Wallbridge Mining Extends Line of Credit to Miocene

Wallbridge Mining Company Limited (TSX:WM) announced it has agreed to give Miocene Metals Limited (TSXV:MII) a $1 million line of credit to fund Miocene’s summer exploration program.

As quoted in the press release:

Work will be focused on the MacKenzie Property, where surface copper mineralization has been traced over a 1.2 kilometre strike length. Objectives of Miocene’s 2012 program are to obtain the first drill intercepts of the high-grade mineralized structures which have been identified on surface and to identify the intrusive source for this mineralization.

Wallbridge’s President and CEO, Marz Kord said:

This agreement is the best way of ensuring the ability of Miocene to build shareholder value during this extremely difficult period.  As Miocene’s major shareholder, Wallbridge and its shareholders will also benefit from the success of Miocene.

Click here to read the Wallbridge Mining Company Limited (TSX:WM) press release.