralization returned up to 2,630 ppm copper, 1,760 ppm nickel,
80 ppb gold, 182 ppb platinum, and 657 ppb palladium (0.919 g/t TPM). (see
Wallbridge's press release dated December 19, 2006). Drill testing of this
target is expected to commence in early November 2007.
At the conclusion of the drilling program Wallbridge will have completed
its earn in and will have a 50% interest in the Hess Property. Future
exploration expenditures will be funded on a 50:50 basis with Champion Bear.
Wallbridge's other joint venture with Champion Bear is the Ermatinger
Joint Venture, which covers a 4.6 kilometre section of the Ministic Offset
Dyke. The joint venture technical committee has approved a $96,000 exploration
program consisting of mapping and prospecting existing IP and EM anomalies
along the Ministic Offset Dyke and an approximate 231 line kilometre
airborne EM and magnetometer survey.
Field work is to commence at the end of October with the airborne survey
to follow in late November and will be jointly funded by Wallbridge and
Champion Bear on a 50:50 basis.
Samples were prepared at ALS Chemex Ltd. Laboratories in Sudbury and then
shipped to their analytical facilities in Vancouver. Samples were analyzed for
Au, Pt and Pd by standard lead collection fire assay fusion followed by a
combination of inductively coupled plasma mass spectrometry (ICP-MS) and
atomic emission spectrometry (ICP-AES). Samples were also analyzed for 47 base
metal and trace elements using a four acid (HNO3-HCIO4-HF and HCI) near total
digestion and a combination of ICP-MS and ICP-AES. Any ICP overlimits were
re-analyzed using sodium peroxide fusion acid dissolution followed by ICP-AES.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element deposits. The company's principal properties
are located in the Sudbury Basin in Ontario. The Sudbury area hosts the
world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
About Champion Bear
Champion Bear is a mineral exploration company focused exclusively on the
historically prospective regions of Ontario. The company's primary target is
platinum group and precious metals and to a lesser extent polymetallic base
metal and pegmatite-hosted tantalum deposits. Champion Bear's aim is to create
shareholder value through selective property acquisition and joint venture
followed by focused exploration emphasizing drilling. The company has
assembled a large land position in the Dryden and Sudbury areas, totalling
over 16,000 hectares.
This joint news release contains forward-looking statements concerning
the timing and composition of additional exploration to be completed on the
Hess and Ministic Offset dykes which are based on Wallbridge's current
internal expectations. These statements are not guarantees of future
performance and involve known and unknown risks and uncertainties that are
common to junior mineral exploration companies. These risks and uncertainties
include, among other things, changes in general economic, market and business
conditions. Consequently, undue reliance should not be placed on such
forward-looking statements. Wallbridge disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, save and except as may be required by
applicable securities laws.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
%SEDAR: 00010252E
For further information: Please visit the company's website at
www.wallbridgemining.com or contact: Alar Soever, President, Tel: (705)
682-9297, Email: asoever@wallbridgemining.com; Mara Strazdins,
Vice-President, Investor Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com OR visit Champion Bear's website at
www.championbear.com or contact: Richard D. Kantor, Chairman and President,
Tel: (403) 229-9522, Email: richard.cbear@shaw.ca
Wallbridge Mining Continues Exploration on Hess and Ministic Offset Dyke Properties Joint Ventured with Champion Bear
TORONTO, Oct. 25 /CNW/ - Wallbridge Mining Company Limited (TSX: WM,
FWB: WC7) and Champion Bear Resources Ltd. (TSX Venture: CBA) today jointly
reported on Wallbridge's nickel-copper-PGM exploration progress on its joint
ventures with Champion Bear on the Hess and Ministic Offset dykes. Drilling
will be carried out on two geophysical targets on the Hess Property Offset
Dyke. In addition, a mapping and prospecting program along existing
geophysical anomalies will be completed on the Ministic Offset Dyke. Both
properties are situated in the North Range of the prolific Sudbury Basin.
On the Hess Property, a Titan-24 survey completed this summer over a
2.0 kilometre section of the Hess Offset dyke has identified several drill
targets within a broad Titan 24 IP and MT anomaly centred on disseminated
mineralization discovered in 2006 by Wallbridge's mapping and prospecting
program. Two drill holes totalling a maximum of 500 metres will target two
zones within the anomalous geophysical response. Earlier sampling of the
surface mineralization returned up to 2,630 ppm copper, 1,760 ppm nickel,
80 ppb gold, 182 ppb platinum, and 657 ppb palladium (0.919 g/t TPM). (see
Wallbridge's press release dated December 19, 2006). Drill testing of this
target is expected to commence in early November 2007.
At the conclusion of the drilling program Wallbridge will have completed
its earn in and will have a 50% interest in the Hess Property. Future
exploration expenditures will be funded on a 50:50 basis with Champion Bear.
Wallbridge's other joint venture with Champion Bear is the Ermatinger
Joint Venture, which covers a 4.6 kilometre section of the Ministic Offset
Dyke. The joint venture technical committee has approved a $96,000 exploration
program consisting of mapping and prospecting existing IP and EM anomalies
along the Ministic Offset Dyke and an approximate 231 line kilometre
airborne EM and magnetometer survey.
Field work is to commence at the end of October with the airborne survey
to follow in late November and will be jointly funded by Wallbridge and
Champion Bear on a 50:50 basis.
Samples were prepared at ALS Chemex Ltd. Laboratories in Sudbury and then
shipped to their analytical facilities in Vancouver. Samples were analyzed for
Au, Pt and Pd by standard lead collection fire assay fusion followed by a
combination of inductively coupled plasma mass spectrometry (ICP-MS) and
atomic emission spectrometry (ICP-AES). Samples were also analyzed for 47 base
metal and trace elements using a four acid (HNO3-HCIO4-HF and HCI) near total
digestion and a combination of ICP-MS and ICP-AES. Any ICP overlimits were
re-analyzed using sodium peroxide fusion acid dissolution followed by ICP-AES.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element deposits. The company's principal properties
are located in the Sudbury Basin in Ontario. The Sudbury area hosts the
world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
About Champion Bear
Champion Bear is a mineral exploration company focused exclusively on the
historically prospective regions of Ontario. The company's primary target is
platinum group and precious metals and to a lesser extent polymetallic base
metal and pegmatite-hosted tantalum deposits. Champion Bear's aim is to create
shareholder value through selective property acquisition and joint venture
followed by focused exploration emphasizing drilling. The company has
assembled a large land position in the Dryden and Sudbury areas, totalling
over 16,000 hectares.
This joint news release contains forward-looking statements concerning
the timing and composition of additional exploration to be completed on the
Hess and Ministic Offset dykes which are based on Wallbridge's current
internal expectations. These statements are not guarantees of future
performance and involve known and unknown risks and uncertainties that are
common to junior mineral exploration companies. These risks and uncertainties
include, among other things, changes in general economic, market and business
conditions. Consequently, undue reliance should not be placed on such
forward-looking statements. Wallbridge disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, save and except as may be required by
applicable securities laws.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
%SEDAR: 00010252E
For further information: Please visit the company's website at
www.wallbridgemining.com or contact: Alar Soever, President, Tel: (705)
682-9297, Email: asoever@wallbridgemining.com; Mara Strazdins,
Vice-President, Investor Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com OR visit Champion Bear's website at
www.championbear.com or contact: Richard D. Kantor, Chairman and President,
Tel: (403) 229-9522, Email: richard.cbear@shaw.ca
Attention Business Editors:
Wallbridge Mining Uncovers Gold-Silver-Copper-Lead Mineralization in the Sudbury Area
TORONTO, Dec. 4 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced that it has uncovered significant gold, silver, copper
and lead mineralization within an area of 80 by 150 metres on its Demorest
Property ("Property") northeast of Sudbury, Ontario. Surface grab Sample
No.701756 returned 2.87g/t gold, 770.0g/t silver, 3.70% copper and 2.93% lead,
Sample No.601613 returned 12.10g/t gold, 49.80g/t silver and 0.79% copper, and
Sample No.604168 returned 1.45g/t gold, 1175.0g/t silver, 1.37% copper and
5.68% lead. The property is located about 25 kilometres northeast of
Wallbridge's Parkin Offset property which hosts the Parkin Resource. It is
accessible by road and is a very short drive from infrastructure located in
the City of Sudbury.
"This acquisition and discovery is a result of our ongoing work in the
Sudbury region," stated Alar Soever, President of Wallbridge "The fact that
such good grade mineralization can be located on surface again demonstrates
how under-explored this area of Ontario is. It continues to surprise us that
this quality of mineralization can still be found on surface within a stone's
throw of such a major mining camp."
The Property was acquired in the spring of 2007 when it was brought to
Wallbridge's attention by local prospectors. A sample collected by the
prospectors and assayed at the Ontario Geoscience Laboratories in Sudbury,
Ontario, contained 2.1 oz/ton gold (72 g/t gold). This fall, mechanical
stripping, mapping, and sampling of four mineralized outcrops was completed by
Wallbridge during a preliminary evaluation of the Property. The
chalcopyrite-galena mineralization is associated with multiple, multi-stage
quartz-carbonate veins exhibiting highly developed crack-seal textures within
a broad, northeast-trending shear structure cutting a gabbroic intrusion.
Where exposed, the mineralized zones have widths of 5 to 10 metres.
Assay results for grab samples collected by Wallbridge are listed in
Table 1 below. Assay results for an additional 36 channel samples and an
additional nine grab samples are pending. Sample locations are shown in
Figure 1 - Compilation map of the Demorest Property found on our website at
www.wallbridgemining.com under press releases.
A first phase of drilling with up to 400 metres of coring is expected to
commence early in 2008.
Table 1. Summary of assay results received to date.
-------------------------------------------------------------------------
Grab Au Ag Cu Pb
Outcrop No. Sample No. g/t oz/ton g/t oz/ton % %
1 601612 4.82 0.14 10.00 0.29 0.16 0.05
1 601613 12.10 0.35 49.80 1.45 0.79 0.05
1 604168 1.45 0.04 1175.00 34.27 1.37 5.68
1 604169 3.62 0.11 14.75 0.43 0.92 0.19
3 604170 0.89 0.03 161.00 4.70 0.14 0.49
3 604171 1.07 0.03 25.40 0.74 0.78 0.44
3 701753 0.65 0.02 166.00 4.84 0.12 1.10
3 701754 1.10 0.03 69.00 2.01 7.99 0.02
3 701755 0.65 0.02 12.00 0.35 1.35 0.01
3 701756 2.87 0.08 770.00 22.46 3.70 2.93
3 701757 0.19 0.01 567.00 16.54 2.44 10.90
3 701758 2.05 0.06 225.00 6.56 0.49 1.49
3 701759 0.01 0.00 5.00 0.15 0.03 0.07
5 601615 0.15 0.00 94.40 2.75 5.43 0.03
5 601616 0.05 0.00 2.20 0.06 0.21 0.00
5 601617 0.28 0.01 25.90 0.76 0.82 0.07
5 604172 0.18 0.01 3.67 0.11 0.62 0.01
6 601614 0.22 0.01 2.27 0.07 0.66 0.00
6 604173 0.32 0.01 3.60 0.11 1.05 0.00
-------------------------------------------------------------------------
Samples were prepared at ALS Chemex Ltd. Laboratories in Sudbury and then
shipped to their analytical facilities in Vancouver. Samples were analyzed for
Au, Pt, and Pd by standard lead collection fire assay fusion followed by a
combination of inductively coupled plasma mass spectrometry (ICP-MS) and
atomic emission spectrometry (ICP-AES). Samples were also analyzed for 33 base
metal and trace elements using a four acid (HNO3-HCIO4-HF and HCI) near total
digestion and a combination of ICP-MS and ICP-AES. The Qualified Person
responsible for the technical content of this press release is Bruce Jago,
PhD. P.Geo, Vice-President, Exploration of Wallbridge.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element deposits. The company's principal properties
are located in the Sudbury Basin in Ontario. The Sudbury area hosts the
world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
%SEDAR: 00010252E
For further information: For further information, please visit the company's
website at www.wallbridgemining.com or contact: Alar Soever, President, Tel:
(705) 682-9297, Email: asoever@wallbridgemining.com; Mara Strazdins,
Vice-President, Investor Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
Wallbridge Mining Uncovers Gold-Silver-Copper-Lead Mineralization in the Sudbury Area
TORONTO, Dec. 4 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced that it has uncovered significant gold, silver, copper
and lead mineralization within an area of 80 by 150 metres on its Demorest
Property ("Property") northeast of Sudbury, Ontario. Surface grab Sample
No.701756 returned 2.87g/t gold, 770.0g/t silver, 3.70% copper and 2.93% lead,
Sample No.601613 returned 12.10g/t gold, 49.80g/t silver and 0.79% copper, and
Sample No.604168 returned 1.45g/t gold, 1175.0g/t silver, 1.37% copper and
5.68% lead. The property is located about 25 kilometres northeast of
Wallbridge's Parkin Offset property which hosts the Parkin Resource. It is
accessible by road and is a very short drive from infrastructure located in
the City of Sudbury.
"This acquisition and discovery is a result of our ongoing work in the
Sudbury region," stated Alar Soever, President of Wallbridge "The fact that
such good grade mineralization can be located on surface again demonstrates
how under-explored this area of Ontario is. It continues to surprise us that
this quality of mineralization can still be found on surface within a stone's
throw of such a major mining camp."
The Property was acquired in the spring of 2007 when it was brought to
Wallbridge's attention by local prospectors. A sample collected by the
prospectors and assayed at the Ontario Geoscience Laboratories in Sudbury,
Ontario, contained 2.1 oz/ton gold (72 g/t gold). This fall, mechanical
stripping, mapping, and sampling of four mineralized outcrops was completed by
Wallbridge during a preliminary evaluation of the Property. The
chalcopyrite-galena mineralization is associated with multiple, multi-stage
quartz-carbonate veins exhibiting highly developed crack-seal textures within
a broad, northeast-trending shear structure cutting a gabbroic intrusion.
Where exposed, the mineralized zones have widths of 5 to 10 metres.
Assay results for grab samples collected by Wallbridge are listed in
Table 1 below. Assay results for an additional 36 channel samples and an
additional nine grab samples are pending. Sample locations are shown in
Figure 1 - Compilation map of the Demorest Property found on our website at
www.wallbridgemining.com under press releases.
A first phase of drilling with up to 400 metres of coring is expected to
commence early in 2008.
Table 1. Summary of assay results received to date.
-------------------------------------------------------------------------
Grab Au Ag Cu Pb
Outcrop No. Sample No. g/t oz/ton g/t oz/ton % %
1 601612 4.82 0.14 10.00 0.29 0.16 0.05
1 601613 12.10 0.35 49.80 1.45 0.79 0.05
1 604168 1.45 0.04 1175.00 34.27 1.37 5.68
1 604169 3.62 0.11 14.75 0.43 0.92 0.19
3 604170 0.89 0.03 161.00 4.70 0.14 0.49
3 604171 1.07 0.03 25.40 0.74 0.78 0.44
3 701753 0.65 0.02 166.00 4.84 0.12 1.10
3 701754 1.10 0.03 69.00 2.01 7.99 0.02
3 701755 0.65 0.02 12.00 0.35 1.35 0.01
3 701756 2.87 0.08 770.00 22.46 3.70 2.93
3 701757 0.19 0.01 567.00 16.54 2.44 10.90
3 701758 2.05 0.06 225.00 6.56 0.49 1.49
3 701759 0.01 0.00 5.00 0.15 0.03 0.07
5 601615 0.15 0.00 94.40 2.75 5.43 0.03
5 601616 0.05 0.00 2.20 0.06 0.21 0.00
5 601617 0.28 0.01 25.90 0.76 0.82 0.07
5 604172 0.18 0.01 3.67 0.11 0.62 0.01
6 601614 0.22 0.01 2.27 0.07 0.66 0.00
6 604173 0.32 0.01 3.60 0.11 1.05 0.00
-------------------------------------------------------------------------
Samples were prepared at ALS Chemex Ltd. Laboratories in Sudbury and then
shipped to their analytical facilities in Vancouver. Samples were analyzed for
Au, Pt, and Pd by standard lead collection fire assay fusion followed by a
combination of inductively coupled plasma mass spectrometry (ICP-MS) and
atomic emission spectrometry (ICP-AES). Samples were also analyzed for 33 base
metal and trace elements using a four acid (HNO3-HCIO4-HF and HCI) near total
digestion and a combination of ICP-MS and ICP-AES. The Qualified Person
responsible for the technical content of this press release is Bruce Jago,
PhD. P.Geo, Vice-President, Exploration of Wallbridge.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element deposits. The company's principal properties
are located in the Sudbury Basin in Ontario. The Sudbury area hosts the
world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
%SEDAR: 00010252E
For further information: For further information, please visit the company's
website at www.wallbridgemining.com or contact: Alar Soever, President, Tel:
(705) 682-9297, Email: asoever@wallbridgemining.com; Mara Strazdins,
Vice-President, Investor Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
Weil hier immer wieder mal die Rede von Duluth Metals ist,
hat mich gewundert, daß dazu noch kein Thread existiert
-die haben ne ganze ganze Menge was im Boden liegen.
Mal gucken dürfte sehr lohnen!!
@ froschie
Kannst Du vielleicht sagen, wie groß Wallbridges Anteil
an Duluth ist??
Popeye
hat mich gewundert, daß dazu noch kein Thread existiert
-die haben ne ganze ganze Menge was im Boden liegen.
Mal gucken dürfte sehr lohnen!!
@ froschie
Kannst Du vielleicht sagen, wie groß Wallbridges Anteil
an Duluth ist??
Popeye
Attention Business Editors:
Wallbridge Announces Private Placement Financing
TORONTO, Dec. 19 /CNW/ - Wallbridge Mining Company Limited (TSX:WM) is
pleased to announce its intention to proceed with a brokered private placement
of up to an aggregate of 4,000,000 units in the capital of the Company (the
"Units").
A minimum of 2,000,000 Units will be placed through the facilities of
Mineralfields Group with a non-brokered private placement of up to an
aggregate of 2,000,000 Units, both subject to approval of the Toronto Stock
Exchange (the "TSX") (collectively, the "Offering").
The private placement is for the combined aggregate proceeds of up to
CAD$1,600,000. The Units will be sold at $0.40 (Canadian) per Unit with each
Unit being comprised of one common share to be issued as a "flow-through
share" as defined in the Income Tax Act (Canada) (a "Flow-Through Unit Share")
and one-half of one common share purchase warrant (each full common share
purchase warrant hereinafter referred to as a "Warrant"). Each Warrant will
entitle the holder thereof to purchase up to one additional common share of
the Company (each a "Warrant Share"), such Warrant Shares to be issued as
follows: (i) to the extent such Warrant is exercised during the first 12 month
period from the closing date (the "Closing Date"), one Warrant share at $0.80
(Canadian) per share, and (ii) to the extent such full Warrant is exercised
after the end of the first 12 month period from the Closing Date and on or
before the end of the second 12 month period from the Closing Date, one
Warrant Share at $1.00 (Canadian) per share. Only qualified Canadian residents
are eligible to subscribe for the Units in the capital of the Company.
100% of the gross proceeds of the Units sold under the Flow-Through
Offering will be used for Canadian exploration expenses (within the meaning of
the Income Tax Act (Canada)) (the "Tax Act") which qualify as "flow-through
mining expenditures" for purposes of the Tax Act related to the Company's
exploration projects in Ontario, Canada. The Company will renounce such
Canadian exploration expenses with an effective date of no later than
December 31, 2007.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500, Ext. 222, Email:
mstrazdins@wallbridgemining.com
Wallbridge Announces Private Placement Financing
TORONTO, Dec. 19 /CNW/ - Wallbridge Mining Company Limited (TSX:WM) is
pleased to announce its intention to proceed with a brokered private placement
of up to an aggregate of 4,000,000 units in the capital of the Company (the
"Units").
A minimum of 2,000,000 Units will be placed through the facilities of
Mineralfields Group with a non-brokered private placement of up to an
aggregate of 2,000,000 Units, both subject to approval of the Toronto Stock
Exchange (the "TSX") (collectively, the "Offering").
The private placement is for the combined aggregate proceeds of up to
CAD$1,600,000. The Units will be sold at $0.40 (Canadian) per Unit with each
Unit being comprised of one common share to be issued as a "flow-through
share" as defined in the Income Tax Act (Canada) (a "Flow-Through Unit Share")
and one-half of one common share purchase warrant (each full common share
purchase warrant hereinafter referred to as a "Warrant"). Each Warrant will
entitle the holder thereof to purchase up to one additional common share of
the Company (each a "Warrant Share"), such Warrant Shares to be issued as
follows: (i) to the extent such Warrant is exercised during the first 12 month
period from the closing date (the "Closing Date"), one Warrant share at $0.80
(Canadian) per share, and (ii) to the extent such full Warrant is exercised
after the end of the first 12 month period from the Closing Date and on or
before the end of the second 12 month period from the Closing Date, one
Warrant Share at $1.00 (Canadian) per share. Only qualified Canadian residents
are eligible to subscribe for the Units in the capital of the Company.
100% of the gross proceeds of the Units sold under the Flow-Through
Offering will be used for Canadian exploration expenses (within the meaning of
the Income Tax Act (Canada)) (the "Tax Act") which qualify as "flow-through
mining expenditures" for purposes of the Tax Act related to the Company's
exploration projects in Ontario, Canada. The Company will renounce such
Canadian exploration expenses with an effective date of no later than
December 31, 2007.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500, Ext. 222, Email:
mstrazdins@wallbridgemining.com
Attention Business Editors:
Wallbridge Mining Discovers Zones of Platinum Group Enrichment on the Pele Property
TORONTO, Dec. 19 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced that work on its Pele Mountain Resources (TSX VENTURE:
GEM) property has discovered extensive zones of platinum group element
("PGE"), chlorine and pathfinder element enrichment within favourable rocks
known as Sudbury Breccia, which occur within an eight kilometre long belt on
the Property. Exploration work has also extended the second Pele Offset Dyke,
discovered in September 2006, approximately three kilometres northward to near
the northern property boundary. Sudbury Breccia rocks showing elevated
chlorine, PGE, copper, nickel and silver +/- arsenic, bismuth and tellurium
levels are known host to copper-nickel-PGE orebodies in Sudbury. The Pele
Property is located in the northern sector of the Sudbury Mining Camp.
"We are extremely pleased to have located such an extensive area of these
favourable host rocks on what is a very large grass roots exploration
property. Linecutting is currently underway and with an IP geophysical survey
contracted to begin in January, we expect to be drill testing targets by the
end of the first quarter of 2008," commented Alar Soever, President of
Wallbridge.
