Franklin Mining Announces That Mining Project Has Estimated - Mineral Reserves of About 2.2 Billion Dollars - LAS VEGAS, NV, Oct 19, 2006 (MARKET WIRE via COMTEX) --
Franklin Mining, Inc. - FMNJ - announced today that estimated current market value of the 5 veins and branches are estimated at 2.2 Billion Dollars.
According to a report provided to Franklin Mining, Inc. - by COMIBOL, the five veins and branches of the project in the Cerro Rico Mine - are projected to hold about 5 million metric tons of ore, with the combined estimated reserves said to contain - about 1,028,645 kgs of Silver - 265,933 tons of Zinc - and over 72,377 tons of Tin -
yielding approximately 36,274,137 ounces of Silver - 586,117,434 lbs of Zinc - and 159,518,908 lbs of Tin -
The reserve value is based on current LME prices of Silver - Tin and Zinc -
The following was taken from a report provided to us by COMIBOL. The following are reported to be in the contract area -
LEVEL VEIN LENGTH HEIGHT WIDTH S.W. ------------------------------------------------- "0" P A.B. 940 210 .70 3.1 "0" P A.B.R 1000 300 .70 3.1 "0" P Mesa 1600 300 .70 3.1 "0" P S.M. 1600 300 .70 3.1 "0" P S.M.R. 300 200 .70 3.1 "0" P S.P. 1600 300 .70 3.1 "0" P S.P.1 1000 300 .70 3.1 ------------------------------------------------- TOTAL 8040 273 .70 3.1 LEVEL VEIN MIN TONS DM Ag %Zn KF Ag F.TON Zn ---------------------------------------------------------------- "0" P A.B. 428358 2.5 4 107089.5 17134.32 "0" P A.B.R 651000 2 6 130200 39060 "0" P Mesa 1041600 2 6 208320 62496 "0" P S.M. 1041600 2.26 4.22 235401.6 43955.52 "0" P S.M.R. 130200 .7 1.33 9114 1731.66 "0" P S.P. 1041600 2 6 208320 62496 "0" P S.P.1 651000 2 6 130200 39060 ---------------------------------------------------------------- TOTAL 4985358 1.92 4.79 1028645 265933.5 A.B. : Alcko Barreno A.B.R.: Alcko Barreno branches (Branch: small outcrops that run perpendicular to the main vein). Mesa : Mesapata S.M. : San Miguel S.M.B.: San Miguel Branches S.P. : San Pedro S.P.1 : San Pedro one (this is another structure near to the other vein).
Currently the Company is working on a development plan for the project in the Cerro Rico Mine - Upon review and approval of the development plan by COMIBOL, Franklin Mining - will move forward with the commencement of their production plan as it converts to an operation contract -
For more information about the Cerro Rico Mine Project - including the translated report that was provided to us by COMIBOL on the project in the Cerro Rico - please visit our website - www.franklinmining.com
About Franklin Mining, Inc:
Franklin Mining currently has interests in Bolivia and the United States and opened a wholly owned subsidiary Franklin Mining, Bolivia and majority ownership in 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 1500s and is in operation today. Cerro Rico is owned by Bolivia's national - mining company, COMIBOL.
About 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.
DISCLOSURES:
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995--- 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 1-702-386-5379
SOURCE: Franklin Mining, Inc.
Franklin Mining - FMNJ is at the LT bottom -
The 1st LT Bull wave confirmed started - expect to see a LT Elliott wave pattern - to hike FMNJ back UP -
FMNJ TI TA - Ex. -
Bollinger bands - trading bands - widely used to determine overbought/oversold levels -
sharp moves tend to occur - after the bands tighten to the average -
FMNJ TA TI Elliott wave swing lines pattern - indicating 1st LT bull wave done - also the 5-wave ST correction wave done -
the 2nd LT bull wave started -
FMNJ - 52 Wk Hi $0.15 -
RE: Fibonacci Price Levels -
FMNJ - Fib TA frequently price correction - will often be 38% or 62% of prior trend -
FMNJ - Fib new trends are often 162% of - the pevious correction -
FMNJ - Fib correction about $0.02 - FMNJ - Fib new trend 162% x 13 = to about $0.21 -
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