VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 18, 2013) - Lincoln Mining Corporation (TSX VENTURE:LMG) ("Lincoln") or the "Company") is pleased to announce that two drill rigs are presently operating at its Bell Mountain gold-silver property in Churchill County, Nevada. Lincoln controls the project through a purchase agreement and assignment of an option to earn 100% interest in the property (see news release dated November 28, 2012). Core drilling for metallurgical samples began on April 6 and remains in progress. Core drilling for geotechnical data will follow. Infill reverse-circulation drilling to upgrade the resource confidence level began on April 15 and also remains in progress. Subsequent data will be included in a Pre-Feasibility Report planned for later this year. It is the Company's intent to advance the project to production.
A total of 35 holes are planned for an estimated total of 8,780 ft (2,825 m). Drilling is expected to be completed sometime in May.
Summary of Planned Drilling
|Metallurgy||PQ Core||6||1,360/415||Material for column leach tests|
|Geotechnical||Oriented HQ-3 Core||5||1,150/350||Data for pit wall stability|
|Infill||Reverse Circulation||24||6,270/2,825||Increase resource confidence|
Gold-silver resources at Bell Mountain are present in three deposits, the Spurr, Varga and Sphinx. At a cutoff grade of 0.006 opt gold, these deposits host measured and indicated resources of 10,760,000 tons grading 0.015 opt gold and 0.514 opt silver containing a total of 165,018 ozs gold and 5,533,907 ozs silver. At the same cutoff grade, inferred resources are 2,255,000 tons grading 0.013 opt gold and 0.387 opt silver containing a total of 29,550 ozs gold and 872,411 ozs silver (see Lincoln news release dated Dec. 19, 2012). Lincoln believes that the three deposits at Bell Mountain are well suited to open-pit mining and heap leach processing.
Mr. Jeffrey Wilson, the Company's Vice President Exploration and a "qualified person" under National Instrument 43-101, reviewed and approved the scientific and technical information contained in this news release.
Lincoln Mining Corp. is a Canadian precious metals exploration and development company with several projects in various stages of exploration and development which include the Pine Grove gold property, the Oro Cruz gold property in California and the La Bufa gold-silver property in Mexico. In the United States, the Company operates under Lincoln Resource Group Corp. and Lincoln Gold US Corp.; both are Nevada corporations.
On behalf of Lincoln Mining Corporation
Paul Saxton, President & CEO
THIS PRESS RELEASE INCLUDES FORWARD-LOOKING STATEMENTS OR INFORMATION. ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACT INCLUDED IN THIS RELEASE, INCLUDING WITHOUT LIMITATION, STATEMENTS REGARDING FUTURE PLANS AND OBJECTIVES REGARDING BELL MOUNTAIN AND LINCOLN MINING ARE FORWARD-LOOKING STATEMENTS THAT INVOLVE VARIOUS RISKS AND UNCERTAINTIES. THERE CAN BE NO ASSURANCE THAT SUCH STATEMENTS WILL PROVE TO BE ACCURATE AND ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SUCH STATEMENTS. IMPORTANT FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE COMPANY'S PLANS OR EXPECTATIONS INCLUDE ACTUAL EXPLORATION RESULTS ON BELL MOUNTAIN, PROJECT DELAYS, AVAILABILITY OF EQUIPMENT AND PERSONNEL, AVAILABILITY OF CAPITAL AND FINANCING, GENERAL ECONOMIC, MARKET OR BUSINESS CONDITIONS, REGULATORY CHANGES, TIMELINES OF GOVERNMENT OR REGULATORY APPROVALS AND OTHER RISKS DETAILED HEREIN AND FROM TIME TO TIME IN THE FILINGS MADE BY THE COMPANY. THE COMPANY MAKES ALL REASONABLE EFFORTS TO UPDATE ITS CORPORATE MATERIAL, DOCUMENTATION AND FORWARD-LOOKING INFORMATION ON A TIMELY BASIS.
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