20,000 Meter Drill Program and 1,550 Line Kilometer Geophysics Survey Underway at Sierra Mojada
Vancouver, British Columbia -- Metalline Mining Company (TSX: MMZ, AMEX: MMG) ("Metalline") is pleased to announce that drilling and airborne geophysics have commenced at our Sierra Mojada project in Coahuila, Mexico.
Metalline has contracted Major Drilling Group International Inc. to drill 20,000 meters for our 2011 drill program, of which 10,000 meters will be diamond drill holes and 10,000 meters of reverse circulation drilling. Drilling commenced March 1, 2011 and is expected to finish in Q4 2011. The drilling is targeting the Northern and Eastern extensions of the 'Area A' shallow silver resource defined during 2010. All samples from this drill program will be sent to ALS Laboratories in Vancouver for analysis.
Metalline has contracted Geotech Ltd. to fly a 1,550 line km ZTEM airborne geophysics survey on targeting the western half of the 15,660 hectares (38,696 acres) of the Sierra Mojada license. The survey is expected to commence this week, and the program will take 10 to 14 days to complete. Results for the program are expected out in May 2011.
About Metalline Mining Company
Metalline Mining Company is focused on the acquisition, exploration and development of mineral properties. Metalline currently owns mineral concessions in the municipality of Sierra Mojada, Coahuila, Mexico and holds exploration licenses in Gabon, Africa. Metalline conducts its operations in Mexico through its wholly owned Mexican subsidiaries, Minera Metalin S.A. de C.V. and Contratistas de Sierra Mojada S.A. de C.V. To obtain more information on Metalline Mining Company, visit the Company's web site www.metallinemining.com.
On behalf of the Board of Directors,
Tim Barry, MAusIMM
Chief Executive Officer, President and Director
Investor Relations Contact Information:
Anthony Srdanovic, B.Comm
Manager Corporate Communications
Direct line: (604) 895-7429
Office line: (604) 687-5800
Metalline Mining Company
Suite 2200 -- 885 West Georgia St.
Vancouver, BC V6C 3E8
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements regarding future events and Metalline's future results that are subject to the safe harbours created under the Securities Act of 1933 (the "Securities Act") and the Securities Exchange Act of 1934 (the "Exchange Act"). These statements are based on current expectations, estimates, forecasts, and projections about the industry in which Metalline operates and the beliefs and assumptions of Metalline's management. Words such as "expects," "anticipates," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "continues," "may," variations of such words, and similar expressions, are intended to identify such forward-looking statements. In addition, any statements that refer to projections of Metalline's future financial performance, Metalline's anticipated growth and potential in its business and other characterizations of future events or circumstances are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, including such factors as the volatility and level of commodity prices, currency exchange rate fluctuations, uncertainties in cash flow, expected acquisition benefits, exploration mining and operating risks, competition, litigation, environmental matters, the potential impact of government regulations, and other matters discussed under the caption "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended October 31, 2010 and subsequent periodic reports, many of which are beyond our control. Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those expressed or implied in the forward-looking statements.