Press ReleasesDecember 06, 2005
Wallbridge Intersects Wide Zones of PGE Mineralization on Frost Lake Property
Toronto, Ontario - December 6, 2005 - Wallbridge Mining Company Limited (TSX: WM) announced today that initial drill testing of new mineralization discovered this summer on the Frost Lake Property has intersected wide zones of low-sulfide platinum-palladium-gold mineralization. For example, drillhole WC-013 intersected three zones:
- 10.80 metres averaging 1.066 g/t Pt+Pd+Au;
- 24.3 metres averaging 1.032 g/t Pt+Pd+Au; and,
- 15.0 metres averaging 1.098 g/t Pt+Pd+Au.
September-October 2005 Drilling Highlights - Amy Lake South
Note: True width of the intersections cannot be estimated at this time as the geometry of the zone is unknown
A total of four drillholes, totaling 812 metres, were completed in September and October to test a four-line I.P. chargeability anomaly. This anomaly coincides with the southern part of a 600 metre by 100 metre wide zone, identified by mapping and prospecting this summer that contains a number of PGE-copper occurrences. Twenty-two of 80 grab samples collected this summer throughout this area returned anomalous PGE values in excess of 0.5 g/t Pt+Pd+Au. Eleven of these yielded values between 4.41 and 30.01 g/t Pt+Pd+Au. (These results were previously reported and are described in more detail in the press release dated September 29, 2005)
Low-sulfide, low-grade PGE mineralization was intersected by the four drillholes over a strike length of at least 150 metres, and a minimum depth of 150 to 200 metres. This newly identified zone of mineralization is open to depth and along strike. The higher values in the holes drilled to date occur in the deeper portions of the drill holes.
The PGEs occur with less than 1 % sulfide; consisting of chalcopyrite-millerite-pyrite veinlets with epidote and chlorite alteration selvages. Mineralization is hosted within a north-northwest trending, near-vertical belt of partially melted Sudbury breccia (mega-breccia) containing localized pods of "late granite breccia" or "footwall breccia". It occurs approximately 300 metres into the footwall to the Sudbury Igneous Complex and lies stratigraphically beneath, and concentric to, a mineralized sublayer embayment structure.
The mineralization is similar in style to low sulphide, high PGE mineralization associated with known copper-nickel-PGE deposits.
Follow-up drilling is planned to determine the strike length of this mineralized zone and its orientation, and to test its down-dip extent.
A longitudinal section of this recent drilling and a more thorough description of the Frost Lake Property are available on the Wallbridge website at www.wallbridgemining.com.
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%.
Half-core samples are prepared at ALS Chemex Ltd. Laboratories in Sudbury and then shipped to their analytical facilities in Vancouver for analyses using a standard fire assay for Au, Pt, Pd and sodium peroxide fusion/ICP finish for base metals and trace elements.
Alar Soever, P.Geo, President, 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.
Wallbridge Mining Company Limited was established to explore for and develop 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 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, M.Sc.,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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