Latest NewsWallbridge Mining Finds Second Offset Dyke on North Range Property
TORONTO, Nov. 23 /CNW/ - Wallbridge Mining Company Limited (TSX: WM,
FWB: WC7) today announced that work on its Pele Mountain Resources
(TSX VENTURE: GEM) joint venture property has resulted in the discovery of a
second offset dyke and extended the offset dyke found last year 3.5 kilometres
northward to the northern boundary of the property.
The new offset dyke was discovered in the southeast corner of the
property in a road outcrop approximately 1 kilometre west of last year's
discovery. The discovery has been confirmed by whole rock and trace element
analysis and petrographic study of outcrop samples. The new dyke has been
exposed by trenching over a distance of about 60 metres and ranges in width
between 4 and 6 metres. Trench mapping indicates the dyke is open along strike
to the north and south.
Sulphide boulders discovered last year are located approximately
50 metres to the southeast of the new dyke but it is not known if the two are
related. Geochemical analysis of samples of the sulphide boulders is underway
to determine if they have a genetic link to the new dyke or other
Sudbury-related mineralization.
Prospecting and mapping are underway to extend the new dyke along strike
to the north and south, and define exploration targets along it.
A detailed mapping program in August and September extended the main Pele
offset dyke an additional 3.5 kilometres to the north. Where exposed the dyke
retains its width of 10 to 30 metres. Work is ongoing to develop drill targets
on this structure.
Elsewhere on this large property work has defined a previously
undocumented, major breccia belt. The breccia belt is oriented roughly
concentrically to the contact of the Sudbury Igneous Complex ("SIC") and
consists of broken fragments of host rock gneisses in a very fine-grained,
strongly foliated rock flour matrix. Selected samples of the breccia contain
weakly anomalous concentrations of Pt and Pd (PGE), and pathfinder elements,
which are enriched in similar breccias that host Cu-PGE mineralization at
Xstrata's Strathcona Mine and FNX's McCreedy West Mine in the Levack Trough
about 8 kilometres to the south.
Commenting on these latest results Alar Soever, President of Wallbridge
stated, "The discovery of a second offset dyke so early in the program
validates our North Range exploration strategy which is founded on the belief
that the footwall rocks are very poorly explored and a great deal of Sudbury
geology and mineralization remains to be discovered. It demonstrates the
strong exploration potential of the Pele Property and the other North Range
Property we acquired last year. The offset dyke environment can be highly
mineralized as demonstrated by CVRD/Inco's extensive operations along the
Copper Cliff Offset and the potential reopening of the Totten Mine on the
Worthington Offset."
Field samples were prepared at ALS Chemex Ltd. Laboratories in Sudbury
and then shipped to their analytical facilities in Vancouver. Samples were
analyzed for major elements by lithium metaborate fusion with an ICP-AES
finish and rare earth elements by ICP-MS.
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 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.
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.
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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: asoever@wallbridgemining.com;
Mara Strazdins, Vice-President, Investor Relations, Tel: (416) 710-0646,
Email: mstrazdins@wallbridgemining.com
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