Franklin Mining, Inc. Releases Reserves on Mayaya Project 4/19/2005 11:10:01 AM
LAS VEGAS, Apr 19, 2005 (BUSINESS WIRE) -- Franklin Mining, Inc. (OTC Pink Sheets:FMNJ), C.E.O. Jaime Melgarejo, Jr. comments the following on the probable reserves of Mayaya project:
"The full concession is about 450 Hectores, our operational contract allows us to mine about 50 Hectores. One report that was done by the Ministry of Mines and Metallurgy of Bolivia (report 388/00 made in 1984) lists the probable reserves of Mayaya of about 26,280 troy ounces of gold with an average tenor of 230 mg's per cubic yard based on a volume of 3,554,000 cubic yards (page 66). In another report that was done by Watts, Grifis, and McQuat back in 1997, table 2 "Inventory of Reserves and other Mineralization probable reserves," lists probable reserves of 52,055 ounces of gold based on a tenor of 257 mg per cubic meter based on a volume of 6,300,000 cubic meters."
Jaime Melgarejo added, "In other news Franklin Mining, Bolivia opened a line of credit with a local bank. Franklin Mining, Inc. is looking to divest itself out of the Idaho Springs property in Colorado and I am returning to Bolivia and will be in Bolivia for about a month."
About Franklin Mining, Inc.
Franklin Mining Company was established as a Colorado exploration and mining company in 1864. The Company incorporated on December 1, 1976 and owns the Franklin Mines in Idaho Springs, Colorado, 95% of Compania Minera Santa Catalina Ltda and a wholly owned subsidiary in Bolivia. The subsidiary in Bolivia has an operation outside of La Paz. For more information on Franklin Mining, please visit our webpage at www.franklinmining.com.
SOURCE: Franklin Mining, Inc.
Franklin Mining, Inc.
Terri Moran, 832-248-6211
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