Metalline Drill Results From Fifty Eight Drill Holes at Sierra Mojada Average 43 Meters Grading 80 gpt Ag, 1.1% Zn, and 0.26% Pb
GREENWOOD VILLAGE, Colo., Nov. 3, 2010 /PRNewswire/ — Metalline Mining Company (NYSE Amex: MMG; TSX: MMZ) is pleased to announce additional drilling results from the ongoing 2010 and earlier drilling programs at the shallow silver-zinc resource area (“Area A”) at the Sierra Mojada Project located in Coahuila, Mexico. Results reported below are at a 30 gpt Ag or 1% Zn external cut-off.
Metalline has now reported a total of 58 drill holes that average 43 meters thick above the 30 gpt Ag cut-off, averaging 80 gpt Ag, 1.1% Zn, and 0.26% Pb. Depth to the top of the mineralized zone averages only about 20 meters, rendering the deposit readily amenable to open pit mining.
Section 631400E lies roughly in the middle of the three kilometer long Area A zone mineralized trend. It has been drilled over the past several years mostly to test the up-plunge portion of the zinc oxide zone, and only recently have company geologists pieced together the geometry of the shallow silver-zinc zone and its host geometry. The Area A mineralization on Section 631400E is roughly 150 meters long and averages 50 meters thick. The weighted average of twenty-nine drill hole intercepts is 79 gpt (2.3 ounces per tonne) Ag and 0.53% Zn. The section lies 100 meters west of section 631500E, which was reported earlier, and demonstrates continuity westward from 631500E. Compilation of adjacent sections 631300E and 631200E is in progress
The Company is also pleased to report drill hole results for section 630100E located 1300 kilometers west of section 631400E and 100 meters eastward of previously reported section 630000E. On Section 630100E the average 45 meters thick with an average silver grade is 32 gpt (0.93 ounces per tonne) Ag, but the average zinc grade is high at 2.24% Zn. The results on this section, and drilling completed on the periphery of the silver zone on other sections, suggest there is a zinc halo around the silver-rich portion of the Area A deposit, whereby zinc is low when silver is high, and vice versa.
The Company has sent three one-tonne bulk samples from the metallurgical trench on Section 630600E to Mountain States Research and Development for metallurgical testing. Gravity, flotation, and Dense Media Separation (DMS) testing will be done to examine the ability to produce a zinc concentrate without accompanying silver, and flotation and cyanidation tests on the silver to optimize silver extractions. Scoping tests indicate 80% average recoveries for both silver and zinc should be achievable.
The deposit has now been quantified over +800 meters of strike length. It averages over 43 meters thick and about 200 meters wide. The density of mineralized material is approximately 2.6 tonnes/cubic meter. Graphic presentation of the drill intercepts on all of the sections reported to date and conceptual pit profiles and silver grade contours on the sections can be accessed on the Metalline web site at: http://www.metallinemining.com/i/maps/Section_630100E_631400E.pdf
Drilling has been completed west of section 631000E and we are awaiting assays and QA/QC on assay results. Drilling is currently on the east end of the Area A resource between sections 631500E and 632000E. Rotary drilling is piloting holes down 50 meters through alluvium and earlier post-mineral cover. We currently have three core drills on the property. Drilling is expected to continue through the end of November, and all assays are expected in by the end of December.
All of the sampling and sample preparation for assays other than the B10000-series holes reported herein have been done on site under supervision by Metalline personnel and all those samples and samples of sawed core from the 2010 drilling program were shipped directly to ALS-Chemex for further sample preparation and assaying with insertion of appropriate standards and blanks. QA/QC on all of the assay data reported here has been completed by Nick Suter, Chief Geologist at the Sierra Mojada Project.
Section 631400E
Hole ID From (m) To (m) Length (m) Ag gpt Zn % Pb %
------- -------- ------ ---------- ------ ---- ----
D8080328 32 42 10 50 0.19 0.04
D8080229 22 46 24 88 0.3 0.05
D8080317 13 28.55 15.55 104 1.37 0.17
D9081127 6.35 21 14.65 170 2.21 0.45
21 30 9 22 0.32 0.06
30 62 32 71 0.37 0.03
D1080807 1 14 13 104 0.78 0.23
57 80 23 135 0.56 0.04
D1080814 51 92 41 138 0.11 0.02
D1080905 7 12 5 41 0.4 0.08
33.05 89 55.95 73 0.17 0.03
D1061018 7 16 9 43 0.18 0.01
35 51 16 75 0.68 0.14
68 81 13 82 0.13 0.01
D1061011 10 14 4 36 0.13 0.01
46 67 21 28 0.3 0.05
D1060928 11 26 15 32 0.38 0.02
42 62 20 73 0.12 0.02
70 121 51 62 0.15 0.04
D1060907 15 20 5 62 0.08 0.02
46 60 13 43 0.05 0.01
65 77 12 36 0.09 0.01
115 135 20 90 0.68 0.11
D1081010 21 29 8 42 0.28 0.95
29 42.7 13.7 10 0.36 0.72
42.7 46 3.3 39 0.13 0.15
61 67 6 149 0.36 0.07
67 73 6 3 0.05 0.03
73 86 13 186 0.12 0.02
96 106 10 38 0.1 0.04
106 112 6 18 0.27 0.11
112 126 14 55 0.31 0.06
164 170 6 12 2.78 0.03
D1081027 24 29.25 5.25 38 0.59 0.89
83 88 5 62 0.07 0.06
101 110 9 46 0.06 0.03
125 128 3 98 0.15 0.04
133 140 7 80 0.97 0.08
D1081114 11 42 31 28 0.26 0.17
116 123 7 44 0.05 0.03
133 137 4 55 0.05 0.03
D1081204
37 48 11 50 0.41 1.07
91 96 5 54 0.02 0.01
246 250.7 4.7 2 24.43 0
D9081111 0 27 27 81 0.68 0.07
27 40 13 20 0.18 0.05
40 61 21 141 0.44 0.07
D1061024 93 137 44 46 0.06 0.02
146 160 14 42 0.08 0.02
D1061106 34 179 143 132 0.54 0.04
D1061122 22 133 111 119 0.48 0.05
D1061204 20 68 48 69 0.49 0.02
104 126 22 55 0.49 0.02
D1070124 8 76 68 91 1.26 0.31
D1070130 34 53 19 118 0.58 0.02
D1070118 6 12 6 53 0.18 0.01
40 76.5 36.5 157 1.2 0.4
D1070207 6 84 78 33 0.46 0.14
D1061219 21 71 50 80 0.37 0.18
D1080821 0 42 42 56 0.32 0.06
D1080828 2 24 22 26 0.24 0.09
42 50 8 63 0.29 0.02
D9080829 3 40 37 44 0.21 0.09
66 97 31 64 0.44 0.09
D9081210 55.65 69.5 13.85 59 0.87 0.14
AVERAGE of 29 HOLES 50 79 0.53 0.11
Section 630100E
Hole ID From (m) To (m) Length (m) Ag gpt Zn % Pb %
------- -------- ------ ---------- ------ ---- ----
NSM27 6.8 65.8 59 14 3.45 0.23
R10034 42.35 92 49.65 62 1.96 0.40
B10063 27 53 26 6 1.69 0.16
B10063 53 72 19 51 0.96 0.06
B10067 18 37 19 27 1.53 0.15
47.35 52.8 5.45 21 1.14 0.06
B10083 Assays pending
Average of 4 holes 45 32 2.24 0.23
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 the acquisition, exploration and development of mineral properties. 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).
Forward-Looking Statements
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.
Web site: www.metallinemining.com
SOURCE Metalline Mining Company