Wallbridge Mining reports promising find near Capreol
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Wallbridge Mining Company says it has uncovered what it is calling massive sulfide nickel-copper and platinum group metals mineralization on one of its Sudbury properties.
"The Parkin properties have high quality near-surface exploration targets and also have significant potential at depth evident from the presence of a surface resource and a past producing mine, as well as significant mineralization intersections at depth in the Milnet 1500 Zone," Marz Kord, president and CEO of Wallbridge, said in a release.
"We are working to attract new partner financing to advance the Parkin properties and in the meantime we add value by further exploration on the properties."
The Parkin properties are located north of Capreol.
Wallbridg said the properties (Parkin, Milnet, CBA Parkin, and Parkin East) cover a 9.4-km strike length of the Parkin Offset dyke, which hosts nickel, copper, and platinum group metals mineralization, including:
-- the near-surface Parkin Resource;
-- the past-producing Milnet Mine;
-- the high-grade Milnet 1500 Zone; and
-- numerous high-grade showings, high-grade drill intersections and off-hole electromagnetic geophysical conductors.
Mechanical stripping has exposed six areas with massive, semi-massive, and net textured sulfide mineralization at the surface expression of the Parkin Resource. The individual mineralized lenses range from two to 10 metres in width and up to 25 metres strike length and occur along a 700 metre strike length of the Parkin Offset dyke.
Wallbridge began the mechanical stripping to determine the continuity of the mineralization and to better understand the geological controls on mineralization to help target further exploration. The work follows what the company called a successful drilling program this spring, which demonstrated significant near-surface resource expansion potential at Parkin.
Pressure washing and detailed mapping of the exposed areas is underway and will be followed by systematic channel sampling this summer.
Nickel, copper and platinum group metals mineralization on Wallbridge's Parkin Properties is typical of that hosted by quartz diorite offset dykes in the Sudbury mining camp, the company said. Examples include the "prolific deposits at Vale's North and South Mines hosted by the Copper Cliff Offset dyke; Vale's Totten deposit under development in the Worthington Offset Dyke and KGHM International Ltd.'s recent discovery on its Victoria project, also hosted in the Worthington Offset dyke."
Sudbury-based Wallbridge is operating its first polymetallic mine, producing copper, platinum, palladium and gold from the Broken Hammer open pit mine, also north of Capreol.
Wallbridge said is is also actively exploring a large package of properties in Sudbury, including operating several significant exploration joint ventures with partners Lonmin Plc and Glencore.
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