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Wallbridge Mining makes development decision for Ontario flagship

Wallbridge Mining makes development decision for Ontario flagship

Photo by Bloomberg

18th March 2014

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

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TORONTO (miningweekly.com) – Toronto- and Frankfurt-listed Wallbridge Mining on Tuesday announced that its board had approved a development decision for the Broken Hammer copper/platinum group elements (PGEs) project in Sudbury, Ontario.

The Broken Hammer project would be an openpit operation that would extract about 195 000 t of in-pit copper/nickel/PGEs by making use of a local mining contractor.

The ore would be transported to Northern Sun's Redstone facility, in Timmins, and subsequently the concentrates are under a contract with a nearby copper smelter. The definitive agreement with Northern Sun was expected to be finalised this week and the construction and production were expected to start in April.

The total capital cost to build the Broken Hammer openpit had been estimated at about C$1.04-million, including a 10% contingency.

The openpit mining was expected to be complete within 10 to 12 months at an average daily rate of about 800 t/d.

"Based on the results of the 2011 bulk sample and the 2012 prefeasibility study, as well as the contract mining and milling and smelting terms which have now been secured, the Broken Hammer project has the potential to not only generate positive cash flow in the near future, but is also open at depth and to the west leaving the possibility of extending its mine life,” said Wallbridge president and CEO Marz Kord.

Wallbridge holds a large package of properties in Sudbury, including Broken Hammer and had entered into joint ventures with big platinum companies, such as UK-listed Lonmin and South Africa's Impala Platinum.

Kord added that the firm had started an aggressive geophysics and drilling programme on the bordering Wisner properties, where it is looking for possible mineral extensions and new targets.

Edited by Creamer Media Reporter

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