Press ReleasesJune 10, 2004
Wallbridge Uncovers PGE-Rich Massive Sulphides at Broken Hammer
Toronto, Ontario - June 10, 2004 - Wallbridge Mining Company Limited (TSX:WM) is pleased to announce that stripping of an Aerotem anomaly over the eastern end of the Broken Hammer Zone on the Wisner Property has uncovered PGE-rich massive sulphides.
The sulphides occur as a one half metre thick massive chalcopyrite 'Big Boy' vein set, which has been traced for a distance of 40 metres. The vein set then grades into a thicker exposure of mineralization approximately 6 metres wide which has not been channel sampled to date. This new thicker zone has been exposed over a known strike length of 10 metres and is open along strike to the southwest.
Initial sampling of the Big Boy vein set comprised two grab samples and four channel samples cut at approximately five metre intervals across the vein. These channel samples across the vein average 6.50 g Pt/t, 19.93 g Pd/t, 2.29 g Au/t, 21.88% Cu, 0.27% Ni, or 28.72g Pt+Pd+Au/t (0.922 Oz/mt) over an average true width of 0.70 metres. Individual assays are tabulated below:
|* Vein Weighted Average||0.4||0.09||17.84||1.12||4.00||28.70||0.04||19.05||0.612|
|* Vein Weighted Average||0.55||1.37||24.92||1.45||5.27||23.71||0.85||27.74||0.891|
|* Vein Weighted Average||1.33||9.80||17.11||1.56||7.79||21.04||0.15||28.47||0.914|
|* Vein Weighted Average||0.5||8.51||23.60||6.07||32.64||16.64||0.13||38.18||1.226|
Assays were undertaken by SGS Minerals in Toronto using a standard fire assay for Au, Pt, Pd and sodium peroxide fusion/ICP finish for base metals.
"We are extremely pleased with the early success of the trenching program and the high grade of the mineralization encountered", said Alar Soever, President of Wallbridge. "The wider veins and massive sulphide breccia we uncovered were not intersected by the initial drilling of the zone, due to the large distance between drill sections in the initial phase of drilling. Using the information from our surface stripping program, we will be initiating a detailed drilling program to define the extent of this high grade material, the presence of which has the potential to greatly increase the overall grade of the Broken Hammer Zone".
The Broken Hammer Zone occurs along the boundary between the Wallbridge/Falconbridge Limited Four Times Joint Venture and the Wallbridge/Lonmin PLC. Sudbury Camp Joint Venture portions of the Wisner Property. Wallbridge is funding the current work program on the Wallbridge/Falconbridge Four Times Joint Venture portion of the property, which will increase its percentage interest in those lands. Work on the Wallbridge/Lonmin Sudbury Camp Joint Venture is funded by Lonmin Plc, which can earn a 65% interest in any mineral resource by funding work through feasibility.
The Qualified Person responsible for the technical content of this press release is Alar Soever, P.Geo, President of Wallbridge Mining Company Limited.
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.