The Sudbury Breccia belt has been mapped across the southern third of the
property over a strike length of approximately 8 kilometres and within a
corridor up to two kilometres wide. (A detailed property map can be viewed on
our web site at www.wallbridgemining.com under News Releases.) Sampling of
breccias has discovered discrete zones that have been altered, are highly
enriched in chlorine, and contain weakly anomalous concentrations of platinum
and palladium as well as pathfinder elements (As, Bi, Te). These favourable
rocks are indicative of the passage of mineralizing fluids similar to breccia
rocks hosting copper-PGE mineralization at Xstrata's Strathcona Mine and FNX's
McCreedy West Mine in the Levack Trough about 8 kilometres to the south.
Mapping on the eastern portion of the property late in the season
extended the second Pele Offset Dyke about three kilometres northward to its
termination just south of the northern property boundary. This dyke was found
late in the 2006 exploration season (see press release dated November 23,
2006) and is located approximately one kilometre west of the main Pele Offset
Dyke discovered by prospectors in 2005.
A 120 line-kilometre grid is being established across the southern third
of the property to further explore the belt of Sudbury Breccia by an induced
polarization survey that is to commence after the New Year and a detailed
mapping campaign that is slated to begin in May 2008. Drilling of an isolated
two-line AeroTEM III anomaly situated near one of the discrete zones of
Chlorine, PGE and pathfinder element enrichments is scheduled to begin before
year's end.
Samples were prepared at ALS Chemex Ltd. Laboratories in Sudbury and then
shipped to their analytical facilities in Vancouver. Samples were analyzed for
Au, Pt, and Pd by standard lead collection fire assay fusion followed by a
combination of inductively coupled plasma mass spectrometry (ICP-MS) and
atomic emission spectrometry (ICP-AES). Samples were also analyzed for 33 base
metal and trace elements using a four acid (HNO3-HCIO4-HF and HCI) near total
digestion and a combination of ICP-MS and ICP-AES.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Wallbridge Mining Discovers Zones of Platinum Group Enrichment on the Pele Property
TORONTO, Dec. 19 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced that work on its Pele Mountain Resources (TSX VENTURE:
GEM) property has discovered extensive zones of platinum group element
("PGE"), chlorine and pathfinder element enrichment within favourable rocks
known as Sudbury Breccia, which occur within an eight kilometre long belt on
the Property. Exploration work has also extended the second Pele Offset Dyke,
discovered in September 2006, approximately three kilometres northward to near
the northern property boundary. Sudbury Breccia rocks showing elevated
chlorine, PGE, copper, nickel and silver +/- arsenic, bismuth and tellurium
levels are known host to copper-nickel-PGE orebodies in Sudbury. The Pele
Property is located in the northern sector of the Sudbury Mining Camp.
"We are extremely pleased to have located such an extensive area of these
favourable host rocks on what is a very large grass roots exploration
property. Linecutting is currently underway and with an IP geophysical survey
contracted to begin in January, we expect to be drill testing targets by the
end of the first quarter of 2008," commented Alar Soever, President of
Wallbridge.
The Sudbury Breccia belt has been mapped across the southern third of the
property over a strike length of approximately 8 kilometres and within a
corridor up to two kilometres wide. (A detailed property map can be viewed on
our web site at www.wallbridgemining.com under News Releases.) Sampling of
breccias has discovered discrete zones that have been altered, are highly
enriched in chlorine, and contain weakly anomalous concentrations of platinum
and palladium as well as pathfinder elements (As, Bi, Te). These favourable
rocks are indicative of the passage of mineralizing fluids similar to breccia
rocks hosting copper-PGE mineralization at Xstrata's Strathcona Mine and FNX's
McCreedy West Mine in the Levack Trough about 8 kilometres to the south.
Mapping on the eastern portion of the property late in the season
extended the second Pele Offset Dyke about three kilometres northward to its
termination just south of the northern property boundary. This dyke was found
late in the 2006 exploration season (see press release dated November 23,
2006) and is located approximately one kilometre west of the main Pele Offset
Dyke discovered by prospectors in 2005.
A 120 line-kilometre grid is being established across the southern third
of the property to further explore the belt of Sudbury Breccia by an induced
polarization survey that is to commence after the New Year and a detailed
mapping campaign that is slated to begin in May 2008. Drilling of an isolated
two-line AeroTEM III anomaly situated near one of the discrete zones of
Chlorine, PGE and pathfinder element enrichments is scheduled to begin before
year's end.
Samples were prepared at ALS Chemex Ltd. Laboratories in Sudbury and then
shipped to their analytical facilities in Vancouver. Samples were analyzed for
Au, Pt, and Pd by standard lead collection fire assay fusion followed by a
combination of inductively coupled plasma mass spectrometry (ICP-MS) and
atomic emission spectrometry (ICP-AES). Samples were also analyzed for 33 base
metal and trace elements using a four acid (HNO3-HCIO4-HF and HCI) near total
digestion and a combination of ICP-MS and ICP-AES.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Attention Business Editors:
Wallbridge Cuts 3.85 g/t Gold and 1410 g/t Silver Across 1.2 Metres on Demorest Property
TORONTO, Feb. 21 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced significant channel sample results from its 100% owned
Demorest property located approximately 25 kilometres northeast of
Wallbridge's Parkin property. The property was acquired because of initial
high grade grab sample results, with up 12.1 g/t gold, 1175 g/t Ag, 7.99% Cu
and 10.90% Pb (as reported by Wallbridge in a December 4, 2007 press release).
A drill program is scheduled to start upon completion of an IP survey planned
for March 2008.
Thirty-five channel samples totalling 36.13 metres in length were cut
from two trenches that cover a total area of 270 m(2). Highlight assays from
seven channel samples cut into Trench 1 include:
- 249 g/t Ag (8.01 oz/ton), 0.66 g/t Au, 0.60% Cu and 1.12% Pb over
1.37 metres
- 80 g/t Ag (2.58 oz/ton), 2.27 g/t Au, 2.72% Cu and 0.20% Pb over
1.00 metre
Highlight assays from five channel samples cut into Trench 2 include:
- 424 g/t Ag, (13.63 oz/ton), 1.81 g/t Au, 1.33% Cu and 2.31% Pb over
1.00 metre
- 103 g/t Ag, (3.31 oz/ton), 1.16 g/t Au, 1.5% Cu and 0.25% Pb over
1.00 metre
- 1410 g/t Ag (45.33 oz/ton), 3.85 g/t Au, 6.79 % Cu and 6.05% Pb over
1.2 meters
"These assay results indicate the presence of a significant mineralized
vein system, the full extent of which is as of yet unknown. This is an
exciting new poly-metallic discovery with very high silver credits," stated
Alar Soever, President of Wallbridge Mining. "We will be starting linecutting
next week, in preparation for an IP survey, which will be followed by diamond
drilling."
Channel sampling was completed in two of the recently excavated trenches
that exposed Ag-Au-Cu-Pb mineralization on the Demorest Property.
Mineralization occurs as quartz-carbonate-sulphide veins within a broad
north-east trending shear zone cutting gabbro.
Trench 1 exposed mineralized vein material across a width of 8 metres and
along a minimum strike length of 28 metres. This vein system is open along
strike to the northeast and southwest where it is covered by overburden.
The entire Trench 2, 40 metres to the northwest of Trench 1, exposed
similar mineralization and veining over an area of about 10 metres by 15
metres. Again, the system here is open in all directions beneath overburden.
Individual sample assays and weighted average composites from channel
samples collected by Wallbridge are listed in Table 1 and channel sample
locations are shown on Figure 1 (Demorest Au-Ag Property: Trench Map and
Channel Locations), which can be found on our website at
www.wallbridgemining.com under press releases.
A first phase of drilling with up to 400 metres of coring is expected to
commence before the end of April following up an induced polarization (IP)
survey expected to be completed before the end of March 2008. Preliminary
drilling and IP surveying will be directed toward understanding the structure
of the mineralization along strike and down dip and to determine whether
mineralization exposed in Trench 1 and Trench 2 is connected at depth or form
parallel, mineralized vein systems.
Samples were prepared at ALS Chemex Ltd. Laboratories in Sudbury and then
shipped to their analytical facilities in Vancouver. Gold was analyzed by
standard fire assay procedures using Chemex's Au-SCR21 +/- screen fraction
analysis package to more accurately determine the gold content of the samples.
Au values reported in Table 1 represent the weighted average of oversized and
undersized fractions. Silver, Cu, and Pb were analyzed by Chemex's standard
ICP package (ME-MS61) using a four acid (HNO3-HCIO4-HF and HCI) near total
digestion and a combination of ICP-MS and ICP-AES Analytical methods.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element deposits. The company's principal properties
are located in the Sudbury Basin in Ontario. The Sudbury area hosts the
world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Table 1: 2007 Demorest Channel Sample Results
-------------------------------------------------------------------------
2007 Demorest Channel Sample Results
-------------------------------------------------------------------------
Lengths(m) ppm oz/ton ppm oz/ton % %
Sample Channel From To Length Ag Au Cu Pb
-------------------------------------------------------------------------
-------------------------------------------------------------------------
701761 A 1.37 249.00 8.01 0.66 0.021 0.60 1.12
-------------------------------------------------------------------------
-------------------------------------------------------------------------
701762 B 0.96 218.00 7.01 0.58 0.019 1.13 0.99
-------------------------------------------------------------------------
-------------------------------------------------------------------------
701763 C 0.00 1.00 1.00 4.67 0.15 0.11 0.004 0.45 0.02
701764 C 1.00 2.00 1.00 6.29 0.20 1.01 0.032 2.75 0.01
701765 C 2.00 2.50 0.50 6.21 0.20 0.12 0.004 2.08 0.01
701766 C 2.50 4.00 1.50 40.00 1.29 2.87 0.092 1.45 0.37
701767 C 4.00 5.00 1.00 22.10 0.71 0.91 0.029 0.12 0.33
701768 C 5.00 6.15 1.15 8.67 0.28 0.47 0.015 0.07 0.05
Composite C 6.15 17.26 0.55 1.13 0.036 1.08 0.16
-------------------------------------------------------------------------
-------------------------------------------------------------------------
701769 D 1.20 11.10 0.36 2.71 0.087 2.28 0.01
-------------------------------------------------------------------------
-------------------------------------------------------------------------
701770 E 1.15 0.98 0.03 0.39 0.013 0.11 0.01
-------------------------------------------------------------------------
-------------------------------------------------------------------------
701771 F 0.00 1.00 1.00 11.55 0.37 0.60 0.019 0.17 0.01
701772 F 1.00 2.00 1.00 18.00 0.58 1.26 0.041 3.03 0.01
701773 F 2.00 2.90 0.90 3.48 0.11 0.36 0.012 0.21 0.01
Composite F 2.90 11.27 0.36 0.75 0.024 1.17 0.01
-------------------------------------------------------------------------
-------------------------------------------------------------------------
701774 G 0.00 1.00 1.00 80.10 2.58 2.27 0.073 2.72 0.20
701775 G 1.00 2.00 1.00 0.89 0.03 0.05 0.002 0.06 0.00
701776 G 2.00 3.00 1.00 0.33 0.01 0.05 0.002 0.02 0.00
Composite G 3.00 27.11 0.87 0.79 0.025 0.93 0.07
-------------------------------------------------------------------------
-------------------------------------------------------------------------
701776 H 1.00 424.00 13.63 1.81 0.058 1.33 2.31
-------------------------------------------------------------------------
-------------------------------------------------------------------------
701778 I 0.00 1.00 1.00 103.00 3.31 1.16 0.037 1.50 0.25
701779 I 1.00 2.00 1.00 51.30 1.65 0.62 0.020 1.76 0.17
701780 I 2.00 3.00 1.00 1.52 0.05 0.05 0.002 0.05 0.01
701781 I 3.00 4.00 1.00 0.60 0.02 0.05 0.002 0.02 0.00
701782 I 4.00 5.00 1.00 1.07 0.03 0.05 0.002 0.05 0.01
701783 I 5.00 6.00 1.00 17.80 0.57 0.10 0.003 0.06 0.23
701784 I 6.00 7.00 1.00 1.14 0.04 0.05 0.002 0.02 0.03
Composite I 7.00 25.20 0.81 0.30 0.010 0.50 0.10
-------------------------------------------------------------------------
-------------------------------------------------------------------------
701785 J 1.00 21.70 0.70 1.39 0.045 0.98 0.09
-------------------------------------------------------------------------
-------------------------------------------------------------------------
701786 K 0.00 1.00 1.00 0.49 0.02 0.05 0.002 0.01 0.00
701787 K 1.00 2.00 1.00 1.66 0.05 0.07 0.002 0.08 0.01
701788 K 2.00 3.50 1.50 5.76 0.19 1.60 0.051 0.47 0.00
701789 K 3.50 4.70 1.20 1410.00 45.33 3.85 0.124 6.79 6.05
Composite K 4.70 362.30 11.65 1.52 0.049 1.90 1.55
-------------------------------------------------------------------------
-------------------------------------------------------------------------
701790 L 0.00 1.00 1.00 11.35 0.36 0.05 0.002 0.06 0.05
701791 L 1.00 2.00 1.00 1.49 0.05 0.05 0.002 0.01 0.01
701792 L 2.00 3.00 1.00 1.03 0.03 0.05 0.002 0.01 0.01
701793 L 3.00 4.00 1.00 3.64 0.12 0.13 0.004 0.13 0.02
701794 L 4.00 5.00 1.00 0.93 0.03 0.05 0.002 0.02 0.01
701795 L 5.00 5.70 0.70 0.72 0.02 0.05 0.002 0.01 0.01
Composite L 5.70 3.32 0.11 0.06 0.002 0.04 0.02
-------------------------------------------------------------------------
-------------------------------------------------------------------------
%SEDAR: 00010252E
For further information: the company's website at www.wallbridgemining.com or
contact: Alar Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
Wallbridge Cuts 3.85 g/t Gold and 1410 g/t Silver Across 1.2 Metres on Demorest Property
TORONTO, Feb. 21 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced significant channel sample results from its 100% owned
Demorest property located approximately 25 kilometres northeast of
Wallbridge's Parkin property. The property was acquired because of initial
high grade grab sample results, with up 12.1 g/t gold, 1175 g/t Ag, 7.99% Cu
and 10.90% Pb (as reported by Wallbridge in a December 4, 2007 press release).
A drill program is scheduled to start upon completion of an IP survey planned
for March 2008.
Thirty-five channel samples totalling 36.13 metres in length were cut
from two trenches that cover a total area of 270 m(2). Highlight assays from
seven channel samples cut into Trench 1 include:
- 249 g/t Ag (8.01 oz/ton), 0.66 g/t Au, 0.60% Cu and 1.12% Pb over
1.37 metres
- 80 g/t Ag (2.58 oz/ton), 2.27 g/t Au, 2.72% Cu and 0.20% Pb over
1.00 metre
Highlight assays from five channel samples cut into Trench 2 include:
- 424 g/t Ag, (13.63 oz/ton), 1.81 g/t Au, 1.33% Cu and 2.31% Pb over
1.00 metre
- 103 g/t Ag, (3.31 oz/ton), 1.16 g/t Au, 1.5% Cu and 0.25% Pb over
1.00 metre
- 1410 g/t Ag (45.33 oz/ton), 3.85 g/t Au, 6.79 % Cu and 6.05% Pb over
1.2 meters
"These assay results indicate the presence of a significant mineralized
vein system, the full extent of which is as of yet unknown. This is an
exciting new poly-metallic discovery with very high silver credits," stated
Alar Soever, President of Wallbridge Mining. "We will be starting linecutting
next week, in preparation for an IP survey, which will be followed by diamond
drilling."
Channel sampling was completed in two of the recently excavated trenches
that exposed Ag-Au-Cu-Pb mineralization on the Demorest Property.
Mineralization occurs as quartz-carbonate-sulphide veins within a broad
north-east trending shear zone cutting gabbro.
Trench 1 exposed mineralized vein material across a width of 8 metres and
along a minimum strike length of 28 metres. This vein system is open along
strike to the northeast and southwest where it is covered by overburden.
The entire Trench 2, 40 metres to the northwest of Trench 1, exposed
similar mineralization and veining over an area of about 10 metres by 15
metres. Again, the system here is open in all directions beneath overburden.
Individual sample assays and weighted average composites from channel
samples collected by Wallbridge are listed in Table 1 and channel sample
locations are shown on Figure 1 (Demorest Au-Ag Property: Trench Map and
Channel Locations), which can be found on our website at
www.wallbridgemining.com under press releases.
A first phase of drilling with up to 400 metres of coring is expected to
commence before the end of April following up an induced polarization (IP)
survey expected to be completed before the end of March 2008. Preliminary
drilling and IP surveying will be directed toward understanding the structure
of the mineralization along strike and down dip and to determine whether
mineralization exposed in Trench 1 and Trench 2 is connected at depth or form
parallel, mineralized vein systems.
Samples were prepared at ALS Chemex Ltd. Laboratories in Sudbury and then
shipped to their analytical facilities in Vancouver. Gold was analyzed by
standard fire assay procedures using Chemex's Au-SCR21 +/- screen fraction
analysis package to more accurately determine the gold content of the samples.
Au values reported in Table 1 represent the weighted average of oversized and
undersized fractions. Silver, Cu, and Pb were analyzed by Chemex's standard
ICP package (ME-MS61) using a four acid (HNO3-HCIO4-HF and HCI) near total
digestion and a combination of ICP-MS and ICP-AES Analytical methods.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element deposits. The company's principal properties
are located in the Sudbury Basin in Ontario. The Sudbury area hosts the
world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Table 1: 2007 Demorest Channel Sample Results
-------------------------------------------------------------------------
2007 Demorest Channel Sample Results
-------------------------------------------------------------------------
Lengths(m) ppm oz/ton ppm oz/ton % %
Sample Channel From To Length Ag Au Cu Pb
-------------------------------------------------------------------------
-------------------------------------------------------------------------
701761 A 1.37 249.00 8.01 0.66 0.021 0.60 1.12
-------------------------------------------------------------------------
-------------------------------------------------------------------------
701762 B 0.96 218.00 7.01 0.58 0.019 1.13 0.99
-------------------------------------------------------------------------
-------------------------------------------------------------------------
701763 C 0.00 1.00 1.00 4.67 0.15 0.11 0.004 0.45 0.02
701764 C 1.00 2.00 1.00 6.29 0.20 1.01 0.032 2.75 0.01
701765 C 2.00 2.50 0.50 6.21 0.20 0.12 0.004 2.08 0.01
701766 C 2.50 4.00 1.50 40.00 1.29 2.87 0.092 1.45 0.37
701767 C 4.00 5.00 1.00 22.10 0.71 0.91 0.029 0.12 0.33
701768 C 5.00 6.15 1.15 8.67 0.28 0.47 0.015 0.07 0.05
Composite C 6.15 17.26 0.55 1.13 0.036 1.08 0.16
-------------------------------------------------------------------------
-------------------------------------------------------------------------
701769 D 1.20 11.10 0.36 2.71 0.087 2.28 0.01
-------------------------------------------------------------------------
-------------------------------------------------------------------------
701770 E 1.15 0.98 0.03 0.39 0.013 0.11 0.01
-------------------------------------------------------------------------
-------------------------------------------------------------------------
701771 F 0.00 1.00 1.00 11.55 0.37 0.60 0.019 0.17 0.01
701772 F 1.00 2.00 1.00 18.00 0.58 1.26 0.041 3.03 0.01
701773 F 2.00 2.90 0.90 3.48 0.11 0.36 0.012 0.21 0.01
Composite F 2.90 11.27 0.36 0.75 0.024 1.17 0.01
-------------------------------------------------------------------------
-------------------------------------------------------------------------
701774 G 0.00 1.00 1.00 80.10 2.58 2.27 0.073 2.72 0.20
701775 G 1.00 2.00 1.00 0.89 0.03 0.05 0.002 0.06 0.00
701776 G 2.00 3.00 1.00 0.33 0.01 0.05 0.002 0.02 0.00
Composite G 3.00 27.11 0.87 0.79 0.025 0.93 0.07
-------------------------------------------------------------------------
-------------------------------------------------------------------------
701776 H 1.00 424.00 13.63 1.81 0.058 1.33 2.31
-------------------------------------------------------------------------
-------------------------------------------------------------------------
701778 I 0.00 1.00 1.00 103.00 3.31 1.16 0.037 1.50 0.25
701779 I 1.00 2.00 1.00 51.30 1.65 0.62 0.020 1.76 0.17
701780 I 2.00 3.00 1.00 1.52 0.05 0.05 0.002 0.05 0.01
701781 I 3.00 4.00 1.00 0.60 0.02 0.05 0.002 0.02 0.00
701782 I 4.00 5.00 1.00 1.07 0.03 0.05 0.002 0.05 0.01
701783 I 5.00 6.00 1.00 17.80 0.57 0.10 0.003 0.06 0.23
701784 I 6.00 7.00 1.00 1.14 0.04 0.05 0.002 0.02 0.03
Composite I 7.00 25.20 0.81 0.30 0.010 0.50 0.10
-------------------------------------------------------------------------
-------------------------------------------------------------------------
701785 J 1.00 21.70 0.70 1.39 0.045 0.98 0.09
-------------------------------------------------------------------------
-------------------------------------------------------------------------
701786 K 0.00 1.00 1.00 0.49 0.02 0.05 0.002 0.01 0.00
701787 K 1.00 2.00 1.00 1.66 0.05 0.07 0.002 0.08 0.01
701788 K 2.00 3.50 1.50 5.76 0.19 1.60 0.051 0.47 0.00
701789 K 3.50 4.70 1.20 1410.00 45.33 3.85 0.124 6.79 6.05
Composite K 4.70 362.30 11.65 1.52 0.049 1.90 1.55
-------------------------------------------------------------------------
-------------------------------------------------------------------------
701790 L 0.00 1.00 1.00 11.35 0.36 0.05 0.002 0.06 0.05
701791 L 1.00 2.00 1.00 1.49 0.05 0.05 0.002 0.01 0.01
701792 L 2.00 3.00 1.00 1.03 0.03 0.05 0.002 0.01 0.01
701793 L 3.00 4.00 1.00 3.64 0.12 0.13 0.004 0.13 0.02
701794 L 4.00 5.00 1.00 0.93 0.03 0.05 0.002 0.02 0.01
701795 L 5.00 5.70 0.70 0.72 0.02 0.05 0.002 0.01 0.01
Composite L 5.70 3.32 0.11 0.06 0.002 0.04 0.02
-------------------------------------------------------------------------
-------------------------------------------------------------------------
%SEDAR: 00010252E
For further information: the company's website at www.wallbridgemining.com or
contact: Alar Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
Attention Business Editors:
Wallbridge Mining Intersects Nickel-Copper Mineralization on JV Property in Sudbury
TORONTO, Feb. 26 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced that it has intersected nickel-copper-sulphide
mineralization during its drilling program on one of its Crowflight Joint
Venture properties located in the North Range of the Sudbury Igneous Complex.
