Press ReleasesJanuary 15, 2004
Wallbridge Adds Second Drill to Test Extension of Wisner PGE Mineralization
Toronto, Ontario - January 15, 2004 - Wallbridge Mining Company Limited (TSX: WM) announces that a second drill has been mobilized to the Broken Hammer zone. This new drill will test the northeast strike extension of the Broken Hammer platinum-palladium-copper zone (see press release dated Jan. 8, 2004), where it extends from the Wallbridge-Falconbridge JV onto adjacent lands which are part of Wallbridge's Sudbury Camp Joint Venture (SCJV) with Lonmin Plc.
Mechanical stripping of an IP anomaly in the late fall exposed chalcopyrite mineralization enriched in platinum-palladium in this area. Only three grab samples were taken from the stripped area on the SCJV property before the program was terminated due to winter weather. The table below summarizes the assay results and gives a brief description of the sulphide mineralization.
|8760||0.97||8.08||0.49||9.54||51.5||17.62||0.34||15.60||Semi-massive, sheared chalcopyrite vein|
|8761||3.31||1.35||3.54||8.20||11.0||0.45||0.33||0.29||1-2% disseminated and stringer chalcopyrite|
|8762||1.90||59.10||0.27||61.26||43.4||35.44||0.06||28.80||Massive chalcopyrite vein, 100% sulphide|
Assays were completed by SGS Minerals using a standard fire assay for Au, Pt, Pd and sodium peroxide fusion/ICP finish for base metals.
Alar Soever, President, says, "We are extremely encouraged by the initial drill results on this zone, particularly the intersection of 4.66 g/T TPM over 9.5m in hole WWL-007 (see press release dated Jan. 8, 2004) which is located 70 metres southwest of the new drill site. This exciting discovery at surface is proof of the potential that exists in Sudbury. The strong support provided by Lonmin since the commencement of the SCJV has allowed us to implement a thorough, systematic exploration approach on a very large land package. It is rewarding to see our exploration approach starting to pay off. We look forward to advancing exploration at Wisner, as well as on our other priority targets on SCJV properties".
Exploration of all 18 SCJV properties is funded by Lonmin. Wallbridge is the operator of the SCJV during the exploration phase.
The Qualified Person responsible for the technical content of this press release is Richard Murphy, P.Geo, Exploration Manager for Wallbridge Mining Company Limited and Manager of the Sudbury Camp Joint Venture.
For further information, contact:
Wallbridge Mining Company Limited
Tel: (705) 682-9297
Fax: (705) 682-2144
Wallbridge Mining Company Limited was established in 1996 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. To find out more about Wallbridge Mining Company Limited (TSX: WM), visit our website at www.wallbridgemining.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.