Metalline Provides Detail On Planned Activities
COEUR D'ALENE, Idaho, May 7 /PRNewswire-FirstCall/ -- Metalline Mining Company (NYSE Amex: MMG) announces recent progress and planned expenditures following the successful closing of the transaction with Dome Ventures Corporation on April 16, 2010. In connection with the closing, Metalline moved forward with its 2010 budget plan for the Sierra Mojada project, which calls for an aggressive exploration drilling program on the silver mineralization located north of the Sierra Mojada fault. Approximately 44,000m of drilling are planned for calendar 2010, of which over 3400m have been drilled as of the end of April. The pace of drilling is accelerating through double shifting of Company diamond drills and the use of drilling contractors. A total of at least six drills will be turning on the project at the peak of activities. Initially this work will be focused in the west end of Metalline's concessions.
More than 7,000 samples from previous core drilling are being submitted to the external independent laboratory for analysis. These samples have been screened through Metalline's on-site laboratory and consist mainly of samples that contain more than 10ppm silver or more than 1% Zn. Metalline plans to complete a comprehensive update of the resource model for silver by end of the 2010. An initial program of metallurgical test work is in progress to assess recoveries at various process methods that can be expected from the silver and associated zinc mineralization. This program will be expanded as more samples are available from core drilling in the west end. The results of drilling and metallurgy studies are scheduled to be available for use in a Preliminary Economic Analysis (Scoping Study) beginning early next year.
The Company also recently acquired purchase options on several additional concessions in the historic mining district. These concessions contain extensive underground workings from historic mining activities that extracted high-grade silver resources, and abundant channel sampling from these workings indicate significant silver remains, which will be the focus of some of the planned 2010 drilling program.
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