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Wallbridge estimates $4-million return on Broken Hammer

Wallbridge Mining Company Ltd. announced the results of a bulk sample program at its Broken Hammer property north of Sudbury, estimating a net smelter run of $4 million and estimated net proceeds of $2.
Northern Ontario Business Staff

Wallbridge Mining Company Ltd. announced the results of a bulk sample program at its Broken Hammer property north of Sudbury, estimating a net smelter run of $4 million and estimated net proceeds of $2.6 million after mining, milling, refining and treatment charges.

The numbers are based on average prices for copper, nickel, platinum, palladium, gold and silver in October.

This past summer, the company undertook a 30,500-tonne bulk sample, which was delivered to Xstrata Nickel's Strathcona Mill for processing.

In a news release, the company said metal recoveries were “similar to or better than typical Sudbury Basin copper, nickel, platinum, palladium and gold footwall-type deposits.”

Pre-feasibility and feasibility studies have been commissioned by Wallbridge, and a new NI 43-101 resource estimate is currently being completed.

Wallbridge currently holds a 98.5 per cent interest in the Broken Hammer property while Xstrata Nickel retains a 1.5 per cent carried interest with some buy-back provisions.