Press ReleasesJune 12, 2006
Wallbridge Starts Summer Program with Three Drills
Toronto, Ontario -- June 12, 2006 -- Wallbridge Mining Company Limited (TSX: WM) announced today that work on its summer exploration program in Sudbury is well underway with three drills turning on its Frost Lake, Wisner and Trill properties and with four mapping crews in the bush. A deep penetrating MT survey is also underway on the Skynner Lake Property
One drill is operating on the Frost Lake property on the East Range where the focus is on Wallbridge's Amy Lake PGE zone, which was intersected by drilling last winter (see Press Release dated December 06, 2005) as well as the new nickel discovery announced in April 2006. (see Press Release dated April 5, 2006). As reported in that release the discovery hole on this zone intersected 16.00 metres averaging 0.482% Ni and 0.272% Cu including 2.36 metres containing 1.472% Ni and 0.630 % Cu, and 1.10 metres containing 1.620% Ni and 0.292 % Cu. Drilling will attempt to trace this mineralization to depth and along strike.
A second drill is operating on the Wisner property on the North Range and is currently testing to depth the disseminated and vein type copper-PGE mineralization found by surface trenching and recently intersected by shallow drilling in the Southwest Area (see Press Release dated May 30, 2006).
A third drill is operating at the western end of the Sudbury basin on the Trill property. Targets here are conductors defined by the VTEM survey flown late last year and early this year and the recently completed ground geophysics as well as the strike extension of the Trill Offset dyke. Work last year identified the presence of this mineralized offset dyke as well as a small high-grade massive sulphide zone within it.
In addition to the drilling, trenching is underway on linear VTEM conductors on the Foy property, while field crews are carrying out follow-up mapping and sampling on a number of other targets around the Sudbury basin.
Results of these work programs will be reported as they become available.
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%.
Work on the Trill, Foy and Skynner Properties is funded 65% by Lonmin Plc. and 35% by Wallbridge through the Wallbridge/Lonmin Sudbury Camp Joint Venture. Lonmin can earn up to a 65% interest in any mineral resource by funding work through to production.
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-HCIO4-HF and HCI) 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.
Bruce Jago, P.Geo, Vice President Exploration, 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 Duluth Metals 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
Mara Strazdins, 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.