Follow-up drilling on the property will be part of Wallbridge's 2008
exploration program in the prolific Sudbury Mining Camp. Wallbridge currently
holds more than 700 square kilometres of prime land holdings in the Sudbury
Basin.
The nickel-copper discovery was made while drilling three MegaTEM
airborne geophysical electro-magnetic anomalies on Grid F of Area 4 and
consisted of disseminated, net-textured and stringer
pyrrhotite-pentlandite-chalcopyrite mineralization within a quartz-gabbro host
rock. The sulphide-mineralized interval returned:
- 5.7 metres of 0.12% nickel, 0.16% copper and 24 ppb
platinum+palladium from 85.00 to 90.70 metres
- including 1.22 metres of 0.31% nickel, 0.37% copper and 50 ppb
platinum+palladium from 88.00 to 89.22
Alar Soever, President of Wallbridge commented, "This mineralization is
significant in that it is the first intersection in this area which has seen
very little exploration in the past. As such, it forms the foundation for
future success. We will be continuing exploration on this Joint Venture
property with airborne geophysics and drilling planned for 2008. We have also
staked additional ground to the west to cover the favourable rock units, the
presence of which was previously unknown."
The drill hole was collared in a mixed unit of metasedimentary and
metavolcanic rocks including a narrow interval of pyrite-bearing volcanic
exhalite which has returned up to 20 ppb Au in surface grab samples. The
nickel mineralization, however, was intersected in a mafic intrusive from 83.5
metres to the end of the hole at 111.5 metres. Follow-up geophysical surveys
and drilling will be focused on following this mafic unit.
Surface outcrops are scarce in this area of the North Range so future
exploration and drilling will be guided mainly by a 161 line-kilometre
airborne survey using Aeroquest's AeroTEM III system which is scheduled for
March 2008 and be followed by a summer mapping and prospecting program. The
airborne survey will cover buried host rock stratigraphy that has been covered
by staking to the west of the discovery and includes a magnetic high partially
defined by the 2004 MegaTEM survey that trends from Grid F onto the newly
staked ground.
Wallbridge has now earned a conditional 50% interest in the Joint Venture
Properties by expending $700,000 prior to the end of 2007. Under the terms of
the Joint Venture Agreement (see press release dated June 28, 2006),
Wallbridge can increase this interest to a 70% vested interest in any of four
specific Project Areas within the Joint Venture Properties by spending an
additional $1,000,000 on each Project Area it wishes to vest in prior to the
end of 2010.
In a recent letter, Crowflight agreed to waive the work commitments for
2008, for the other three areas forming part of the joint venture.
Drill core samples were prepared at ALS Chemex Ltd. Laboratories in
Sudbury and then shipped to their analytical facilities in Vancouver. Samples
were analyzed for Au, Pt, and Pd by standard lead collection fire assay fusion
followed by a combination of inductively coupled plasma mass spectrometry
(ICP-MS) and atomic emission spectrometry (ICP-AES). Samples were also
analyzed for 33 base metal and trace elements using a four acid (HNO3-HCIO4-HF
and HCI) near total digestion and a combination of ICP-MS and ICP-AES.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Wallbridge Mining Intersects Nickel-Copper Mineralization on JV Property in Sudbury
TORONTO, Feb. 26 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced that it has intersected nickel-copper-sulphide
mineralization during its drilling program on one of its Crowflight Joint
Venture properties located in the North Range of the Sudbury Igneous Complex.
Follow-up drilling on the property will be part of Wallbridge's 2008
exploration program in the prolific Sudbury Mining Camp. Wallbridge currently
holds more than 700 square kilometres of prime land holdings in the Sudbury
Basin.
The nickel-copper discovery was made while drilling three MegaTEM
airborne geophysical electro-magnetic anomalies on Grid F of Area 4 and
consisted of disseminated, net-textured and stringer
pyrrhotite-pentlandite-chalcopyrite mineralization within a quartz-gabbro host
rock. The sulphide-mineralized interval returned:
- 5.7 metres of 0.12% nickel, 0.16% copper and 24 ppb
platinum+palladium from 85.00 to 90.70 metres
- including 1.22 metres of 0.31% nickel, 0.37% copper and 50 ppb
platinum+palladium from 88.00 to 89.22
Alar Soever, President of Wallbridge commented, "This mineralization is
significant in that it is the first intersection in this area which has seen
very little exploration in the past. As such, it forms the foundation for
future success. We will be continuing exploration on this Joint Venture
property with airborne geophysics and drilling planned for 2008. We have also
staked additional ground to the west to cover the favourable rock units, the
presence of which was previously unknown."
The drill hole was collared in a mixed unit of metasedimentary and
metavolcanic rocks including a narrow interval of pyrite-bearing volcanic
exhalite which has returned up to 20 ppb Au in surface grab samples. The
nickel mineralization, however, was intersected in a mafic intrusive from 83.5
metres to the end of the hole at 111.5 metres. Follow-up geophysical surveys
and drilling will be focused on following this mafic unit.
Surface outcrops are scarce in this area of the North Range so future
exploration and drilling will be guided mainly by a 161 line-kilometre
airborne survey using Aeroquest's AeroTEM III system which is scheduled for
March 2008 and be followed by a summer mapping and prospecting program. The
airborne survey will cover buried host rock stratigraphy that has been covered
by staking to the west of the discovery and includes a magnetic high partially
defined by the 2004 MegaTEM survey that trends from Grid F onto the newly
staked ground.
Wallbridge has now earned a conditional 50% interest in the Joint Venture
Properties by expending $700,000 prior to the end of 2007. Under the terms of
the Joint Venture Agreement (see press release dated June 28, 2006),
Wallbridge can increase this interest to a 70% vested interest in any of four
specific Project Areas within the Joint Venture Properties by spending an
additional $1,000,000 on each Project Area it wishes to vest in prior to the
end of 2010.
In a recent letter, Crowflight agreed to waive the work commitments for
2008, for the other three areas forming part of the joint venture.
Drill core samples were prepared at ALS Chemex Ltd. Laboratories in
Sudbury and then shipped to their analytical facilities in Vancouver. Samples
were analyzed for Au, Pt, and Pd by standard lead collection fire assay fusion
followed by a combination of inductively coupled plasma mass spectrometry
(ICP-MS) and atomic emission spectrometry (ICP-AES). Samples were also
analyzed for 33 base metal and trace elements using a four acid (HNO3-HCIO4-HF
and HCI) near total digestion and a combination of ICP-MS and ICP-AES.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Ich finde 'Wallbridge' langfristig super
-alleine die 'Duluth'-Beteiligung müsste derzeit
schon einen riesen Anteil von Wallbridges Bewertung
ausmachen, oder??
-alleine die 'Duluth'-Beteiligung müsste derzeit
schon einen riesen Anteil von Wallbridges Bewertung
ausmachen, oder??
Attention Business Editors:
Wallbridge Mining Acquires Large BC Copper Property
TORONTO, March 3 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced that it has optioned a 244 square kilometre property
covering a newly discovered copper-gold occurrence within a large
calc-alkaline, granodiorite intrusion in the Pemberton area of south-western
British Columbia.
Copper staining and mineralization was uncovered by the vendor in several
recently opened outcrops during construction of a logging road in the area.
Two selected grab samples collected by the vendor reportedly returned 1% and
8% copper. The occurrence is up-slope of coincident Cu and Au anomalies in the
regional government stream sediment survey.
Commenting on this latest acquisition Alar Soever, President of
Wallbridge stated, "Although this is a departure from our focus in Sudbury,
the more we looked at this opportunity, the more we realized we could not pass
it by. The similarity with the regional geology which hosts some very large
copper-gold deposits elsewhere around the Pacific Rim is remarkable. As we did
our due diligence it became obvious that there was an opportunity here that
has not been previously recognised. This is a very large property which has
seen very little previous exploration and where our initial reconnaissance
results indicate the presence of a sizable mineralizing system. As Sudbury
remains the primary focus of our efforts, we intend to rapidly advance this
project to the point where it will attract funding from an aggressive Joint
Venture Partner.
During an initial site visit and a subsequent two week reconnaissance
program carried out last fall, 73 rock samples (Table 1), 340 soil samples and
6 stream sediment samples were collected across the property. This work
identified anomalous rock samples containing values up to 1330 ppm Cu, 150 ppm
Mo, and strongly anomalous Pb and Zn in the vicinity of the original showing.
Soil samples contained up to 327 ppm Cu, 773 ppm Pb, and 520 ppm Zn. One soil
sample contained 8.62 ppm Au, others ranged up to 0.15 ppm Au.
Table 1: Geochemistry of rock(*) samples collected near original
discovery.
-------------------------------------------------------------------------
Sample Rock ppm ppm ppm ppm ppm ppm
No. Type Type Cu Mo Ag Au Pb Zn
-------------------------------------------------------------------------
707753 GRDR GRAB 274 1 1 0.02 224 900
707764 sericitized QFP GRAB 33 4 10 0.02 442 753
707782 GRDR GRAB 530 4 3 0.03 1225 909
707813 chloritized basalt GRAB 507 0 0 0.04 4 96
CR 13F GRDR FLOAT 840 10 5 0.01 240 90
CR15 GRDR GRAB 40 10 5 0.01 360 550
CR 15F GRDR FLOAT 1330 150 1 0.01 30 60
CR 15F2 GRDR Breccia FLOAT 1120 10 22 0.18 3110 830
-------------------------------------------------------------------------
(*) GRDR: granodiorite, QFP: quartz-feldspar porphyry
The sampling identified a broad, anomalous trend that extends for 4 km
around the original discovery and which roughly follows the boundary between a
magnetic low centred on the northern lobe of the host intrusive and a flanking
magnetic high suggesting a possible porphyry copper system. Soil samples
appear to define two overlapping geochemical associations with samples that
are enriched in Ag, Pb, Zn, As, and Ba occurring for about a kilometre around
the original discovery cross-cutting a broader, trend, which extends for
several kilometres to the northeast and southwest that is enriched in Cu, Ag,
Au and Mo. Rock samples show a similar zonation, though the values are more
sporadic.
Rock samples exhibit weak propylitic to argillic alteration consistent
with a porphyry copper environment. Analyses of the regional
geological/structural setting indicates that the host pluton(s) were emplaced
along a series of northeast trending crustal transfer faults within a similar
geodynamic/tectonic setting as giant Cu-Mo-Au deposits in South America and
Indonesia.
Samples were prepared at the ALS Chemex Laboratory in Vancouver, BC. Rock
samples were analyzed for gold using the Au-AA24 analytical package and for 33
elements using their ME-ICP61a package. Soil samples were analyzed for Au
using their Au-AA23 package and their ME-MS41 ICPMS package. Additional
details regarding sample preparation and analytical techniques are available
at www.alsglobal.com.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Wallbridge Mining Acquires Large BC Copper Property
TORONTO, March 3 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced that it has optioned a 244 square kilometre property
covering a newly discovered copper-gold occurrence within a large
calc-alkaline, granodiorite intrusion in the Pemberton area of south-western
British Columbia.
Copper staining and mineralization was uncovered by the vendor in several
recently opened outcrops during construction of a logging road in the area.
Two selected grab samples collected by the vendor reportedly returned 1% and
8% copper. The occurrence is up-slope of coincident Cu and Au anomalies in the
regional government stream sediment survey.
Commenting on this latest acquisition Alar Soever, President of
Wallbridge stated, "Although this is a departure from our focus in Sudbury,
the more we looked at this opportunity, the more we realized we could not pass
it by. The similarity with the regional geology which hosts some very large
copper-gold deposits elsewhere around the Pacific Rim is remarkable. As we did
our due diligence it became obvious that there was an opportunity here that
has not been previously recognised. This is a very large property which has
seen very little previous exploration and where our initial reconnaissance
results indicate the presence of a sizable mineralizing system. As Sudbury
remains the primary focus of our efforts, we intend to rapidly advance this
project to the point where it will attract funding from an aggressive Joint
Venture Partner.
During an initial site visit and a subsequent two week reconnaissance
program carried out last fall, 73 rock samples (Table 1), 340 soil samples and
6 stream sediment samples were collected across the property. This work
identified anomalous rock samples containing values up to 1330 ppm Cu, 150 ppm
Mo, and strongly anomalous Pb and Zn in the vicinity of the original showing.
Soil samples contained up to 327 ppm Cu, 773 ppm Pb, and 520 ppm Zn. One soil
sample contained 8.62 ppm Au, others ranged up to 0.15 ppm Au.
Table 1: Geochemistry of rock(*) samples collected near original
discovery.
-------------------------------------------------------------------------
Sample Rock ppm ppm ppm ppm ppm ppm
No. Type Type Cu Mo Ag Au Pb Zn
-------------------------------------------------------------------------
707753 GRDR GRAB 274 1 1 0.02 224 900
707764 sericitized QFP GRAB 33 4 10 0.02 442 753
707782 GRDR GRAB 530 4 3 0.03 1225 909
707813 chloritized basalt GRAB 507 0 0 0.04 4 96
CR 13F GRDR FLOAT 840 10 5 0.01 240 90
CR15 GRDR GRAB 40 10 5 0.01 360 550
CR 15F GRDR FLOAT 1330 150 1 0.01 30 60
CR 15F2 GRDR Breccia FLOAT 1120 10 22 0.18 3110 830
-------------------------------------------------------------------------
(*) GRDR: granodiorite, QFP: quartz-feldspar porphyry
The sampling identified a broad, anomalous trend that extends for 4 km
around the original discovery and which roughly follows the boundary between a
magnetic low centred on the northern lobe of the host intrusive and a flanking
magnetic high suggesting a possible porphyry copper system. Soil samples
appear to define two overlapping geochemical associations with samples that
are enriched in Ag, Pb, Zn, As, and Ba occurring for about a kilometre around
the original discovery cross-cutting a broader, trend, which extends for
several kilometres to the northeast and southwest that is enriched in Cu, Ag,
Au and Mo. Rock samples show a similar zonation, though the values are more
sporadic.
Rock samples exhibit weak propylitic to argillic alteration consistent
with a porphyry copper environment. Analyses of the regional
geological/structural setting indicates that the host pluton(s) were emplaced
along a series of northeast trending crustal transfer faults within a similar
geodynamic/tectonic setting as giant Cu-Mo-Au deposits in South America and
Indonesia.
Samples were prepared at the ALS Chemex Laboratory in Vancouver, BC. Rock
samples were analyzed for gold using the Au-AA24 analytical package and for 33
elements using their ME-ICP61a package. Soil samples were analyzed for Au
using their Au-AA23 package and their ME-MS41 ICPMS package. Additional
details regarding sample preparation and analytical techniques are available
at www.alsglobal.com.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Attention Business Editors:
Wallbridge Mining Announces Closing of Private Placement
TORONTO, March 26 /CNW/ - Wallbridge Mining Company Limited (TSX:WM,
FWB: WC7) (the "Corporation") is pleased to announce that it has completed a
brokered private placement of an aggregate of 9,298,200 units in the capital
of the Corporation (the "Units") placed through the facilities of Raymond
James Ltd., subject to approval of the Toronto Stock Exchange (the "TSX")
(collectively, the "Offering"). 1,298,200 of the Units represent the balance
of the 4,000,000 Unit placement announced by the Corporation on December 19,
2007.
Commenting on the placement, Alar Soever, President of Wallbridge stated,
"This placement greatly reinforces the finances of the Corporation in
turbulent economic times and will allow us the flexibility to greatly
accelerate the pace of work on our Ontario properties".
The Offering raised aggregate proceeds of CAD$3,719,280. The Units were
sold at $0.40 (Canadian) per Unit with each Unit being comprised of one common
share issued as a "flow-through share" as defined in the Income Tax Act
(Canada) (a "Flow-Through Unit Share") and one-half of one common share
purchase warrant (each full common share purchase warrant hereinafter referred
to as a "Warrant"). Each Warrant entitles the holder thereof to purchase one
additional common share of the Corporation (each a "Warrant Share"), such
Warrant Shares to be issued as follows: (i) to the extent such Warrant is
exercised during the first 12 month period from the closing date (the "Closing
Date"), one Warrant share at $0.80 (Canadian) per share, and (ii) to the
extent such Warrant is exercised after the end of the first 12 month period
from the Closing Date and on or before the end of the second 12 month period
from the Closing Date, one Warrant Share at $1.00 (Canadian) per share.
100% of the gross proceeds of the Units sold under the Flow-Through
Offering will be used for Canadian exploration expenses (within the meaning of
the Income Tax Act (Canada)) (the "Tax Act") which qualify as "flow-through
mining expenditures" for purposes of the Tax Act related to the Corporation's
exploration projects in Ontario, Canada. The Corporation will renounce such
Canadian exploration expenses with an effective date of no later than
December 31, 2008.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections.
They are not guarantees of future performance and involve risks and
uncertainties that are difficult to predict and may be beyond
Wallbridge's control. A number of important factors could cause actual
outcomes and results to differ materially from those expressed in
forward-looking statements, including those set forth in other public
filings. In addition, such statements relate to the date on which they
are made. Consequently, undue reliance should not be placed on such
forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as
a result of new information, future events or otherwise, save and except
as may be required by applicable securities laws.
%SEDAR: 00010252E
For further information: please visit the Corporation's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500, Ext. 222, Email:
mstrazdins@wallbridgemining.com
Wallbridge Mining Announces Closing of Private Placement
TORONTO, March 26 /CNW/ - Wallbridge Mining Company Limited (TSX:WM,
FWB: WC7) (the "Corporation") is pleased to announce that it has completed a
brokered private placement of an aggregate of 9,298,200 units in the capital
of the Corporation (the "Units") placed through the facilities of Raymond
James Ltd., subject to approval of the Toronto Stock Exchange (the "TSX")
(collectively, the "Offering"). 1,298,200 of the Units represent the balance
of the 4,000,000 Unit placement announced by the Corporation on December 19,
2007.
Commenting on the placement, Alar Soever, President of Wallbridge stated,
"This placement greatly reinforces the finances of the Corporation in
turbulent economic times and will allow us the flexibility to greatly
accelerate the pace of work on our Ontario properties".
The Offering raised aggregate proceeds of CAD$3,719,280. The Units were
sold at $0.40 (Canadian) per Unit with each Unit being comprised of one common
share issued as a "flow-through share" as defined in the Income Tax Act
(Canada) (a "Flow-Through Unit Share") and one-half of one common share
purchase warrant (each full common share purchase warrant hereinafter referred
to as a "Warrant"). Each Warrant entitles the holder thereof to purchase one
additional common share of the Corporation (each a "Warrant Share"), such
Warrant Shares to be issued as follows: (i) to the extent such Warrant is
exercised during the first 12 month period from the closing date (the "Closing
Date"), one Warrant share at $0.80 (Canadian) per share, and (ii) to the
extent such Warrant is exercised after the end of the first 12 month period
from the Closing Date and on or before the end of the second 12 month period
from the Closing Date, one Warrant Share at $1.00 (Canadian) per share.
100% of the gross proceeds of the Units sold under the Flow-Through
Offering will be used for Canadian exploration expenses (within the meaning of
the Income Tax Act (Canada)) (the "Tax Act") which qualify as "flow-through
mining expenditures" for purposes of the Tax Act related to the Corporation's
exploration projects in Ontario, Canada. The Corporation will renounce such
Canadian exploration expenses with an effective date of no later than
December 31, 2008.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections.
They are not guarantees of future performance and involve risks and
uncertainties that are difficult to predict and may be beyond
Wallbridge's control. A number of important factors could cause actual
outcomes and results to differ materially from those expressed in
forward-looking statements, including those set forth in other public
filings. In addition, such statements relate to the date on which they
are made. Consequently, undue reliance should not be placed on such
forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as
a result of new information, future events or otherwise, save and except
as may be required by applicable securities laws.
%SEDAR: 00010252E
For further information: please visit the Corporation's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500, Ext. 222, Email:
mstrazdins@wallbridgemining.com
Attention Business Editors:
Wallbridge Mining Announces JV with Vale Inco and Xstrata Nickel
TORONTO, March 27 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) today announced that it has executed a joint venture agreement with
global nickel producers Vale Inco Limited and Xstrata Nickel to form a three
way joint venture on a mining claim located adjacent to its Frost Lake
Property in Sudbury, Ontario. The claim is immediately adjacent to the Capre
3000 discovery announced by Vale Inco and Lonmin Plc in January, 2007. The
Capre 3000 discovery is a zone of copper, platinum-palladium-gold (PGE)
mineralization. It is located in an extension of the same rocks, which hosts
Wallbridge's Amy Lake copper-PGE zone which is located 600 metres to the north
on the Frost Lake property.
"This is highly prospective ground in the Sudbury Mining camp as
indicated by the impressive assays released by Vale Inco and Lonmin Plc from
their discovery next door", stated Alar Soever, P. Geo., President of
Wallbridge. "This joint venture between Wallbridge and two of the major
companies in the Sudbury area will bring a lot of knowledge and experience to
our exploration efforts."
Wallbridge will have a 50% interest in the joint venture, with Xstrata
Nickel and Vale Inco each holding a 25% interest. Wallbridge will be the
operator, and the joint venture will be jointly funded by the three partners
pro-rata to their interests.
"We look forward to starting exploration immediately after the formal
agreement is signed", stated Bruce Jago, Vice President Exploration for
Wallbridge. "The discovery of the Capre 3000 zone further validates
Wallbridge's approach to copper and platinum group element exploration in
footwall rocks to the Sudbury Basin and the accumulation of our strategic land
position particularly on the East Range and North Range.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
About Vale Inco Limited
Vale Inco Limited is a leading producer of nickel, copper, cobalt and
precious metals, based in Toronto, Canada. Vale Inco is a wholly-owned
subsidiary of Companhia Vale do Rio Doce (NYSE: RIO), one of the world's
largest mining companies. Vale Inco has more than 12,000 employees worldwide
and had net sales of over US$10 billion in 2007. Vale Inco is committed to the
pursuit of sustainable growth by operating with respect for the natural
environment and being an ethically and socially responsible company.
About Xstrata Nickel
Xstrata Nickel, headquartered in Toronto, Canada, is one of Xstrata
Group's global commodity businesses, comprising five mines and processing
facilities in Ontario and Quebec, Canada; a ferronickel mine and processing
facility in Bonao, Dominican Republic; a high-grade sulphide mine and
processing facility in Western Australia and a refinery in Kristiansand,
Norway. Xstrata Nickel has a significant portfolio of growth projects,
including Koniambo in New Caledonia, Nickel Rim South in Canada, Kabanga in
Tanzania, Araguaia in Brazil and Sinclair in Australia. Xstrata Nickel is the
world's fourth largest nickel producer, with annual managed production of more
than 116,000 tonnes of refined nickel.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited: Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
Wallbridge Mining Announces JV with Vale Inco and Xstrata Nickel
TORONTO, March 27 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) today announced that it has executed a joint venture agreement with
global nickel producers Vale Inco Limited and Xstrata Nickel to form a three
way joint venture on a mining claim located adjacent to its Frost Lake
Property in Sudbury, Ontario. The claim is immediately adjacent to the Capre
3000 discovery announced by Vale Inco and Lonmin Plc in January, 2007. The
Capre 3000 discovery is a zone of copper, platinum-palladium-gold (PGE)
mineralization. It is located in an extension of the same rocks, which hosts
Wallbridge's Amy Lake copper-PGE zone which is located 600 metres to the north
on the Frost Lake property.
