Canadian mineral explorer Wallbridge Mining (TSE:WM) announced Monday further drill results from its Broken Hammer copper and platinum group metals project in Sudbury, which have extended mineralization to the east and the north.
The company reported results from 5 holes, part of the current 1,600 metre drill program at the property, designed to expand mineralization from where it is now exposed in the recently excavated bulk sample pit.
Highlights include 3.9 metres of 30.33 g/t total precious metals (which includes platinum, palladiium and gold grades), 0.5% copper and 0.03% nickel in hole WIS-102; and 5.9 metres of 5.37 g/t total precious metals, 0.21% copper and 0.02% nickel in hole WIS-098.
Wallbridge, which holds a 98.5% interest in Broken Hammer, said that drilling is now underway to expand the resource in the west end.
The Broken Hammer Zone was discovered as a result of an ongoing grass roots exploration program on the North Range of the Sudbury Basin. In November 2005, the NI 43-101 compliant inferred resource was estimated to be 251,000 tonnes at a grade of 3.8 g/t total precious metals, 1.00% copper and 0.10% nickel.
A new resource estimate and feasibility study will be completed using current metal prices, once results of the drilling program are available. Xstrata Nickel retains a 1.5% carried interest in the property, with some buy back provisions.