Lincoln Mining Corporation, TSX-V: LMG has announced that its U.S. subsidiary, Lincoln Gold US Corp., has staked an additional 63 lode claims at the Oro Cruz gold property in Imperial County, California.
The new claims cover structural projections of the American Girl and Madre-Padre gold deposits which were mined in the late 1980's to the mid 1990's. Lincoln's new claims cover prospective pediment areas as well as various gold prospects in local bedrock. The Oro Cruz property now consists of 20 lode claims held under a mining lease, 68 lode claims previously staked by Lincoln, and the 63 new lode claims for a total of 151 claims comprising over 3,000 acres. Lincoln controls 100% of the property.
As previously disclosed on September 21, 2010, an independent Technical Report by Tetra Tech Corp. (Golden, CO) reports a National Instrument 43-101 inferred resource of 341,800 ozs gold contained in 4,835,000 tons of mineralized material grading 0.070 oz per ton gold using a 0.02 oz per ton gold cutoff grade. Approximately 90% of the resource is in the main Oro Cruz deposit which is a shallow-dipping tabular body with good to excellent continuity of mineralization. The deposit remains open down dip. During 1995-1996, over a 12-month period, the Oro Cruz mine produced 61,000 ozs gold prior to being shut down due to low gold prices. Production was from open pit and underground. Lincoln retains all technical data from 491 drill holes, 13,628 blast holes, and 2,960 underground samples. Ore-grade material is exposed in the pit and in the underground workings. The underground workings are accessible and in excellent condition.
Lincoln plans to advance Oro Cruz to production over the next several years.
Mr. Jeffrey Wilson, the Company's Vice President Exploration and a Qualified Person under National Instrument 43-101, supervised the preparation of this news release.
Source: Lincoln Mining Corporation