Plans for Wallbridge Mining Company Ltd. in 2012 include advancing its Broken Hammer copper-platinum group element (PGE) project through feasibility and completing over 15,000 metres of exploration diamond drilling on its Sudbury area projects.
Drilling is ongoing, focused on joint venture projects with partners Impala Platinum Holdings Limited , Lonmin PLC and Xstrata Nickel.
"We will build on our recent success at Broken Hammer and Parkin," said Alar Soever, CEO of Wallbridge, in a news release. "And we look forward to continuing our successful strategy of generating high-potential nickel, copper and platinum group element exploration projects and advancing these through joint ventures or spinout companies."
"The planned exploration work in 2012, a more aggressive program than 2011, will continue to focus on Sudbury, Canada's premier mining region," stated Wallbridge president Marz Kord in the release. "In terms of metal endowment, infrastructure, community support and regulatory stability, Sudbury is the most attractive place in the world to explore for and develop large-scale copper, nickel and PGE mining projects."
At its Broken Hammer copper-PGE project, Wallbridge completed a 30,000 tonne open-pit bulk sample in 2011. This was processed at Xstrata's Strathcona Mill in Sudbury and resulted in a net smelter return of about $4.0M and estimated net proceeds of about $2.6M or approximately $86 per tonne.
Wallbridge has since contracted Wardrop, a Tetra Tech Company, to update the mineral resource estimate and complete feasibility studies. Permitting and a production decision at Broken Hammer are expected in 2012.
Drilling is additionally planned for a number of other Wallbridge properties in the area through the year.
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