"This is highly prospective ground in the Sudbury Mining camp as
indicated by the impressive assays released by Vale Inco and Lonmin Plc from
their discovery next door", stated Alar Soever, P. Geo., President of
Wallbridge. "This joint venture between Wallbridge and two of the major
companies in the Sudbury area will bring a lot of knowledge and experience to
our exploration efforts."
Wallbridge will have a 50% interest in the joint venture, with Xstrata
Nickel and Vale Inco each holding a 25% interest. Wallbridge will be the
operator, and the joint venture will be jointly funded by the three partners
pro-rata to their interests.
"We look forward to starting exploration immediately after the formal
agreement is signed", stated Bruce Jago, Vice President Exploration for
Wallbridge. "The discovery of the Capre 3000 zone further validates
Wallbridge's approach to copper and platinum group element exploration in
footwall rocks to the Sudbury Basin and the accumulation of our strategic land
position particularly on the East Range and North Range.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
About Vale Inco Limited
Vale Inco Limited is a leading producer of nickel, copper, cobalt and
precious metals, based in Toronto, Canada. Vale Inco is a wholly-owned
subsidiary of Companhia Vale do Rio Doce (NYSE: RIO), one of the world's
largest mining companies. Vale Inco has more than 12,000 employees worldwide
and had net sales of over US$10 billion in 2007. Vale Inco is committed to the
pursuit of sustainable growth by operating with respect for the natural
environment and being an ethically and socially responsible company.
About Xstrata Nickel
Xstrata Nickel, headquartered in Toronto, Canada, is one of Xstrata
Group's global commodity businesses, comprising five mines and processing
facilities in Ontario and Quebec, Canada; a ferronickel mine and processing
facility in Bonao, Dominican Republic; a high-grade sulphide mine and
processing facility in Western Australia and a refinery in Kristiansand,
Norway. Xstrata Nickel has a significant portfolio of growth projects,
including Koniambo in New Caledonia, Nickel Rim South in Canada, Kabanga in
Tanzania, Araguaia in Brazil and Sinclair in Australia. Xstrata Nickel is the
world's fourth largest nickel producer, with annual managed production of more
than 116,000 tonnes of refined nickel.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited: Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
Attention Business Editors:
Victory Nickel Acquires 8.4% of Wallbridge Mining
TORONTO, April 1 /CNW/ - Wallbridge Mining Company Limited (TSX: WM,
FWB: WC7) announces that it has been advised by Victory Nickel Inc. ("Victory
Nickel") (TSX:Ni, www.victorynickel.ca), that on March 27, 2008, Victory
Nickel had privately purchased from a third party 7,500,000 units of
Wallbridge Mining Company Limited ("Wallbridge") (TSX:WM, FWB:WC7) (the
"Units"), which Units were comprised of 7,500,000 common shares of Wallbridge
(each, a "Share") and 3,750,000 warrants of Wallbridge (each, a "Warrant").
Each Warrant entitles Victory Nickel to purchase one additional common share
of Wallbridge at a price of $0.80 per share if the Warrant is exercised prior
to March 26, 2009 or $1.00 per share if exercised during the period between
March 26, 2009 and March 26, 2010.
Commenting on the acquisition by Victory Nickel, Alar Soever, President
of Wallbridge stated "We are very pleased to have Victory Nickel as a major
shareholder. Victory Nickel is managed by a well-respected team of experienced
mining executives, and this acquisition is a major vote of confidence in our
exploration efforts in Sudbury and in the potential increase in value of our
investment in Duluth Metals Limited."
Prior to closing the Acquisition, Victory Nickel did not own any
securities in Wallbridge. Therefore, following the Acquisition, Victory Nickel
now owns 7,500,000 Shares, representing approximately 8.4% of the outstanding
Shares, and 3,750,000 Warrants entitling it to purchase an additional
3,750,000 Shares. If Victory Nickel were to exercise all of the Warrants now
held by it, Victory Nickel would own an aggregate of 11,250,000 Shares,
representing approximately 12.2% of the outstanding Shares, calculated on a
partially diluted basis (but not the exercise of any other securities
convertible into Shares held by any other holder).
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
About Victory Nickel
Recently created from the nickel assets of Nuinsco Resources Limited
(TSX:NWI), Victory Nickel Inc. is a growth-oriented Canadian nickel company
with over 660 million pounds in-situ nickel in National Instrument
43-101-compliant measured and indicated resources and an additional
530 million pounds of in-situ nickel in inferred resources at its Minago, Mel
and Lac Rocher sulphide nickel deposits. Victory Nickel is advancing its 100%
owned Minago Project, located 225 kilometres south of Thompson, Manitoba in
the Thompson Nickel Belt, toward production with a definitive feasibility
study well advanced. NI 43-101 measured and indicated resources total
49,000,000 tonnes grading 0.516% nickel (558,000,000 pounds of in-situ
nickel), plus an additional inferred resource of 44,100,000 tonnes grading
0.528% nickel (513,000,000 pounds of in-situ nickel). Victory Nickel is
earning a 100% interest from Vale Inco Ltd. in the Mel Project, located in
northern Manitoba. The near-surface Mel deposit offers near-term production
potential and exploration upside, and hosts 4,279,000 tonnes of NI
43-101-compliant measured and indicated nickel resources grading 0.875% nickel
for 83,000,000 pounds of nickel, and an additional 1,010,000 tonnes grading
0.839% nickel for 19,000,000 pounds of contained nickel. Located in
northwestern Quebec the high-grade Lac Rocher project is a significant
discovery and subsequent drilling has delineated a measured and indicated
nickel resource of 1.2 million tonnes grading 0.93% nickel for an in-situ
total of 25 million pounds of nickel. Victory Nickel is completing a
preliminary economic assessment of Lac Rocher and expects to be in production
towards the end of 2008.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements, whether as a result of new information,
future events or otherwise, save and except as may be require by applicable
securities laws.
%SEDAR: 00010252E
For further information: please visit the company's website at
www.wallbridgemining.com or contact: Alar Soever, President, Tel: (705)
682-9297, Email: asoever@wallbridgemining.com; Mara Strazdins,
Vice-President, Investor Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
Victory Nickel Acquires 8.4% of Wallbridge Mining
TORONTO, April 1 /CNW/ - Wallbridge Mining Company Limited (TSX: WM,
FWB: WC7) announces that it has been advised by Victory Nickel Inc. ("Victory
Nickel") (TSX:Ni, www.victorynickel.ca), that on March 27, 2008, Victory
Nickel had privately purchased from a third party 7,500,000 units of
Wallbridge Mining Company Limited ("Wallbridge") (TSX:WM, FWB:WC7) (the
"Units"), which Units were comprised of 7,500,000 common shares of Wallbridge
(each, a "Share") and 3,750,000 warrants of Wallbridge (each, a "Warrant").
Each Warrant entitles Victory Nickel to purchase one additional common share
of Wallbridge at a price of $0.80 per share if the Warrant is exercised prior
to March 26, 2009 or $1.00 per share if exercised during the period between
March 26, 2009 and March 26, 2010.
Commenting on the acquisition by Victory Nickel, Alar Soever, President
of Wallbridge stated "We are very pleased to have Victory Nickel as a major
shareholder. Victory Nickel is managed by a well-respected team of experienced
mining executives, and this acquisition is a major vote of confidence in our
exploration efforts in Sudbury and in the potential increase in value of our
investment in Duluth Metals Limited."
Prior to closing the Acquisition, Victory Nickel did not own any
securities in Wallbridge. Therefore, following the Acquisition, Victory Nickel
now owns 7,500,000 Shares, representing approximately 8.4% of the outstanding
Shares, and 3,750,000 Warrants entitling it to purchase an additional
3,750,000 Shares. If Victory Nickel were to exercise all of the Warrants now
held by it, Victory Nickel would own an aggregate of 11,250,000 Shares,
representing approximately 12.2% of the outstanding Shares, calculated on a
partially diluted basis (but not the exercise of any other securities
convertible into Shares held by any other holder).
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
About Victory Nickel
Recently created from the nickel assets of Nuinsco Resources Limited
(TSX:NWI), Victory Nickel Inc. is a growth-oriented Canadian nickel company
with over 660 million pounds in-situ nickel in National Instrument
43-101-compliant measured and indicated resources and an additional
530 million pounds of in-situ nickel in inferred resources at its Minago, Mel
and Lac Rocher sulphide nickel deposits. Victory Nickel is advancing its 100%
owned Minago Project, located 225 kilometres south of Thompson, Manitoba in
the Thompson Nickel Belt, toward production with a definitive feasibility
study well advanced. NI 43-101 measured and indicated resources total
49,000,000 tonnes grading 0.516% nickel (558,000,000 pounds of in-situ
nickel), plus an additional inferred resource of 44,100,000 tonnes grading
0.528% nickel (513,000,000 pounds of in-situ nickel). Victory Nickel is
earning a 100% interest from Vale Inco Ltd. in the Mel Project, located in
northern Manitoba. The near-surface Mel deposit offers near-term production
potential and exploration upside, and hosts 4,279,000 tonnes of NI
43-101-compliant measured and indicated nickel resources grading 0.875% nickel
for 83,000,000 pounds of nickel, and an additional 1,010,000 tonnes grading
0.839% nickel for 19,000,000 pounds of contained nickel. Located in
northwestern Quebec the high-grade Lac Rocher project is a significant
discovery and subsequent drilling has delineated a measured and indicated
nickel resource of 1.2 million tonnes grading 0.93% nickel for an in-situ
total of 25 million pounds of nickel. Victory Nickel is completing a
preliminary economic assessment of Lac Rocher and expects to be in production
towards the end of 2008.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements, whether as a result of new information,
future events or otherwise, save and except as may be require by applicable
securities laws.
%SEDAR: 00010252E
For further information: please visit the company's website at
www.wallbridgemining.com or contact: Alar Soever, President, Tel: (705)
682-9297, Email: asoever@wallbridgemining.com; Mara Strazdins,
Vice-President, Investor Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
Attention Business Editors:
Wallbridge Annual General Meeting to be held at Science North, Sudbury
TORONTO, April 22 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) announces that their Annual General Meeting of Shareholders will be held
in the INCO Cavern, Science North, 100 Ramsey Lake Road, Sudbury, Ontario on
Tuesday, April 29th at 4:30 p.m.
The agenda includes a formal meeting followed by presentations given by
management. The presentation will focus on the value generated through
exploration activities by the Company during 2007 on 100% Wallbridge-owned and
Xstrata Nickel, Lonmin Plc and Vale Inco joint venture properties. Updates
will include 2007 focus properties including Frost Lake, Skynner Lake,
Creighton South, Trill, Wisner and Pele. The Company's investment into Duluth
Metals Limited will be highlighted as Wallbridge currently owns 10 million
shares. For those unable to attend in person, a transcript of the remarks and
the accompanying PowerPoint presentation will be posted on the website
following the meeting.
Wallbridge currently has interests in 39 exploration properties covering
in excess of 700 square kilometres of footwall rocks to the Sudbury Igneous
Complex. Wallbridge holds a 100% interest in 20 of the properties. Seven other
properties are part of the Company's Sudbury Camp Joint Venture ("SCJV") with
Lonmin Plc. Another four properties are held in joint venture with Xstrata
Nickel; one property is a joint venture between Wallbridge, Xstrata Nickel and
Vale Inco Limited. The remaining seven properties are held in two joint
ventures with Champion Bear Resources Ltd., one with Pele Mountain Resources
Inc, and one with Crowflight Minerals Inc.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury Basin
hosts the world's largest concentration of nickel deposits and is currently
the most active mining camp in North America. Wallbridge also has a major
shareholding in Duluth Metals Limited, which has a significant property
position in the rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited: Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
Wallbridge Annual General Meeting to be held at Science North, Sudbury
TORONTO, April 22 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) announces that their Annual General Meeting of Shareholders will be held
in the INCO Cavern, Science North, 100 Ramsey Lake Road, Sudbury, Ontario on
Tuesday, April 29th at 4:30 p.m.
The agenda includes a formal meeting followed by presentations given by
management. The presentation will focus on the value generated through
exploration activities by the Company during 2007 on 100% Wallbridge-owned and
Xstrata Nickel, Lonmin Plc and Vale Inco joint venture properties. Updates
will include 2007 focus properties including Frost Lake, Skynner Lake,
Creighton South, Trill, Wisner and Pele. The Company's investment into Duluth
Metals Limited will be highlighted as Wallbridge currently owns 10 million
shares. For those unable to attend in person, a transcript of the remarks and
the accompanying PowerPoint presentation will be posted on the website
following the meeting.
Wallbridge currently has interests in 39 exploration properties covering
in excess of 700 square kilometres of footwall rocks to the Sudbury Igneous
Complex. Wallbridge holds a 100% interest in 20 of the properties. Seven other
properties are part of the Company's Sudbury Camp Joint Venture ("SCJV") with
Lonmin Plc. Another four properties are held in joint venture with Xstrata
Nickel; one property is a joint venture between Wallbridge, Xstrata Nickel and
Vale Inco Limited. The remaining seven properties are held in two joint
ventures with Champion Bear Resources Ltd., one with Pele Mountain Resources
Inc, and one with Crowflight Minerals Inc.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury Basin
hosts the world's largest concentration of nickel deposits and is currently
the most active mining camp in North America. Wallbridge also has a major
shareholding in Duluth Metals Limited, which has a significant property
position in the rapidly emerging Duluth Complex base metal camp in Minnesota.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited: Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
Attention Business Editors:
Wallbridge Announces $2.7 Million Program for Xstrata Nickel JV Properties
TORONTO, April 23 /CNW/ - Wallbridge Mining Company Limited (TSX:WM;
FWB: WC7) today announced that a budget of $2.7 million has been approved for
2008 for work on three properties held in joint venture with the world's
fourth largest refined nickel producer, Xstrata Nickel. The Wisner, Frost Lake
and Graham Joint Venture Properties are located in Sudbury, part of the
largest nickel-copper producing district in the world.
"We are pleased to continue Joint Venture exploration on these
strategically located properties and have a solid partnership with Xstrata
Nickel. The monies allocated will allow us to continue copper-nickel-PGE
exploration on three properties that have previous mineralization
discoveries." stated Alar Soever, President of Wallbridge Mining. "The
majority of the funds will be spent on 6250 metres drilling targets on these
properties."
Frost Lake Property:
A $1.8 million budget has been approved for the Frost Lake property. The
property is strategically located in the footwall on the East Range of the
Sudbury Basin, adjacent to the Capre 3000 Cu-Ni-PGE Zone discovery announced
by the Vale Inco/Lonmin Plc joint venture in January 23, 2007. The 2008
exploration program includes up to 2800 metres of drilling to test the belt of
Sudbury Breccia that hosts an extensive zone of low-sulphide PGE
mineralization discovered by Wallbridge in 2005 called the Amy Lake PGE Zone
(see Press Release dated December 6, 2005). The Amy Lake Zone is in the same
belt of rocks, which hosts the Capre 3000 Discovery Zone located just
600 metres south of Wallbridge's property boundary.
The footwall to the Capre Lake Embayment will be drill tested with a
1200m borehole and surveyed with downhole (BHUTEM) and between hole (RIM)
geophysical surveys. The Capre Lake embayment hosts Vale Inco Limited's Capre
Lake occurrence, a zone of contact-style Ni-Cu-sulphide mineralization, which
lies immediately west of the Capre 3000 Zone, a Cu-Ni-PGE discovery announced
by the Vale Inco/Lonmin Plc joint venture in January 2007. Within the same
area, Wallbridge recently announced a three-way joint venture (see Press
Release dated March 27, 2008) with Vale Inco and Xstrata Nickel that will
explore prospective ground immediately adjacent to the Capre 3000 Zone.
A 20 line kilometre surface electro-magnetic survey will be completed to
guide drilling on the nickel-copper mineralization discovered in 2006 by
Wallbridge (see press release dated April 5, 2006) in an ultramafic body
800 metres north of the Amy Lake PGE Zone.
The Frost Lake Property is a joint venture between Wallbridge and Xstrata
Nickel, with each company holding a 50% interest with Wallbridge as the
Operator.
Wisner Property:
A $0.7 million program has been approved for up to 2250 metres of
drilling to test geophysical Titan 24 DCIP/MT and conventional IP as well as
geological targets on the Wisner property. The Wisner property is located on
the North Range of the Sudbury Basin and covers in excess of nine kilometres
of highly prospective ground in the footwall to the Wisner Embayment.
Mineralization occurs as stringers and irregular pods of Cu-Ni-PGE-rich
sulphides hosted in irregular, altered zones of Sudbury Breccia at the South
and Southwest Area showings (see press release dated May 30, 2006). The
majority of drilling will test deep targets in the area of the Southwest Zone,
which is located approximately 2.3 kilometres west of Wallbridge's Broken
Hammer deposit. Shallow drilling of targets 700 metres southeast and
1.7 kilometres east of the Broken Hammer deposit will test coincident
geophysical and rock geochemical anomalies.
At present Wallbridge has a 73.4% interest in the Wisner joint venture
property, with Xstrata Nickel owning the remaining 26.6% with Wallbridge
continuing as operator.
Graham Property:
The Graham property is located in the South Range of the Sudbury Basin
about 3.2 kilometres south of Vale Inco's Creighton Mine, which has been in
production for over 100 years. The approved $149,000 summer exploration
program will be aimed at developing drill targets in hydrothermally altered
zones of Sudbury Breccia and melt pods similar to those that host large
tonnage Ni-Cu-sulphide bodies at Vale Inco's Frood Stobie Mine complex located
18 kilometres to the east. In addition, a number of airborne electro-magnetic
targets remain to be ground-truthed on the property to the north of Nickel
Hill. Previous recent exploration on the Graham property by Wallbridge
discovered extensive zones of Sudbury Breccia up to 70 metres wide and
1.2 kilometres in strike length and drill-tested deep AMT geophysical targets.
Wallbridge has a 66.8% interest in the Graham joint venture property,
with Xstrata Nickel owning the remaining 33.2%; Wallbridge is operator.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
of 10 million shares in Duluth Metals Limited, which has a significant
property position including the Nokomis Deposit in the rapidly emerging Duluth
Complex base metal camp in Minnesota.
About Xstrata Nickel
Xstrata Nickel, headquartered in Toronto, Canada, is one of Xstrata
Group's global commodity businesses, comprising five mines and processing
facilities in Ontario and Quebec, Canada; a ferronickel mine and processing
facility in Bonao, Dominican Republic; a high-grade sulphide mine and
processing facility in Western Australia and a refinery in Kristiansand,
Norway. Xstrata Nickel has a significant portfolio of growth projects,
including Koniambo in New Caledonia, Nickel Rim South in Canada, Kabanga in
Tanzania, Araguaia in Brazil and Sinclair in Australia. Xstrata Nickel is the
world's fourth largest nickel producer, with annual managed production of more
than 116,000 tonnes of refined nickel.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Wallbridge Announces $2.7 Million Program for Xstrata Nickel JV Properties
TORONTO, April 23 /CNW/ - Wallbridge Mining Company Limited (TSX:WM;
FWB: WC7) today announced that a budget of $2.7 million has been approved for
2008 for work on three properties held in joint venture with the world's
fourth largest refined nickel producer, Xstrata Nickel. The Wisner, Frost Lake
and Graham Joint Venture Properties are located in Sudbury, part of the
largest nickel-copper producing district in the world.
"We are pleased to continue Joint Venture exploration on these
strategically located properties and have a solid partnership with Xstrata
Nickel. The monies allocated will allow us to continue copper-nickel-PGE
exploration on three properties that have previous mineralization
discoveries." stated Alar Soever, President of Wallbridge Mining. "The
majority of the funds will be spent on 6250 metres drilling targets on these
properties."
Frost Lake Property:
A $1.8 million budget has been approved for the Frost Lake property. The
property is strategically located in the footwall on the East Range of the
Sudbury Basin, adjacent to the Capre 3000 Cu-Ni-PGE Zone discovery announced
by the Vale Inco/Lonmin Plc joint venture in January 23, 2007. The 2008
exploration program includes up to 2800 metres of drilling to test the belt of
Sudbury Breccia that hosts an extensive zone of low-sulphide PGE
mineralization discovered by Wallbridge in 2005 called the Amy Lake PGE Zone
(see Press Release dated December 6, 2005). The Amy Lake Zone is in the same
belt of rocks, which hosts the Capre 3000 Discovery Zone located just
600 metres south of Wallbridge's property boundary.
The footwall to the Capre Lake Embayment will be drill tested with a
1200m borehole and surveyed with downhole (BHUTEM) and between hole (RIM)
geophysical surveys. The Capre Lake embayment hosts Vale Inco Limited's Capre
Lake occurrence, a zone of contact-style Ni-Cu-sulphide mineralization, which
lies immediately west of the Capre 3000 Zone, a Cu-Ni-PGE discovery announced
by the Vale Inco/Lonmin Plc joint venture in January 2007. Within the same
area, Wallbridge recently announced a three-way joint venture (see Press
Release dated March 27, 2008) with Vale Inco and Xstrata Nickel that will
explore prospective ground immediately adjacent to the Capre 3000 Zone.
A 20 line kilometre surface electro-magnetic survey will be completed to
guide drilling on the nickel-copper mineralization discovered in 2006 by
Wallbridge (see press release dated April 5, 2006) in an ultramafic body
800 metres north of the Amy Lake PGE Zone.
The Frost Lake Property is a joint venture between Wallbridge and Xstrata
Nickel, with each company holding a 50% interest with Wallbridge as the
Operator.
Wisner Property:
A $0.7 million program has been approved for up to 2250 metres of
drilling to test geophysical Titan 24 DCIP/MT and conventional IP as well as
geological targets on the Wisner property. The Wisner property is located on
the North Range of the Sudbury Basin and covers in excess of nine kilometres
of highly prospective ground in the footwall to the Wisner Embayment.
Mineralization occurs as stringers and irregular pods of Cu-Ni-PGE-rich
sulphides hosted in irregular, altered zones of Sudbury Breccia at the South
and Southwest Area showings (see press release dated May 30, 2006). The
majority of drilling will test deep targets in the area of the Southwest Zone,
which is located approximately 2.3 kilometres west of Wallbridge's Broken
Hammer deposit. Shallow drilling of targets 700 metres southeast and
1.7 kilometres east of the Broken Hammer deposit will test coincident
geophysical and rock geochemical anomalies.
