Franklin Considers the Reopening of Development on the Company's Gem and Freighters Friend Mines in Clear Creek County Colorado
LAS VEGAS, Sept. 4, 2012 /PRNewswire/ -- FRANKLIN MINING, INC. (Pink Sheets: FMNJD) – is pleased to announce that the Company has revisited the opportunity to launch development on the Company's mining property in Clear Creek County, Colorado. Franklin's Gem and Freighters Friend Mines are situated on the JL Emerson fault Zone; one of the largest mineralized faults in the Idaho Springs mining district. In past evaluations the property has revealed the probability of yielding strong mineral production.
Geological mapping and sampling done in the past has revealed that there is ore grade mineralization on the lowermost level of the Freighters Friend mine; and it is the Company's position that with the current mineral value in the market recently it has become much more profitable for the Company to begin development on this property than in times past.
This property was prepared for production with a considerable past investment in the construction of the Franklin Mill along with the rehabilitation of the Franklin and Freighters Friend shafts and underground workings. The constructing of surface support facilities was also started such as an on-site assay lab, office and changing room for the miners.
"When this mine was first equipped, the mineral value was in a range that did not justify the investment involved, however with gold having risen in value from within the range of $250 per ounce to well over $1600 over the past decade, we are highly persuaded to embark on this property once again, whereas it seems that the opportunity is getting only more advantageous as time goes on. We are truly enthused about the possibilities here." stated William Petty, Chief Executive Officer.
About Franklin Mining, Inc. – Franklin Mining, Inc. is a publicly traded international exploration and mining company, headquartered in Las Vegas, Nevada, with offices in Santa Cruz, Bolivia. The Company adheres to the highest standards of quality and efficiency by optimizing the Company's resources through a system which places the preservation of the environment among the Company's top objectives. Franklin Mining, Inc. endeavors to find value in fields in which the projects can be explored and exploited while contributing to the socio-economic and cultural development of its society. The Company has developed model mining operations through safe, cost effective and innovative technologies. Franklin Mining Inc.has purposed to uphold a great social commitment and respect for the environment while creating a robust value for its shareholders, employees, and the region within which it operates. Additional information can be found at the Company's corporate website: www.FranklinMining.com.
Safe Harbor Act: This release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report.
SOURCE Franklin Mining, Inc.