Wallbridge eyes mine near Capreol – by Star Staff (Sudbury Star – August 1, 2012)

The Sudbury Star is the City of Greater Sudbury’s daily newspaper.

A Sudbury-based mining company says it will decide later this year whether it can bring a new mine north of Capreol into production. Wallbridge Mining Company Limited issued the statement in a mid-year exploration update released Tuesday.
 
The company said its Broken Hammer exploration project continues to produce promising results for copper and platinum group element minerals.
 
“Our 2012 exploration activities to date have continued at a high level, in contrast to the lower level of activities by many other junior mining companies,” Marz Kord, Wallbridge president and CEO, said in a release. “This is mainly due to the strong support we have received from our joint venture partners.”
 
“In addition to our exploration activities, our new resource update at Broken Hammer project is encouraging. The prefeasibility and permitting are on track and pending the results, would enable us to make a production decision this year.”
 
At Broken Hammer, Wallbridge said it has now received the proceeds of its 2011 bulk sample from Xstrata. The bulk sample created a net smelter return of about $4.1 million, or $143 per tonne, and a net cash flow of about $2.9 million or $98 per tonne.
 
Wallbridge said its expects to finish its Broken Hammer prefeasibility study in the third quarter. Permitting and a production decisions at Broken Hammer are expected in 2012, the company said.
 
While Wallbridge owns the Broken Hammer project, most of the company’s exploration activities in the Sudbury area are joint efforts.
 
For example, Wallbridge said its Wisner properties, located next to Broken Hammer, have significant unexplored potential for large high-grade copper and platinum group element deposits similar to Vale’s recent Capre discovery, KGHM’s recent Morrison Deposit discovery, and the footwall portion of Xstrata’s Nickel Rim South Mine.
 
The Wisner project is a joint venture with Xstrata Nickel.
 
Other Sudbury-area projects include:
 
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