At present Wallbridge has a 73.4% interest in the Wisner joint venture
property, with Xstrata Nickel owning the remaining 26.6% with Wallbridge
continuing as operator.
Graham Property:
The Graham property is located in the South Range of the Sudbury Basin
about 3.2 kilometres south of Vale Inco's Creighton Mine, which has been in
production for over 100 years. The approved $149,000 summer exploration
program will be aimed at developing drill targets in hydrothermally altered
zones of Sudbury Breccia and melt pods similar to those that host large
tonnage Ni-Cu-sulphide bodies at Vale Inco's Frood Stobie Mine complex located
18 kilometres to the east. In addition, a number of airborne electro-magnetic
targets remain to be ground-truthed on the property to the north of Nickel
Hill. Previous recent exploration on the Graham property by Wallbridge
discovered extensive zones of Sudbury Breccia up to 70 metres wide and
1.2 kilometres in strike length and drill-tested deep AMT geophysical targets.
Wallbridge has a 66.8% interest in the Graham joint venture property,
with Xstrata Nickel owning the remaining 33.2%; Wallbridge is operator.
About Wallbridge Mining
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
of 10 million shares in Duluth Metals Limited, which has a significant
property position including the Nokomis Deposit in the rapidly emerging Duluth
Complex base metal camp in Minnesota.
About Xstrata Nickel
Xstrata Nickel, headquartered in Toronto, Canada, is one of Xstrata
Group's global commodity businesses, comprising five mines and processing
facilities in Ontario and Quebec, Canada; a ferronickel mine and processing
facility in Bonao, Dominican Republic; a high-grade sulphide mine and
processing facility in Western Australia and a refinery in Kristiansand,
Norway. Xstrata Nickel has a significant portfolio of growth projects,
including Koniambo in New Caledonia, Nickel Rim South in Canada, Kabanga in
Tanzania, Araguaia in Brazil and Sinclair in Australia. Xstrata Nickel is the
world's fourth largest nickel producer, with annual managed production of more
than 116,000 tonnes of refined nickel.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Attention Business Editors:
Wallbridge and Champion Bear enter into Option and Joint Venture Agreement in respect of Champion Bear's Parkin Property
TORONTO and CALGARY, April 28 /CNW/ - Wallbridge Mining Company Limited
(TSX: WM, FWB: WC7) and Champion Bear Resources Ltd. (TSXV: CBA) are pleased
to announce that they have entered into an option and joint venture agreement
in respect of Champion Bear's Parkin Property, which encompasses approximately
1,200 hectares and covers 6.5 kilometres of strike length along the Parkin
Offset dyke. Under the terms of the agreement, Wallbridge has the right to
acquire a 50% interest in the property by making a $100,000 cash payment to
Champion Bear, issuing Champion Bear 263,158 common shares of Wallbridge and
incurring exploration expenditures on the property in the amount of $2,000,000
on or before April 24, 2010. If Wallbridge exercises its option, a joint
venture will be formed between Wallbridge and Champion Bear whereby each will
hold a 50% interest in the property. Initially, Wallbridge will be the
operator of the joint venture. Wallbridge may then increase its interest in
the property to 75% by completing a definitive feasibility study on a deposit
which is in whole or in part on the property and funding Champion Bear's
portion of development expenditures as a loan against Champion Bear's portion
of the proceeds of production.
After earning pursuant to the agreement with Champion Bear, Wallbridge
will control a total of 9.4 kilometres along the dyke. This is the first time
that this package of claims has been held as a single unit and will enable a
comprehensive exploration program to be carried out. This is particularly
vital for the purpose of carrying out deeper penetrating geophysical surveys
between drill holes. The total property encompasses 2,150 hectares covering
9.4 kilometres of strike length of the dyke and includes:
- Wallbridge's Parkin Property (98.5% Wallbridge, 1.5% Xstrata Nickel),
which hosts the Parkin Resource (43-101 Indicated Resources of
290,928 tons @ 0.70% Cu, 0.65% Ni, 0.03% Co, 0.62 g/t Pt,
0.80 g/t Pd, 0.23 g/t Au and 6.3 g/t Ag; resource calculated in 2002
by A. Soever of Watts, Griffis and McOuat)
- Wallbridge's 100% owned Milnet Property, which hosts the past
producing Milnet Mine (Produced 157,130 tons @ 1.54% Ni, 1.49% Cu,
2.25 g/t Pt, 2.98 g/t and 0.33 g/t Au)
- Wallbridge's Champion Bear JV Property, which hosts the Brady Showing
and several other targets on the Northern Block.
Commenting on the agreement with Champion Bear, Alar Soever, President of
Wallbridge stated, "Offset dykes are very attractive exploration targets in
Sudbury as demonstrated by recently announced mine development projects at
Totten and Copper Cliff. This acquisition will allow the exploration of a
large mineralized section of the Parkin Offset to depth".
"The opportunity to partner with Wallbridge on this highly prospective
property is a very positive milestone for Champion Bear", commented Richard
Kantor, Chairman and President of Champion Bear.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
About Champion Bear
Champion Bear Resources Ltd. is a mineral exploration company focused
exclusively on the historically prospective regions of Ontario. The Company's
primary target is platinum group and precious metals and to a lesser extent
polymetallic base metal and pegmatite-hosted tantalum deposits. Champion
Bear's aim is to create shareholder value through selective property
acquisition and joint venture followed by focused exploration emphasizing
drilling. The Company has assembled a large land position in the Dryden and
Sudbury areas, totalling over 16,000 hectares.
Reader Advisory
Certain information regarding Wallbridge and Champion Bear (the
"Companies") set forth in this joint news release including management's
assessment of the Companies' future plans and operations and the effect of the
option and joint venture agreement on the Companies contain forward-looking
statements that involve substantial known and unknown risks and uncertainties.
These forward-looking statements are subject to numerous risks and
uncertainties, certain of which are beyond the Companies' control including,
without limitation, the impact of general economic conditions, industry
conditions, volatility of commodity prices and the ability to access
sufficient capital from internal and external sources. The Companies' actual
results, performance or achievements may differ materially from those
expressed in, or implied by, these forward-looking statements and,
accordingly, no assurance can be given that any events anticipated by the
forward-looking statements will transpire or occur, or if any of them do so,
what benefits that the Companies will derive therefrom. Additional information
on these and other factors that could affect the Companies' results are
included in reports on file with the Canadian securities regulatory
authorities and may be accessed through the SEDAR website (www.sedar.com) at
Wallbridge's website (www.wallbridgemining.com) or Champion Bear's website
(www.championbear.com). Furthermore, the forward-looking statements contained
in this joint news release are made as at the date of this joint news release
and none of the Companies undertake any obligation to update publicly or to
revise any of the forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required by
applicable securities laws.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this joint news release.
%SEDAR: 00010252E
For further information: Wallbridge: please visit the Company's website at
www.wallbridgemining.com or contact: Alar Soever, President, Tel: (705)
682-9297, Email: asoever@wallbridgemining.com; Mara Strazdins,
Vice-President, Investor Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com; Champion Bear: please visit the Company's
website at www.championbear.com or contact: Richard D. Kantor, Chairman and
President, Tel: (403) 229-9522, Fax: (403) 229-9518
Wallbridge and Champion Bear enter into Option and Joint Venture Agreement in respect of Champion Bear's Parkin Property
TORONTO and CALGARY, April 28 /CNW/ - Wallbridge Mining Company Limited
(TSX: WM, FWB: WC7) and Champion Bear Resources Ltd. (TSXV: CBA) are pleased
to announce that they have entered into an option and joint venture agreement
in respect of Champion Bear's Parkin Property, which encompasses approximately
1,200 hectares and covers 6.5 kilometres of strike length along the Parkin
Offset dyke. Under the terms of the agreement, Wallbridge has the right to
acquire a 50% interest in the property by making a $100,000 cash payment to
Champion Bear, issuing Champion Bear 263,158 common shares of Wallbridge and
incurring exploration expenditures on the property in the amount of $2,000,000
on or before April 24, 2010. If Wallbridge exercises its option, a joint
venture will be formed between Wallbridge and Champion Bear whereby each will
hold a 50% interest in the property. Initially, Wallbridge will be the
operator of the joint venture. Wallbridge may then increase its interest in
the property to 75% by completing a definitive feasibility study on a deposit
which is in whole or in part on the property and funding Champion Bear's
portion of development expenditures as a loan against Champion Bear's portion
of the proceeds of production.
After earning pursuant to the agreement with Champion Bear, Wallbridge
will control a total of 9.4 kilometres along the dyke. This is the first time
that this package of claims has been held as a single unit and will enable a
comprehensive exploration program to be carried out. This is particularly
vital for the purpose of carrying out deeper penetrating geophysical surveys
between drill holes. The total property encompasses 2,150 hectares covering
9.4 kilometres of strike length of the dyke and includes:
- Wallbridge's Parkin Property (98.5% Wallbridge, 1.5% Xstrata Nickel),
which hosts the Parkin Resource (43-101 Indicated Resources of
290,928 tons @ 0.70% Cu, 0.65% Ni, 0.03% Co, 0.62 g/t Pt,
0.80 g/t Pd, 0.23 g/t Au and 6.3 g/t Ag; resource calculated in 2002
by A. Soever of Watts, Griffis and McOuat)
- Wallbridge's 100% owned Milnet Property, which hosts the past
producing Milnet Mine (Produced 157,130 tons @ 1.54% Ni, 1.49% Cu,
2.25 g/t Pt, 2.98 g/t and 0.33 g/t Au)
- Wallbridge's Champion Bear JV Property, which hosts the Brady Showing
and several other targets on the Northern Block.
Commenting on the agreement with Champion Bear, Alar Soever, President of
Wallbridge stated, "Offset dykes are very attractive exploration targets in
Sudbury as demonstrated by recently announced mine development projects at
Totten and Copper Cliff. This acquisition will allow the exploration of a
large mineralized section of the Parkin Offset to depth".
"The opportunity to partner with Wallbridge on this highly prospective
property is a very positive milestone for Champion Bear", commented Richard
Kantor, Chairman and President of Champion Bear.
About Wallbridge
Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position in the
rapidly emerging Duluth Complex base metal camp in Minnesota.
About Champion Bear
Champion Bear Resources Ltd. is a mineral exploration company focused
exclusively on the historically prospective regions of Ontario. The Company's
primary target is platinum group and precious metals and to a lesser extent
polymetallic base metal and pegmatite-hosted tantalum deposits. Champion
Bear's aim is to create shareholder value through selective property
acquisition and joint venture followed by focused exploration emphasizing
drilling. The Company has assembled a large land position in the Dryden and
Sudbury areas, totalling over 16,000 hectares.
Reader Advisory
Certain information regarding Wallbridge and Champion Bear (the
"Companies") set forth in this joint news release including management's
assessment of the Companies' future plans and operations and the effect of the
option and joint venture agreement on the Companies contain forward-looking
statements that involve substantial known and unknown risks and uncertainties.
These forward-looking statements are subject to numerous risks and
uncertainties, certain of which are beyond the Companies' control including,
without limitation, the impact of general economic conditions, industry
conditions, volatility of commodity prices and the ability to access
sufficient capital from internal and external sources. The Companies' actual
results, performance or achievements may differ materially from those
expressed in, or implied by, these forward-looking statements and,
accordingly, no assurance can be given that any events anticipated by the
forward-looking statements will transpire or occur, or if any of them do so,
what benefits that the Companies will derive therefrom. Additional information
on these and other factors that could affect the Companies' results are
included in reports on file with the Canadian securities regulatory
authorities and may be accessed through the SEDAR website (www.sedar.com) at
Wallbridge's website (www.wallbridgemining.com) or Champion Bear's website
(www.championbear.com). Furthermore, the forward-looking statements contained
in this joint news release are made as at the date of this joint news release
and none of the Companies undertake any obligation to update publicly or to
revise any of the forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required by
applicable securities laws.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this joint news release.
%SEDAR: 00010252E
For further information: Wallbridge: please visit the Company's website at
www.wallbridgemining.com or contact: Alar Soever, President, Tel: (705)
682-9297, Email: asoever@wallbridgemining.com; Mara Strazdins,
Vice-President, Investor Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com; Champion Bear: please visit the Company's
website at www.championbear.com or contact: Richard D. Kantor, Chairman and
President, Tel: (403) 229-9522, Fax: (403) 229-9518
Attention Business Editors:
Wallbridge Mining Begins Rogers Creek Copper-Molybdenum-Gold Exploration Program in SW British Columbia
TORONTO, June 10 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) is pleased to announce that the 2008 exploration program has commenced on
their Rogers Creek Copper-Molybdenum-Gold porphyry property located about
40 kilometres south-east of Pemberton, in south-western British Columbia. The
initial phase of the program will consist of about 1,400 line-kilometres of
helicopter-borne magnetic and VLF geophysical surveying, followed by mapping,
prospecting, rock, silt, and heavy mineral concentrate sampling, ground
geophysics and then drilling.
The Rogers Creek property was acquired in February 2008 from a local
prospector following a due diligence period during which limited
reconnaissance sampling of both rock and soil defined a broad, geochemically
anomalous trend that extends for 4 km around the original discovery showing.
As reported in a March 3, 2008 press release, rock samples taken contain
values up to 1330 ppm copper, 150 ppm molybdenum, and strongly anomalous lead
and zinc in the vicinity of the original showing. Soil samples taken contain
up to 327 ppm copper, 773 ppm lead, and 520 ppm zinc and one soil sample
contained 8.62 ppm gold. In April, the property was expanded to the east and
south and now consists of 93 claims covering 420 square kilometres of
favourable geology. The airborne geophysical survey was started in late May
and as of this date, approximately one-third has been completed.
A possible porphyry copper system on the property is indicated by the
geochemical anomaly, which roughly follows the boundary between a magnetic low
centred on the northern lobe of the host intrusive and a flanking magnetic
high. Soil samples appear to define two overlapping geochemical trends, the
first with samples that are enriched in Ag, Pb, Zn, As, and Ba occurring for
about a kilometre around the original discovery cross-cutting a second,
broader trend, which extends for several kilometres to the northeast and
southwest that is enriched in Cu, Ag, Au and Mo. Rock samples show a similar
zonation, though sampling is limited and the values are more sporadic.
Rock samples exhibit weak propylitic to argillic alteration consistent
with a porphyry copper environment. Analyses of the regional
geological/structural setting indicates that the host pluton(s) was emplaced
along one or more northeast-trending crustal transfer faults within a similar
geodynamic/tectonic setting as giant Copper-Molybdenum-Gold deposits in South
America and Indonesia.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited primarily explores for and develops
nickel, copper and platinum group element ("PGE") deposits. The Company's
principal properties are located in the Sudbury Basin in Ontario. The Sudbury
area hosts the world's largest concentration of nickel deposits and is
currently the most active mining camp in North America. Wallbridge also has a
major shareholding in Duluth Metals Limited, which has a significant property
position in the rapidly emerging Duluth Complex base metal camp in Minnesota.
Wallbridge has volcanic-hosted copper-zinc and gold properties in Ontario and
a large porphyry copper-molybdenum-gold property in south-western British
Columbia. Wallbridge is actively seeking joint venture partners for projects
outside of the Sudbury area.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Wallbridge Mining Begins Rogers Creek Copper-Molybdenum-Gold Exploration Program in SW British Columbia
TORONTO, June 10 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) is pleased to announce that the 2008 exploration program has commenced on
their Rogers Creek Copper-Molybdenum-Gold porphyry property located about
40 kilometres south-east of Pemberton, in south-western British Columbia. The
initial phase of the program will consist of about 1,400 line-kilometres of
helicopter-borne magnetic and VLF geophysical surveying, followed by mapping,
prospecting, rock, silt, and heavy mineral concentrate sampling, ground
geophysics and then drilling.
The Rogers Creek property was acquired in February 2008 from a local
prospector following a due diligence period during which limited
reconnaissance sampling of both rock and soil defined a broad, geochemically
anomalous trend that extends for 4 km around the original discovery showing.
As reported in a March 3, 2008 press release, rock samples taken contain
values up to 1330 ppm copper, 150 ppm molybdenum, and strongly anomalous lead
and zinc in the vicinity of the original showing. Soil samples taken contain
up to 327 ppm copper, 773 ppm lead, and 520 ppm zinc and one soil sample
contained 8.62 ppm gold. In April, the property was expanded to the east and
south and now consists of 93 claims covering 420 square kilometres of
favourable geology. The airborne geophysical survey was started in late May
and as of this date, approximately one-third has been completed.
A possible porphyry copper system on the property is indicated by the
geochemical anomaly, which roughly follows the boundary between a magnetic low
centred on the northern lobe of the host intrusive and a flanking magnetic
high. Soil samples appear to define two overlapping geochemical trends, the
first with samples that are enriched in Ag, Pb, Zn, As, and Ba occurring for
about a kilometre around the original discovery cross-cutting a second,
broader trend, which extends for several kilometres to the northeast and
southwest that is enriched in Cu, Ag, Au and Mo. Rock samples show a similar
zonation, though sampling is limited and the values are more sporadic.
Rock samples exhibit weak propylitic to argillic alteration consistent
with a porphyry copper environment. Analyses of the regional
geological/structural setting indicates that the host pluton(s) was emplaced
along one or more northeast-trending crustal transfer faults within a similar
geodynamic/tectonic setting as giant Copper-Molybdenum-Gold deposits in South
America and Indonesia.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited primarily explores for and develops
nickel, copper and platinum group element ("PGE") deposits. The Company's
principal properties are located in the Sudbury Basin in Ontario. The Sudbury
area hosts the world's largest concentration of nickel deposits and is
currently the most active mining camp in North America. Wallbridge also has a
major shareholding in Duluth Metals Limited, which has a significant property
position in the rapidly emerging Duluth Complex base metal camp in Minnesota.
Wallbridge has volcanic-hosted copper-zinc and gold properties in Ontario and
a large porphyry copper-molybdenum-gold property in south-western British
Columbia. Wallbridge is actively seeking joint venture partners for projects
outside of the Sudbury area.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Attention Business Editors:
Wallbridge Mining Initiates 2008 Summer Exploration Program in Sudbury
TORONTO, July 2 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) today announced that its summer exploration program in Sudbury is well
underway with three drills operating and eight mapping and prospecting field
crews mobilised to assess targets on 21 individual properties. The 2008
exploration program includes approximately 10,000 metres of diamond drilling
on 11 properties. The program is a follow-up to previous exploration work
including 1630 line-kilometres of airborne and 130 kilometres of ground
geophysical surveys. Drills are currently operating on the Trill, Wisner and
Capreol JV properties.
A map showing all of Wallbridge's Sudbury Area properties as well as
additional information on the primary properties can be found on our website
at www.wallbridgemining.com under the tab Projects.
Sudbury Camp Joint Venture (SCJV): Platinum Group Elements (PGEs) -
Nickel - Copper
Exploration has started on the six properties comprising Wallbridge's
Sudbury Camp Joint Venture with Lonmin Plc:
Creighton South and Trill Properties - Up to 1700 metres of drilling has
begun targeting Titan IP/MT geophysical anomalies defined during the summer
and fall of 2007.
Foy Property - Up to 700 metres of drilling is planned to test
geophysical and geochemical anomalies on two targets which are: 1) a zone of
geochemically anomalous Sudbury Breccia and partial melting within an 850
metre long IP trend near the southern boundary of the property, and 2) a
northwest-trending structure that is rooted in the Sudbury Igneous Complex
contact at First Nickel's Premier Ridge deposit. The structure hosts multiple
zones of partial melting and high temperature alteration assemblages as
indicated by geochemical sampling and fluid inclusion studies.
Cascaden Property - Up to 1000 metres of drilling is planned to test
Titan IP/MT geophysical anomalies once 3D modelling and ground-truthing of the
anomalies has been completed. The Cascaden property is located in the footwall
of the Windy Lake embayment.
Trill West Property - Exploration will consist of ground-truthing
airborne magnetic anomalies related to major structures parallel to the
Sudbury Igneous Complex contact and trenching a high temperature,
geochemically anomalous zone of Sudbury Breccia discovered in the fall of
2007.
Skynner Lake Property - Wallbridge is currently waiting for the results
of a constrained inversion of Titan IP/MT data on its Skynner Lake property
prior to completing fall drilling plans. Summer work includes completing
targeted mapping and sampling along extensive zones of Sudbury Breccia
discovered in 2005 and 2006.
Xstrata Nickel Joint Venture Properties (FLJV)
Frost Lake Property:
--------------------
The Frost Lake program includes up to 2800 metres of drilling in three
holes to test Wallbridge's Amy Lake PGE Zone at depth. The Amy Lake Zone is in
the same belt of rocks, which hosts the Capre 3000 Zone located just 600
metres south of Wallbridge's Frost Lake property boundary. This discovery was
announced by the Vale Inco - Lonmin Plc joint venture January 2007. In the
same vicinity, the footwall to the Capre Lake Embayment will be drill tested
with a 1200m borehole. The Capre Lake embayment hosts Vale Inco Limited's
Capre Lake occurrence, a zone of contact-style Ni-Cu-sulphide mineralization,
which lies immediately west of the Capre 3000 Zone.
Wisner Property:
----------------
Up to 2250 metres of drilling has begun to test Titan 24 DCIP/MT and
conventional IP anomalies on the Wisner property. Mineralization found to date
on the property occurs as stringers and pods of Cu-Ni-PGE-rich sulphides
hosted in irregular, altered zones of Sudbury Breccia at the South and
Southwest Area showings. The majority of drilling will test deep targets 2.3
kilometres west of Wallbridge's Broken Hammer deposit. Shallow drilling of
targets 700 metres southeast and 1.7 kilometres east of the Broken Hammer
deposit will test coincident geophysical and rock geochemical anomalies.
North Range Properties: Copper-PGEs
Wallbridge's North Range Project was formed in 2006, to assess the
potential for PGE-copper mineralization as indicated from earlier results. The
project includes joint ventures with Pele Mountain Resources Inc., Champion
Bear Resources Ltd. and Crowflight Minerals Inc., as well as the staking of
the Cascaden North, North Range and Trill West properties. This collaborative
effort has expanded Wallbridge's land position in this area and provided the
basis for this multi-property project built on an emerging model for the
structural evolution of the Sudbury Basin. The North Range Project currently
consists of 13 properties covering 35,422 hectares.
A total of $3.9 million is budgeted to the end of 2009 for exploration on
these properties and funded by a private placement by the world's third
largest primary platinum producer, Lonmin Plc (see Wallbridge press release
dated June 28, 2007), which retains a right to enter into a joint venture on
these properties.
North Range Properties - Exploration on several of the North Range
properties commenced early in 2008 with the completion of an 890
line-kilometre airborne electro-magnetic and magnetic survey on Wallbridge's
North Range, Cascaden North and Ermatinger properties and a 9.6 line-kilometre
Titan 24 survey on Wallbridge's Cascaden North property. Summer exploration
work on the Cascaden North Property includes drilling, which is scheduled
after the completion of Titan IP and MT target 3D modelling. Work on the North
Range and Ermatinger Properties includes the compilation of airborne
anomalies, followed by mapping and prospecting and then drill testing in the
fall.
