Press ReleasesSeptember 12, 2008
Wallbridge Mining Discovers Porphyry Gold-Copper Mineralization on BC Property
Toronto, Ontario - September 12, 2008 - Wallbridge Mining Company Limited (TSX: WM, FWB: WC7) has discovered mineralization within three target areas on their Rogers Creek copper-gold-molybdenum property, in south-western British Columbia approximately 40 kilometres south of Pemberton. The first two targets are defined within a 6 by 2 kilometre area of alteration and gold-copper mineralization with samples in quartz-sulphide veins returning up to 23.1 grams per tonne gold and 232 grams per tonne silver. The third target is defined by silt samples returning highly anomalous gold and silver values up to 2.3 grams per tonne gold and 436 ppb silver. The style of mineralization and alteration is consistent with a porphyry copper-gold-molybdenum system. A map can be viewed under Press Releases on our website www.wallbridgemining.com
The Rogers Creek property was acquired in February 2008 from a local prospector (see press release dated March 3, 2008). It comprises 93 claims covering 420 square kilometres of favourable geology. The summer 2008 work program consisted of 1434.6 line kilometres of high resolution helicopter-borne magnetic and VLF surveying, silt (149), soil (307) and rock (446) sampling, and mapping and prospecting. The property is located in an easily accessible area with excellent infrastructure including a major power line along the western edge of the property.
Targets 1 and 2
Airborne magnetic surveying and soil, silt and rock samples anomalous in copper, gold and silver have defined two large zones of alteration and associated gold-copper mineralization within a 6 kilometre by 2 kilometre area.. Both these zones are centred on two circular to elongate magnetic lows about 2 kilometres in diameter, which closely correspond to outcrops of highly altered, intrusive breccias. Anomalous silt samples in streams draining Targets 1 and 2 contain up to 800 ppb gold, 835 ppb silver and 73 ppm copper versus background values of approximately 2.5 ppb gold, 20 ppb silver and 15 ppm copper. Quartz-sulphide veins contain gold and silver values up to 23.1 gram per tonne gold, 232 grams per tonne silver, 0.69% copper and 81.4 ppm molybdenum. The style and distribution of alteration and mineralization associated with Targets 1 and 2 are consistent with a porphyry copper-gold-molybdenum environment.
Target 3 is located approximately 4 kilometres to the southwest of Target 2. It was defined by stream sediment samples containing highly anomalous values in gold and silver, quartz-pyrite stockworks exposed along road cuts, and talus boulders of a highly clay-altered intrusive breccia. Anomalous silt samples in streams draining Target 3 contain up to 2.3 grams per tonne gold and 436 ppb silver versus background values of 2.5 ppb gold and 20 ppb silver. Limited rock sampling returned values up to 0.4 g/t gold and 436 ppm copper. Target 3 appears to represent a moderate to high level epithermal vein system consistent with the porphyry copper-gold-molybdenum environment at Targets 1 and 2.
A 38 line-kilometre IP survey is planned for October with line cutting to begin by mid-September. The timing of the IP survey will coincide with a second stage of mapping and prospecting and be followed by a limited program of diamond drilling if weather permits.
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's primary focus is the exploration of nickel, copper and platinum group element ("PGE") deposits in the Sudbury area of Ontario. The Sudbury area hosts the world's largest concentration of nickel deposits and is currently the most active mining camp in North America. Major joint venture partners in Sudbury include Vale Inco, Xstrata Nickel, Lonmin Plc and Impala Platinum Holdings Limited. Wallbridge also has a major shareholding in Duluth Metals Limited, which has defined a large copper-nickel-PGE resource in the rapidly emerging Duluth Complex base metal camp in Minnesota. Wallbridge is also exploring a large porphyry copper-gold-molybdenum property in south-western British Columbia and has interests in copper-zinc and gold properties in northeastern Ontario.
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.