Page 54 By Gregory Reynolds W allbridge Mining Company Limited s hopes of opening a copper and platinum group metal mine this year in Sudbury hinges on securing a milling contract Although the company has a number of undertakings Bro ken Hammer is the company s most advanced stage project On Oct16 2012 W allbridg e announced positive results from a prefeasibility study completed by Genivar Inc which demonstrates the viability of the project as an open pit mine with the ore treated at a custom mill facility A critic al path item to determ ine the schedule for the proj ect is securing a satisfactory milling and processing contra ct for the Broken Hammer ore Discussions with local millin g facilities in Sudbury have not resulted in a contract being fnalized As a result the company has been exploring other process ing options including but not limited to the possibility of processing the ore outside of Sudbury Feasibility of these options is dependent on the fnancial terms available which together with the potential for im proved metal recoveries may of fset the increased costs as sociated with these other options W allbridge is an established junior company formed in 1996 whose mission is to explore and develop platinum group element s PGEs in mining friendly jurisdictions of North America W allbridge is currently exploring and developing a lar ge package of properties in Sudbury Canada s premier mining district These include the prefeasibi lity stage Broken Ham mer developme nt project and signifcant exploration joint ventures with partners Lonmin plc Impala Plat inum Holdings Limited and Xstrata Nickel The Broken Hammer deposit occurs as vein stock workhosted copper and PGE mineralization with an indicated mine ral resource of 231100 tonnes averag ing 462 gt total precious metals TPM 201 gt Pt 190 gt Pd and 071 gt Au 092 Cu and 010 Ni This includes probable mine ral reserves of 196600 tonnes averaging 438 gt TPM 192 gt Pt 182 gt Pd and 064 gt Au 092 Cu and 01 Ni based on mining recovery of 95 and 5 dilution at zero grade quoting Roscoe Postle Associates Inc NI43 101 T echnical Report dated July 27 2012 Signifcantly the deposit remains open to depth and is interp reted to be part of a much lar ger mineralized system with lar gescale exploration upside T o date all permit applicatio ns have been submitted and the Production Closure Plan for Broken Hammer has been accep ted and fled by the Ontario Ministry of Northern Development and Mines Other permits with the Ontario Ministry of Natural Resources and the Environment are in progress The mineralization at Broken Hammer is part of a much lar ger mineralized system that is open to depth and along strike and has very signifcant exploration upside The prefeasibil ity study recom mended that the proj ect proceed to a full feasibility study to include se curing necessary permits a milling and processing contract and mining contracts in order to support a decision by W allbridge s board of directors to pro ceed with production W allbridge holds 101 M shares 83 of Duluth Metals Limited a spinout company created in 2005 to fnance exploration and development of mining interests in the Duluth Complex in northeast Minne sota USA The Duluth Complex hosts one of the world s lar g est undeveloped repositories of copper nickel and PGEs and is the world s third lar gest accumulation of nickel sulphide Duluth Metals principal asset the Nokomis project is being develo ped through T win Metals Minnesota a joint venture company which is 60 owned by Du luth Metals and 40 owned by Antofagasta plc one of the lar gest copper producers globally In 201 1 T win Metals acquir ed Franconia Minerals Corporation This acquisition consolidated four min Milling contract key need for new mine W allbridge Contd on pg 56