JOHANNESBURG (miningweekly.com) – TSX-listed Wallbridge Mining is working to attract new partner financing to advance its nickel, copper and platinum-group metals Parkin properties project, in Ontario, following mechanical stripping and fieldwork.
The miner noted on Friday that the fieldwork exposed six areas with massive, semimassive and net-textured sulphide mineralisation at the surface expression.
The individual mineralised lenses ranged from 2 m to 10 m in width, had a strike length of up to 25 m and occurred along a 700 m strike length of the Parkin Offset dyke.
Pressure washing and detailed mapping of the exposed areas were also currently under way and would be followed by systematic channel sampling.
"The Parkin properties have high-quality, near-surface exploration targets and also have significant potential at depth, evident from the presence of a surface resource and a past producing mine, as well as significant mineralisation intersections at depth in the Milnet 1500 zone,” Wallbridge CEO and president Marz Kord said.
Meanwhile, the company had also made a minimum initial cash payment of $100 000 to JSE-listed Impala Platinum (Implats) to maintain the option of purchasing Implats’ entire remaining 49.6% interest in the Parkin development joint venture at a substantial discount to Implats' $7.2-million past expenditure by making cash payments over five years.
The $100 000 payment was due on or before June 30.