TORONTO, June 10 /CNW/ - 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.
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.
For further information:
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@example.com;
Mara Strazdins, Vice-President, Investor Relations, Tel: (416) 710-0646,