Lincoln to Drill at Bell Mountain, Nevada
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/18/13 -- Lincoln Mining Corporation (TSX VENTURE: LMG) ("Lincoln" or the "Company") is pleased to announce that its has received the necessary permit from the BLM for its planned drill program at the Bell Mountain gold-silver property in Churchill County, Nevada. Lincoln controls the Bell Mountain project through a purchase agreement and assignment of an option to earn 100% of the property. Drilling will consist of core drilling for metallurgical samples, oriented core drilling for geotechnical data required for pit designs, and infill reverse-circulation drilling to upgrade the resource confidence level. Data obtained from the drill program will be included in a Pre-Feasibility Report and will be used to obtain its production permits. Lincoln intends to advance the project to production as soon as possible.
Planned Drilling
A total of 35 holes are planned for an estimated total of 8,780 ft (2,825 m). The Company has received a Notice from the US Bureau of Land Management dated March 11, 2013 allowing Lincoln to proceed with its drilling program. Reclamation bonding is in progress and should be completed soon. Drilling contractors have been selected and notified. The drilling program will commence in late March or early April and should be completed during May.
Summary of Planned Drilling
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Purpose Type Drilling Holes Feet/ Comments
Meters
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Metallurgy PQ Core 6 1,360/ Material for column leach
415 tests
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Geotechnical Oriented NQ-3 5 1,150/ Data for pit wall stability
Core 350
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Infill Reverse 24 6,270/ Increase resource confidence
Circulation 2,825
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Totals 35 8,780/
2,825
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Certified reference material (standards) and blanks have been received for quality control. A secure warehouse has been leased in Fallon, Nevada for sample handling, processing, and pickup by the analytical lab. Duplicate reverse-circulation samples will be collected and stored at the facility for an additional source of waste-rock characterization material. Core will be housed at ALS Chemex in Reno, Nevada where it will be photographed, logged, and sampled in their secure logging facility.
Resources
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 exploitable by open-pit mining and heap leach processing. The Company has recently expanded the property to 174 contiguous lode claims (approx. 3,480 acs).
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 LINCOLN'S PLANS TO TO ADVANCE THE BELL MOUNTAIN PROJECT TOWARDS THE FEASIBILITY STAGE AND OTHER FUTURE PLANS AND OBJECTIVES OF LINCOLN 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. ACCORDINGLY, INVESTORS SHOULD NOT PLACE UNDUE RELIANCE ON FORWARD-LOOKING STATEMENTS. IMPORTANT FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE COMPANY'S PLANS OR EXPECTATIONS INCLUDE THE RISK THAT ACTUAL RESULTS OF FUTURE EXPLORATION WORK, INCLUDING DRILL RESULTS AND RESULTS OF ENGINEERING AND METALLURGICAL STUDIES, WILL NOT SUPPORT THE COMPANY'S PLANS TO ADVANCE THE BELL MOUNTAIN PROJECT; COST OVERRUNS AND PROJECT DELAYS; AVAILABILITY OF CAPITAL AND FINANCING NECESSARY TO FUND PLANNED EXPLORATION WORK ON THE BELL MOUNTAIN PROJECT AND TO OTHERWISE ADVANCE THE PROJECT; FLUCTUATIONS IN COMMODITY PRICES AND FOREIGN EXCHANGE RATES; GENERAL ECONOMIC, MARKET OR BUSINESS CONDITIONS; MINING ACCIDENTS; REGULATORY CHANGES; TIMELINES OF GOVERNMENT OR REGULATORY APPROVALS AND PERMITTING; 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 TO THE EXTENT REQUIRED BY APPLICABLE LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts:
Lincoln Mining Corporation
Investor Relations
604-688-7377
Lincoln Mining Corporation
Paul Saxton
President & CEO
604-688-7377
604-688-7307 (FAX)
www.lincolnmining.com