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| Wallbridge Mining Company Limited (WM:TSX) is an established junior company, formed in 1996, to explore and develop platinum group metals, copper and nickel mineral projects in mining friendly jurisdictions of North America. Wallbridge is currently exploring and developing a large package of properties in Sudbury, Ontario, Canada's premier mining district. These include the permitting stage Broken Hammer mine development project and significant exploration joint ventures with partners Lonmin Plc, Impala Platinum Holdings Limited and Xstrata Nickel. In 2005, Wallbridge created Duluth Metals Limited (TSX:DM) to explore and develop projects in Minnesota, USA. Duluth Metals has since defined the world's largest undeveloped sulfide platinum group metals, copper and nickel deposit which it is developing through Twin Metals Limited, a joint venture with copper producer Antofagasta Plc. Wallbridge currently retains 10.1 million shares of Duluth Metals (8.1%). In 2011, Wallbridge created Miocene Metals Limited (TSXV:MII) to explore and develop porphyry copper-gold-molybdenum projects in British Columbia, Canada, within a previously under-recognized belt of Miocene-age intrusions. These projects are early stage with large mineralized structures and alteration zones that are ready for drilling with potential for large tonnage deposits. Wallbridge currently retains 28.4 million shares of Miocene Metals (42.5%). Wallbridge has a record of successfully generating high potential mineral projects and structuring partnerships and new companies to create value for its shareholders and its partners. HIGHLIGHTS AND OBJECTIVES At the Broken Hammer copper and PGE project, the prefeasibility results indicate that the project generates $8.4M revenue and $6M NPV over a mine life of 12 months. Permitting is currently underway. Impala vested its 50% interest in the Parkin Offset Joint Venture. Exploration to date has grown the Milnet 1500 zone to minimum dimensions of 400m by 50-60m by an undetermined thickness. The 2013 exploration program is currently being developed for implementation. A new joint venture agreement with Lonmin on our North Range Properties was signed this year. This JV agreement provides for up to $8.8M exploration funded by Lonmin over 3 years. The 2013 exploration program for $1.1M funded solely by Lonmin has been approved and is underway. 2012 drilling and exploration on the Sudbury Camp Joint Venture with Lonmin has now been completed. The 2013 exploration program for US $1.0M funded solely by Lonmin has been approved and is underway. Wallbridge will continue to review new projects and opportunities to leverage its current assets for growth. |
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May 07, 2013 Wallbridge Mining Updates Broken Hammer Progress |
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