TORONTO, Nov. 8 – Wallbridge Mining Company Limited (TSX: WM, FWB: WC7) today announced that Wallbridge and major platinum producer Lonmin Plc have approved CDN$1.25 million to explore for platinum and palladium, as well as copper and nickel, on their Sudbury Camp Joint Venture (“SCJV”) properties. The funding provides for up to 4,100 metres of diamond drilling and other exploration from October 1st, 2010 through September 30th, 2011.
“We appreciate the support and confidence that Lonmin continues to demonstrate in our Sudbury properties”, stated Alar Soever, President and CEO of Wallbridge, “We look forward to a successful 2011 program”.
Exploration in 2011 will focus on testing geological and geophysical targets within mineralized structures on the large Trill, Windy Lake, Skynner Lake and Creighton South Properties. Lonmin and Wallbridge will both contribute funds to the exploration program, with Lonmin contributing US$1.0 million, and Wallbridge contributing CDN$0.25 million for a Canadian dollar equivalent of approximately CDN$1.25 million, depending on exchange rate fluctuations during the budget year.
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