Franklin Mining, Bolivia - incorporated registred as a 100% Bolivian company -
2005 when a letter of intent was signed with - Joint Venture Partners - COMIBOL & FENCOMIN -
In 2006, the letter of intent - was converted to a contract where Franklin Mining, Bolivia - now has the rights - to the project is referred to as Palivari II alternative 3 - (for information on Cerro Rico Project - hit this link Cerro Rico) - http://tinyurl.com/y54k7r
In 3rd quarter 2006, Franklin Mining, Bolivia - signed a contract called - the Pulacayo Tailings project where it has been reported over 4 million tons of tailings exist (for information on Pulacayo Talings project hit this link Pulacayo) - Franklin Mining, Bolivia has a 51% interest in this project - Franklin Mining, Bolivia - now has the rights - http://tinyurl.com/y4vuuo http://tinyurl.com/yhq94v
The Pulacayo Silver Mines - the second-largest Silver mine - in the history of Bolivia with over 600 million ounces - of past production -
Pulacayo’s history is an important chapter in Bolivian mining -
Its Silver production, it was the prime mining city in Bolivia -
It has marked an era in mining history since the years from Aniceto Arce, who commissioned the construction of the first railroad in Bolivia in 1890 to connect the mine with Antofagasta.
It is also the best example of private mining enterprises in Bolivia.
The mining center of Pulacayo has been an important mining area close to 300 years. It has been the principal mining center, not only in terms of an industrial settlement without equal, but also - because it was the cradle of one of - the principal union doctrines.
It currently has a decaying economical activity and the town is suffering a gradual abandon, although the mining buildings are in good status, despite de abandonment.
The mineral rich landscape around the town is well preserved - Franklin Mining, Bolivia - Joint Venture partner COMIBOL - owns the Pulacayo mine project - Franklin - Re-Starting mining - # 1 to clean up the tailings from past mining operations - to better enhance a more positive future - habitation environment for the Pulacayo miners city -
Pulacayo Project Set to Begin; Cerro Rico Studies Are Complete - LAS VEGAS, NV -- (MARKET WIRE) -- 01/18/2007 --
Franklin Mining, Inc. - (FMNJ) CEO Jaime Melgarejo, Jr. has confirmed that processing of the Pulacayo Tailings is about ready to begin and that all studies necessary to begin operations in the Cerro Rico Mine - are complete.
As part of an expanded due diligence, a 100 Kg sample was taken from the Pulacayo Tailings for laboratory analysis and results were greater than expected. A second, larger sample of 1,000 Kg was collected and sent to a COMIBOL approved laboratory; results of this confirming analysis are expected in about two weeks.
The final step before receiving COMIBOL approval to begin processing Pulacayo Tailings is the analysis of 200 samples to determine extraction technology. Those samples have been collected and sent to a COMIBOL approved laboratory in Argentina. Processing will begin following this report's receipt, which will generate immediate cash flow.
Working through consultants, Franklin has completed all feasibility studies required to begin operating in the Cerro Rico and is looking forward to working with COMIBOL in the redevelopment of this historic mine.
In concluding today's announcements, Mr. Melgarejo said, "Now that we are in the final days before we begin processing Pulacayo Tailings, I very much appreciate the hard work of our consultants and their many contributions in bringing us to this point. As we move forward with final reviews of plans for the Cerro Rico Mine operation - I'm looking forward to working with our consultants and to the continued co-operation of JV.-COMIBOL personnel. Soon we will all benefit from months of hard work. Not only will there be cash-flow to the partnership, Franklin's balance sheet will be significantly improved with the addition of two working projects."
Franklin Mining, Inc. has interests in the United States, Argentina and Bolivia which include a wholly owned subsidiary, Franklin Mining, Bolivia, as well as 51% interest in Franklin Oil & Gas, Bolivia and 51% interest in Franklin Oil & Gas, Argentina.
DISCLOSURES:
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: ---- in any forward-looking statements made by, or on behalf of, Franklin Mining, Inc.
For Further Information check out our website http://www.franklinmining.com or contact: Investor Relations: Mr. Andrew Austin 1-702-386-5379
Pulacayo once had 50 000 inhabitants but now that the mine is only worked by a cooperative of about 40 miners it only has 800 inhabitants.
The first train to come to bolivia in the 1890's was only 70cm tall!n It came to Pulacayo with in the 19th century was the biggest Silver mine in Bolivia and possibly the world.
This locomotive brought Silver from Pulacayo to the Chilean port of Arica. In 1909 Butch Cassidy and the Sundance Kid attacked and made off with the loot.
A government feasibility study calculated - on shallow drilling results - subterranean mine burrowing into - the Cerro Rico could produce - 266 million ounces of Silver over 25 years - churning through 54 million tons of ore - graded Ag at 182 grams per ton -
Eyeing the bigger load lurking in the lure of - the Cerro Rico - mountain's interior, which estimated at shallow upper chamber levels - a minimum 250 million ounces of Silver worth billions - of fiats remain for - FMNJ Mission - with social majority resp. accepted - in Potosi -
fig. the inflasion since - the Silver would be much more than $8000.- per ounce today - (if it was a fair market playingfield - without ratchillz banksterz manipulated the market - since the past 500 years) -
Are the lemmings following LT Bucky? - U.S $ INDEX (NYBOT:DX) -
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