COPPER-PGM STUDY: Broken Hammer pre-feasibility outlines pit and custom milling

ONTARIO – The Broken Hammer copper-platinum group project at Sudbury can be developed as an open pit with the ore custom milled off site, says owner Wallbridge Mining of Toronto. Production at a rate of 750 t/d could begin in early to mid 2012, and the identified resources mined over the following 12 months.

Capital costs to production are a mere $1.9 million. The net present value with an 8% discount will be $6.03 million, assuming the Canadian and U.S. dollars are at par. Operating costs per tonne of ore will be $131.99. Estimated earnings before interest, taxes, depreciation and amortization are estimated at $8.4 million.

The project has a probable in pit reserve of 196,000 tonnes grading 0.92% Cu, 0.10% Ni, 1.92 g/t Pt, 1.82 g/t Pd, 0.64 g/t Au and 6.02 g/t Ag.

More detailed information is available at WallbridgeMining.com in the press release dated Oct. 16, 2012.