Wallbridge sees continuity in Parkin nickel project

Drilling by Wallbridge Mining (WM-T) on the Parkin dyke, 65 km northeast of Sudbury, Ont., is indicating that known mineralization is continuous at depth and that the mineralized zones may plunge to the south.

Wallbridge has drilled 56 holes, for a total of 7,008 metres, on the prospect. Of the most recent 36 holes, 11 intersected significant nickel-copper mineralization.

Among the better intersections encountered was a 16-metre intersection that graded 1% nickel and 0.44% copper, with 0.41 gram platinum and 0.64 gram palladium per tonne. The intersection also carried some gold and cobalt values.

An 8.6-metre intersection in another hole ran 1.09% copper and 0.52% nickel, with 1.82 grams platinum and 1.45 grams palladium.

The bulk of the holes intersected mineralization over core lengths ranging from a fraction of a metre to about 3 metres. Copper and nickel grades are typically under 1% each. Platinum and palladium values close to a gram per tonne are not unusual in the mineralized zones.

Wallbridge is earning a half-interest in the property from Falconbridge (FL-T). The agreement requires Wallbridge to spend $2 million on exploration of four Sudbury-area properties, including the Parkin, by July 2004. Five deep drill holes are planned, which will follow the dip of the dyke to provide locations for down-hole electromagnetic surveys.