VANCOUVER, Jan. 12 /CNW/ - Lincoln Mining Corporation, TSX-V: LMG ("Lincoln" or the "Company") is pleased to report that following the holiday break the aggressive drilling program which was well underway in December has restarted on the Pine Grove. Similarly the large geophysics program at La Bufa has now recommenced.
The 50-hole plus reverse circulation drilling program at the Pine Grove has restarted after shutting down on December 22 for a two week break. Before the break, a total of 28 holes had been completed. It is expected that the remainder of the program will be completed by the end of January. Diversified Drilling LLC, our drilling contractor, has already drilled 6 holes since the restart for a total of 34 holes and 9,300 feet. All holes have been on the Wilson deposit. An additional 21 holes are planned for the Wheeler deposit. A total of 1,851 drill samples have been collected. Drill samples from 28 holes have been shipped to ALS Chemex in Reno, NV for assaying. Drill collars have been surveyed on 24 of the holes. The program is designed to reaffirm and upgrade the inferred gold resources previously identified in the early 1990's. Total planned drilling on the Wilson and nearby Wheeler is estimated at approximately 15,000 ft.
Exploration drilling is also planned to test prospective areas adjacent to the Wilson and Wheeler deposits on lode claims controlled by Lincoln under the jurisdiction of the US Forest Service. Permitting is in progress to have this next drill program certified as soon as possible.
The geophysics program at La Bufa has recommenced as well. New lines are being flagged at the present time for a full start up of the program next week. The geophysical lines completed in December already have shown promising areas for drilling.
Three full IP (Induced Polarization) geophysics lines were completed across the northwest part of the claims before shutdown. At least 12 east west IP lines are planned to better define the northwest trending structure which contains the mineralized veins. The geophysics program is being completed so a drilling program planned for 2010 can be more precisely targeted. The additional IP lines will follow the strike of the structure up to the north-west edge of our claim boundary, where Gammon Gold has recently staked claims beyond our border.
Mr. Jeffrey Wilson, the Company's Vice President Exploration and a Qualified Person under National Instrument 43-101, supervised the preparation of this news release.
Lincoln Mining Corp. is a Canadian precious metals exploration and development company with several projects in various stages of exploration and development which include the Pine Grove gold property, the Oro Cruz gold property in California and the La Bufa gold-silver property in Mexico. In the United States, the Company operates under Lincoln Gold US Corp., a Nevada corporation.
On behalf of Lincoln Mining Corporation
Paul Saxton, President & CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
THIS PRESS RELEASE INCLUDES FORWARD-LOOKING STATEMENTS OR INFORMATION. ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACT INCLUDED IN THIS RELEASE, INCLUDING WITHOUT LIMITATION, STATEMENTS REGARDING FUTURE PLANS AND OBJECTIVES OF LINCOLN MINING ARE FORWARD-LOOKING STATEMENTS THAT INVOLVE VARIOUS RISKS AND UNCERTAINTIES. THERE CAN BE NO ASSURANCE THAT SUCH STATEMENTS WILL PROVE TO BE ACCURATE AND ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SUCH STATEMENTS. IMPORTANT FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE COMPANIES' PLANS OR EXPECTATIONS INCLUDE AVAILABILITY OF CAPITAL AND FINANCING, GENERAL ECONOMIC, MARKET OR BUSINESS CONDITIONS, REGULATORY CHANGES, TIMELINES OF GOVERNMENT OR REGULATORY APPROVALS AND OTHER RISKS DETAILED HEREIN AND FROM TIME TO TIME IN THE FILINGS MADE BY THE COMPANY. THE COMPANY MAKES ALL REASONABLE EFFORTS TO UPDATE ITS CORPORATE MATERIAL, DOCUMENTATION AND FORWARD-LOOKING INFORMATION ON A TIMELY BASIS.
SOURCE LINCOLN MINING CORPORATION
For further information: For further information: Investor Relations at (604) 688-7377, or visit the Company's website at www.lincolnmining.com