Press ReleasesDecember 09, 2009
Wallbridge Mining Intersects Porphyry Copper-Gold Mineralization at Rogers Creek
Toronto, Ontario - December 9, 2009 - Wallbridge Mining Company Limited (TSX: WM, FWB: WC7) announced today that initial drilling has confirmed porphyry-style copper, gold, silver and molybdenum mineralization and/or alteration in all three holes drilled on its Rogers Creek property in south-western British Columbia. The results established the presence of a porphyry type system and are consistent with mineralization expected on the fringe of such a system. Drilling on the property will continue in 2010.
Commenting on the results Alar Soever, President and CEO of Wallbridge stated, "These results from our first three holes on the property are very encouraging in that they confirm the presence of a large mineralizing system. To date the drilling is limited to the western edge of a very large IP response and the results are consistent with mineralization expected to occur within the pyritic shell on the periphery of such a system. As the early rapid onset of winter precluded further drilling to the east, this area and other targets will be drilled in 2010."
Results from the initial three hole program include scattered mineralization over 172.45 metres in WRC-001, including 0.105% copper over 7 metres, and 120 metres in WRC-002 which averaged 0.20 g/t gold, including 7.5 metres averaging 1.53 g/t gold, 0.130% copper, and 11.2 g/t silver. Drill hole locations can be found in Figure 1, available on the Company website at www.wallbridgemining.com under this press release.
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Hole WRC-001 intersected scattered copper-molybdenum mineralization extending from about 408 to 583 metres down-hole. The mineralization occurs as widely spaced quartz-sulphide +/- anhydrite veins which carry copper +/- molybdenum. Selected intervals include 0.105% copper over 7 metres from 408 to 415 metres, 0.107% copper, 131 ppm Mo over 2 metres from 422 to 424 metres, 0.202 % copper over 0.86 metres from 461.69 to 462.55 metres, and 191 ppm molybdenum over 2.24 metres from 505.76 to 508 metres.
WRC-002 intersected a zone of gold mineralization hosted by quartz-sulphide +/- anhydrite veins and vein stockworks that extended from 598.0 to 718.0 metres down-hole and returned 0.20 g/t gold over 120.0 metres. Values within this zone include 0.53 g/t gold over 16 metres from 613 to 629 metres including 4.24 g/t gold over 1.5 metres from 627.5 to 629, and 1.53 g/t gold, 0.130% copper and 11.2 g/t silver over 7.5 metres from 704.5 to 712 metres, including 4.37 g/t gold, 0.130% copper and 20.0 g/t silver over 1.5 metres from 710.5 to 712 metres.
WRC-003 intersected anomalous copper and gold values over a core length of 90 metres largely outside the contact between the Rogers Creek granodiorite and Target I breccia pipe. Maximum values include 0.16% Cu, and 0.202 g/t Au over 1.5 metre sample intervals.
Using drill hole inclinations and vein core angles as a guide, intersections are roughly estimated at 70% of those reported.
Drill hole results can be viewed in Figure 2 which is available on the Company website at www.wallbridgemining.com
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All holes were collared and were finished in the Rogers Creek granodiorite except WRC-003, which collared in granodiorite, entered Target I breccia at 90.0 metres down-hole and was completed to a final depth of 400.0 metres in breccia. A fourth hole (see Wallbridge press release dated November 5, 2009) could not be drilled because of a very heavy, early-season snowfall. Holes were drilled on or just inside the western periphery of Target I magnetic low and targeted IP anomalies resulting from a 28 line-kilometre IP survey completed in mid-August (see Rogers Creek press release dated July 10, 2009).
Drill results confirmed a porphyry model for the mineralization and alteration and are interpreted to indicate that the pyritic shell of large, mineralized porphyry system had been intersected by drilling. Detailed examination of drill core demonstrated that the breccia pipe, which coincides with a strong magnetic low, intruded a well-zoned (vertically and laterally) alteration/mineralization system in which a potassic (Biotite/K-feldspar) core has been overprinted by later phyllic (quartz/sericite/pyrite) and propylitic (chlorite/epidote/carbonate) alteration assemblages. As first observed in outcrop mineralization outside the margins of the magnetic low in the pyritic halo is hosted by quartz-sulphide +/- anhydrite veins, vein stockworks and zones of disseminated sulphide in alteration selvages associated with mineralized veins. Fluid exsolution pipes, which represent a new style of chalcopyrite mineralization, are hosted by zones of potassically altered granodiorite and were intersected in WRC-001 and WRC-002.
3D modelling of drill results, mapping and geochemical sampling, and airborne and ground geophysical surveys will guide drilling which is planned for the 2010 exploration season.
Drill core samples were delivered directly to ALS Chemex Ltd. laboratories in Vancouver for preparation and analysis. Samples were crushed to 70% passing 2 mm, after which a split was taken with a riffle splitter and pulverized to 85% passing 75 microns. The samples were then analyzed for 46 elements using Chemex's ME-MS61 package, which is an inductively-coupled plasma mass spectrometric (ICP-MS) method utilising a near-total four acid digestion. The samples were assayed for Au by standard lead collection/fire assay fusion (Au-ICP21) using a 30 gram pulp split and an inductively coupled plasma atomic emission spectrometry (ICP-AES) finish. Mercury was analysed by Chemex's cold-vapour, atomic absorption (Hg.CV41) method.
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's primary focus is the exploration of nickel, copper and platinum group element ("PGE") deposits in the Sudbury area of Ontario. The Sudbury area hosts the world's largest concentration of nickel deposits and is currently the most active mining camp in North America. Major joint venture partners in Sudbury include Vale Inco, Xstrata Nickel, Lonmin Plc and Impala Platinum Holdings Limited. Wallbridge also has a major shareholding in Duluth Metals Limited, which has defined a large copper-nickel-PGE resource in the rapidly emerging Duluth Complex base metal camp in Minnesota. Wallbridge is also exploring a large porphyry copper-gold-molybdenum property in south-western British Columbia and has interests in copper-zinc and gold properties in north-eastern Ontario.
For Further Information
Please visit the Company's website at www.wallbridgemining.com, or contact:
Wallbridge Mining Company Limited
Alar Soever, President & CEO
Tel: (705) 682-9297
Mara Strazdins, Vice-President, Investor Relations
Tel: (416) 369-1500 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.