Franklin Approves $1.6 Million US Capital Plan for On-Site Processing at the Escala Mine
Franklin Mining, Inc. Chairman and CEO William Petty announces that Dr. Jaime Arrancibia (General Manager, Franklin Mining, Bolivia) and Mr. Paul Baker (Mine Consultant) have returned to the Escala Mine to complete their final evaluation of the site selected for placement of the first large-scale processing plant. Franklin’s recently approved $1.6 million USD capital plan provides for eight on-site plants. Each plant has a maximum 200 ton per day capacity.
“The equipment we’ve selected for use at the Escala is erected on trailers and skids and is available as soon as we receive our final SGS analysis. Once on-site, individual plants could be relocated as work progresses or as other tunnels come online. However, our plan is to have eight plants, each strategically located for maximum efficiency as mine development continues.”
Mr. Petty concluded, “Another crucial element we’ve built into the Escala’s strategic plan is the opportunity to provide services to independent miners on a commercial basis. At present, there are about 48 producers in the area and our ability to provide local processing could become a significant source of additional revenues as we continue developing the Escala and building our network of eight plants.”
Franklin Mining, Inc. has mining and energy interests in the United States and Bolivia as well as energy interests in Argentina. Franklin Oil & Gas, Inc. and Franklin Mining, Bolivia are wholly owned subsidiaries. Franklin Mining, Inc. holds 51% ownership in both Franklin Oil & Gas, Bolivia S.A. and Franklin Oil & Gas International S.A. Additional information is available at www.FranklinMining.com.
