Press ReleasesDecember 19, 2006
Wallbridge Mining Locates Mineralization in Hess Offset Dyke
Toronto, Ontario -- December 19, 2006 -- Wallbridge Mining Company Limited (TSX: WM, FWB: WC7) is pleased to report on the results of its 2006 exploration program on the Hess Offset Dyke located in the North Range of the Sudbury Igneous Complex. The dyke is being explored in joint venture with Champion Bear Resources (TSXV: CBA) as described in a joint press release dated December 1, 2005. Wallbridge is the operator of the joint venture.
Highlights of the summer 2006 exploration program include:
- Confirmation of the lateral continuity (about 2 kilometres) and width (50-70 metres) of the quartz diorite dyke across the entire eastern portion of the Hess Offset JV property (Eastern Hess Offset). Offset dykes host many economically significant nickel-copper-PGE deposits around Sudbury.
- Discovery of three news zones of outcropping disseminated chalcopyrite-pyrrhotite-pentlandite mineralization in inclusion quartz diorite (IQD) associated with distinctly magnetic segments of the dyke that have strike lengths of up to 350 metres.
- Highly anomalous Pt, Pd and Au assays associated with the disseminated sulphide mineralization including samples with up to 2630 ppm copper, 1760 ppm nickel, 80 ppb gold, 182 ppb platinum, and 657 ppb palladium (0.919 g/t TPM).
- Titan 24 DCIP and MT geophysical surveys over a 2.4 kilometre segment of the Eastern Hess Offset targeting the distinct magnetic anomalies associated with disseminated pyrrhotite-pentlandite-chalcopyrite mineralization found in 2006.
- Trenching to expose the entire width of surface showings in preparation for channel sampling.
- Diamond drilling followed by borehole electro-magnetic and/or borehole IP surveys.
Outcrop samples were prepared at ALS Chemex Ltd. Laboratories in Sudbury and then shipped to their analytical facilities in Vancouver. Samples were 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 were also analyzed for 47 base metal and trace elements using a four acid (HNO3-HCIO4-HF and HCI) near total digestion and a combination of ICP-MS and ICP-AES. Any ICP overlimits were re-analyzed using sodium peroxide fusion acid dissolution followed by ICP-AES.
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 Basin 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 (TSX: DM), 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.