Message #6 From:
Stock News Bot Date: September 19, 2006 06:00:00 AM
MMGG News Metalline Mining Sierra Mojada Update
COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Sept. 19, 2006--Metalline Mining Company (OTCBB:MMGG) announced on June 1, 2006 that it had contracted World Wide Exploration S.A. de C.V. to conduct a 3,500 meter surface diamond drill program at Sierra Mojada, Coahuila, Mexico. The drill program objectives are to explore the western continuation of oxide zinc mineralization, the north side polymetallic, copper, silver, zinc, lead, targets and condemnation drilling of the plant and tailings disposal sites.
Metalline has contracted Layne de Mexico to conduct a 4500 meter reverse circulation drill program to explore for water and condemnation drilling. Developing water sufficient for the mine and plant is a critical element of the mine and plant feasibility study.
The diamond drill has completed 13 exploration holes totaling 2302.4 meters and 4 condemnation holes totaling 196.5 meters. Results for two of the holes have been received. D5060601 was drilled to twin Penoles' drill hole W200.6 drilled in the Iron Oxide Manto in the Encantada Mine and intersected 30.5 meters, 129 to 159.5 meters, that averaged 7.03% zinc, including 9.5 meters, 150 to 159.5, averaging 17.93% zinc. The hole terminated by intersecting an underground drill station in high grade mineralization.
Previous joint venture partners North Limited and Penoles drilled near surface oxide zinc mineralization located 2 kilometers west of the San Salvador mine and the Iron Oxide Manto block model resource. Metalline has drilled 7 holes totaling 1321 meters to further test this mineralization. North Limited drilled two reverse circulation holes and Penoles drilled 6 diamond drill holes in this area. D5060805 is a twin of North Limited's NSM24 and intersected 28 meters, 7 to 35 meters, of 3.72% zinc, including 5 meters, 24 to 29 meters, of 11.58% zinc. The importance of this west area mineralization is that it is within 7 meters of the surface and mining would be by open pit method with low mining cost.
The diamond drill has been moved to the Juarez Mine area, has completed the first hole on the copper, silver, zinc, lead mineralization and has started the second hole. Four holes are planned to test the lateral extent of mineralization mined in the Juarez stope. The Juarez mineralization was square set mined and up to 30 meters thick.
Drill Hole Results:
Ag Cu Zn Pb
Hole ID From To ppm % % %
D5060601 129 130 57 less than 0.01 15.40 1.23
D5060601 130 131 9 less than 0.01 0.88 0.18
D5060601 131 132 9 less than 0.01 0.66 0.10
D5060601 132 133 6 less than 0.01 1.00 0.22
D5060601 133 134 3 less than 0.01 1.02 0.12
D5060601 134 135 8 less than 0.01 0.57 0.13
D5060601 135 136 4 less than 0.01 0.94 0.19
D5060601 136 137 2 less than 0.01 0.40 0.08
D5060601 137 138 less than 1 less than 0.01 0.38 0.09
D5060601 138 139 2 less than 0.01 0.38 0.09
D5060601 139 140 2 less than 0.01 1.05 0.21
D5060601 140 141 34 less than 0.01 3.52 0.46
D5060601 141 142 17 less than 0.01 1.28 0.22
D5060601 142 143 6 less than 0.01 1.40 0.15
D5060601 143 144 5 less than 0.01 6.98 0.26
D5060601 144 145
D5060601 145 146 4 less than 0.01 1.11 0.13
D5060601 146 147 32 less than 0.01 1.37 0.25
D5060601 147 148
D5060601 148 149 55 less than 0.01 4.40 0.33
D5060601 149 150 69 less than 0.01 1.30 0.58
D5060601 150 151 62 less than 0.01 18.55 0.67
D5060601 151 152 50 less than 0.01 20.70 0.55
D5060601 152 153 83 less than 0.01 10.20 0.40
D5060601 153 154 22 less than 0.01 23.40 0.35
D5060601 154 155 13 less than 0.01 25.10 0.55
D5060601 155 156 9 0.01 19.20 0.62
D5060601 156 157 11 less than 0.01 21.70 0.38
D5060601 157 158 18 less than 0.01 1.81 0.04
D5060601 158 159 11 less than 0.01 3.24 0.03
D5060601 159 159.5 1 less than 0.01 26.40 0.10
Ag Cu Zn Pb
Hole ID From To ppm % % %
D5060805 7 8 9 less than 0.01 2.90 0.63
D5060805 8 9 37 less than 0.01 2.73 1.78
D5060805 9 10 40 less than 0.01 5.44 1.86
D5060805 10 11 24 less than 0.01 2.12 0.74
D5060805 11 12 18 less than 0.01 2.09 0.31
D5060805 12 13 28 less than 0.01 1.47 0.26
D5060805 13 14 29 less than 0.01 0.40 0.23
D5060805 14 15 57 less than 0.01 0.66 0.18
D5060805 15 16 51 less than 0.01 1.26 0.33
D5060805 16 17 51 0.01 2.41 0.61
D5060805 17 18 52 0.01 2.31 0.83
D5060805 18 19 32 less than 0.01 2.54 0.68
D5060805 19 20 26 less than 0.01 1.40 0.45
D5060805 20 21 63 less than 0.01 1.65 0.50
D5060805 21 22 230 less than 0.01 3.07 0.69
D5060805 22 23 80 less than 0.01 2.22 0.45
D5060805 23 24 34 less than 0.01 0.36 0.16
D5060805 24 25 16 0.04 9.40 0.45
D5060805 25 26 11 0.10 12.10 0.78
D5060805 26 27 16 0.09 10.40 0.55
D5060805 27 28 7 0.12 17.55 0.76
D5060805 28 29 16 0.05 8.45 0.51
D5060805 29 30 19 0.02 2.86 0.24
D5060805 30 31 19 0.01 1.46 0.11
D5060805 31 32 12 0.01 2.31 0.07
D5060805 32 33 12 less than 0.01 0.90 0.04
D5060805 33 34 22 0.01 1.80 0.10
D5060805 34 35 12 0.01 1.89 0.09
Forward-Looking Statements
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-KSB for the fiscal year ended October 31, 2005 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.
