TORONTO, Nov. 5 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB: WC7) announced today that the Company will expand its drilling program on the Rogers Creek property to 2,500 metres on the basis of copper and molybdenum mineralization observed in diamond drill hole WRC-001.
The distribution of mineralization and alteration intersected in WRC-001 is consistent with many porphyry-style mineral deposits in South America and will be used to guide further drilling, which will test the core and margins of Target 1 breccia pipe.
"The early results of our drilling program are very encouraging," stated Alar Soever, President and CEO of Wallbridge. "The results confirm the cause of the blind subsurface IP anomalies is indeed copper-molybdenum mineralization, as we suspected. The additional drilling should help us gain enough information about this mineralization to be able to plan a much more extensive follow-up drilling program."
Copper and molybdenum sulphide mineralization (pyrite, chalcopyrite and molybdenite) in WRC-001 occurs as disseminations and in quartz-sulphide and sulphide veinlets up to 1 centimetre in width that are unevenly distributed between about 400 metres and about 725 metres depth. The sulphide mineral assemblages are spatially and temporally associated with very well-developed propylitic and phyllic alteration assemblages, both of which increase in intensity toward the core of the targeted IP anomalies. Figure 1, which can be viewed on our website at www.wallbridgemining.com, shows the location of the mineralization relative to its distribution relative to two IP anomalies on the western flank of Target 1, a 1.6 kilometre diameter breccia pipe.
The Rogers Creek property is located approximately 40 kilometres south of Pemberton in south-western British Columbia. Wallbridge completed a five line, 28 line-kilometre IP geophysical survey on the property during the summer of 2009 (see Wallbridge press release dated July 10, 2009). Prior to the start of drilling in early October, an exploration update was released (see Wallbridge press release dated October 8, 2009), which focused on new mineral discoveries in the vicinity of Target 1 as well as the discovery of copper-molybdenum mineralization (Target 4) on its First Mountain claim block located 18 kilometres to the south of Target 1. The current program is testing a number of IP geophysical targets in and around Target 1.
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 north-eastern Ontario.
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.
SOURCE Wallbridge Mining Company Limited
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 & CEO, Tel: (705) 682-9297, Email: email@example.com; Mara Strazdins, Vice-President, Investor Relations, Tel: (416) 369-1500 Ext. 222, Email: firstname.lastname@example.org