VANCOUVER, Dec. 21 /CNW/ - Lincoln Mining Corporation, TSX-V: LMG ("Lincoln") or the "Company") is pleased to report that all three of the Company's projects are advancing as planned.
Pine Grove, Nevada
The 50 hole reverse circulation drill program that was announced on October 21, 2009 is well underway. Diversified Drilling LLC, our drilling contractor, has now completed 28 holes of the program. Drilling has been advancing without delays despite abnormally cold temperatures and one heavy snowfall. Samples from the first twelve holes have been picked up by ALS Chemex and taken to its lab in Reno Nevada for assaying. Assay results are expected by mid January. Drilling will be halted at the end of this week for the holiday period but will resume again in early January. The goal of the drilling is to reaffirm and expand the resource base and to upgrade the resource categories. We are ahead of schedule and under budget on the program. This project is the Company's main focus as we believe we can bring it to early production.
La Bufa, Chihuahua, Mexico
The geophysics and claim survey programs that were started in early December have been progressing as planned. All claims have been surveyed by a registered surveyor and monuments are being constructed to mark the corners. Two full IP (Induced Polarization) geophysics lines have been completed across the northwest part of the claims and the program will be restarted in early January. 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 better 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.
Oro Cruz, California
A 43-101 report will be started in early January which is expected to include a resource estimation. Over 400 holes have been drilled on the property. Large-scale mining occurred in the area during 1890-1916 and 1932-1941, producing greater than 150,000 ozs gold. In the mid 1990's, the property was developed as the "Golden Cross" mine by MK Gold Company. MK Gold produced 61,000 ozs gold in one year from both open-pit and underground mining. Mining ceased in 1996 due to low gold prices. Prior to cessation, MK Gold was conducting a significant pit wall push back to reach in-place "ore." Gold mineralization remains exposed in the open pit and in underground workings.
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
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SOURCE LINCOLN MINING CORPORATION
For further information: For further information: please contact Investor Relations at (604) 688-7377 or visit the Company's website at www.lincolnmining.com