Wallbridge Intersects Further High-Grade Ni-Cu-PGMs at Shallow Depths at Parkin
Wallbridge Intersects Further High-Grade Ni-Cu-PGMs at
Shallow Depths at Parkin
TORONTO
,
June 19, 2017
/CNW/ -
Wallbridge Mining Company Limited (TSX:WM, FWB: WC7)
("
Wallbridge
") is pleased to
announce that ongoing partner-funded exploration drilling continues to expand the high-grade polymetallic nickel, copper, and platinum group metal
("Ni-Cu-PGM") mineralization at shallow depths on the Parkin properties ("Parkin") in
Sudbury, Ontario
.
Highlights
:
Drill hole WMP-211 intersected 1.09% nickel, 0.74% copper, 0.68 g/t platinum, 0.71 g/t palladium, and 0.13 g/t Au over 6.08 metres
from 222.73 metres down-hole;
Drill hole WMP-212 intersected 1.09% nickel, 0.85% copper, 1.19 g/t platinum, 2.35 g/t palladium, and 0.29 g/t Au over 6.24 metres
from 248.00 metres down-hole;
WMP-211 and WMP-212 intersections occur along the same modelled flexure in the Offset dyke with borehole geophysics support for
step-out drilling on the zone;
WMP-212 which intersected 11.85 g/t Au over 1.09 metres from 171.91 metres down-hole.
"Exploration drilling on our Parkin properties in
Sudbury, Ontario
, is successfully expanding the near surface Ni-Cu-PGM mineralization while also
testing for larger targets along the entire Parkin Offset dyke," stated
Marz Kord
, President and CEO of Wallbridge, "Exploration drilling on our
Fenelon Gold
property in
Quebec
is also progressing well and we look forward to releasing an update on that program once initial assay results
are available".
Both drill holes WMP-211 and WMP-212 successfully tested conductive borehole geophysics anomalies within a significant gap in the drilling at
about 180 metres depth from surface. Previous drill hole P-58 was also drilled in this area and intersected 1.02% nickel, 1.90% copper, 2.18 g/t
platinum, 1.55 g/t palladium, and 1.14 g/t Au over 1.65 metres from 344.00 metres down-hole. All three intersections are interpreted to occur
within the same east-dipping flexure in the Parkin Offset dyke.
Figure 1. Composite
Long Section
of Parkin:
http://www.wallbridgemining.com/i/maps/20170613_AA_ParkinLongitudinal-Figure1.pdf
Figure 2. Composite
Long Section
of Parkin (detail):
http://www.wallbridgemining.com/i/maps/20170613_BB_ParkinLongitudinal_V2-
Figure2.pdf
Table 1. Ni-Cu-PGM Drill Assay Results at Parkin
Drill Hole
From
To
Length*
Ni
Cu
TPM**
Pt
Pd
Au
(m)
(m)
(m)
(%)
(%)
(g/t)
(g/t)
(g/t)
(g/t)
WMP-206
485.31
488.00
2.69
0.31
0.25
0.35
0.16
0.15
0.04
WMP-207
Weakly mineralized IQD, no significant assays
WMP-208
Weakly mineralized IQD, no significant assays
WMP-209
72.43
72.74
0.31
0.34
0.16
0.81
0.37
0.35
0.08
74.43
75.06
0.63
1.90
0.69
1.22
0.44
0.55
0.23
WMP-136
Gold assays shown below
WMP-210
Weakly mineralized IQD, gold assays shown below
WMP-211
222.73
228.81
6.08
1.09
0.74
1.51
0.68
0.71
0.13
Including…
222.73
223.38
0.65
2.04
0.38
2.08
0.77
1.14
0.16
And…
226.60
228.81
2.21
2.28
1.48
3.04
1.40
1.40
0.24
WMP-212
248.00
254.24
6.24
1.09
0.85
3.84
1.19
2.35
0.29
Including…
248.00
248.32
0.32
0.66
3.29
2.23
0.50
1.64
0.09
And…
250.43
254.24
3.81
1.67
0.94
5.52
1.71
3.43
0.38
*Drill core length, true width is approximately 70-90% of drill core length.
** Total precious Metals ("TPM") equals Pt + Pd + Au
In addition to the Ni-Cu-PGM mineralization, Wallbridge continues to find high-grade gold mineralization associated with quartz-carbonate-sulfide
veins cutting the Archean volcanic rocks adjacent to the Parkin Offset dyke. To date, 24 drill intersections have returned between 0.92 and 44.00
g/t gold at Parkin. Highlights from the most recent drilling include:
The extension of drill hole WMP-136 intersected 4.29 g/t Au over 0.57 metres from 419.47 metres down-hole;
Drill hole WMP-210 intersected 2.10 g/t Au over 1.45 metres from 191.94 metres down-hole and 1.4 g/t Au over 0.45 metres from
198.55 down-hole and;
Drill hole WMP-212 intersected 11.85 g/t Au over 1.09 metres from 171.91 metres down-hole.
