Vancouver, British Columbia (FSCwire) - Lincoln Mining Corporation, TSX-V: LMG (“Lincoln” or the “Company”) announces that its subsidiary, Lincoln Resource Group Corp. and Goldcliff Resources (US) Inc., a wholly owned subsidiary of Goldcliff Resources Corporation (“Goldcliff”), together referred to as (the “Partners”), are pleased to provide an update on the mine permitting progress at the Pine Grove gold project in Lyon County, Nevada. The Pine Grove project is being permitted as a 3,000 ton per day open pit/heap leach operation with the possibility of underground mining in the future. The main process plant will be a simple heap leach with solutions reporting to carbon columns and gold being recovered from the carbon off site. In addition to the heap leach process, the Partners are planning a 200 ton/day milling and gravity recovery operation designed to recover gold from possible high grade zones. Historic production records from Pine Grove indicate that high-grade zones in excess of one (1) ounce per ton of gold were mined between 1866 through 1887.

 

Subject to permitting approvals and a positive feasibility study, the goal of the Partners is to have Pine Grove ready for production by early 2020. While Nevada is considered the most mining friendly jurisdiction in the United States, the permit process remains lengthy and detailed. The Company’s timeline for the project is challenging and management is working with the lead agency, the US Forest Service, and the appropriate state and County agencies to meet the project timeline.

 

A Plan of Operations is progressing under the guidance of Welsh Hagen Associates and Kappes Cassiday and Associates. Upon submission to the regulatory authorities, expected in August 2018, the Partners will then be instructed on the information and detail that must be included in its Environmental Impact Statement (EIS). Since 2009, Lincoln has contracted Stantec Consulting Services Inc. to conduct environmental baseline studies at the project site. These studies have included wildlife, botanical and cultural surveys, geochemical characterization studies of potential waste and mineralization, jurisdictional water studies, seeps and springs survey, and meteorological data collection. A hydrological study is planned once exploratory water wells are completed. This study will include a conceptual site model. In addition, archaeological and cultural resource studies are ongoing.

 

The Partners are presently awaiting US Forest Service approval and final Bonding determination for geotechnical work, which includes water well exploration drilling, condemnation drilling, auger drilling and various test pits for engineering purposes. Oriented core drilling is also planned to determine pit wall stability parameters.

 

Given the long lead time nature of permitting, the Partners to continue to focus its financial resources on permitting. A recent drill program on the Wilson deposit and reconnaissance soil sampling in both the Wilson and Wheeler deposit areas has demonstrated that the resource mineralization is open and other areas of the property have excellent potential for finding gold mineralization. The resource expansion and exploration potential at Pine Grove will continue to be tested once permitting work is well advanced.

 

It is the intent of both Lincoln and Goldcliff to work together to develop the Pine Grove project.  Lincoln will be the operator. Paul Saxton is a director of both Lincoln Mining Corporation and Goldcliff Resources Corporation.

 

Lincoln Mining Corp. is a Canadian precious metals exploration and development company with projects in various stages of exploration and development that include the Pine Grove gold property in Nevada and the Oro Cruz gold property in California.  In the United States, the Company operates under Lincoln Gold US Corp. and Lincoln Resource Group Corp., both Nevada corporations.

 

For further information, please contact Investor Relations at 604-688-7377 or visit the Company’s website at www.lincolnmining.com.

 

On behalf of Lincoln Mining Corporation

 

"Paul Saxton"

 

Paul Saxton, President & CEO

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

THIS PRESS RELEASE INCLUDES FORWARD-LOOKING STATEMENTS OR INFORMATION. ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACT INCLUDED IN THIS RELEASE, INCLUDING WITHOUT LIMITATION, STATEMENTS REGARDING THE STATUS OF THE PROPERTIES ARE FORWARD-LOOKING STATEMENTS THAT INVOLVE VARIOUS RISKS AND UNCERTAINTIES. THERE CAN BE NO ASSURANCE THAT SUCH STATEMENTS WILL PROVE TO BE ACCURATE AND ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SUCH STATEMENTS. IMPORTANT FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE COMPANY'S PLANS OR EXPECTATIONS INCLUDE AVAILABILITY OF CAPITAL AND FINANCING TO MAINTAIN THE COMPANY’S PROJECTS; GENERAL ECONOMIC, MARKET OR BUSINESS CONDITIONS; FLUCTUATING METAL PRICES; REGULATORY CHANGES; TIMELINESS OF GOVERNMENT OR REGULATORY APPROVALS AND OTHER RISKS DETAILED HEREIN AND FROM TIME TO TIME IN THE FILINGS MADE BY THE COMPANY. THE COMPANY MAKES ALL REASONABLE EFFORTS TO UPDATE ITS CORPORATE MATERIAL, DOCUMENTATION AND FORWARD-LOOKING INFORMATION ON A TIMELY BASIS.

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Source: Lincoln Mining Corporation (TSX Venture:LMG, OTC Pink:LNCLF, FWB:ZMG1)

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