Elsewhere within the North Range Project, field work has commenced on the
Ruza and Daigle properties located in the immediate footwall of the Sudbury
Igneous Complex less than two kilometres north of the town of Levack. On the
Ruza property, beep-mat prospecting has located boulders of massive
pyrrhotite-pyrite-chalcopyrite mineralization of uncertain origin as well as
weak pyrrhotite-pyrite mineralization in rusty-weathering outcrops of Sudbury
Breccia. Mapping and prospecting of both properties will be used to focus deep
penetrating geophysical surveys followed by drilling in the late fall or early
2009.
Pele Property - Exploration in 2007 on the Pele Property extended the
Pele Breccia Belt across the southern third of the property and resulted in
the discovery of weakly anomalous copper, PGE, pathfinder and chlorine
anomalies within extensive areas of Sudbury Breccia. This work provided the
basis for a 110 line-kilometre winter and spring IP survey. Results for the
survey are pending and will be used to direct grid-mapping and prospecting
followed by fall drilling. Mapping and prospecting also will be undertaken on
an extensive logging road network that provides access to the north-western
half of the property.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited primarily explores for and develops
nickel, copper and platinum group element ("PGE") deposits. The Company's
principal properties are located in the Sudbury Basin in Ontario. The Sudbury
area hosts the world's largest concentration of nickel deposits and is
currently the most active mining camp in North America. Wallbridge also has a
major shareholding in Duluth Metals Limited, which has a significant property
position in the rapidly emerging Duluth Complex base metal camp in Minnesota.
Wallbridge has volcanic-hosted copper-zinc and gold properties in Ontario and
a large porphyry copper-molybdenum-gold property in south-western British
Columbia. Wallbridge is actively seeking joint venture partners for projects
outside of the Sudbury area.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
Wallbridge Mining Initiates 2008 Summer Exploration Program in Sudbury
TORONTO, July 2 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) today announced that its summer exploration program in Sudbury is well
underway with three drills operating and eight mapping and prospecting field
crews mobilised to assess targets on 21 individual properties. The 2008
exploration program includes approximately 10,000 metres of diamond drilling
on 11 properties. The program is a follow-up to previous exploration work
including 1630 line-kilometres of airborne and 130 kilometres of ground
geophysical surveys. Drills are currently operating on the Trill, Wisner and
Capreol JV properties.
A map showing all of Wallbridge's Sudbury Area properties as well as
additional information on the primary properties can be found on our website
at www.wallbridgemining.com under the tab Projects.
Sudbury Camp Joint Venture (SCJV): Platinum Group Elements (PGEs) -
Nickel - Copper
Exploration has started on the six properties comprising Wallbridge's
Sudbury Camp Joint Venture with Lonmin Plc:
Creighton South and Trill Properties - Up to 1700 metres of drilling has
begun targeting Titan IP/MT geophysical anomalies defined during the summer
and fall of 2007.
Foy Property - Up to 700 metres of drilling is planned to test
geophysical and geochemical anomalies on two targets which are: 1) a zone of
geochemically anomalous Sudbury Breccia and partial melting within an 850
metre long IP trend near the southern boundary of the property, and 2) a
northwest-trending structure that is rooted in the Sudbury Igneous Complex
contact at First Nickel's Premier Ridge deposit. The structure hosts multiple
zones of partial melting and high temperature alteration assemblages as
indicated by geochemical sampling and fluid inclusion studies.
Cascaden Property - Up to 1000 metres of drilling is planned to test
Titan IP/MT geophysical anomalies once 3D modelling and ground-truthing of the
anomalies has been completed. The Cascaden property is located in the footwall
of the Windy Lake embayment.
Trill West Property - Exploration will consist of ground-truthing
airborne magnetic anomalies related to major structures parallel to the
Sudbury Igneous Complex contact and trenching a high temperature,
geochemically anomalous zone of Sudbury Breccia discovered in the fall of
2007.
Skynner Lake Property - Wallbridge is currently waiting for the results
of a constrained inversion of Titan IP/MT data on its Skynner Lake property
prior to completing fall drilling plans. Summer work includes completing
targeted mapping and sampling along extensive zones of Sudbury Breccia
discovered in 2005 and 2006.
Xstrata Nickel Joint Venture Properties (FLJV)
Frost Lake Property:
--------------------
The Frost Lake program includes up to 2800 metres of drilling in three
holes to test Wallbridge's Amy Lake PGE Zone at depth. The Amy Lake Zone is in
the same belt of rocks, which hosts the Capre 3000 Zone located just 600
metres south of Wallbridge's Frost Lake property boundary. This discovery was
announced by the Vale Inco - Lonmin Plc joint venture January 2007. In the
same vicinity, the footwall to the Capre Lake Embayment will be drill tested
with a 1200m borehole. The Capre Lake embayment hosts Vale Inco Limited's
Capre Lake occurrence, a zone of contact-style Ni-Cu-sulphide mineralization,
which lies immediately west of the Capre 3000 Zone.
Wisner Property:
----------------
Up to 2250 metres of drilling has begun to test Titan 24 DCIP/MT and
conventional IP anomalies on the Wisner property. Mineralization found to date
on the property occurs as stringers and pods of Cu-Ni-PGE-rich sulphides
hosted in irregular, altered zones of Sudbury Breccia at the South and
Southwest Area showings. The majority of drilling will test deep targets 2.3
kilometres west of Wallbridge's Broken Hammer deposit. Shallow drilling of
targets 700 metres southeast and 1.7 kilometres east of the Broken Hammer
deposit will test coincident geophysical and rock geochemical anomalies.
North Range Properties: Copper-PGEs
Wallbridge's North Range Project was formed in 2006, to assess the
potential for PGE-copper mineralization as indicated from earlier results. The
project includes joint ventures with Pele Mountain Resources Inc., Champion
Bear Resources Ltd. and Crowflight Minerals Inc., as well as the staking of
the Cascaden North, North Range and Trill West properties. This collaborative
effort has expanded Wallbridge's land position in this area and provided the
basis for this multi-property project built on an emerging model for the
structural evolution of the Sudbury Basin. The North Range Project currently
consists of 13 properties covering 35,422 hectares.
A total of $3.9 million is budgeted to the end of 2009 for exploration on
these properties and funded by a private placement by the world's third
largest primary platinum producer, Lonmin Plc (see Wallbridge press release
dated June 28, 2007), which retains a right to enter into a joint venture on
these properties.
North Range Properties - Exploration on several of the North Range
properties commenced early in 2008 with the completion of an 890
line-kilometre airborne electro-magnetic and magnetic survey on Wallbridge's
North Range, Cascaden North and Ermatinger properties and a 9.6 line-kilometre
Titan 24 survey on Wallbridge's Cascaden North property. Summer exploration
work on the Cascaden North Property includes drilling, which is scheduled
after the completion of Titan IP and MT target 3D modelling. Work on the North
Range and Ermatinger Properties includes the compilation of airborne
anomalies, followed by mapping and prospecting and then drill testing in the
fall.
Elsewhere within the North Range Project, field work has commenced on the
Ruza and Daigle properties located in the immediate footwall of the Sudbury
Igneous Complex less than two kilometres north of the town of Levack. On the
Ruza property, beep-mat prospecting has located boulders of massive
pyrrhotite-pyrite-chalcopyrite mineralization of uncertain origin as well as
weak pyrrhotite-pyrite mineralization in rusty-weathering outcrops of Sudbury
Breccia. Mapping and prospecting of both properties will be used to focus deep
penetrating geophysical surveys followed by drilling in the late fall or early
2009.
Pele Property - Exploration in 2007 on the Pele Property extended the
Pele Breccia Belt across the southern third of the property and resulted in
the discovery of weakly anomalous copper, PGE, pathfinder and chlorine
anomalies within extensive areas of Sudbury Breccia. This work provided the
basis for a 110 line-kilometre winter and spring IP survey. Results for the
survey are pending and will be used to direct grid-mapping and prospecting
followed by fall drilling. Mapping and prospecting also will be undertaken on
an extensive logging road network that provides access to the north-western
half of the property.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited primarily explores for and develops
nickel, copper and platinum group element ("PGE") deposits. The Company's
principal properties are located in the Sudbury Basin in Ontario. The Sudbury
area hosts the world's largest concentration of nickel deposits and is
currently the most active mining camp in North America. Wallbridge also has a
major shareholding in Duluth Metals Limited, which has a significant property
position in the rapidly emerging Duluth Complex base metal camp in Minnesota.
Wallbridge has volcanic-hosted copper-zinc and gold properties in Ontario and
a large porphyry copper-molybdenum-gold property in south-western British
Columbia. Wallbridge is actively seeking joint venture partners for projects
outside of the Sudbury area.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
Attention Business Editors:
Wallbridge Mining Confirms Presence of Mineralization at Roger's Creek
TORONTO, July 8 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) today announced that initial sampling on its Roger's Creek Property in
British Columbia had confirmed the presence of gold-silver-copper
mineralization in what appears to be a porphyry copper-molybdenum-gold
setting. Values in grab samples of vein material from within several areas of
anomalous soil samples defined by preliminary work late last fall (see
Wallbridge press release March 3, 2008) include 23 grams per tonne gold,
136 grams per tonne silver and 5610 ppm copper in one sample, and 6.45 grams
of gold, 232 grams silver and 6470 ppm copper in a second.
Commenting on these early results, Alar Soever, President of Wallbridge
stated, "While it is important to remember that these are results from a very
few selected grab samples of mineralization, it is very encouraging to be able
to find this kind of gold-silver-copper mineralization associated with what
appears to be a large alteration package within a completely unexplored
intrusion".
Currently, stream sediment sampling, mapping and prospecting are underway
to determine the limits of the mineralization. A 1,434 line-kilometre airborne
magnetic and VLF survey is underway and anticipated to be finished before the
end of July. Eight of 16 rock samples returned anomalous gold values.
The samples also contain anomalous levels of silver, copper and
molybdenum. A complete table of analytical results is shown below.
-------------------------------------------------------------------------
Sample Sample RockType Field Desc Gold Ag Copper Moly Lead Zinc Sulpher
ID Type g/t ppm ppm ppm ppm ppm %
-------------------------------------------------------------------------
6401 Grab Granod- Trace 0.009 0.8 20 3.02 29 111 0.96
iorite dissemin-
ated
pyrite
-------------------------------------------------------------------------
6402 Grab Breccia Strongly 0.171 11.5 78 17.40 147 42 0.05
argillic
altered
breccia
unit
-------------------------------------------------------------------------
6403 Grab Granod- Weak- 0.002 0.2 38 0.54 15 53 less
iorite moderate than
propylitic 0.01
alteration
-------------------------------------------------------------------------
6404 Grab Granod- Weak 0.003 0.2 51 0.66 11 38 0.01
iorite propylytic
alteration
-------------------------------------------------------------------------
6405 Grab Granod- Gossanous 0.018 0.4 86 75.90 23 51 5.56
iorite subcrop
-------------------------------------------------------------------------
6406 Grab Granod- Goss- 0.057 0.2 6 6.99 15 35 0.83
iorite anous;
abundant
pyrite
-------------------------------------------------------------------------
6407 Grab Granod- Propy- 0.006 0.3 59 1.59 24 60 0.01
iorite litic
alteration,
magnetite
along
joints
-------------------------------------------------------------------------
6408 Grab Granod- Gossanous 0.003 5.2 122 3.29 128 230 0.04
iorite subcrop;
malachite
staining
-------------------------------------------------------------------------
6409 Grab Granod- Trace 0.008 1.9 20 0.78 212 238 1.54
iorite dissem-
inated
pyrite
-------------------------------------------------------------------------
6410 Grab Granod- Trace 0.002 1.7 30 1.11 85 234 0.73
iorite dissem-
inated
pyrite
-------------------------------------------------------------------------
6411 Grab Granod- Breccia
iorite unit
with 0.030 77.1 1100 5.39 2220 816 0.52
malachite
staining
-------------------------------------------------------------------------
6412 Grab Granod- Trace 0.003 5.3 98 0.42 166 503 0.50
iorite dissem-
inated
pyrite
-------------------------------------------------------------------------
6413 Grab Granod- Malachite 0.230 37.9 2630 100.00 2210 1565 0.84
iorite -filled
joints
-------------------------------------------------------------------------
-------------------------------------------------------------------------
6414 Grab Granod- Pyrite- 6.460 232.0 6470 24.30 1120 700 great-
iorite chalcopy- er
rite- than
quartz 10.0
vein
-------------------------------------------------------------------------
6415 Grab Granod- Chal- 23.100 136.0 5610 15.80 1450 444 4.01
iorite copy-
rite-
pyrite-
quartz
vein
-------------------------------------------------------------------------
6416 Grab Granod- Minor 0.027 2.0 560 2.56 99 845 0.06
iorite malachite,
traces
chalcopyrite
-------------------------------------------------------------------------
Samples were processed at ALS Chemex Laboratory in Vancouver, BC. Samples
were analyzed for Au by standard lead collection fire assay fusion followed by
a combination of inductively coupled plasma mass spectrometry (ICP-MS) and
atomic emission spectrometry (ICP-AES). Samples are also analyzed for 47 base
metals and trace elements using a four acid (HNO3-HCIO4-HF and HCI) near total
digestion and a combination of ICP-MS and ICP-AES. ICP overlimits are
re-analyzed using sodium peroxide fusion acid dissolution followed by ICP-AES.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited primarily explores for and develops
nickel, copper and platinum group element ("PGE") deposits. The Company's
principal properties are located in the Sudbury Basin in Ontario. The Sudbury
area hosts the world's largest concentration of nickel deposits and is
currently the most active mining camp in North America. Wallbridge also has a
major shareholding in Duluth Metals Limited, which has a significant property
position in the rapidly emerging Duluth Complex base metal camp in Minnesota.
Wallbridge has volcanic-hosted copper-zinc and gold properties in Ontario and
a large porphyry copper-molybdenum-gold property in south-western British
Columbia.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited: Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
Wallbridge Mining Confirms Presence of Mineralization at Roger's Creek
TORONTO, July 8 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) today announced that initial sampling on its Roger's Creek Property in
British Columbia had confirmed the presence of gold-silver-copper
mineralization in what appears to be a porphyry copper-molybdenum-gold
setting. Values in grab samples of vein material from within several areas of
anomalous soil samples defined by preliminary work late last fall (see
Wallbridge press release March 3, 2008) include 23 grams per tonne gold,
136 grams per tonne silver and 5610 ppm copper in one sample, and 6.45 grams
of gold, 232 grams silver and 6470 ppm copper in a second.
Commenting on these early results, Alar Soever, President of Wallbridge
stated, "While it is important to remember that these are results from a very
few selected grab samples of mineralization, it is very encouraging to be able
to find this kind of gold-silver-copper mineralization associated with what
appears to be a large alteration package within a completely unexplored
intrusion".
Currently, stream sediment sampling, mapping and prospecting are underway
to determine the limits of the mineralization. A 1,434 line-kilometre airborne
magnetic and VLF survey is underway and anticipated to be finished before the
end of July. Eight of 16 rock samples returned anomalous gold values.
The samples also contain anomalous levels of silver, copper and
molybdenum. A complete table of analytical results is shown below.
-------------------------------------------------------------------------
Sample Sample RockType Field Desc Gold Ag Copper Moly Lead Zinc Sulpher
ID Type g/t ppm ppm ppm ppm ppm %
-------------------------------------------------------------------------
6401 Grab Granod- Trace 0.009 0.8 20 3.02 29 111 0.96
iorite dissemin-
ated
pyrite
-------------------------------------------------------------------------
6402 Grab Breccia Strongly 0.171 11.5 78 17.40 147 42 0.05
argillic
altered
breccia
unit
-------------------------------------------------------------------------
6403 Grab Granod- Weak- 0.002 0.2 38 0.54 15 53 less
iorite moderate than
propylitic 0.01
alteration
-------------------------------------------------------------------------
6404 Grab Granod- Weak 0.003 0.2 51 0.66 11 38 0.01
iorite propylytic
alteration
-------------------------------------------------------------------------
6405 Grab Granod- Gossanous 0.018 0.4 86 75.90 23 51 5.56
iorite subcrop
-------------------------------------------------------------------------
6406 Grab Granod- Goss- 0.057 0.2 6 6.99 15 35 0.83
iorite anous;
abundant
pyrite
-------------------------------------------------------------------------
6407 Grab Granod- Propy- 0.006 0.3 59 1.59 24 60 0.01
iorite litic
alteration,
magnetite
along
joints
-------------------------------------------------------------------------
6408 Grab Granod- Gossanous 0.003 5.2 122 3.29 128 230 0.04
iorite subcrop;
malachite
staining
-------------------------------------------------------------------------
6409 Grab Granod- Trace 0.008 1.9 20 0.78 212 238 1.54
iorite dissem-
inated
pyrite
-------------------------------------------------------------------------
6410 Grab Granod- Trace 0.002 1.7 30 1.11 85 234 0.73
iorite dissem-
inated
pyrite
-------------------------------------------------------------------------
6411 Grab Granod- Breccia
iorite unit
with 0.030 77.1 1100 5.39 2220 816 0.52
malachite
staining
-------------------------------------------------------------------------
6412 Grab Granod- Trace 0.003 5.3 98 0.42 166 503 0.50
iorite dissem-
inated
pyrite
-------------------------------------------------------------------------
6413 Grab Granod- Malachite 0.230 37.9 2630 100.00 2210 1565 0.84
iorite -filled
joints
-------------------------------------------------------------------------
-------------------------------------------------------------------------
6414 Grab Granod- Pyrite- 6.460 232.0 6470 24.30 1120 700 great-
iorite chalcopy- er
rite- than
quartz 10.0
vein
-------------------------------------------------------------------------
6415 Grab Granod- Chal- 23.100 136.0 5610 15.80 1450 444 4.01
iorite copy-
rite-
pyrite-
quartz
vein
-------------------------------------------------------------------------
6416 Grab Granod- Minor 0.027 2.0 560 2.56 99 845 0.06
iorite malachite,
traces
chalcopyrite
-------------------------------------------------------------------------
Samples were processed at ALS Chemex Laboratory in Vancouver, BC. Samples
were analyzed for Au by standard lead collection fire assay fusion followed by
a combination of inductively coupled plasma mass spectrometry (ICP-MS) and
atomic emission spectrometry (ICP-AES). Samples are also analyzed for 47 base
metals and trace elements using a four acid (HNO3-HCIO4-HF and HCI) near total
digestion and a combination of ICP-MS and ICP-AES. ICP overlimits are
re-analyzed using sodium peroxide fusion acid dissolution followed by ICP-AES.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited primarily explores for and develops
nickel, copper and platinum group element ("PGE") deposits. The Company's
principal properties are located in the Sudbury Basin in Ontario. The Sudbury
area hosts the world's largest concentration of nickel deposits and is
currently the most active mining camp in North America. Wallbridge also has a
major shareholding in Duluth Metals Limited, which has a significant property
position in the rapidly emerging Duluth Complex base metal camp in Minnesota.
Wallbridge has volcanic-hosted copper-zinc and gold properties in Ontario and
a large porphyry copper-molybdenum-gold property in south-western British
Columbia.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited: Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
Attention Business Editors:
Wallbridge Mining to Form $5M Joint Venture with Impala Platinum on Parkin Offset Properties in Sudbury
TORONTO, July 16 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) today announced that it has entered into a letter of intent with Impala
Platinum Holdings Limited ("Impala"), the world's second largest primary
platinum producer on its Parkin Offset Dyke Properties in Sudbury, Ontario.
Under terms of the proposed joint venture Impala will spend $5M over three
years to earn a 50% interest in the properties. Impala can then increase its
interest to 65% by funding a Feasibility Study and securing Wallbridge's
portion of the development funding through to commercial production on a
project loan basis. The Joint Venture is pending finalization of formal
agreements and the necessary South African Reserve Bank approvals.
Commenting on the agreement with Impala, Alar Soever, President of
Wallbridge stated, "Offset dykes are very attractive exploration targets in
Sudbury as demonstrated by recently announced mine development projects at
Totten and Copper Cliff. This acquisition will allow the exploration of a
large mineralized section of the Parkin Offset to depth. We look forward to
initiating an aggressive exploration program as soon as the formal agreement
is finalized."
The Parkin Offset Properties encompass 2,150 hectares covering
9.4 kilometres of strike length of the Parkin Offset dyke and include:
- Wallbridge's Parkin Property (98.5% Wallbridge, 1.5% Xstrata Nickel),
which hosts the Parkin Resource (43-101 Indicated Resources of
290,928 tons @ 0.70% Cu, 0.65% Ni, 0.03% Co, 0.62 g/t Pt, 0.80 g/t
Pd, 0.23 g/t Au and 6.3 g/t Ag; resource calculated in 2002 by A.
Soever of Watts, Griffis and McOuat)
- Wallbridge's 100% owned Milnet Property, which hosts the past
producing Milnet Mine (Reportedly produced 157,130 tons @ 1.54%
Ni, 1.49% Cu, 2.25 g/t Pt, 2.98 g/t and 0.33 g/t Au)
- Wallbridge's Champion Bear JV Property, which hosts the Brady Showing
and several other targets on the Northern Block.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited's primary focus is the exploration for
nickel, copper and platinum group element ("PGE") deposits in the Sudbury area
of Ontario. The Sudbury area hosts the world's largest concentration of nickel
deposits and is currently the most active mining camp in North America. Major
joint venture partners in Sudbury include Vale Inco, Xstrata Nickel, Lonmin
Plc. and Impala Platinum Holdings Limited. Wallbridge also has a major
shareholding in Duluth Metals Limited, which has defined a large
copper-nickel-PGE resource in the rapidly emerging Duluth Complex base metal
camp in Minnesota. Wallbridge is also exploring a large porphyry
copper-molybdenum-gold property in south-western British Columbia and has
interests in copper-zinc and gold properties in northeastern Ontario.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited: Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
Wallbridge Mining to Form $5M Joint Venture with Impala Platinum on Parkin Offset Properties in Sudbury
TORONTO, July 16 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) today announced that it has entered into a letter of intent with Impala
Platinum Holdings Limited ("Impala"), the world's second largest primary
platinum producer on its Parkin Offset Dyke Properties in Sudbury, Ontario.
Under terms of the proposed joint venture Impala will spend $5M over three
years to earn a 50% interest in the properties. Impala can then increase its
interest to 65% by funding a Feasibility Study and securing Wallbridge's
portion of the development funding through to commercial production on a
project loan basis. The Joint Venture is pending finalization of formal
agreements and the necessary South African Reserve Bank approvals.
