Press ReleasesNovember 07, 2006
Wallbridge Mining Reports New Trill Assays; Announces Resource Drilling
Toronto, Ontario -- November 7, 2006 -- 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.
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.
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
Mara Strazdins, Vice-President, Investor Relations
Tel: (416) 710-0646
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.