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COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES: Franklin Mining Announces Cerro Rico Second Vein Shows Potential Reserves of Over 7 Million Ounces of Silver
LAS VEGAS, NV, Jul 13, 2006 (MARKET WIRE via COMTEX) -- Franklin Mining, Inc (PINKSHEETS: FMNJ) is pleased to announce today the significant value of the Cerro Rico Second Vein. The Cerro Rico Mine is considered by many to be the world's largest silver mine.
The Second Vein of the Cerro Rico is called Mesa Pata. According to the prospective reserve reports provided to Franklin Mining by COMIBOL, Mesa Pata is believed to contain approximately 1,041,600 tons of ore, 208,320 kilos of silver and 62,496 metric tons of zinc, roughly 7,346,196 ounces of silver and 137,741,184 pounds of zinc.
Franklin Mining, Bolivia (a subsidiary of Franklin Mining, Inc) recently announced its definitive joint venture with COMIBOL (the Bolivian national mining company) on four veins of the Cerro Rico Mine.
The combined estimated reserves for the San Miguel vein (the first COMBIOL report received) and the Mesa Pata vein are about 362,320 kgs of silver, 91,704 tons of zinc and 9,881 tons of tin, yielding approximately 12,776,852 ounces of silver, 202,115,616 lbs of zinc and 21,777,724 lbs of tin.
"The potential of the second vein is very promising. The information provided to us by COMIBOL is exciting, and we will begin to review and analyze the details provided as well as the potential reserves for the remaining two veins," stated Jaime Melgarejo, President of Franklin Mining, Inc.
Metals prices this week show silver at $11.61 USD per ounce, tin at $3.96 and zinc at $1.59 per lb.USD.
DISCLOSURES:
About Franklin Mining, Inc:
Franklin Mining currently has interests in Bolivia and the United States and opened a wholly owned subsidiary in Bolivia. Franklin Mining, Inc's Bolivian subsidiaries include Franklin Mining, Bolivia and Franklin Oil & Gas, Bolivia. For information about Franklin Mining, Inc. visit our website: http://franklinmining.com.
About Cerro Rico Mine:
The Cerro Rico Mine is considered by many to be the richest silver mine in the world. Rich in zinc and silver, it has been actively mined since the 1500s and is in operation today. Cerro Rico is owned by Bolivia's national mining company, COMIBOL.
About COMIBOL:
COMIBOL is the government owned mining company in Bolivia. COMIBOL owns the Cerro Rico mines as well as many other properties and mineral rights in Bolivia.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand, market acceptance r
Posts: 5120 | Registered: Jun 2004
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Unreal.... buy after buy comes in at .041 and Doms won't move. Look at the tape, next to no selling. I would like to see Nite move up on the ask a little. Any theories Ponce? Schwabie?
-------------------- Thanks Matto. Thanks Juice. Posts: 2945 | From: USA | Registered: Feb 2006
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Franklin Mining Announces Cerro Rico Third Vein Shows Potential Reserves of Over 8 Million Ounces of Silver
LAS VEGAS, NV -- (MARKET WIRE) -- 07/18/06 -- Franklin Mining, Inc. (PINKSHEETS: FMNJ) is pleased to announce today the significant value of the Cerro Rico Third Vein.
The Third Vein of the Cerro Rico is called A. Barreno. According to the prospective reserve reports provided to Franklin Mining by COMIBOL, A. Barreno and its branches is believed to contain approximately 1,079,358 tons of ore, 237,289 kilos of silver and 56,194 metric tons of zinc, roughly 8,367,777 ounces of silver and 123,626,800 pounds of zinc.
Franklin Mining, Bolivia (a subsidiary of Franklin Mining, Inc.) recently announced its partnership with COMIBOL (the Bolivian national mining company) on four veins of the Cerro Rico Mine.
The combined estimated reserves for the San Miguel vein, Mesa Pata vein and the A. Barreno vein is about 599,609 kgs of Silver, 147,898 tons of zinc and 9,881 tons of tin, yielding approximately 21,144,629 ounces of silver, 325,742,416 lbs of zinc and 21,777,724 lbs of tin.
"The potential of the third vein with its branches has exceeded our expectations. The information provided to us by COMIBOL is exciting, and we will begin to review and analyze the details provided as well as the potential reserves for the remaining vein," stated Jaime Melgarejo, President of Franklin Mining, Inc.
