Press ReleasesApril 05, 2006
Wallbridge Intersects Nickel in Sudbury East Range Footwall
Toronto, Ontario -- April 5, 2006 -- Wallbridge Mining Company Limited (TSX: WM) announced today that it has intersected a new zone of nickel-copper mineralization on its Frost Lake Property, on the East Range of the Sudbury Igneous Complex. Drill hole WC-024, which targeted an off-hole pulse EM anomaly, intersected:
16.00 metres averaging 0.482% Ni and 0.272% Cu, between 93.0 and 109.0 metres downhole. Included in this wider intercept are:
• 2.36 metres containing 1.472% Ni and 0.630 % Cu from 105.00 to 107.36 meters, and
• 1.10 metres containing 1.620% Ni and 0.292 % Cu from 97.00 to 98.10 metres.
More detailed assay results are tabulated below.
This new nickel discovery is the result of follow-up of a VTEM airborne electromagnetic anomaly. WC-022, the first hole drilled to test the anomaly, intersected 102 metres of previously undocumented mafic-ultramafic and anorthositic rocks, locally containing trace disseminations and blebs of pyrrhotite, pentlandite, and chalcopyrite. The discovery hole, WC-024, was targeted based on the results of a Crone down-hole pulse EM survey in WC-022.
Airborne magnetic data and a recently completed induced polarization survey indicate that the ultramafic unit may have a strike length greater than 700 metres. Further borehole geophysics and follow-up drilling is planned.
Wallbridge has also identified another five similar magnetic features on its large East Range land package which covers 2900 hectares of footwall rocks and extends from Falconbridge's Nickel Rim South Project in the south to FNX's Podolsky Project in the north. These will be investigated as part of an aggressive summer exploration program.
"This new nickel discovery marks the beginning of a new phase in our understanding and exploration of our very extensive footwall land package," stated Alar Soever, President of Wallbridge. "The discovery of significant nickel mineralization associated with mafic-ultramafic rocks, over one kilometre into the footwall of the Sudbury Igneous Complex is to our knowledge unprecedented in the camp, although mafic-ultramafic rocks are known to occur in the footwall behind nickel-copper-PGE deposits in the Levack embayment."
The Frost Lake Property is part of the Wallbridge/Falconbridge 4X Joint Venture. Wallbridge currently has a 64% interest in the Frost Lake Property, while joint venture partner Falconbridge Limited has the remaining 36%.
Half-core samples are delivered to the ALS Chemex Limited sample preparation laboratory in Sudbury, Ontario. At ALS Chemex, samples were checked against requisition documents prior to being dried, weighed, crushed and split to 200 gram fractions using a Jones riffler and milled to 90 to 95 % passing 200 mesh and then transported by ALS Chemex to their analytical facilities in Vancouver, British Columbia.
Samples are analyzed for Au, Pt, and Pd by standard lead collection fire assay fusion followed by a combination of inductively coupled plasma mass spectrometry (ICP-MS) and atomic emission spectrometry (ICP-AES). Samples are also analyzed for 47 base metals and trace elements using a four acid (HNO3-HClO4-HF and HCl) near total digestion and a combination of ICP-MS and ICP-AES. ICP overlimits are re-analyzed using sodium peroxide fusion acid dissolution followed by ICP-AES.
Alar Soever, P.Geo, President, is the Qualified Person for Wallbridge Mining Company Limited, in accordance with NI 43-101 of the Canadian Securities Administrators, and is responsible for the technical content of this press release and quality assurance of Wallbridge's exploration data and analytical results.
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 Wallbridge America Limited, which has a significant property position in the rapidly emerging Duluth base metal camp.
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
Email: [email protected]
CHF Investor Relations
Nick Kohlmann, M.Sc.,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.