PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: Pele Mountain Resources

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Wallbridge Mining Company to Continue Exploration at Pele Mountain's Sudbury Nickel Project - Pele Mountain Resources, Inc. announced that Wallbridge Mining Co. Ltd has fulfilled its option commitment at Pele’s Sudbury Nickel Project through 2008 by spending an add. $300K on qualifying exploration expenditures [TSX: WM FWB: WC7]
Wallbridge Mining Company to Continue Exploration at Pele Mountain's Sudbury Nickel Project

 

NewswireToday - /newswire/ - Toronto, Ontario, Canada, 2009/01/09 - Pele Mountain Resources, Inc. announced that Wallbridge Mining Co. Ltd has fulfilled its option commitment at Pele’s Sudbury Nickel Project through 2008 by spending an add. $300K on qualifying exploration expenditures [TSX: WM FWB: WC7]. TSX Venture: GEM

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Mining/Metal/Mineral Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Pele Mountain Resources Inc. (“Pele” or the “Company”) announced today that Wallbridge Mining Company Ltd (“Wallbridge”) has fulfilled its option commitment at Pele’s Sudbury Nickel Project through 2008 by spending an additional $300,000 on qualifying exploration expenditures in 2008 and by recently issuing an additional 400,000 of its common shares to Pele.

Symbol: GEM
Listing: TSX Venture Exchange
Common Shares Outstanding: 90,900,278

Wallbridge is expected to complete its earn-in of a 60-percent interest in the project by spending an additional $500,000 on exploration by year-end 2009 and can increase its interest to 72.5-percent by completing a bankable feasibility study and arranging project financing through to commercial production. The Option agreement at Sudbury demonstrates Pele’s corporate strategy to joint-venture and/or monetize non-core assets in order to focus on development of its Eco Ridge Mine uranium project in Elliot Lake.

The Sudbury project covers approximately 14,000 acres on the North Range of the prolific Sudbury Mining Camp of Northern Ontario. Past exploration by Pele and Wallbridge has discovered two new offset dikes and an extensive belt of Sudbury Breccia on the Pele property. Offset dikes in the Sudbury area have hosted extensive Ni-Cu-PGE mineralization as well as several highly successful, historical and on-going mining operations. Sudbury Breccia is a host lithology often associated with footwall-style Cu-PGE mineralization.

The Sudbury Mining Camp is the most productive nickel mining district in the world, continuing to deliver world-class base and precious metal output after more than a century of operation. The camp’s dominant feature is the Sudbury Basin. It is a 65-kilometre long elliptical structure that features Ni-Cu-PGE deposits along the contact and footwall of the Sudbury Igneous Complex, which forms the outer rim of the Sudbury Basin, as well as within offset dikes that emanate radially outward from it.

About Pele Mountain Resources
Pele Mountain Resources (pelemountain.net) is focused on the sustainable development of its Eco Ridge Mine uranium project in the historic Elliot Lake mining camp. The Company is developing a safe, secure, and reliable long-term source of uranium in order to deliver lasting benefits to local communities and its shareholders.

Pele also holds a diverse portfolio of gold, diamond, and base metal projects in Northern Ontario. Pele stock is listed on the TSX Venture Exchange under the symbol “GEM”.

About Wallbridge Mining
Wallbridge Mining Company Limited’s primary focus is the exploration of nickel, copper and platinum group element (“PGE”) deposits in the Sudbury area of Ontario. The Sudbury area hosts the world’s largest concentration of nickel deposits and is currently the most active mining camp in North America. Major joint venture partners in Sudbury include Vale Inco, Xstrata Nickel, Lonmin Plc and Impala Platinum Holdings Limited. Wallbridge also has a major shareholding in Duluth Metals Limited, which has defined a large copper-nickel-PGE resource in the rapidly emerging Duluth Complex base metal camp in Minnesota.

Wallbridge is also exploring a large porphyry copper-gold-molybdenum property in south-western British Columbia and has interests in copper-zinc and gold properties in north-eastern Ontario.

For further information please contact Al Shefsky, President, at (800) 315-7353.

The TSX-V has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe Pele's future plans, objectives or goals, including words to the effect that Pele or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. The economic viability of the 43-101 mineral resource at Pele's Eco Ridge Mine Project has not yet been demonstrated by a pre feasibility study.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Mining/Metal/Mineral Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: Pele Mountain Resources

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Mining/Metal/Mineral articles,
CATCH Visitors via Your Competitors Announcements!


Wallbridge Mining Company to Continue Exploration at Pele Mountain's Sudbury Nickel Project

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

|
Publisher Contact: PeleMountain.com 
416-368-7224
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Pele Mountain Resources securities in any jurisdiction including any other companies listed or named in this release.

Mining/Metal/Mineral via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Pele Mountain Resources / Company Profile


Read Mining/Metal/Mineral Most Recent Related Newswires:

Metso Welcomes HOLT CAT to Texas Distributor Network
Metso Presents Latest Innovations for the Mining Industry At Perumin 2017
Frost & Sullivan Commends FELUWA's Groundbreaking MULTISAFE® Double Hose-Diaphragm Pump for Efficiently Handling Liquid Flows in the Mining Industry
Metso to Present Latest Innovations for the Mining Industry At Exposibram 2017
Teko Mining in Serbia Improves Product Quality and Production Capacity by Implementing Metso's Crushing and Screening Solutions
Metso Delivered The 500th Lokotrack Sold to Germany for Andres Erdarbeiten GmbH At Steinexpo
Four New Distribution Agreements Strengthen Metso's Local Presence in India's Flow Control Markets
Metso to Divide its Minerals Services into Two Business Areas
Metso Recognized as Most Outstanding International Mining Supplier in Chile
Metso Receives Award from Minera Las Bambas Mine for Exceptional Safety Performance During Plant Shutdowns in Peru
Codelco and Anglo American Recognize Metso's Contribution to Safety
Metso Signs Three New Life Cycle Services Contracts with Mining Customers in Pacific Rim
Aluminum Composite Panels Market to Record an Exponential CAGR by 2025 Says PMR
Metso Signs Distribution Agreement with Process Control Equipment to Develop Customer Presence and Service Levels in the UK, Benelux and Spain
Metso Investing EUR 3.5 Million in Crusher Wear Parts Manufacturing in Africa to Meet Growing Demand from the Mining Industry

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  NAKIVO, Inc.

Visit  RightITnow Ltd





 
  ©2017 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)