Press ReleasesDecember 04, 2007
Wallbridge Mining Uncovers Gold-Silver-Copper-Lead Mineralization in the Sudbury Area
Toronto, Ontario - December 4, 2007 - Wallbridge Mining Company Limited (TSX: WM, FWB: WC7) today announced that it has uncovered significant gold, silver, copper and lead mineralization within an area of 80 by 150 metres on its Demorest Property ("Property") northeast of Sudbury, Ontario. Surface grab Sample #701756 returned 2.87g/t gold, 770.0g/t silver, 3.70% copper and 2.93% lead, Sample #601613 returned 12.10g/t gold, 49.80g/t silver and 0.79% copper, and Sample #604168 returned 1.45g/t gold, 1175.0g/t silver, 1.37% copper and 5.68% lead. The property is located about 25 kilometres northeast of Wallbridge's Parkin Offset property which hosts the Parkin Resource. It is accessible by road and is a very short drive from infrastructure located in the City of Sudbury.
"This acquisition and discovery is a result of our ongoing work in the Sudbury region", stated Alar Soever, President of Wallbridge "The fact that such good grade mineralization can be located on surface again demonstrates how under-explored this area of Ontario is. It continues to surprise us that this quality of mineralization can still be found on surface within a stone's throw of such a major mining camp".
The Property was acquired in the spring of 2007 when it was brought to Wallbridge's attention by local prospectors. A sample collected by the prospectors and assayed at the Ontario Geoscience Laboratories in Sudbury, Ontario, contained 2.1 oz/ton gold (72 g/t gold). This fall, mechanical stripping, mapping, and sampling of four mineralized outcrops was completed by Wallbridge during a preliminary evaluation of the Property. The chalcopyrite-galena mineralization is associated with multiple, multi-stage quartz-carbonate veins exhibiting highly developed crack-seal textures within a broad, northeast-trending shear structure cutting a gabbroic intrusion. Where exposed, the mineralized zones have widths of 5 to 10 metres.
Assay results for grab samples collected by Wallbridge are listed in Table 1 below. Assay results for an additional 36 channel samples and an additional nine grab samples are pending. Sample locations are shown in Figure 1 - Compilation map of the Demorest Property found on our website at www.wallbridgemining.com under press releases.
A first phase of drilling with up to 400 metres of coring is expected to commence early in 2008.
|Outcrop #||Grab Sample #||Au||Ag||Cu||Pb|
Figure 1: Compilation Map of Demorest Property
Click to Enlarge
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 33 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.
The Qualified Person responsible for the technical content of this press release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge.
Wallbridge Mining Company Limited explores for and develops 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 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:
Alar Soever, President
Tel: (705) 682-9297
Email: [email protected]
Mara Strazdins, Vice-President, Investor Relations
Tel: (416) 369-1500 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.
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