DISCLOSURES:
About Franklin Mining, Inc.:
Franklin Mining currently has interests in Bolivia and the United States and opened a wholly owned subsidiary in Bolivia. Franklin Mining, Inc. Bolivian subsidiaries include Franklin Mining, Bolivia and Franklin Oil & Gas, Bolivia. For information about Franklin Mining, Inc. visit our website: http://franklinmining.com.
About Cerro Rico Mine:
The Cerro Rico Mine is considered by many to be the richest silver mine in the world. Rich in zinc and silver, it has been actively mined since the 1500s and is in operation today. Cerro Rico is owned by Bolivia's national mining company, COMIBOL.
About COMIBOL:
COMIBOL is the government owned mining company in Bolivia. COMIBOL owns the CERRO RICO mines as well as many other properties and mineral rights in Bolivia.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in Franklin Mining Inc.'s filings with the Securities and Exchange Commission. These risks could cause Franklin Mining Inc.'s actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, Franklin Mining Inc.
Contact: Franklin Mining, Inc. Andrew Austin 1-702-386-5379
-------------------- Insanity: doing the same thing over and over again and expecting different results Posts: 491 | Registered: Jun 2006
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Bolivia's Minister of Mines and Metallurgy Announces Guarantee of Operations & Support for FMNJ & COMIBOL Mining Efforts Market Wire - July 27, 2006 1:00 PM ET
Franklin Mining, Inc. (PINKSHEETS: FMNJ) CEO Jaime Melgarejo announced today that Bolivia's Minister of Mines and Metallurgy, Walter Villarroel Morochi, released a written statement of support and commitment to organize and "guarantee a normal functioning mining operation" for COMIBOL and FMNJ. Bolivia's Minister was also quoted from a press conference, promoting mining development with the assurance that "Bolivia remains competitive on an international level."
In addition to the letter of commitment addressed to Franklin Mining, the press conference was held on May 3, 2006, with the Prospectors and Developers Association of Canada Convention in Toronto. Bolivian Minister of Mines and Metallurgy, Mr. Walter Villarroel Morochi, addressed the need to "create a competitive and secure environment for mining investment that will foster job creation, infrastructure modernization and industry partnership."
Morochi was quoted as saying, "We believe that many of these existing mining areas and areas with new potential, when properly evaluated with modern exploration technology and mining techniques, will highlight the potential for the discovery of important mineral deposits -- deposits which can surely have the opportunity to be transformed into business enterprises of world-wide importance."
"One of the key objectives of my office is to send a positive message to participants at the annual convention of the PDAC, to attract investor interest in developing and expanding the small existing mining operations, as we are confident that there are very high probabilities of finding many more important mineral deposits. Currently, we have an extensive list of investment requests from mining cooperatives and active mining companies that range from one-half million dollars to 2 million dollars. These are important opportunities that are available to be taken advantage of."
"Furthermore, we will take measures that will encourage investment in ventures both large and small. One example of this will be the declaration of 'integrated mining areas' that will respect pre-existing mineral rights in areas where many small mining concessions exist by unifying development efforts. This will allow the Bolivian state to promote the search of strategic partners for the development of these areas. "
"This is just one example of several measures that will be taken to promote mining development and ensure Bolivia remains competitive on an international level. We are pleased and very willing to provide any information that the investors interested in our country will require. "
"I am pleased to have this opportunity to send the message from the President, that we are working hard to establish the legal security that investment in the mining industry requires on a long term basis."
To read more details on the support of the Bolivian government and the Minister of Mines and Metallurgy, please visit http://www.mineria.gov.bo/
Franklin Mining, Bolivia S.A. (a Bolivian corporation) is a subsidiary company of Franklin Mining, Inc. COMIBOL is Bolivia's state-owned mining company.
For additional information on Franklin Mining, Inc, please visit our web-site, www.franklinmining.com. To receive Franklin Mining news by e-mail, please send contact information to info*franklinmining.com.
DISCLOSURES:
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in Franklin Mining, Inc.'s filings with the Securities and Exchange Commission. These risks could cause Franklin Mining Inc.'s actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, Franklin Mining Inc.
posted
ive always been warned to try to stay away from DOMS. Was told if he was there it was being diluted
Posts: 725 | From: Levelland | Registered: Mar 2006
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