Press ReleasesDecember 12, 2006
Wallbridge Mining Begins Drilling 11 North Range Targets
Toronto, Ontario -- December 12, 2006 -- Wallbridge Mining Company Limited (TSX: WM, FWB: WC7) today announced that it has started drill testing 11 high priority electro-magnetic anomalies on their Crowflight Joint Venture Property located in the footwall of the North Range of the Sudbury Igneous Complex (SIC). The drill program will consist of 11 holes for a total of about 800 metres to test conductors identified by a regional MegaTem survey conducted in 2004.
Commenting on the drill program and exploration progress to date Alar Soever, President of Wallbridge, stated, "The Crowflight Joint Venture gave us access to a number of high quality conductors, which our summer work program demonstrated to be underlain by very prospective geology. We look forward to the results of the current drill program, which represents the first test of these excellent exploration targets."
The Crowflight option and joint venture was signed in June 2006 (see Wallbridge Press Release dated May 3, 2006).
Work in the summer of 2006 consisted of the rehabilitation and cutting of 84 line kilometres of grid and detailed grid mapping, rock sampling and beep mat prospecting. The grids originally were established in 2005 to facilitate ground geophysical and limited soil geochemical follow-up of the airborne anomalies.
Mapping and prospecting in the summer of 2006 found numerous bedrock sulphide occurrences related to the MegaTem anomalies and demonstrated that the area is underlain by Archean-aged, amphibolite-grade metavolcanic and metasedimentary rocks similar to those hosting the Geneva Lake Cu-Pb-Zn mine located about 8 km to the west. The stratiform and stratabound nature and close association of the sulphide mineralization with metavolcanic rocks suggests a genetic link between the two and demonstrates the potential for drilling to discover VMS-style mineralization.
The 2006 field program also located a number of occurrences of Sudbury Breccia along arcuate structures concentric to the Sudbury Igneous Complex. These arcuate structures are roughly parallel to the Hess Offset Dyke, and similar to breccia occurrences recently reported on Wallbridge's Pele Mountain Resources Joint Venture Property (see Press Release dated November 23, 2006) located immediately to the south of the Crowflight Joint Venture Property. Selected samples of the breccia contain weakly anomalous concentrations of Pt and Pd (PGE), and certain trace elements, which are enriched in similar breccias that host Cu-PGE mineralization in the Levack Trough about 12 kilometres to the south.
Drill core samples will be prepared at ALS Chemex Ltd. Laboratories in Sudbury and then shipped to their analytical facilities in Vancouver.
The Qualified Person responsible for the technical content of this press release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge Mining Company Limited.
About Wallbridge Mining
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 Complex base metal camp in Minnesota.
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]
Mara Strazdins, Vice-President, Investor Relations
Tel: (416) 710-0646
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.