TORONTO, March 7, 2012 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB: WC7) ("Wallbridge") today announced that a large-loop ground electromagnetic (EM) geophysics program has been initiated on its Booth River nickel, copper and platinum group element project in Nunavut. Detailed compilation and modelling of existing data has identified over 12 airborne EM conductors associated with gossans, contact zones and in several cases disseminated nickel and copper mineralisation. The ground based EM surveys are underway to constrain drilling targets for follow-up.
The Booth River project includes 300 square kilometers of claims covering the Paleoproterozoic mafic Booth River Intrusive Complex which is interpreted by the Geological Survey of Canada to be part of a magmatic system larger in size than the Sudbury Igneous Complex. It occurs within a failed tectonic rift along the margin of the Archean Slave Craton. This is a similar crustal scale environment as many of the largest nickel, copper and platinum group element districts globally; examples include Noril'sk-Talnakh in Russia, Jinchuan in China, and Duluth in Minnesota, USA.
Previous work on the property is limited to minor surface work; 13 drill holes totalling about 1200 metres from 1958, 1984, and 2006; and an airborne EM survey flown at 200 metre spacing in 2004.
The Qualified Person responsible for the technical content of this press release is Joshua Bailey P.Geo., Vice President Corporate Development For Wallbridge Mining Company Limited.
About Wallbridge Mining
Wallbridge Mining Company Limited (WM:TSX) is an established metals company working to build sustainable growth for investors through discovery and development of mineral resources.
Wallbridge specializes in nickel, copper, platinum, palladium and gold projects in mining friendly jurisdictions of North America, with a particular focus on Sudbury, Ontario. Wallbridge's position in Sudbury offers unique large-scale discovery upside in Canada's premier mining district.
Wallbridge has a record of generating high potential projects and financing exploration through joint ventures or spin-out companies. Wallbridge has 48 exploration to pre-feasibility stage mineral projects. These include 12 joint ventures with partners Impala Platinum Holdings Limited, Lonmin Plc, Xstrata Nickel and a number of junior mining companies.
Wallbridge also holds significant equity interests in spin-out companies Duluth Metals Limited (DM:TSX) and Miocene Metals Limited (MII:TSV).
This document may contain forward-looking statements relating to operations of Wallbridge or its subsidiaries or to the environment in which they operate. 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.
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Wallbridge Mining Company Limited