NICKEL-COPPER-PM RESOURCE: Wallbridge updates numbers for Broken Hammer

ONTARIO – Wallbridge Mining of Toronto says it has reached a milestone by updating the resource estimate for its Broken Hammer nickel-copper-precious metals zone near Sudbury. The total indicated resource is now 231,100 tonnes at a grade of 4.52 g/t total precious metals (1.90 g/t Pd, 2.01 g/t Pt, and 0.71 g/t Au), 0.92% Cu, and 0.10% Ni and 6.35 g/t Ag.

The company hopes to make a production decision in Q4 2012. The permitting and closure plan are on schedule for completion by then, and the pre-feasibility study will be done in Q3.

In 2011 Walbridge sent a 30,000-tonne bulk sample from Broken Hammer to Xstrata’s nearby Strathcona mill. Metal recoveries were in line with typical Sudbury ores, said Wallbridge, and the net proceeds after mining and processing costs were $3 million, a net return of $98/tonne of ore.

Additional information about the Broken Hammer project and Wallbridge’s many joint ventures is available at WallbridgeMining.com.