Press ReleasesOctober 15, 2009
Wallbridge Mining Starts Drilling on Rogers Creek Porphyry Copper, Gold and Molybdenum Property
Toronto, Ontario -- October 15, 2009 -- Wallbridge Mining Company Limited (TSX: WM, FWB: WC7) announced today that it has commenced drilling its Rogers Creek porphyry copper ("Cu"), gold ("Au") and molybdenum ("Mo") property in south-western British Columbia, located approximately 40 kilometres south of Pemberton. Drilling will consist of up to four holes for a total of 1500 metres of NQ core and will test IP and DC geophysical targets on the western contact of Target 1, a 1.6 kilometre diameter magnetic low that coincides with an intrusive breccia cored by a highly altered feldspar-porphyry intrusion.
"This property has advanced very rapidly from an exploration concept to drill stage", stated Alar Soever, President and CEO of Wallbridge. It is seldom work at every stage confirms the exploration model, and then geophysics identifies a drill target right where the geology indicates it should be. We look forward to seeing the cause of the very large chargeability anomaly in drill core"
Figure 1, which can be viewed on our website at www.wallbridgemining.com, illustrates the location of geophysical targets that will be drill-tested this fall in relation to Target 1 geology and surface mineralization.
Figure 2, which can be viewed on the Wallbridge website www.wallbridgemining.com, is an interpretative geological/geophysical section through Target 1 and illustrates the interpreted relationship between geology, surface mineralization, and the IP chargeability and DC resistivity anomalies along geophysical survey line 10200N, one of five geophysical lines that were surveyed across Targets 1 and 2 (see Wallbridge press release dated July 10, 2009).
Inversion of the IP chargeability data shows a large chargeability anomaly at depth to the west of and partially underneath the resistivity low that coincides with the core of Target 1. The low resistivity core is flanked and overlain by an IP chargeability anomaly that is interpreted on the basis of 2008 and 2009 field mapping to coincide with an enveloping pyritic shell and related base- and precious metal-enriched veins and vein stockworks.
A summary of exploration results from the 2009 summer field program can be found in a Wallbridge press release dated October 8, 2009.
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 & CEO
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, save and except as may be required by applicable securities laws.