Franklin Mining Announces Cerro Rico Second Vein Shows Potential Reserves of Over 7 Million Ounces of Silveradmin
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.
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.
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