New Silver and Zinc Assays Received for Sierra Mojada Project
Coeur d'Alene, Idaho -- Metalline Mining Company (MMG: NYSE Amex) has received the first batch of assays from ALS-Chemex on samples submitted from its drilling program at the Sierra Mojada silver-zinc project in Coahuila, Mexico.
Assays received to date are from the 2008 drilling program where Metalline had previously only analyzed the samples in an internal lab, which have now been processed and vetted through the new QA/QC protocol and program. The previous internal analyses were not reportable, but allowed the Company to determine which samples to submit to ALS-Chemex for commercial assaying, based upon an in-house assay cut-off of 10g/t (grams per tonne) Ag or 1% Zn. The majority of these samples are from drill holes into the North Side silver-zinc zone, which was the subject of the NI43-101 resource report prepared by Pincock, Allen & Holt (PAH) and reported by Metalline in conjunction with the merger with Dome Ventures Corporation earlier this year.
Below are the highlights of the 2008 drilling program, reported at a 30 g/t Ag or 1% Zn cut-off and a minimum drill interval length of 5 meters. Lower grade halos and zones often surround each of the reported intervals at lower cut-off values, and many other intercepts exist at thinner intervals and lower cut-off values. A total of 4,140 samples are in the suite of assays received from ALS-Chemex.
The average intercept of the holes reported contains 10.6 meters grading 85 g/t Ag and 2.11% Zn. These drill holes lie primarily between sections 631100E and 632200E and are on the eastern end of a 3 kilometer strike length of the North Side silver-zinc deposit, which we refer to as "Area A". This zone lies beneath 0-30 meters of alluvium and is the focus of Metalline's drilling program for the remainder of 2010, which will consist of a 100 meter by 40 meter drill pattern across the entire zone. All mineralized material in this zone appears to be heavily oxidized. Silver minerals are primarily silver halides and acanthite, and zinc occurs primarily in smithsonite. Where the zone is exposed at surface a trench is being cut for metallurgical sampling. A Phase 1 metallurgical test program is being designed to recover the zinc by flotation and gravity separation methods and the silver by agitation cyanide leach. Initial tests in this regard are promising. We anticipate being able to report a new 43-101 compliant silver-zinc (+/- lead) resource early in 2011 upon completion of this drilling program.
Drill holes reported here are shown on a plan view map available at the following link: http://www.metallinemining.com/downloads/DDH_locations-2008-1-results.pdf. The thicker and higher grade intercepts reported here are in the heart of the deposit while the thinner intercepts are on the fringes of the deposit. Several of the intercepts will composite into much thicker intercepts with intervening low-grade below the 30 g/t Ag or 1% Zn cut-off used for reporting purposes. In some instances gaps in assay intervals are intervals of no recovery and could be old mine workings, open fractures, or zones of fines that were washed away during coring.
Several batches where standards did not reproduce within acceptable limits are not included here and will be reported later after satisfactory QA/QC is completed. The drilling and assays from 2008 have allowed the Company to focus on the heart of the deposit area in 2009 and 2010. Commercial assays from remaining 2008 holes and the 2009 drilling program will follow shortly, and once the backlog of samples has cleared the commercial laboratory the results from the 2010 drilling program will follow and will be reported. Current drilling is focused on the deposit on sections 629400E to 631500E. The holes reported here represent a combination of shallow surface and underground holes. The intercepts report drill interval lengths and are close to but not all necessarily true widths. Areas in the deposit where core recovery was less than 80% are being targeted for re-drilling to improve on core recovery.
All sampling and sample preparation has been done on site by personnel contracted to Metalline, and pulps, standards, duplicate, and blanks were submitted to ALS-Chemex in accordance with a protocol and QA/QC procedure and guidelines provided by PAH.
Greg Hahn, Interim President and CEO, a Certified Professional Geologist, is the Qualified Person responsible for reviewing and reporting the contents of this press release and assuring the results reported herein are in accordance with NI 43-101.
About Metalline Mining Company
Metalline Mining Company is focused on mineral exploration. Metalline currently owns mineral concessions in the municipality of Sierra Mojada, Coahuila, Mexico and holds 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).
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") and constitute "forward looking information" within the meaning of Canadian securities laws. These statements include statements about Metalline's planned drilling program and are based on material factors and assumptions including Metalline's management's 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 the risk that Metalline's drill program may not be successful or result in the discovery of commercially mineable deposits of ore and those risks identified in Metalline's Annual Report on Form 10-K for the fiscal year ended October 31, 2009 under "Risk Factors, " and in subsequent reports filed with the Securities and Exchange Commission. 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.