Press ReleasesAugust 09, 2005
Wallbridge Reports First Drill Assays from New Trill Offset Dyke
Toronto, Ontario - August 9, 2005 - Wallbridge Mining Company Limited (TSX: WM) today announced the first assays from channel samples and drill holes testing the newly identified Trill Offset Dyke. Assays from the first massive sulphide lense to be discovered in this new unexplored dyke include 4.64 m of 3.04 g Pt/t, 7.72 g Pd/t, 1.92 g Au/t (12.68 g Pt+Pd+Au/t), 1.70% nickel, 1.05% copper in hole WTR-011 (estimated true width 3.3 metres), including a massive sulphide section of 11.36 g Pd/t, 3.84 g Pt/t, 0.18 g Au/t (15.38 g Pt+Pd+Au/t), 4.85% nickel, 0.57% copper over 1.42 metres (estimated true width 1.0 metres).
A summary of assay results received to date is tabulated below
|%Ni||%Cu||Estimated True Width (metres)||Remarks|
|Channel B||1.65||4.65||3.00||2.29||5.21||0.53||8.03||1.47||1.36||3.00||10 m east of Channel A|
|Channel C||1.10||4.57||3.47||1.64||3.47||0..24||5.35||1.48||0.70||3.47||10 m east of Channel B|
|12 m below channels|
Assay results for the remaining ten holes are pending.
Since identification as a new offset dyke in late June of this year:
- the dyke has been traced 700 m back towards the contact of the Sudbury Igneous Complex which lies over four kilometers to the east;
- trenching has exposed a massive sulphide zone within the dyke;
- 12 drill holes have been completed testing the dyke over a strike length of 150 metres and to a maximum depth of about 100m. All twelve holes intersected the dyke with four intersecting sulphide mineralization to a depth of 30 metres.
- Linecutting has been completed covering the strike extensions of the dyke, and magnetometer and ground TEM surveys are currently underway to test magnetic anomalies identified along the trend of the dyke by magnetic surveys;
- To date work has extended only about 800 m east of the discovery outcrop. Work is currently underway to trace the dyke back towards the Sudbury Igneous Complex from this point. There is potential for about 2.5 kilometres of dyke on Wallbridge property between this point and the eastern property boundary;
"I'm very pleased with what our staff has accomplished over the past month, stated Alar Soever, President of Wallbridge. Finding a brand new offset dyke is a real coup, as anyone who knows Sudbury geology will tell you. Our team really has to be commended for what they've accomplished in a very short time. Not only were we able to acquire all of the open ground along the potential strike extension, but we've also traced the dyke along strike, cut a new grid, and have already started to define other targets in addition to the high grade mineralization we've already found."
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.
Work on the Wallbridge/Lonmin Sudbury Camp Joint Venture, which includes the Trill Property, is funded by Lonmin Plc, which can earn a 65% interest in any mineral resource by funding work through to production.
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 was established to explore for and develop 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, 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
Alar Soever, President
Tel: (705) 682-9297
Cavalcanti Hume Funfer Inc., Investor Relations
Nick Kohlmann, Vice President
Tel: (416) 868-1079 ext. 222
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.
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