COEUR D'ALENE, Idaho, June 3 /PRNewswire-FirstCall/ -- Metalline Mining Company (NYSE Amex: MMG) announces progress on the planned activities that are detailed in its Press Release dated May 7, 2010. The aggressive exploration drill program, planned to increase to 6 drills has been increased to 7 drills and will be completed with the arrival of Metalline's reverse circulation drill which is in transport to Sierra Mojada from Salt Lake City, Utah. Metalline's 3 large diamond drills are operating 2 eight hour shifts per day 6 days per week, 2 diamond core drills were contracted and are operating 24 hours 7 days per week. In addition 1 reverse circulation drill was contracted to drill and set casing through alluvium and operates 20 twelve hour shifts, then a 10 day break. All 7 drills will continue drilling in the west end of the district, predominantly on the North Side silver resource that was announced previously; see the Google drill map on Metalline's web site. The program ramp-up has gone very well.
Metalline has a drill hole sample stockpile of about 7000 samples. These samples were analyzed by Metalline's assay lab and exceed the screen limit of 10 g silver and/or 1% zinc. They are being shipped for assay to ALS CHEMEX, Vancouver at the rate of 700-1000 samples per week. Currently there are over 2000 samples in process for assay and the first results are beginning to be returned. The results of this work will be released as results are received and evaluated.
The analytical work includes certified standards, blanks, and duplicate samples as required to comply with international engineering standards. The work is under the supervision of Terry Brown, Vice President of Metalline, and Roger Kolvoord, Executive Vice President, both of whom meet the requirements for Qualified Person under Canadian securities regulations.
Metalline plans to complete a comprehensive update of the resource model by the end of 2010. An initial program of metallurgical test work is in progress to assess recoveries by various process methods that can be expected from the silver and associated zinc, copper and lead mineralization. This program will be expanded as more samples are available from core drilling in the west end. The results of drilling and metallurgy studies are scheduled to be available for use in a Preliminary Economic Assessment (Scoping Study) beginning early next year.
This news release contains forward-looking statements regarding future events and Metalline's future results that are subject to the safe harbors 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 potentials in its business and other characterizations of future events or circumstances are forward-looking statements. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict, including those identified elsewhere herein and Metalline's Annual Report on Form 10-K for the fiscal year ended October 31, 2009 under "Risk Factors." Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Metalline undertakes no obligation to revise or update any forward-looking statements for any reason.
SOURCE Metalline Mining Company