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"
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