Press ReleasesFebruary 15, 2005
Wallbridge Continues to Extend Broken Hammer Zone On Wisner Property in Sudbury
Toronto, Ontario - February 15, 2005 - Wallbridge Mining Company Limited (TSX: WM) today announced that drill results from the Wisner Property in Sudbury have successfully extended the strike length of the Broken Hammer Zone. The mineralization at the Broken Hammer Zone remains open to the east, west and southwest.
PGE-copper nickel mineralization was also intersected in holes drilled to test the South Zone mineralization located 1,300 metres southwest of the Broken Hammer Zone.
The assay results recently received are for holes WIS-033 to WIS-035, and WIS-038, WIS-039 and WIS-041 (holes WIS-036 and WIS-037 were reported previously, see Press Release of January 19, 2005).
Holes WIS-039 and WIS-041 tested the western and southwestern extensions of the Broken Hammer Zone. Results of these drill holes including:
- 21.65 meters averaging 5.55 g/T PGE (Pt+Pd+Au) and 0.36% copper in hole WIS-039, and
- 6.53 meters averaging 2.69 g/T PGE (Pt+Pd+Au) and 0.27% copper in hole WIS-041
Holes WIS-033 to WIS-035 were drilled to test the South Zone mineralization approximately 1,300 metres southwest of the Broken Hammer Zone. Drill results include:
- 1.65 meters averaging 2.32 g/T PGE (Pt+Pd+Au) and 0.21% copper in hole WIS-033.
- 2.00 meters averaging 2.41 g/T PGE (Pt+Pd+Au) and 0.09% copper in hole WIS-034.
Holes WIS-038 and WIS-040 tested new target areas outside of the Broken Hammer Zone. No significant mineralization was encountered.
The results from all holes recently received are tabulated below.
| Core Length
"We are very encouraged by the continuity of the Broken Hammer Zone as we follow it down plunge" stated Alar Soever, President of Wallbridge Mining. "We are continuing to add to the overall size of the zone with wide, good grade, intersections such as the 5.55 g/T PGE over 21.65 metres in hole WIS-039. The high platinum/palladium ratio of the mineralization at approximately 1:1, relative to many other deposits at 0.3:1, is very positive for the contained metal value of this mineralization"
Platinum currently sells for approximately US$875 per ounce, while palladium sells for approximately US$190 per ounce.
Drilling has resumed on the Broken Hammer Zone where it is anticipated the Company will generate positive results throughout the year.
A plan map of the drilling on the Broken Hammer Zone can be found on the Company's website www.wallbridgemining.com.
Wallbridge owns 64% of the Wisner property, which hosts the Broken Hammer Zone. Joint Venture partner Falconbridge Limited owns the remaining 36%.
Assays were undertaken by SGS Canada Inc. Mineral Services in Toronto, Ontario using a standard fire assay for Au, Pt, Pd and sodium peroxide fusion/ICP finish for base metals.
The Qualified Person responsible for the technical content of this press release is Alar Soever, P.Geo, President of Wallbridge Mining Company Limited.
About the Company
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.
FOR FURTHER INFORMATION please visit the Company's website at www.wallbridgemining.com, or contact:
Wallbridge Mining Company Limited
Richard Murphy, Vice President Corporate Development
Tel: (705) 682-9297
Email: [email protected]
Cavalcanti Hume Funfer Inc., Investor Relations
Nick Kohlmann, Vice President
Tel: (416) 868-1079 ext. 222
Email: [email protected]
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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