LAS VEGAS, Sept. 20, 2012 /PRNewswire/ -- FRANKLIN MINING, INC. (Pink Sheets: FMNJ) – is pleased to announce that CEO and Chairman William Petty has concluded an evaluation of the site and reports that the assessment went better than expected. It was discovered that there is equipment still on the property including housing infrastructure, front end loader, a hoist and a tractor. The Company intends to re-launch production eminently.
Franklin Mining has decided that because of the ever increasing value of Ore, that it is supremely advantageous at this time to execute on the opportunity to develop the Company's mining property in Clear Creek County, Colorado. "There has never been a better time than now," stated William Petty Chief Executive, Franklin Mining. He continues: "This property was previously equipped for production at a time when Ore was a fraction of the cost we see today. With the substantial investment already placed in the construction of the Franklin Mill coupled with the rehabilitation of the Franklin and Freighters Friend shafts and underground workings, we continue to find that this will be the one of its most profitable ventures that we have embarked upon yet."
The Company has reported in past filings that the mineral evaluations completed on the property in past have revealed the probability of yielding strong mineral production. Particularly in a February 19, 1998 a survey was conducted by Steven R. Schurman, a Certified Professional Geologist and president of MinSearch, Inc. The official review of existing technical data relative to ore bodies found at the Franklin Mine in February and in October, 1998, revealed two areas of strong gold mineralization approximately halfway between the Franklin and Freighters Friend shafts on the 900 and 976 levels of the mine. The ore grade gold mineralization was defined by 76 samples taken at five-foot intervals along the vein. The sampling indicates the presence of 6,200 tons of rock containing an average of 0.91 oz/ton gold, 9.5 oz/ton silver and substantial quantities of lead and zinc.
These results were announced on November 11, 1998 by Franklin Mining, previously traded as WCM CAPITAL, INC. under the ticker symbol WCMC and can be found at: http://sec.edgar-online.com/wcm-capital-inc/10qsb-quarterly-report-of-financial-condition/1998/11/25/section20.aspx
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.
About Franklin Mining, Inc. – Franklin Mining, Inc. is a publically 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.
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SOURCE Franklin Mining, Inc.