Like a Tornado through a Trailer Park
OTC: FMNJ – Franklin Mining, Inc. — Stock Guru Profile
Franklin Mining gained 4,900% the first time we covered them. They are back in a big way.
Franklin Mining will participate in hard rock mining at the Cerro Rico Silver Mine. The estimated silver, tin and zinc reserves in the five announced veins and branches of the Cerro Rico Silver Mine have current market values of approximately $2.2 Billion USD.
COMIBOL reports on the five main veins indicate they hold over 5.5 million metric tons of ore. The veins are San Miguel, San Pedro, San Pedro 1, Mesapata and Alkco Barreno.
Let’s look at this report:
The combined estimated reserves are about 938,130 kgs of silver, 250,004 tons of zinc and over 72,377 tons of tin, yielding approximately 33,018,564 ounces of silver, 550,784,040 lbs of zinc and 159,518,908 lbs of tin.
The Report provided to Franklin by COMIBOL
In early 2006, COMIBOL and Franklin Mining, Bolivia signed a contract for the area that contains these veins mentioned above. The terms of that contract is that Franklin Mining, Bolivia would first invest $140,000.00 USD in a development plan.
Once the plan is reviewed and approved Franklin will begin plans for production and after repayment of investment. After investment costs are recouped COMIBOL will then particpate on a 50/50 basis in the profits. Now that’s a sweet deal.
Franklin is working on a development plan to accomplish the following in relation to this project:
Set Contamination Level of area prior to work
Advise additional contamination that may occur
Confirm qty. of veins, ore sizes, and mineral values by sampling
Confirm location of veins
Advise proposed methods of works
Advise prospective costs and profit margins
Set time schedule of works
Confirm required investment
Franklin retained Z&H to create the plan and Behre Dohbear to advise, review and approve the plan.
The combined estimated reserves are about 938,130 kgs of silver, 250,004 tons of zinc and over 72,377 tons of tin, yielding approximately 33,018,564 ounces of silver, 550,784,040 lbs of zinc and 159,518,908 lbs of tin.
Source: Franklin Mining
Contact:
Investor Relations
A. Austin & Company
1-702-386-5379
SOURCE: Franklin Mining, Inc.
Jaime Melgarejo Jr., President
Franklin Mining, Inc.
2764 Lake Sahara Driveoli
Suite 111
Las Vegas, NV 89117
Website: http://www.franklinmining.com
Phone: 702-944-8972
Fax: 702-838-5130
About Franklin Mining, Inc: Franklin Mining, Inc. has mining and exploration interests in the United States, Argentina and Bolivia including a wholly owned subsidiary, Franklin Mining, Bolivia S.A, and 51% ownership in both Franklin Oil & Gas, Bolivia S.A. and Franklin Oil & Gas, Argentina S.A.
“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.
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