Wednesday June 10, 3:56 pm Eastern Time
Company Press Release
Drill Hole Results Announced By Metalline Mining Co.
COEUR D'ALENE, Idaho--(BUSINESS WIRE)--June 10, 1998--Metalline Mining Co [OTC BB:MMGG - news]. Inc. (OTC BB:MMGG) announces the results of further work on the Penoles drill hole data from the Sierra Mojada Project, Coahuila, Mexico.
Previous releases regarding these data were made on March 3, 1998, and May 26, 1998. The Sierra Mojada Project is a joint venture with Grand Central Silver Mines (NASDAQ:GSLM - news) which has a 35 percent participating interest in the project.
The Penoles data contains 2,171 diamond drill holes that were drilled over a period from 1930 through 1953. The holes are all underground diamond drill holes that were drilled from mines within an area of about 5 kilometers by 2 kilometers. Eight-hundred-and-seventy-one drill holes define an east-west trend of silver, copper mineralization over 3 kilometers long by 0.5 kilometers wide. Five-hundred-and-forty-seven holes define three silver deposits in this trend which are described in the May 26, 1998, release. These areas are referred to as the Once (11) located in the west end of the trend and the San Salvador and Encantada located about 2.5 and 3 kilometers, respectively, to the east of the Once at the east end of trend.
The 871 drill holes were entered into Gemcom mine modeling software and grade and tonnage calculations have been completed for the three deposits with the following results:
MINEÿÿÿÿÿÿÿÿÿÿÿÿTONNESÿÿÿÿÿÿSILVERÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿSILVER
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ(METRIC)ÿÿÿÿ(GRAMS PER TONNE)ÿÿÿÿ(OUNCES PER TON)
Onceÿÿÿÿÿÿÿÿÿÿÿÿ525,660ÿÿÿÿÿÿÿ613ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ17.9
San Salvadorÿÿÿÿÿ372,847ÿÿÿÿÿÿÿ486ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ14.2
Encantadaÿÿÿÿÿÿÿ770,355 ÿÿÿÿÿÿ 579ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ16.9
TOTALÿÿÿÿÿÿÿÿÿ1,668,862ÿÿÿÿÿ569ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ16.6
Seven percent of these drill hole samples have copper assays that have a weighted average of 0.98 percent. Metalline's sampling of the mine dumps along this trend gave copper values as high as a 4.14 kilograms (133 ounces) per tonne. The average of 228 dump samples of this type mineralization averaged 0.54 percent copper.
The indicated 1.7 million tonnes at a production rate of 600 tonnes per day (219,000 tonnes per year) is a mine life of 6.7 years and the grade of 569 grams is about two times the grade necessary to develop a mine. All three deposits are open to extension in all dimensions, including depth. Metalline will conduct a confirmation, in-fill and step-out drilling program to delimit the deposits and determine their reserve grade and tonnage.
Metalline Mining Co. is a U.S.-based exploration and mining company focused on the discovery and development of silver and base metal reserves in Mexico. For more information please contact John Ryan at 208/769-7340 or Merlin Bingham at 208/665-2002.
Contact:
Metalline Mining Co.
John Ryan, 208/769-7340 |
