ONTARIO – The directors of Toronto’s Wallbridge Mining Co. have approved the development of the Broken Hammer copper-platinum group metals project near Sudbury. The company intends to spend another $1.04 million at the property to bring it into production within the next year.
Broken Hammer will be an open pit with a mining rate of 800 tonnes of ore daily. Mining will be done by local contractor William Day Construction. The ore will be trucked to Northern Sun‘s Redstone mill in Timmins for treatment. The deposit contains 259,500 indicated tonnes grading 0.88% Cu, 0.1% Ni, 2.32 g/t Pt, 2.1 g/t Pd, 0.77 g/t Au and 6.95 g/t Ag.
Walbridge estimates that the project will generate an earning before interest and taxes of $5.84 million and a net cash flow of $4.8 million.
The company cautioned that its Broken Hammer production decision was based on information collected for a 2012 pre-feasibility study; no feasibility study was done.
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