Metalline Mining Company announces Silver and Zinc Oxide Block Models Indicates World Class Potential at Sierra Mojada
Coeur d'Alene, Idaho - Metalline Mining Company (NYSE Amex: MMG) announced that the most recent block model for its project at Sierra Mojada, Mexico indicates the potential for a zinc oxide deposit of World Class size.
Block model results for the lower Southside Zinc Oxide zone at Sierra Mojada estimate that the zone contains more than 24,270,000 cubic meters of material averaging 4.7% zinc and 12.7 grams silver per tonne above a 1% zinc cutoff. The block modeling process was described in our release dated April 1, 2009. The Northside Silver plus zinc deposit that was the subject of that press release is separate from and in addition to the Southside Zinc Oxide plus silver deposit reported here.
"The combined results of the Northside Silver and Southside Zinc Oxide block models shows that Sierra Mojada is developing into a World Class deposit," said Merlin Bingham, President of Metalline. "The total zinc metal content of the rocks at Sierra Mojada appears to be significantly greater than the announced reserve at the Skorpion mine in Namibia."
All of the zinc oxide material has very high porosity. Bulk density measurements have been made on many hundreds of core and rock samples to estimate the in-place density. The average of these measurements is 2.54 metric tons per cubic meter.
The current results are based upon 3D block modeling of the results from 577 diamond drill holes, 2886 percussion drill holes, and 8726 channel samples, for a total of about 108,000 samples. The calculations for zinc are based almost exclusively on analytical results from the ALS-Chemex laboratory in Vancouver, B.C.
Additional drilling is required in the deposit area to provide acceptable certainty for economic and engineering studies. Because we have not yet completed drilling in the area, the results of all block models are preliminary and are expected to change as more data is available.
Metalline Mining Company is an exploration stage enterprise engaged in the business of mining. The Company currently owns mining concessions in the municipality of Sierra Mojada, Coahuila, Mexico. The Company 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.metalin.com).
This news release contains forward-looking statements regarding future events and Metalline's future results that are subject to the safe harbors 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 potentials in its business and other characterizations of future events or circumstances are forward-looking statements. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict, including those identified elsewhere herein and Metalline's Annual Report on Form 10-K for the fiscal year ended October 31, 2008 under "Risk Factors." Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Metalline undertakes no obligation to revise or update any forward-looking statements for any reason.