VANCOUVER, British Columbia, April 26, 2011 /PRNewswire/ -- Metalline Mining Company (TSX: MMZ, AMEX: MMG) ("Metalline") is pleased to announce that we have made available the report entitled "Historical Oxide Zinc Resource Review – Sierra Mojada Project" independently prepared by JDS Energy & Mining Inc. ("JDS").
The report was commissioned to review all recent work on the zinc oxide mineralization at Sierra Mojada. A summary of the findings by JDS is as follows:
- The mining of the "Shallow Silver Zone" defined in the NI 43-101 compliant resource report released April 20, 2011 and the "Red Zinc Manto" could be expected to have a positive impact on the economics of the zinc resource by reducing the overall strip ratio.
- The overlap between the silver and zinc mineralization lends itself well to a two stage processing circuit whereby the silver is mined first and the zinc is stock piled for later processing.
- Many areas within the current "inferred" Zinc Resource are under-drilled and further work needs to focus on filling in these gaps to increase confidence.
- There remains significant exploration upside for zinc mineralization by targeting the deeper "White Zinc Manto".
The report goes on to outline three immediate value-add opportunities for the project in 2011:
- Expand the resources up and down dip, along strike to include the smithsonite zone and increase the resources of the shallow silver zone (increased resources).
- Identify waste-stripping synergies between the zinc oxide and the near surface silver resources (reduced stripping).
- Upgrade a significant portion of the resources from an Inferred classification to Measured or Indicated (increased confidence).
JDS has been hired by Metalline in a consulting capacity for the Sierra Mojada project since July 2010. Part of their mandate has been to review and compile all data at Sierra Mojada.
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.
On behalf of the Board of Directors
Tim Barry, MAusIMM
Chief Executive Officer, President and Director
Cautionary note regarding forward looking statements. This news release contains forward-looking statements regarding future events and Metalline's future results that are subject to the safe harbours created under the Securities Act of 1933 (the "Securities Act") and the Securities Exchange Act of 1934 (the "Exchange Act"). These statements are based on 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 potential in its business and other characterizations of future events or circumstances are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, including such factors as the volatility and level of commodity prices, currency exchange rate fluctuations, uncertainties in cash flow, expected acquisition benefits, exploration mining and operating risks, competition, litigation, environmental matters, the potential impact of government regulations, and other matters discussed under the caption "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended October 31, 2010 and subsequent periodic reports, many of which are beyond our control. Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those expressed or implied in the forward-looking statements.
SOURCE Metalline Mining Company