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Summary
Project Highlights
Lincoln Mining has four high-quality precious metal projects located in key mineral regions of Nevada, California and Chihuahua, Mexico. The Pine Grove and Bell Mountain properties are advanced-stage projects in Nevada and provide near-term production opportunities. These two projects will be the focus of Company activities in 2013. A summary of Lincoln's consolidated gold resources on the Pine Grove, Bell Mountain and Oro Cruz projects is summarized in the table below. Please go the each project section for detailed descriptions, photos and maps.
Lincoln Mining Corporation – Consolidated Gold Resources
Total Measured + Indicated and Inferred Gold Resources
|
Property |
Cutoff
Grade (opt Au) |
M & I
Tons (000s) |
M & I
Grade (opt Au) |
M & I
Gold (Ozs) |
Inferred
Tons (000s) |
Inferred
Grade (opt) |
Inferred
Gold (opt) |
|
Pine Grove, NV
|
0.007
|
6,055
|
0.034
|
203,900
|
1,596
|
0.027
|
43,100
|
|
Bell Mountain, NV
|
0.006
|
9,762
|
0.027
|
265,634
|
2,046
(Au eqv) |
0.022
|
45,412
|
|
Oro Cruz, CA
|
0.010
|
-
|
-
|
-
|
7,860
|
0.050
|
376,000
|
|
Total Resources
|
|
15,817
|
0.030
|
469,534
|
11,502
|
0.040
|
465,112
|
Pine Grove Property, Nevada – PEA reports that the project sound with free cash flow of US $32 million dollars at a gold price of US $1,425.
Bell Mountain, Nevada (Recent acquisition) – Lincoln plans to file an updated NI 43-101 Technical Report on Bell Mountain by second quarter 2013. Exploration is also planned.
Oro Cruz, California – Lincoln plans to explore pit down-dip projection to determine extent of mineralization & explore other targets. Permitting for drilling will be delayed pending review of the letter agreement with Elgin Mining and arbitration.
La Bufa, Chihuahua, Mexico – Exploration-stage project in major mining district with a NI 43-101 Technical Report. Further exploration is pending arbitration. 2011 drilling was successful in confirming that deeper offset drilling is warranted.
Corporate Objectives
- Achieve gold production at Lincoln’s projects in Nevada.
- Achieve gold production at Lincoln’s project in California
- Production goal of 150,000 – 200,000 ozs gold per year in 5 years.
- Grow the Company through cash flow from production.
- Continue evaluating exploration projects that hold opportunity with a view to expanding Lincoln’s property portfolio of advanced-stage gold-silver properties in western North America – United States, Mexico & Canada.
The Company's long term objective is to become an intermediate-size gold and silver producer.
For further information, please contact:
|
Paul Saxton, President & CEO
|
|
|
Karyn Bachert, Corporate Communications
|
Tel: 604-688-7377, Ext. 223
Email: kbachert@lincolnmining.com |
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