Mettalline update. I like the idea of a new drill on the silver side.Maybe open pit. Wow that would be good and inexpensive.
Metalline Mining Company Sierra Mojada Project Update
2006-07-19 09:00 ET - News Release
COEUR D'ALENE, Idaho -- (Business Wire) -- July 19, 2006
Metalline Mining Company (OTCBB:MMGG) has contracted a
reverse circulation drill from Layne de Mexico to drill for water at
Sierra Mojada. The first well is in progress and is being drilled on
Minera Metalin property that had two previously producing wells.
Development of water sufficient for the mine, mill and the refinery,
if the refinery is located in Sierra Mojada, is an essential component
of the project.
Metalline's Hagby diamond drill has been returned from lease to
World Wide Exploration and is being prepared to be moved underground
to the Plaza Rica area to further define silver, copper, zinc
mineralization intersected by the smaller Termite drill. Plaza Rica
drill results were previously announced in news releases dated May 11
and May 24, 2006.
Surface diamond drilling continues on the oxide zinc
mineralization drilled by North Limited and Penoles in the San Antonio
mine area located 2 kilometers west of the west end of the Iron Oxide
Manto block model resource. Drill results will be announced when
analytical data in progress is received.
Air photography of the district has been contracted from Orthoshop
Mexico to produce a Digital Elevation Model (DEM) of Sierra Mojada.
The photos have been flown, aerotriangulation completed and the DEM is
promised to be completed by month end. Pincock Allen and Holt will use
the DTM as part of a scoping study to determine if open pit mining is
possible for the Iron Oxide Manto. If all or part of the manto can be
mined by open pit methods then the mining cost would be significantly
lower than by underground methods.
Cautionary Note to Investors
Metalline is an exploration stage company and does not currently
have any known reserves and cannot be expected to have reserves unless
and until a feasibility study is completed for the Sierra Mojada
property that shows proven and probable reserves.
Forward-Looking Statements
This news release contains forward-looking statements regarding
future events and Metalline's future results that are subject to the
safe harbors created under the Securities Act of 1933 (the "Securities
Act") and the Securities Exchange Act of 1934 (the "Exchange Act").
These statements are based on current expectations, estimates,
forecasts, and projections about the industry in which Metalline
operates and the beliefs and assumptions of Metalline's management.
Words such as "expects," "anticipates," "targets," "goals,"
"projects," "intends," "plans," "believes," "seeks," "estimates,"
"continues," "may," variations of such words, and similar expressions,
are intended to identify such forward-looking statements. In addition,
any statements that refer to projections of Metalline's future
financial performance, Metalline's anticipated growth and potentials
in its business and other characterizations of future events or
circumstances.
Contacts:
Metalline Mining Company
Merlin Bingham, 208-665-2002
Fax: 208-665-0041
metalin@attglobal.net
www.metalin.com
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