Projects
OVERVIEW
Lincoln Mining Corporation (“Lincoln” or “the Company”) is acquiring, exploring and developing gold and silver properties in key mineral regions of North America. The Company holds interests in two projects in the United States and one project in Mexico. The districts in which the properties are located have significant histories of mineral production and excellent infrastructure.
CORPORATE OBJECTIVE
Lincoln’s management team brings together a number of senior-level mining engineers, corporate finance executives and geologists with proven track records of acquisition, exploration, mine-finding, mine-building and corporate finance. The Company’s focus is on acquisition, exploration and development of prospective mineral projects in North America. Lincoln’s immediate objective is to transition the Pine Grove gold project from the development-stage into production. Continued exploration work is also planned in Mexico.
NEVADA
Nevada is one of the world’s leading regions for gold production.
Pine Grove Property – The Company’s immediate objective is to achieve gold production at the advanced-stage Pine Grove Property in Lyon County, Nevada. On January 22, 2009, Lincoln filed a NI 43-101 technical report (prepared by Minefill Services Inc.) dated December 19, 2008. Inferred gold resources are estimated at 6.06 million tons grading 0.053 opt gold with assays capped at 0.500 opt gold containing approximately 320,000 oz gold. In November 2009, Lincoln initiated a reverse-circulation drilling program designed to reaffirm and potentially upgrade the Inferred resources at Pine Grove to Indicated and Measured. Drilling was completed in February 2010 with a total of 63 holes, confined to the Wilson and Wheeler patented claims. A number of high-grade gold intercepts were encountered which will be followed up in subsequent drilling programs. District-wide exploration is also planned to include soil geochemical surveys, continued mapping and drilling on new and existing targets. The Company has engaged a consulting firm to compile a scoping study followed by a feasibility study.
CALIFORNIA
First discovered by the Spaniards as early as 1780-81, the Cargo Muchacho-Tumco district is believed to have produced the first gold mine in California.
Oro Cruz Property - The Oro Cruz Property in Imperial County, California, is the Company’s most recent acquisition. The Company has executed, in principle, a Letter Agreement with ADGIS, Inc. to acquire 20 lode mineralization claims that cover the Oro Cruz gold deposit in Imperial County, California. The Company has staked an additional 68 contiguous lode claims covering approximately 1,800 acres. The main Oro Cruz gold deposit is an irregular, elongate, tabular zone that dips approximately 25º from the pit floor for at least 1,650 ft. There are over 400 drill holes on the property and the deposit remains open down dip with the deepest vertical hole containing 60 ft grading 0.4 oz per ton gold (not true thickness). Multiple exploration targets are present on the property.
Lincoln believes the project has near-term potential to be expanded and developed into a producing gold mine through renewed open-pit and underground mining. A NI 43-101 technical report is planned for early 2010.
MEXICO
Mexico is one of the world’s leading regions for gold-silver production and has a strong mining culture.
La Bufa Property - The project is an early to mid stage gold-silver exploration project located in a historical mining district within the Sierra Madre mineral belt in southwestern Chihuahua State. Lincoln controls a large land position that covers most of an 11 km long mineral trend. Past drilling by Lincoln and other operators has produced encouraging results. On February 10, 2009, Lincoln filed an amended and restated NI 43-101 technical report on La Bufa, prepared by Richard W. Bybee, dated January 5, 2009. A geophysics program is underway and the Company plans continued exploration in 2010.
TECHNICAL DISCLOSURE
Mr. Jeffrey L. Wilson, Vice President Exploration and Chief Operations Officer, supervises the Company’s exploration programs and is the Company’s “Qualified Person” for the purpose of NI 43-101 “Standards of Disclosure for Mineral Projects”. Mr. Wilson has reviewed and is responsible for the technical disclosure contained in this section of the Company’s website.
©2009 Lincoln Mining Corp