Commenting on the agreement with Impala, Alar Soever, President of
Wallbridge stated, "Offset dykes are very attractive exploration targets in
Sudbury as demonstrated by recently announced mine development projects at
Totten and Copper Cliff. This acquisition will allow the exploration of a
large mineralized section of the Parkin Offset to depth. We look forward to
initiating an aggressive exploration program as soon as the formal agreement
is finalized."
The Parkin Offset Properties encompass 2,150 hectares covering
9.4 kilometres of strike length of the Parkin Offset dyke and include:
- Wallbridge's Parkin Property (98.5% Wallbridge, 1.5% Xstrata Nickel),
which hosts the Parkin Resource (43-101 Indicated Resources of
290,928 tons @ 0.70% Cu, 0.65% Ni, 0.03% Co, 0.62 g/t Pt, 0.80 g/t
Pd, 0.23 g/t Au and 6.3 g/t Ag; resource calculated in 2002 by A.
Soever of Watts, Griffis and McOuat)
- Wallbridge's 100% owned Milnet Property, which hosts the past
producing Milnet Mine (Reportedly produced 157,130 tons @ 1.54%
Ni, 1.49% Cu, 2.25 g/t Pt, 2.98 g/t and 0.33 g/t Au)
- Wallbridge's Champion Bear JV Property, which hosts the Brady Showing
and several other targets on the Northern Block.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited's primary focus is the exploration for
nickel, copper and platinum group element ("PGE") deposits in the Sudbury area
of Ontario. The Sudbury area hosts the world's largest concentration of nickel
deposits and is currently the most active mining camp in North America. Major
joint venture partners in Sudbury include Vale Inco, Xstrata Nickel, Lonmin
Plc. and Impala Platinum Holdings Limited. Wallbridge also has a major
shareholding in Duluth Metals Limited, which has defined a large
copper-nickel-PGE resource in the rapidly emerging Duluth Complex base metal
camp in Minnesota. Wallbridge is also exploring a large porphyry
copper-molybdenum-gold property in south-western British Columbia and has
interests in copper-zinc and gold properties in northeastern Ontario.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited: Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
Attention Business Editors:
Wallbridge Mining Begins Exploration on Copper-Zinc and Nickel Targets in North-eastern Ontario
TORONTO, July 23 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) is pleased to announce exploration plans for copper-zinc and nickel
targets on two claim groups located in north-eastern Ontario. The copper-zinc
and nickel properties are located within Wallbridge's Shipley and Hong Kong
Township claim groups, approximately 10 kilometres southeast of Sultan, and
about 100 kilometres north-west of Sudbury, Ontario. Both properties lay
within a poorly explored portion of the southern Abitibi Greenstone Belt
described by the Ontario Geological Survey as one of the "largest, best
preserved and most economically productive greenstone belts in the world."
Shipley Township Copper-Zinc Target
Copper-zinc mineralization (2.36% zinc, 0.2% copper, 17 ppm Ag) was found
in outcrop and float in 2006 as a result of prospecting an isolated group of
airborne electro-magnetic (AEM) anomalies along the western boundary of
Shipley Township. The surface showings were associated with a one kilometre
long string of airborne EM conductors within felsic, pyroclastic metavolcanic
rocks in an area with strong, multi-element anomalies in soil, till and lake
sediments. The area has no record of any relevant previous exploration.
Wallbridge has since completed staking 20 additional claims in 2007 and
currently controls a total of 74 claims covering 150 square kilometres.
A 98.5 line-kilometre airborne magnetic and electro-magnetic survey was
completed early in 2008, defining a folded, 4 kilometre long string of
moderate to strong AEM responses with a flanking magnetic association in the
immediate vicinity of the AEM responses related to surface and float
occurrences of copper-zinc mineralization found in 2006. The 2008 exploration
program commenced in late May. Trenching of two, isolated strings of
conductors (KJ and K4 targets) is in progress concurrent with mapping and
prospecting along the anomalous trends. Up to 800 metres of initial diamond
drilling is planned for mid-to-late summer.
Hong Kong Township Nickel Target
Wallbridge's Hong Kong claim group was staked as part of a 50/50 joint
venture with Mountain Lake Resources, which focused on nickel-copper-platinum
group element exploration in the southern portion of the Abitibi Greenstone
Belt in north-eastern Ontario. The property hosts the historic Beith showing
and a small sulphide lens discovered by Wallbridge following the drilling of
an AEM conductor in 2005, which intersected nickel-copper-sulphide
mineralization grading up to 2.02% nickel and 0.91% copper over a core length
of 2.25 metres. Work on the Hong Kong project in 2007 consisted of data
compilation and interpretation and planning for a 226 line kilometre airborne
magnetic and electro-magnetic survey in conjunction with Wallbridge's Shipley
Township survey located immediately to the west.
The recent 2008 airborne survey was designed to target the northwest-ward
and northern extension of high-magnesium to komatiitic basalts that host the
nickel mineralization. A number of similar responses were successfully
identified in the area. The 2008 exploration program will run in tandem with
the Shipley program. Mapping and prospecting of these anomalies are planned,
with up to 200 metres of initial drilling to start later in the year.
Alar Sover, President of Wallbridge commented "The Shipley and Hong Kong
properties are situated in a portion of the Southern Abitibi Greenstone Belt
that has seen very little historical work. The success of our prospecting
results in 2006 indicates the potential for a volcanic-hosted, massive
copper-zinc sulphide deposit on the property and this optimism is supported by
the results of our high-definition airborne magnetic and electro-magnetic
survey that was completed this spring. We eagerly anticipate the results of
our summer mapping, trenching and drilling programs on both properties."
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited primarily explores for and develops
nickel, copper and platinum group element ("PGE") deposits. The Company's
principal properties are located in the Sudbury Basin in Ontario. The Sudbury
area hosts the world's largest concentration of nickel deposits and is
currently the most active mining camp in North America. Wallbridge also has a
major shareholding in Duluth Metals Limited, which has a significant property
position in the rapidly emerging Duluth Complex base metal camp in Minnesota.
Wallbridge has volcanic-hosted copper-zinc and gold properties in Ontario and
a large porphyry copper-molybdenum-gold property in south-western British
Columbia.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Wallbridge Mining Begins Exploration on Copper-Zinc and Nickel Targets in North-eastern Ontario
TORONTO, July 23 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) is pleased to announce exploration plans for copper-zinc and nickel
targets on two claim groups located in north-eastern Ontario. The copper-zinc
and nickel properties are located within Wallbridge's Shipley and Hong Kong
Township claim groups, approximately 10 kilometres southeast of Sultan, and
about 100 kilometres north-west of Sudbury, Ontario. Both properties lay
within a poorly explored portion of the southern Abitibi Greenstone Belt
described by the Ontario Geological Survey as one of the "largest, best
preserved and most economically productive greenstone belts in the world."
Shipley Township Copper-Zinc Target
Copper-zinc mineralization (2.36% zinc, 0.2% copper, 17 ppm Ag) was found
in outcrop and float in 2006 as a result of prospecting an isolated group of
airborne electro-magnetic (AEM) anomalies along the western boundary of
Shipley Township. The surface showings were associated with a one kilometre
long string of airborne EM conductors within felsic, pyroclastic metavolcanic
rocks in an area with strong, multi-element anomalies in soil, till and lake
sediments. The area has no record of any relevant previous exploration.
Wallbridge has since completed staking 20 additional claims in 2007 and
currently controls a total of 74 claims covering 150 square kilometres.
A 98.5 line-kilometre airborne magnetic and electro-magnetic survey was
completed early in 2008, defining a folded, 4 kilometre long string of
moderate to strong AEM responses with a flanking magnetic association in the
immediate vicinity of the AEM responses related to surface and float
occurrences of copper-zinc mineralization found in 2006. The 2008 exploration
program commenced in late May. Trenching of two, isolated strings of
conductors (KJ and K4 targets) is in progress concurrent with mapping and
prospecting along the anomalous trends. Up to 800 metres of initial diamond
drilling is planned for mid-to-late summer.
Hong Kong Township Nickel Target
Wallbridge's Hong Kong claim group was staked as part of a 50/50 joint
venture with Mountain Lake Resources, which focused on nickel-copper-platinum
group element exploration in the southern portion of the Abitibi Greenstone
Belt in north-eastern Ontario. The property hosts the historic Beith showing
and a small sulphide lens discovered by Wallbridge following the drilling of
an AEM conductor in 2005, which intersected nickel-copper-sulphide
mineralization grading up to 2.02% nickel and 0.91% copper over a core length
of 2.25 metres. Work on the Hong Kong project in 2007 consisted of data
compilation and interpretation and planning for a 226 line kilometre airborne
magnetic and electro-magnetic survey in conjunction with Wallbridge's Shipley
Township survey located immediately to the west.
The recent 2008 airborne survey was designed to target the northwest-ward
and northern extension of high-magnesium to komatiitic basalts that host the
nickel mineralization. A number of similar responses were successfully
identified in the area. The 2008 exploration program will run in tandem with
the Shipley program. Mapping and prospecting of these anomalies are planned,
with up to 200 metres of initial drilling to start later in the year.
Alar Sover, President of Wallbridge commented "The Shipley and Hong Kong
properties are situated in a portion of the Southern Abitibi Greenstone Belt
that has seen very little historical work. The success of our prospecting
results in 2006 indicates the potential for a volcanic-hosted, massive
copper-zinc sulphide deposit on the property and this optimism is supported by
the results of our high-definition airborne magnetic and electro-magnetic
survey that was completed this spring. We eagerly anticipate the results of
our summer mapping, trenching and drilling programs on both properties."
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited primarily explores for and develops
nickel, copper and platinum group element ("PGE") deposits. The Company's
principal properties are located in the Sudbury Basin in Ontario. The Sudbury
area hosts the world's largest concentration of nickel deposits and is
currently the most active mining camp in North America. Wallbridge also has a
major shareholding in Duluth Metals Limited, which has a significant property
position in the rapidly emerging Duluth Complex base metal camp in Minnesota.
Wallbridge has volcanic-hosted copper-zinc and gold properties in Ontario and
a large porphyry copper-molybdenum-gold property in south-western British
Columbia.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Wallbridge Mining Announces Closing of Private Placement to Advance BC Property
TORONTO, Aug. 20 /CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB:
WC7) (the "Corporation" and "Wallbridge") is pleased to announce that it has
completed a private placement of an aggregate of 1,300,000 units in the
capital of the Corporation (the "Units"), at $0.27 (Canadian) per Unit,
raising aggregate proceeds of $351,000 (collectively, the "Offering").
Wallbridge will use the funds raised to accelerate the pace of work on its
Rogers Creek porphyry copper-gold project in southwestern BC.
Commenting on the placement, Alar Soever President of Wallbridge stated:
"This placement allows us to expand the work program on the Rogers Creek
porphyry copper-gold property in response to early results which indicate the
presence of sizable alteration zones along with elevated gold and copper
values. While it is too early to be able to fully evaluate the significance of
the early results, this placement will allow us to expand the program to
complete this evaluation. We are pleased to be able to accelerate our work
program at a time when many other companies are curtailing theirs. We will
continue our philosophy of aggressive exploration while tailoring the size of
placements to the immediate needs of our programs, in order to minimize
dilution during this period of relatively low valuations in the junior mining
sector. "
The Offering was placed through the facilities of Raymond James Ltd., and
is subject to final approval of the Toronto Stock Exchange (the "TSX"). The
Units were sold at $0.27 (Canadian) per Unit with each Unit being comprised of
one common share issued as a "flow-through share" as defined in the Income Tax
Act (Canada) (a "Flow-Through Unit Share") and one-half of one non
flow-through common share purchase warrant (each full common share purchase
warrant hereinafter referred to as a "Warrant"). Each Warrant entitles the
holder thereof to purchase one additional common share of the Corporation
(each a "Warrant Share"), such Warrant Shares to be issued as follows: (i) to
the extent such Warrant is exercised during the first 12 month period from the
closing date (the "Closing Date"), one Warrant share at $0.80 (Canadian) per
share, and (ii) to the extent such Warrant is exercised after the end of the
first 12 month period from the Closing Date and on or before the end of the
second 12 month period from the Closing Date, one Warrant Share at
$1.00 (Canadian) per share.
99.9% of the gross proceeds of the Units sold under the Offering will be
used for Canadian exploration expenses (within the meaning of the Income Tax
Act (Canada)) (the "Tax Act") which qualify as "flow-through mining
expenditures" for purposes of the Tax Act related to the Corporation's
exploration projects in British Columbia, Canada. The Corporation will
renounce such Canadian exploration expenses with an effective date of no later
than December 31, 2008.
The Qualified Person responsible for the technical content of this press
release is Alar Soever P.Geo, President of Wallbridge Mining Company Limited.
About Wallbridge Mining Company Limited
Wallbridge Mining Company Limited primarily explores for and develops
nickel, copper and platinum group element ("PGE") deposits. The Company's
principal properties are located in the Sudbury Basin in Ontario. The Sudbury
area hosts the world's largest concentration of nickel deposits and is
currently the most active mining camp in North America. Wallbridge also has a
major shareholding in Duluth Metals Limited, which has a significant property
position in the rapidly emerging Duluth Complex base metal camp in Minnesota.
Wallbridge is also exploring volcanic-hosted copper-zinc and gold properties
in Ontario and a large porphyry copper-molybdenum-gold property in
south-western British Columbia.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Wallbridge website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500, Ext. 222, Email:
mstrazdins@wallbridgemining.com
TORONTO, Aug. 20 /CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB:
WC7) (the "Corporation" and "Wallbridge") is pleased to announce that it has
completed a private placement of an aggregate of 1,300,000 units in the
capital of the Corporation (the "Units"), at $0.27 (Canadian) per Unit,
raising aggregate proceeds of $351,000 (collectively, the "Offering").
Wallbridge will use the funds raised to accelerate the pace of work on its
Rogers Creek porphyry copper-gold project in southwestern BC.
Commenting on the placement, Alar Soever President of Wallbridge stated:
"This placement allows us to expand the work program on the Rogers Creek
porphyry copper-gold property in response to early results which indicate the
presence of sizable alteration zones along with elevated gold and copper
values. While it is too early to be able to fully evaluate the significance of
the early results, this placement will allow us to expand the program to
complete this evaluation. We are pleased to be able to accelerate our work
program at a time when many other companies are curtailing theirs. We will
continue our philosophy of aggressive exploration while tailoring the size of
placements to the immediate needs of our programs, in order to minimize
dilution during this period of relatively low valuations in the junior mining
sector. "
The Offering was placed through the facilities of Raymond James Ltd., and
is subject to final approval of the Toronto Stock Exchange (the "TSX"). The
Units were sold at $0.27 (Canadian) per Unit with each Unit being comprised of
one common share issued as a "flow-through share" as defined in the Income Tax
Act (Canada) (a "Flow-Through Unit Share") and one-half of one non
flow-through common share purchase warrant (each full common share purchase
warrant hereinafter referred to as a "Warrant"). Each Warrant entitles the
holder thereof to purchase one additional common share of the Corporation
(each a "Warrant Share"), such Warrant Shares to be issued as follows: (i) to
the extent such Warrant is exercised during the first 12 month period from the
closing date (the "Closing Date"), one Warrant share at $0.80 (Canadian) per
share, and (ii) to the extent such Warrant is exercised after the end of the
first 12 month period from the Closing Date and on or before the end of the
second 12 month period from the Closing Date, one Warrant Share at
$1.00 (Canadian) per share.
99.9% of the gross proceeds of the Units sold under the Offering will be
used for Canadian exploration expenses (within the meaning of the Income Tax
Act (Canada)) (the "Tax Act") which qualify as "flow-through mining
expenditures" for purposes of the Tax Act related to the Corporation's
exploration projects in British Columbia, Canada. The Corporation will
renounce such Canadian exploration expenses with an effective date of no later
than December 31, 2008.
The Qualified Person responsible for the technical content of this press
release is Alar Soever P.Geo, President of Wallbridge Mining Company Limited.
About Wallbridge Mining Company Limited
Wallbridge Mining Company Limited primarily explores for and develops
nickel, copper and platinum group element ("PGE") deposits. The Company's
principal properties are located in the Sudbury Basin in Ontario. The Sudbury
area hosts the world's largest concentration of nickel deposits and is
currently the most active mining camp in North America. Wallbridge also has a
major shareholding in Duluth Metals Limited, which has a significant property
position in the rapidly emerging Duluth Complex base metal camp in Minnesota.
Wallbridge is also exploring volcanic-hosted copper-zinc and gold properties
in Ontario and a large porphyry copper-molybdenum-gold property in
south-western British Columbia.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Wallbridge website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500, Ext. 222, Email:
mstrazdins@wallbridgemining.com
Wallbridge Mining Signs $5M Joint Venture with Impala Platinum on Parkin Offset Dyke Properties in Sudbury
TORONTO, Aug. 26 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) ("Wallbridge") today announced that it signed a joint venture agreement
with Impala Platinum Holdings Limited ("Impala"), the world's second largest
primary platinum producer, on its Parkin Offset Dyke Properties in Sudbury,
Ontario.
Under the terms of the joint venture agreement, Impala will spend $5M
over three years to earn a 50% interest in the properties. Impala can then
increase its interest to 65% by funding a Feasibility Study and securing
Wallbridge's portion of the development funding through to commercial
production on a project loan basis. The joint venture agreement is still
subject to the necessary South African Reserve Bank approvals.
Commenting on the agreement with Impala, Alar Soever, President of
Wallbridge, stated: "This agreement provides the funding necessary to
aggressively explore this very attractive property package during an
under-valued junior mining market. It is in keeping with our strategy of
funding an aggressive exploration program, while minimizing dilution to our
existing shareholders. We look forward to initiating a drilling program in the
near future."
Offset dykes are very attractive exploration targets in Sudbury as
demonstrated by recently announced mine development projects at Totten and
Copper Cliff by Vale Inco.
The Parkin Offset Dyke Properties encompass 2,150 hectares covering
9.4 kilometres of strike length of the Parkin Offset Dyke and include:
- Wallbridge's Parkin Property (98.5% Wallbridge, 1.5% Xstrata Nickel),
which hosts the Parkin Resource (43-101 Indicated Resources of
290,928 tons @ 0.70% Cu, 0.65% Ni, 0.03% Co, 0.62 g/t Pt,
0.80 g/t Pd, 0.23 g/t Au and 6.3 g/t Ag; resource calculated in 2002
by A. Soever of Watts, Griffis and McOuat)
- Wallbridge's 100% owned Milnet Property, which hosts the past
producing Milnet Mine (Reportedly produced 157,130 tons @
1.54% Ni, 1.49% Cu, 2.25 g/t Pt, 2.98 g/t and 0.33 g/t Au)
- Wallbridge's Champion Bear JV Property, which hosts the Brady Showing
and several other targets on the Northern Block
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining Company Limited
Wallbridge Mining Company Limited's primary focus is the exploration of
nickel, copper and platinum group element ("PGE") deposits in the Sudbury area
of Ontario. The Sudbury area hosts the world's largest concentration of nickel
deposits and is currently the most active mining camp in North America. Major
joint venture partners in Sudbury include Vale Inco, Xstrata Nickel,
Lonmin Plc. and Impala Platinum Holdings Limited. Wallbridge also has a major
shareholding in Duluth Metals Limited, which has defined a large
copper-nickel-PGE resource in the rapidly emerging Duluth Complex base metal
camp in Minnesota. Wallbridge is also exploring a large porphyry
copper-gold-molybdenum property in south-western British Columbia and has
interests in copper-zinc and gold properties in northeastern Ontario.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
TORONTO, Aug. 26 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) ("Wallbridge") today announced that it signed a joint venture agreement
with Impala Platinum Holdings Limited ("Impala"), the world's second largest
primary platinum producer, on its Parkin Offset Dyke Properties in Sudbury,
Ontario.
Under the terms of the joint venture agreement, Impala will spend $5M
over three years to earn a 50% interest in the properties. Impala can then
increase its interest to 65% by funding a Feasibility Study and securing
Wallbridge's portion of the development funding through to commercial
production on a project loan basis. The joint venture agreement is still
subject to the necessary South African Reserve Bank approvals.
Commenting on the agreement with Impala, Alar Soever, President of
Wallbridge, stated: "This agreement provides the funding necessary to
aggressively explore this very attractive property package during an
under-valued junior mining market. It is in keeping with our strategy of
funding an aggressive exploration program, while minimizing dilution to our
existing shareholders. We look forward to initiating a drilling program in the
near future."
Offset dykes are very attractive exploration targets in Sudbury as
demonstrated by recently announced mine development projects at Totten and
Copper Cliff by Vale Inco.
The Parkin Offset Dyke Properties encompass 2,150 hectares covering
9.4 kilometres of strike length of the Parkin Offset Dyke and include:
- Wallbridge's Parkin Property (98.5% Wallbridge, 1.5% Xstrata Nickel),
which hosts the Parkin Resource (43-101 Indicated Resources of
290,928 tons @ 0.70% Cu, 0.65% Ni, 0.03% Co, 0.62 g/t Pt,
0.80 g/t Pd, 0.23 g/t Au and 6.3 g/t Ag; resource calculated in 2002
by A. Soever of Watts, Griffis and McOuat)
- Wallbridge's 100% owned Milnet Property, which hosts the past
producing Milnet Mine (Reportedly produced 157,130 tons @
1.54% Ni, 1.49% Cu, 2.25 g/t Pt, 2.98 g/t and 0.33 g/t Au)
- Wallbridge's Champion Bear JV Property, which hosts the Brady Showing
and several other targets on the Northern Block
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining Company Limited
Wallbridge Mining Company Limited's primary focus is the exploration of
nickel, copper and platinum group element ("PGE") deposits in the Sudbury area
of Ontario. The Sudbury area hosts the world's largest concentration of nickel
deposits and is currently the most active mining camp in North America. Major
joint venture partners in Sudbury include Vale Inco, Xstrata Nickel,
Lonmin Plc. and Impala Platinum Holdings Limited. Wallbridge also has a major
shareholding in Duluth Metals Limited, which has defined a large
copper-nickel-PGE resource in the rapidly emerging Duluth Complex base metal
camp in Minnesota. Wallbridge is also exploring a large porphyry
copper-gold-molybdenum property in south-western British Columbia and has
interests in copper-zinc and gold properties in northeastern Ontario.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
Wallbridge Mining Announces Closing of Second Tranche of Private Placement
TORONTO, Sept. 2 /CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB:
WC7) (the "Corporation") is pleased to announce that it has completed a second
tranche of a non-brokered private placement of an aggregate of 1,800,000 units
in the capital of the Corporation (the "Units") at $0.27 (Canadian) per Unit
raising aggregate proceeds of $486,000 (collectively, the "Offering"). The
Corporation will use approximately 30% of the funds raised to accelerate the
pace of work on its Rogers Creek porphyry copper-gold project in southwestern
BC and approximately 70% of the funds raised on its Ontario projects.
