Press ReleasesJune 10, 2008
Wallbridge Mining Begins Rogers Creek Copper-Molybdenum-Gold Exploration Program in SW British Columbia
Toronto, Ontario - June 10, 2008 - Wallbridge Mining Company Limited (TSX: WM, FWB: WC7) is pleased to announce that the 2008 exploration program has commenced on their Rogers Creek Copper-Molybdenum-Gold porphyry property located about 40 kilometres south-east of Pemberton, in south-western British Columbia. The initial phase of the program will consist of about 1,400 line-kilometres of helicopter-borne magnetic and VLF geophysical surveying, followed by mapping, prospecting, rock, silt, and heavy mineral concentrate sampling, ground geophysics and then drilling.
The Rogers Creek property was acquired in February 2008 from a local prospector following a due diligence period during which limited reconnaissance sampling of both rock and soil defined a broad, geochemically anomalous trend that extends for 4 km around the original discovery showing. As reported in a March 3, 2008 press release, rock samples taken contain values up to 1330 ppm copper, 150 ppm molybdenum, and strongly anomalous lead and zinc in the vicinity of the original showing. Soil samples taken contain up to 327 ppm copper, 773 ppm lead, and 520 ppm zinc and one soil sample contained 8.62 ppm gold. In April, the property was expanded to the east and south and now consists of 93 claims covering 420 square kilometres of favourable geology. The airborne geophysical survey was started in late May and as of this date, approximately one-third has been completed.
A possible porphyry copper system on the property is indicated by the geochemical anomaly, which roughly follows the boundary between a magnetic low centred on the northern lobe of the host intrusive and a flanking magnetic high. Soil samples appear to define two overlapping geochemical trends, the first with samples that are enriched in Ag, Pb, Zn, As, and Ba occurring for about a kilometre around the original discovery cross-cutting a second, broader trend, which extends for several kilometres to the northeast and southwest that is enriched in Cu, Ag, Au and Mo. Rock samples show a similar zonation, though sampling is limited and the values are more sporadic.
Rock samples exhibit weak propylitic to argillic alteration consistent with a porphyry copper environment. Analyses of the regional geological/structural setting indicates that the host pluton(s) was emplaced along one or more northeast-trending crustal transfer faults within a similar geodynamic/tectonic setting as giant Copper-Molybdenum-Gold deposits in South America and Indonesia.
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 primarily 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. Wallbridge has volcanic-hosted copper-zinc and gold properties in Ontario and a large porphyry copper-molybdenum-gold property in south-western British Columbia. Wallbridge is actively seeking joint venture partners for projects outside of the Sudbury area.
For Further Information
Please visit the Company's website at www.wallbridgemining.com, or contact:
Wallbridge Mining Company Limited
Alar Soever, President Mara Strazdins, Vice-President, Investor Relations
Tel: (705) 682-9297 Tel: (416) 710-0646
Email: [email protected]
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.