Samples were prepared at ALS Chemex Ltd. laboratories in
Sudbury
and then shipped to their analytical facilities in
Vancouver
. Samples were
analyzed for Au, Pt, and Pd by standard lead oxide collection fire assay fusion with an atomic emission spectrometry (ICP-AES) finish. Samples
were analyzed for base metals, silver and trace elements using a four acid (HCIO4-HNO3-HF and HCI) near total digestion and a combination of
ICP-MS and ICP-AES finish. Cu and Ni over-limits or samples submitted as ore grade were analyzed using HNO3-HClO4-HF-HCl acid
digestion, HCl leach and ICP-AES (some conditions require an AA finish). Sulphur over-limits were analyzed using Total Sulphur by LECO.
The Qualified Person responsible for the technical content of this press release is
Joshua Bailey
, P.Geo., M.Sc., MBA, Vice President Exploration
for Wallbridge Mining Company Limited. Mr. Bailey has prepared, supervised and approved the scientific and technical disclosures in this press
release.
About Wallbridge Mining
Wallbridge is establishing a pipeline of projects that will support sustainable production and revenue as well as organic growth through exploration
and scalability.
Wallbridge is currently preparing to develop its 100%-owned high-grade gold Fenelon Gold Property in
Quebec
with exploration underway and a
bulk sample and production decision targeted for 2017. Wallbridge is also in discussions regarding several other advanced stage projects which
could become the Company's next mines. These discussions benefit from the operating capabilities Wallbridge demonstrated by safely and
efficiently mining the Broken Hammer deposit in
Sudbury
, which was completed in
October 2015
. Wallbridge is also continuing active partner-
funded exploration on its large portfolio of nickel, copper, and PGM projects in
Sudbury, Ontario
. Currently, Wallbridge is completing a 20,000
metre fully partner-funded drilling program on its high-grade Parkin nickel-copper-PGM project.
Wallbridge also has exposure to active exploration for copper and gold in
Jamaica
and
British Columbia
through its 11.2% ownership of Carube
Copper Corp. (CUC:TSX-V, formerly Miocene Resources Limited).
This press release may contain forward-looking statements (including "forward-looking information" within the meaning of
applicable Canadian securities legislation and "forward-looking statements" within the meaning of the US Private Securities
Litigation Reform Act of 1995) relating to, among other things, the operations of Wallbridge and the environment in which it
operates. Generally, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved". Wallbridge has relied on a number of assumptions and estimates in making
such forward-looking statements, including, without limitation, the costs associated with the development and operation of its
properties. Such assumptions and estimates are made in light of the trends and conditions that are considered to be relevant and
reasonable based on information available and the circumstances existing at this time. A number of risk factors may cause actual
results, level of activity, performance or outcomes of such exploration and/or mine development to be materially different from those
expressed or implied by such forward-looking statements including, without limitation, whether such discoveries will result in
commercially viable quantities of such mineralized materials, the possibility of changes to project parameters as plans continue to be
refined, the ability to execute planned exploration and future drilling programs, the need for additional funding to continue
exploration and development efforts, changes in general economic, market and business conditions, and those other risks set forth in
Wallbridge's most recent annual information form under the heading "Risk Factors" and in its other public filings. Forward-
looking statements are not guarantees of future performance and such information is inherently subject to known and unknown
risks, uncertainties and other factors that are difficult to predict and may be beyond the control of Wallbridge. Although Wallbridge
has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors and risks that cause actions, events or results not to be as
anticipated, estimated or intended. Consequently, undue reliance should not be placed on such forward-looking statements. In
addition, all forward-looking statements in this press release are given as of the date hereof.
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. The forward-looking
statements contained herein are expressly qualified by this disclaimer.
SOURCE
Wallbridge Mining Company Limited
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For further information:
Please visit the Company's website at www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited,
Joshua Bailey, P.Geo., M.Sc., MBA, Vice President Exploration, Tel: (705) 682-9297 ext. 240, Email: [email protected]; Linda
Zubal, Vice President Corporate Communications, Tel: (705) 682-9297 ext. 263, Email: [email protected]
CO: Wallbridge Mining Company Limited
CNW 09:44e 19-JUN-17