Lincoln Mining Receives Drill Permit for La Bufa Property, Chihuahua, Mexico
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/03/11 -- Lincoln Mining Corporation (TSX VENTURE: LMG) ('Lincoln') or the 'Company') is pleased to announce that permission was granted from the Ministry of Environmental and Natural Resources, Semarnat, (Secretaria d Medio Ambiente y Recuersos Naturales), to carry out its planned 5,000 meter drill program at its 100% owned La Bufa project in southern Chihuahua State. Lincoln has contracted Perforaciones Corebeil SA de CV of Mazatlan to carry out the drilling, which is expected to start by the end of June. Road and pad construction is underway at this time.
The project is located in the prolific mining district of Guadalupe y Calvo. Lincoln's drill targets are all focused on the 'lower volcanic' or older rocks where historic production has been estimated at over 2 million ounces of gold and 28 million ounces of silver. The La Bufa Property surrounds the GyC property owned by Gammon Gold. Gammon Gold has recently announced inferred resources of over 1 million ounces of gold and 45.6 million ounces of silver on its GyC property (see February 28, 2011 news release by Gammon Gold).
This is the first drilling that has been carried out by Lincoln on the property since 2003 & 2008, when 17 holes in total were drilled in the southeast part of the property. Drill intercept results included 10.70 gpt of gold and 516 gpt silver over 1.5m, 8.70 gpt gold and 503 gpt silver over 1.61m, 1.55 gpt gold and 91.1 gpt silver over 0.40m and 0.402 gpt gold and 6.60 gpt silver over 1.55m (see Company's news release of June 23, 2008 for complete results).
Since 2008, Lincoln geologists have been focusing on defining drill targets in the northwest part of the property, which the Company's management believes to have substantial mineral potential. Programs of geophysics, rock-chip and soil sampling, and geologic mapping have been completed covering an area of over 15 square kilometers (see news release of July 27, 2010). Five large distinct targets have been identified all the way from Gammon Gold's GyC property boundary in the south to the northern boundary of the La Bufa property, a distance of over 5 kilometers.
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 Gold US Corp., a Nevada corporation.
On behalf of Lincoln Mining Corporation
Paul Saxton, President & CEO
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Contacts:
Lincoln Mining Corporation
Investor Relations
604-688-7377
604-688-7307 (FAX)
www.lincolnmining.com