TORONTO, June 17, 2014 /CNW/ – Wallbridge Mining Company Limited (TSX: WM, FWB: WC7) (“Wallbridge”) today announced that it started delivering the first shipments of ore from its Broken Hammer open pit mine in Sudbury, Ontario to the Redstone mill operated by Northern Sun in Timmins, Ontario.
During the last few weeks, Wallbridge and its mining & transportation contractor William Day Construction Limited have built an ore stockpile of approximately 15,000 tonnes and continue to mine at an average rate of approximately 800 tonnes of ore per day. Wallbridge plans to deliver enough ore between now and when milling commences in late June to maintain an ore stockpile equivalent to two weeks of processing.
“We are pleased with the progress of construction and concurrent mining at the Broken Hammer site. Now that the half-load restrictions are lifted across municipal roads, we can deliver our Broken Hammer ore for processing,” Marz Kord, President & CEO of Wallbridge stated, “With the Redstone Mill on schedule for startup in late June, we look forward to delivering our first concentrate to the smelter early in July and realizing value for our shareholders”.
About Wallbridge Mining
Wallbridge Mining Company Limited (WM:TSX) is currently operating its first polymetallic mine, producing copper, platinum, palladium, and gold from the Broken Hammer open pit mine in Sudbury, Ontario, Canada’s premier mining district.
Wallbridge is also actively exploring a large package of properties in Sudbury, including operating several significant exploration joint ventures with partners Lonmin Plc, Impala Platinum Holdings Limited and Glencore in Sudbury.
In 2005, Wallbridge created Duluth Metals Limited (TSX:DM) to explore and develop projects in Minnesota, USA. Duluth Metals has since defined the world’s largest undeveloped sulfide platinum group metals, copper and nickel deposit which it is developing through Twin Metals Limited, a joint venture with copper producer Antofagasta Plc. Wallbridge currently retains 10.1 million shares of Duluth Metals (7.4%).
In 2010, Wallbridge created Miocene Metals Limited (TSXV:MII) to explore and develop porphyry copper-gold-molybdenum projects in British Columbia, Canada, within a previously under-recognized belt of Miocene-age intrusions. These projects are early stage with large mineralized structures and alteration zones that are ready for drilling with potential for large tonnage deposits. Miocene is currently in the process of merging with Carube Resources Inc. which has an attractive portfolio of copper-gold exploration properties in Jamaica which are joint ventured with OZ Minerals. Wallbridge currently retains 28.4 million shares of Miocene Metals (40.5%).
Wallbridge has a record of successfully generating high potential mineral projects and structuring partnerships and new companies to create value for its shareholders and its partners.
This press release may contain forward-looking statements: Click here for rest of forward-looking statements: http://www.newswire.ca/en/story/1374175/wallbridge-delivers-first-shipments-of-ore-from-broken-hammer
SOURCE Wallbridge Mining Company Limited
For further information: Please visit the Company’s website at www.wallbridgemining.com, or contact:
Wallbridge Mining Company Limited, Joshua Bailey, M.Sc., P.Geo, Vice President, Exploration, Tel: (705) 682-9297 ext. 240, Email: email@example.com;
Linda Zubal, Vice President Corporate Communications, Tel: (705) 682-9297 ext. 263, Email: firstname.lastname@example.org