Franklin Mining Announces Pulacayo Tailings Programadmin
Franklin Mining, Inc. announces program for funding their mining operations. The Pulacayo operation is purely tailings (Tailings are produced when metallic ores are ground into fine powder to free the metal-bearing mineral.). The investment for Pulacayo tailings is $1.5 million. Franklin Mining and Kempf Mining will share the partnership as: Franklin – 51%, Kempf – 27% and Peruvian group – 12%. COMIBOL will be paid 0 to 15 $US/ton of tailings.
Franklin Mining will lease the first mining plant from Eco Mining, Inc. of Bolivia. It should be operational in October and will produce up to $200,000 to Franklin Mining per month with an increase of up to 10 plants by January 2007. The processing will produce 4,000 tons per day.
The existing tailings and metal grades consist of 4,000,000 tons of tailings. The total weight of silver is equal to 248 kg and 7,973,507 Troy ounce silver ingots.
There will be 400 tons a day, 2nd phase for 1,600 tons a day, 3rd phase 4,000 tons per day. There is a total of seven million ounces of silver, 121 proven ounces of gold.
Franklin Mining announces the first tailings processing plant will be operational in October and will be producing 400 tons per day. There will be $200,000 to Franklin Mining after startup of the plant per month.
The engineers have reported 4,000,000 million tons of tailings of silver. There is also 1 gr/ton of gold that equals 128.605 Troy ounces of gold ingots.
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://www.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 1500′s 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