Show printable version of 'Wallbridge Updates Sudbury Exploration Progress; P...' in a New Window

Press Releases

May 25, 2005
Wallbridge Updates Sudbury Exploration Progress; Plans Active Summer Program and Provides Additional Results from Broken Hammer Zone

View News Release in PDF Format

Toronto, Ontario - May 25, 2005 - Wallbridge Mining Company Limited (TSX: WM) today announced additional drill results from its Broken Hammer Zone on the Wisner Property, and provided details of its plans for an aggressive summer work program on its Sudbury area properties.

Broken Hammer Zone - Wisner Property

Results for an additional 11 holes have now been received, with results for an additional seven holes pending. The results continue to confirm the presence of higher grade material within the mineralized envelope at the Broken Hammer Zone.

The results from all holes recently received are tabulated below.

BROKEN HAMMER ZONE DIAMOND DRILL ASSAYS

Hole From
(m)
To
(m)
Core Length
(m)
Pt
g/t
Pd
g/t
Au
g/t
Ag
g/t
Cu
%
Ni
%
Pt+Pd+Au
g/t
WIS-046 4.50 10.00 5.50 0.42 1.14 0.62 4.03 0.55 0.05 2.18
WIS-048 30.50 35.00 4.50 18.84 5.31 0.67 62.72 1.74 0.14 24.81
and 55.60 56.00 0.40 7.31 25.70 0.19 0.96 0.84 0.02 33.20
WIS-053 41.00 49.00 8.00 0.76 1.05 0.45 7.98 0.31 0.04 2.26
and 62.00 70.00 8.00 1.80 1.32 0.51 6.42 0.24 0.03 3.63
WIS-054 22.00 26.90 4.90 1.38 1.45 0.39 3.26 0.98 0.06 3.22
WIS-055 36.00 41.50 5.50 0.61 3.17 4.95 15.98 1.47 0.08 8.73
WIS-056 8.50 12.50 4.00 0.92 2.48 1.02 1.16 2.19 0.24 4.42
and 18.40 18.85 0.45 0.21 9.94 0.68 1.39 12.20 0.14 10.83
WIS-057 97.00 99.00 2.00 7.55 8.84 0.22 3.54 0.64 0.09 16.60
WIS-058 36.00 41.00 5.00 0.72 0.98 0.19 3.52 0.92 0.08 1.90
WIS-060 95.00 99.00 4.00 1.55 3.60 1.16 12.86 0.30 0.04 6.31

Due to the nature of the mineralization, true width of individual intersections is difficult to determine with any accuracy. Metallurgical test work is currently underway at SGS Lakefield on material from the Broken Hammer Zone and Wallbridge has retained Roscoe Postle Associates Inc. to prepare an initial resource estimate for the Broken Hammer Zone mineralization.

Down hole geophysical surveys, both IP and UTEM, are now being carried out in some of the deeper holes to trace the mineralization to depth.

Wisner SCJV Property

Six holes totaling 1715 metres were completed on the East Block of the Wisner Property, as part of the winter drilling program on the Sudbury Camp Joint Venture (SCJV). The holes targeted IP anomalies associated with Sudbury breccia. Minor chalcopyrite mineralization was intersected in several of the drill holes. Although no economically significant mineralization was intersected, the information from these holes indicates that the area is prospective and follow up work on the Sudbury breccia will be carried out during the summer program.

Trill Property (SCJV)

Four drill holes, totaling 912 m, were completed on the Trill property. The drill holes tested IP anomalies along the flank of a major northwest trending magnetic low. Summer field work had located a large outcrop of metamorphosed Sudbury breccia with associated alteration and anomalous PGE levels in an area of very little outcrop. The holes drilled this winter confirmed the presence of a major belt of Sudbury breccia, approximately 200 m in width with associated anomalous chlorine values. These types of structures are favourable host rocks to footwall mineralization. The area will be further investigated by a deep penetrating 3D-IP survey as part of the summer program.

Windy Lake (SCJV)

A single 900 metre drill hole was completed to test the up-plunge end of the Windy Lake sublayer embayment. A thick section of sublayer was intersected with disseminated pyrrhotite and minor chalcopyrite mineralization, however, a downhole UTEM survey did not locate conductors in close proximity to the drill hole. Wallbridge will continue to study the results to date with a view to identifying further drill targets. The Windy Lake embayment remains unexplored to depth.

Summer Program

"We have a very active summer program planned, not only on the Wisner Property, but on many of our other Sudbury area properties", stated Alar Soever, President of Wallbridge Mining. "We will have six mapping/prospecting/sampling field crews going all summer, and our JV budgets have provision for approximately 6,000 metres of drilling during the remainder of this year".

"While we're extremely pleased with Broken Hammer to date, we have a lot of other targets that need to be investigated. For example, on our Frost Lake property, located in the East Range, northeast of Falconbridge's Nickel Rim South discovery, we identified a couple of new showings last fall and we are most anxious for an extensive follow-up with our summer program. We also have good soil geochemical anomalies on structures which trend right back to contact deposits". "Right now, we're completing an IP survey on these targets, and we'll be following up those results this summer with further work including drilling."

The Broken Hammer zone is located on the northern part of the Wisner Falconbridge 4X Joint Venture Property. This joint venture also includes the Frost Lake and Parkin properties. Wallbridge owns a 64% interest in these properties. Joint Venture partner Falconbridge Limited owns the remaining 36%. The Trill and Windy 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 SGS Canada Inc. Mineral Services in Toronto, Ontario and 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 Alar Soever, P.Geo, President of Wallbridge Mining Company Limited.

About the Company

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 properties elsewhere in northern Ontario, Manitoba, Nova Scotia and near Duluth, Minnesota.

FOR FURTHER INFORMATION please visit the Company's website at www.wallbridgemining.com, or contact:

Wallbridge Mining Company Limited
Richard Murphy, Vice President Corporate Development
Tel: (705) 682-9297
Email: rmurphy@wallbridgemining.com

Cavalcanti Hume Funfer Inc., Investor Relations
Nick Kohlmann, Vice President
Tel: (416) 868-1079 ext. 222
Email: nick@chfir.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.

View News Release in PDF Format: