Entering text into the input field will update the search result below

Wallbridge Mining expands mineralization at Broken Hammer in 2 directions

May 16, 2011 11:14 AM ETWM
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

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.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.