Commenting on the placement Alar Soever, President of Wallbridge stated,
"This placement is in keeping with our philosophy of advancing our projects,
while tailoring the size of placements to the immediate needs of our programs,
in order to minimize dilution during this period of relatively low valuations
in the junior mining sector."
The Offering is subject to final approval of the Toronto Stock Exchange
(the "TSX"). The Units were sold at $0.27 (Canadian) per Unit with each Unit
being comprised of one common share issued as a "flow-through share" as
defined in the Income Tax Act (Canada) (a "Flow-Through Unit Share") and
one-half of one non flow-through common share purchase warrant (each full
common share purchase warrant hereinafter referred to as a "Warrant"). Each
Warrant entitles the holder thereof to purchase one additional common share of
the Corporation (each a "Warrant Share"), such Warrant Shares to be issued as
follows: (i) to the extent such Warrant is exercised during the first 12 month
period from the closing date (the "Closing Date"), one Warrant share at $0.80
(Canadian) per share, and (ii) to the extent such Warrant is exercised after
the end of the first 12 month period from the Closing Date and on or before
the end of the second 12 month period from the Closing Date, one Warrant Share
at $1.00 (Canadian) per share.
99.9% of the gross proceeds of the Units sold under the Offering will be
used for Canadian exploration expenses (within the meaning of the Income Tax
Act (Canada)) (the "Tax Act") which qualify as "flow-through mining
expenditures" for purposes of the Tax Act related to the Corporation's
exploration projects in British Columbia, Canada. The Corporation will
renounce such Canadian exploration expenses with an effective date of no later
than December 31, 2008.
The Qualified Person responsible for the technical content of this press
release is Alar Soever P.Geo, President of Wallbridge Mining Company Limited.
About Wallbridge Mining Company Limited
Wallbridge Mining Company Limited primarily explores for and develops
nickel, copper and platinum group element ("PGE") deposits. The Company's
principal properties are located in the Sudbury Basin in Ontario. The Sudbury
area hosts the world's largest concentration of nickel deposits and is
currently the most active mining camp in North America. Wallbridge also has a
major shareholding in Duluth Metals Limited, which has a significant property
position in the rapidly emerging Duluth Complex base metal camp in Minnesota.
Wallbridge is also exploring volcanic-hosted copper-zinc and gold properties
in Ontario and a large porphyry copper-molybdenum-gold property in
south-western British Columbia.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Wallbridge website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500, Ext. 222, Email:
mstrazdins@wallbridgemining.com
TORONTO, Sept. 2 /CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB:
WC7) (the "Corporation") is pleased to announce that it has completed a second
tranche of a non-brokered private placement of an aggregate of 1,800,000 units
in the capital of the Corporation (the "Units") at $0.27 (Canadian) per Unit
raising aggregate proceeds of $486,000 (collectively, the "Offering"). The
Corporation will use approximately 30% of the funds raised to accelerate the
pace of work on its Rogers Creek porphyry copper-gold project in southwestern
BC and approximately 70% of the funds raised on its Ontario projects.
Commenting on the placement Alar Soever, President of Wallbridge stated,
"This placement is in keeping with our philosophy of advancing our projects,
while tailoring the size of placements to the immediate needs of our programs,
in order to minimize dilution during this period of relatively low valuations
in the junior mining sector."
The Offering is subject to final approval of the Toronto Stock Exchange
(the "TSX"). The Units were sold at $0.27 (Canadian) per Unit with each Unit
being comprised of one common share issued as a "flow-through share" as
defined in the Income Tax Act (Canada) (a "Flow-Through Unit Share") and
one-half of one non flow-through common share purchase warrant (each full
common share purchase warrant hereinafter referred to as a "Warrant"). Each
Warrant entitles the holder thereof to purchase one additional common share of
the Corporation (each a "Warrant Share"), such Warrant Shares to be issued as
follows: (i) to the extent such Warrant is exercised during the first 12 month
period from the closing date (the "Closing Date"), one Warrant share at $0.80
(Canadian) per share, and (ii) to the extent such Warrant is exercised after
the end of the first 12 month period from the Closing Date and on or before
the end of the second 12 month period from the Closing Date, one Warrant Share
at $1.00 (Canadian) per share.
99.9% of the gross proceeds of the Units sold under the Offering will be
used for Canadian exploration expenses (within the meaning of the Income Tax
Act (Canada)) (the "Tax Act") which qualify as "flow-through mining
expenditures" for purposes of the Tax Act related to the Corporation's
exploration projects in British Columbia, Canada. The Corporation will
renounce such Canadian exploration expenses with an effective date of no later
than December 31, 2008.
The Qualified Person responsible for the technical content of this press
release is Alar Soever P.Geo, President of Wallbridge Mining Company Limited.
About Wallbridge Mining Company Limited
Wallbridge Mining Company Limited primarily explores for and develops
nickel, copper and platinum group element ("PGE") deposits. The Company's
principal properties are located in the Sudbury Basin in Ontario. The Sudbury
area hosts the world's largest concentration of nickel deposits and is
currently the most active mining camp in North America. Wallbridge also has a
major shareholding in Duluth Metals Limited, which has a significant property
position in the rapidly emerging Duluth Complex base metal camp in Minnesota.
Wallbridge is also exploring volcanic-hosted copper-zinc and gold properties
in Ontario and a large porphyry copper-molybdenum-gold property in
south-western British Columbia.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Wallbridge website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500, Ext. 222, Email:
mstrazdins@wallbridgemining.com
Wallbridge Mining Vends Kirkland Lake Gold Properties to Tanqueray
TORONTO, Sept. 9 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) is pleased to announce that it has entered into a joint venture agreement
with Tanqueray Resources Ltd. (TQY-TSX-V) whereby Tanqueray may earn a 50%
interest in Wallbridge's gold properties in the Kirkland Lake gold camp. The
properties include the Mesima Lake and the Verna Lake Claims located 36
kilometres northeast of Kirkland Lake and 10 km north of Highway 101.
Wallbridge will also work with Tanqueray to acquire other properties of
interest identified by Wallbridge for the benefit of the joint venture.
Commenting on the transaction Alar Soever, President of Wallbridge
stated, "This agreement will see significant exploration dollars spent on
these very attractive properties, while allowing Wallbridge to focus on our
core Sudbury area properties. It is in keeping with our philosophy of pursuing
an aggressive exploration strategy, while minimizing dilution."
Tanqueray will be the operator of the joint venture, while Wallbridge
will provide exploration services to the joint venture on a contract basis as
required.
The Mesima Lake Claims consist of 19 claims totaling 3,136 hectares. This
property is north of and contiguous with Queenston Mining's gold discovery in
the Upper Beaver Syenite Zone. A recent high resolution airborne magnetic and
VLF survey completed by Wallbridge in 2008 highlighted a 4 km long magnetic
feature that has similar geology to Queenston's gold discovery. Recent surface
sampling of strongly altered syenite within this feature returned 128 g/t Au.
The Verna Lake Claims consist of 7 claims totaling 1,168 hectares.
Previous shallow exploration by Wallbridge identified high-grade gold
intersections, including 121.7 g/t Au over 1.22 meters, and longer anomalous
intervals including 41.61 meters averaging 0.373 g/t Au. This property also
was recently flown using a high-resolution magnetic and VLF system.
Under the terms of the agreement, Tanqueray may earn a 50% interest in
these properties by spending $3,000,000 in work commitments, and $1 million in
cash payments and/or Tanqueray Shares, over a three year period. Tanqueray may
increase its interest to 70% by spending an additional $3 million in work
commitments and $0.75 million in cash and/or Tanqueray Shares. The work
commitment can be applied to any or all of the properties at Tanqueray's
discretion.
The agreement is subject to the necessary regulatory approvals.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining Company Limited
Wallbridge Mining Company Limited primarily explores for and develops
nickel, copper and platinum group element ("PGE") deposits. The Company's
principal properties are located in the Sudbury Basin in Ontario. The Sudbury
area hosts the world's largest concentration of nickel deposits and is
currently the most active mining camp in North America. Wallbridge also has a
major shareholding in Duluth Metals Limited, which has a significant property
position in the rapidly emerging Duluth Complex base metal camp in Minnesota.
Wallbridge is also exploring volcanic-hosted copper-zinc and gold properties
in Ontario and a large porphyry copper-molybdenum-gold property in
south-western British Columbia.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Wallbridge website at
www.wallbridgemining.com, or contact; Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500, Ext. 222, Email:
mstrazdins@wallbridgemining.com
TORONTO, Sept. 9 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) is pleased to announce that it has entered into a joint venture agreement
with Tanqueray Resources Ltd. (TQY-TSX-V) whereby Tanqueray may earn a 50%
interest in Wallbridge's gold properties in the Kirkland Lake gold camp. The
properties include the Mesima Lake and the Verna Lake Claims located 36
kilometres northeast of Kirkland Lake and 10 km north of Highway 101.
Wallbridge will also work with Tanqueray to acquire other properties of
interest identified by Wallbridge for the benefit of the joint venture.
Commenting on the transaction Alar Soever, President of Wallbridge
stated, "This agreement will see significant exploration dollars spent on
these very attractive properties, while allowing Wallbridge to focus on our
core Sudbury area properties. It is in keeping with our philosophy of pursuing
an aggressive exploration strategy, while minimizing dilution."
Tanqueray will be the operator of the joint venture, while Wallbridge
will provide exploration services to the joint venture on a contract basis as
required.
The Mesima Lake Claims consist of 19 claims totaling 3,136 hectares. This
property is north of and contiguous with Queenston Mining's gold discovery in
the Upper Beaver Syenite Zone. A recent high resolution airborne magnetic and
VLF survey completed by Wallbridge in 2008 highlighted a 4 km long magnetic
feature that has similar geology to Queenston's gold discovery. Recent surface
sampling of strongly altered syenite within this feature returned 128 g/t Au.
The Verna Lake Claims consist of 7 claims totaling 1,168 hectares.
Previous shallow exploration by Wallbridge identified high-grade gold
intersections, including 121.7 g/t Au over 1.22 meters, and longer anomalous
intervals including 41.61 meters averaging 0.373 g/t Au. This property also
was recently flown using a high-resolution magnetic and VLF system.
Under the terms of the agreement, Tanqueray may earn a 50% interest in
these properties by spending $3,000,000 in work commitments, and $1 million in
cash payments and/or Tanqueray Shares, over a three year period. Tanqueray may
increase its interest to 70% by spending an additional $3 million in work
commitments and $0.75 million in cash and/or Tanqueray Shares. The work
commitment can be applied to any or all of the properties at Tanqueray's
discretion.
The agreement is subject to the necessary regulatory approvals.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining Company Limited
Wallbridge Mining Company Limited primarily explores for and develops
nickel, copper and platinum group element ("PGE") deposits. The Company's
principal properties are located in the Sudbury Basin in Ontario. The Sudbury
area hosts the world's largest concentration of nickel deposits and is
currently the most active mining camp in North America. Wallbridge also has a
major shareholding in Duluth Metals Limited, which has a significant property
position in the rapidly emerging Duluth Complex base metal camp in Minnesota.
Wallbridge is also exploring volcanic-hosted copper-zinc and gold properties
in Ontario and a large porphyry copper-molybdenum-gold property in
south-western British Columbia.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Wallbridge website at
www.wallbridgemining.com, or contact; Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500, Ext. 222, Email:
mstrazdins@wallbridgemining.com
Wallbridge Mining Discovers Porphyry Gold-Copper Mineralization on BC Property
TORONTO, Sept. 12 /CNW/ - Wallbridge Mining Company Limited (TSX: WM,
FWB: WC7) has discovered mineralization within three target areas on their
Rogers Creek copper-gold-molybdenum property, in south-western British
Columbia approximately 40 kilometres south of Pemberton. The first two targets
are defined within a 6 by 2 kilometre area of alteration and gold-copper
mineralization with samples in quartz-sulphide veins returning up to
23.1 grams per tonne gold and 232 grams per tonne silver. The third target is
defined by silt samples returning highly anomalous gold and silver values up
to 2.3 grams per tonne gold and 436 ppb silver. The style of mineralization
and alteration is consistent with a porphyry copper-gold-molybdenum system. A
map can be viewed under Press Releases on our website www.wallbridgemining.com
The Rogers Creek property was acquired in February 2008 from a local
prospector (see press release dated March 3, 2008). It comprises 93 claims
covering 420 square kilometres of favourable geology. The summer 2008 work
program consisted of 1434.6 line kilometres of high resolution
helicopter-borne magnetic and VLF surveying, silt (149), soil (307) and rock
(446) sampling, and mapping and prospecting. The property is located in an
easily accessible area with excellent infrastructure including a major power
line along the western edge of the property.
Targets 1 and 2
Airborne magnetic surveying and soil, silt and rock samples anomalous in
copper, gold and silver have defined two large zones of alteration and
associated gold-copper mineralization within a 6 kilometre by 2 kilometre
area. Both these zones are centred on two circular to elongate magnetic lows
about 2 kilometres in diameter, which closely correspond to outcrops of highly
altered, intrusive breccias. Anomalous silt samples in streams draining
Targets 1 and 2 contain up to 800 ppb gold, 835 ppb silver and 73 ppm copper
versus background values of approximately 2.5 ppb gold, 20 ppb silver and 15
ppm copper. Quartz-sulphide veins contain gold and silver values up to 23.1
gram per tonne gold, 232 grams per tonne silver, 0.69% copper and 81.4 ppm
molybdenum. The style and distribution of alteration and mineralization
associated with Targets 1 and 2 are consistent with a porphyry
copper-gold-molybdenum environment.
Target 3
Target 3 is located approximately 4 kilometres to the southwest of
Target 2. It was defined by stream sediment samples containing highly
anomalous values in gold and silver, quartz-pyrite stockworks exposed along
road cuts, and talus boulders of a highly clay-altered intrusive breccia.
Anomalous silt samples in streams draining Target 3 contain up to 2.3 grams
per tonne gold and 436 ppb silver versus background values of 2.5 ppb gold and
20 ppb silver. Limited rock sampling returned values up to 0.4 g/t gold and
436 ppm copper. Target 3 appears to represent a moderate to high level
epithermal vein system consistent with the porphyry copper-gold-molybdenum
environment at Targets 1 and 2.
A 38 line-kilometre IP survey is planned for October with line cutting to
begin by mid-September. The timing of the IP survey will coincide with a
second stage of mapping and prospecting and be followed by a limited program
of diamond drilling if weather permits.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited's primary focus is the exploration of
nickel, copper and platinum group element ("PGE") deposits in the Sudbury area
of Ontario. The Sudbury area hosts the world's largest concentration of nickel
deposits and is currently the most active mining camp in North America. Major
joint venture partners in Sudbury include Vale Inco, Xstrata Nickel, Lonmin
Plc and Impala Platinum Holdings Limited. Wallbridge also has a major
shareholding in Duluth Metals Limited, which has defined a large
copper-nickel-PGE resource in the rapidly emerging Duluth Complex base metal
camp in Minnesota. Wallbridge is also exploring a large porphyry
copper-gold-molybdenum property in south-western British Columbia and has
interests in copper-zinc and gold properties in northeastern Ontario.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
TORONTO, Sept. 12 /CNW/ - Wallbridge Mining Company Limited (TSX: WM,
FWB: WC7) has discovered mineralization within three target areas on their
Rogers Creek copper-gold-molybdenum property, in south-western British
Columbia approximately 40 kilometres south of Pemberton. The first two targets
are defined within a 6 by 2 kilometre area of alteration and gold-copper
mineralization with samples in quartz-sulphide veins returning up to
23.1 grams per tonne gold and 232 grams per tonne silver. The third target is
defined by silt samples returning highly anomalous gold and silver values up
to 2.3 grams per tonne gold and 436 ppb silver. The style of mineralization
and alteration is consistent with a porphyry copper-gold-molybdenum system. A
map can be viewed under Press Releases on our website www.wallbridgemining.com
The Rogers Creek property was acquired in February 2008 from a local
prospector (see press release dated March 3, 2008). It comprises 93 claims
covering 420 square kilometres of favourable geology. The summer 2008 work
program consisted of 1434.6 line kilometres of high resolution
helicopter-borne magnetic and VLF surveying, silt (149), soil (307) and rock
(446) sampling, and mapping and prospecting. The property is located in an
easily accessible area with excellent infrastructure including a major power
line along the western edge of the property.
Targets 1 and 2
Airborne magnetic surveying and soil, silt and rock samples anomalous in
copper, gold and silver have defined two large zones of alteration and
associated gold-copper mineralization within a 6 kilometre by 2 kilometre
area. Both these zones are centred on two circular to elongate magnetic lows
about 2 kilometres in diameter, which closely correspond to outcrops of highly
altered, intrusive breccias. Anomalous silt samples in streams draining
Targets 1 and 2 contain up to 800 ppb gold, 835 ppb silver and 73 ppm copper
versus background values of approximately 2.5 ppb gold, 20 ppb silver and 15
ppm copper. Quartz-sulphide veins contain gold and silver values up to 23.1
gram per tonne gold, 232 grams per tonne silver, 0.69% copper and 81.4 ppm
molybdenum. The style and distribution of alteration and mineralization
associated with Targets 1 and 2 are consistent with a porphyry
copper-gold-molybdenum environment.
Target 3
Target 3 is located approximately 4 kilometres to the southwest of
Target 2. It was defined by stream sediment samples containing highly
anomalous values in gold and silver, quartz-pyrite stockworks exposed along
road cuts, and talus boulders of a highly clay-altered intrusive breccia.
Anomalous silt samples in streams draining Target 3 contain up to 2.3 grams
per tonne gold and 436 ppb silver versus background values of 2.5 ppb gold and
20 ppb silver. Limited rock sampling returned values up to 0.4 g/t gold and
436 ppm copper. Target 3 appears to represent a moderate to high level
epithermal vein system consistent with the porphyry copper-gold-molybdenum
environment at Targets 1 and 2.
A 38 line-kilometre IP survey is planned for October with line cutting to
begin by mid-September. The timing of the IP survey will coincide with a
second stage of mapping and prospecting and be followed by a limited program
of diamond drilling if weather permits.
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited's primary focus is the exploration of
nickel, copper and platinum group element ("PGE") deposits in the Sudbury area
of Ontario. The Sudbury area hosts the world's largest concentration of nickel
deposits and is currently the most active mining camp in North America. Major
joint venture partners in Sudbury include Vale Inco, Xstrata Nickel, Lonmin
Plc and Impala Platinum Holdings Limited. Wallbridge also has a major
shareholding in Duluth Metals Limited, which has defined a large
copper-nickel-PGE resource in the rapidly emerging Duluth Complex base metal
camp in Minnesota. Wallbridge is also exploring a large porphyry
copper-gold-molybdenum property in south-western British Columbia and has
interests in copper-zinc and gold properties in northeastern Ontario.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 710-0646, Email: mstrazdins@wallbridgemining.com
Wallbridge Mining Initiates Drilling on Parkin Offset Dyke
TORONTO, Sept. 22 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) today announced that its $5 million joint venture with Impala Platinum
Holdings Limited ("Impala") has received the necessary South African Reserve
Bank approvals and drilling has been initiated on the Parkin Offset Dyke
Properties in Sudbury, Ontario.
Drilling has been started with two drills, and a total of over 8,000
metres of diamond drilling is planned between now and March 2009. The drilling
will test for down plunge extensions of both the past producing Milnet Mine
and mineralization previously defined by Wallbridge on its Parkin Property, as
well as targets on Wallbridge's newly acquired Champion Bear Resources Joint
Venture.
Under terms of the joint venture Impala will spend $5M over three years
to earn a 50% interest in the properties. Impala can then increase its
interest to 65% by funding a Feasibility Study and securing Wallbridge's
portion of the development funding through to commercial production on a
project loan basis.
Commenting on the joint venture Alar Soever, President of Wallbridge
stated, "It is our portfolio of high quality properties and joint ventures
with strong partners like Impala that allow us to maintain a high level of
activity in spite of the current investment climate."
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited's primary focus is the exploration of
nickel, copper and platinum group element ("PGE") deposits in the Sudbury area
of Ontario. The Sudbury area hosts the world's largest concentration of nickel
deposits and is currently the most active mining camp in North America. Major
joint venture partners in Sudbury include Vale Inco, Xstrata Nickel, Lonmin
Plc and Impala Platinum Holdings Limited. Wallbridge also has a major
shareholding in Duluth Metals Limited, which has defined a large
copper-nickel-PGE resource in the rapidly emerging Duluth Complex base metal
camp in Minnesota. Wallbridge is also exploring a large porphyry
copper-gold-molybdenum property in south-western British Columbia and has
interests in copper-zinc and gold properties in northeastern Ontario.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
TORONTO, Sept. 22 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) today announced that its $5 million joint venture with Impala Platinum
Holdings Limited ("Impala") has received the necessary South African Reserve
Bank approvals and drilling has been initiated on the Parkin Offset Dyke
Properties in Sudbury, Ontario.
Drilling has been started with two drills, and a total of over 8,000
metres of diamond drilling is planned between now and March 2009. The drilling
will test for down plunge extensions of both the past producing Milnet Mine
and mineralization previously defined by Wallbridge on its Parkin Property, as
well as targets on Wallbridge's newly acquired Champion Bear Resources Joint
Venture.
Under terms of the joint venture Impala will spend $5M over three years
to earn a 50% interest in the properties. Impala can then increase its
interest to 65% by funding a Feasibility Study and securing Wallbridge's
portion of the development funding through to commercial production on a
project loan basis.
Commenting on the joint venture Alar Soever, President of Wallbridge
stated, "It is our portfolio of high quality properties and joint ventures
with strong partners like Impala that allow us to maintain a high level of
activity in spite of the current investment climate."
The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited's primary focus is the exploration of
nickel, copper and platinum group element ("PGE") deposits in the Sudbury area
of Ontario. The Sudbury area hosts the world's largest concentration of nickel
deposits and is currently the most active mining camp in North America. Major
joint venture partners in Sudbury include Vale Inco, Xstrata Nickel, Lonmin
Plc and Impala Platinum Holdings Limited. Wallbridge also has a major
shareholding in Duluth Metals Limited, which has defined a large
copper-nickel-PGE resource in the rapidly emerging Duluth Complex base metal
camp in Minnesota. Wallbridge is also exploring a large porphyry
copper-gold-molybdenum property in south-western British Columbia and has
interests in copper-zinc and gold properties in northeastern Ontario.
This document may contain forward-looking statements relating to
Wallbridge's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and projections. They
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict and may be beyond Wallbridge's control. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should not be placed
on such forward-looking statements. Wallbridge disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may
be required by applicable securities laws.
%SEDAR: 00010252E
For further information: Please visit the Company's website at
www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar
Soever, President, Tel: (705) 682-9297, Email:
asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor
Relations, Tel: (416) 369-1500 ext 222, Email:
mstrazdins@wallbridgemining.com
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