May 19 2010
Lincoln Mining Corporation, TSX-V: LMG ("Lincoln" or the "Company") is pleased to announce that continued review of recent drill data from its Pine Grove property in Lyon County, Nevada is revealing high-grade gold intercepts worthy of a step-out drilling program.
Reverse-circulation drill hole WL-68, located on the northeastern edge of the Wilson deposit, encountered a 5 ft zone (not true thickness) yielding 12.95 oz. per ton gold (444 g/T Au). Nearby holes also contain intercepts from 5 to 15 ft in thickness (not true thickness) grading from 0.112 to 0.275 oz per ton gold (3.84 g/T to 9.43 g/T AU) with attending lesser grades. The Company plans to follow known gold mineralization along a 400 ft front by systematic step-out drilling on 100 ft centers for approximately 400 ft to the northeast.
Additional high-grade drill hole intercepts have been encountered on the southwestern edge of the Wilson deposit. Reverse-circulation holes WL-80, WL-97 and WL-89 hit various 5 ft zones (not true thickness) including 0.385, 0.519, 0.820, and 1.17 oz per gold (ranging from 13.20 g/T to 40.11 g/T).
Company drilling on the nearby Wheeler deposit encountered two new high-grade intercepts. Reverse-circulation hole WR-105 encountered 5 ft grading 2.25 oz per ton gold (77.14 g/T Au) from 170 to 175 ft and hole WR-117 hit 5 ft grading 2.27 oz per ton gold (77.83 g/T Au) from 85 to 90 ft. (not true thicknesses).
These results reaffirm the existence of high grade mineralized zones which formed the basis of past production. Historic production from the district focused on high-grade gold mineralization with the underground production of an estimated 240,000 ounces of gold grading an average of 1.4 oz per ton (or 48 g/T Au.).
In addition to systematic step-out drilling on the Wilson deposit, Lincoln plans to conduct various metallurgical and geotechnical drilling to advance the property towards production.
Mr. Jeffrey Wilson, the Company's Vice President Exploration and a Qualified Person under National Instrument 43-101, supervised the preparation of this news release.
The Company is having the resource estimate recalculated using the most recent drill results combined with historical drilling results as a basis for a scoping study leading to feasibility and potential production.
Gold resources (NI 43-101 compliant Sept. 30, 2008) in the Wheeler and Wilson deposits are estimated by MineFill Services Inc. at 6.06 million tons Inferred grading 0.053 opt gold at a cutoff grade of 0.010 opt gold (assays capped at 0.500 opt gold) containing approximately 320,000 ozs gold, as reported on SEDAR on January 22, 2009.
Source: http://www.lincolnmining.com/