VANCOUVER, BC / ACCESSWIRE / December 23, 2021 / Lincoln Gold Mining Inc. (“Lincoln” or the “Company”) (TSXV: LMG) provides an activity update and permit progress reports at the Pine Grove gold project in Nevada.
Studies and application for an environmental permit:
Lincoln has acquired an insurance provider to handle the bonding process required in the event of a reclamation disruption on U.S. Forest Service lands. The initial link will be associated with drilling water wells, damming waste rock and processing areas, geotechnical test wells and drilling in the proposed plant and heap leach areas, and then later with the complete disruption of the heap extraction and leaching process. Water well drilling is the last major work on the site that needs to be done for the overall Environmental Impact Assessment (“EIA”) report which is essential to move the project forward to production.
Anthropology, archeology and community:
Over the past six months, Lincoln consultants have been studying the anthropological, archaeological and community impacts of the Pine Grove Gold Project and their fieldwork is now complete. Fieldwork reports will be included in the EIA report. Community relations are an ongoing process throughout the life of the mine and beyond. Lincoln strongly believes in the importance of community involvement in the project from start to finish and the wise use of the land for all groups who use this area for mining, ranching and recreation. .
Recent drilling activities:
Lincoln has just completed its core drilling activities on the Wilson claims. A total of 5 holes were drilled for a total of 1,114 feet. The two currently known resource areas (Wheeler and Wilson) are shallow with low stripping ratios averaging 2.3: 1 between waste and ore. This allows for shallow drilling of 300 feet or less. Most of the drilling on the property in the past has been done by reverse circulation drilling. The coring work will give Lincoln additional information on the rock structure and other lithographic details. The five core holes that have been drilled on the Wilson deposit will be very useful in determining the alteration and structural controls of gold mineralization vital for future exploration for resource expansion. The three holes that were drilled adjacent to the existing RC holes will provide insight into the structure, weathering and style of gold mineralization, including quartz-sulfide veins with associated traces of copper in mineralized zones. known, as seen in RC drilling.
Activities planned for early 2022:
Water well drilling is expected to begin later in January and will continue for a few weeks. The ongoing community consultation will continue with local groups affected by the project. Core from the recent drilling will be photographed, cut and sampled in January at Lincoln’s warehouse in Yerington. The samples will then be submitted to ALS Minerals for gold and copper analysis. Sample preparation and analytical methods will use the same methodology and quality control procedures as all previous drill samples. Most importantly, in the first 3-4 months of 2022, the project’s lead consultant, Reno’s Stantec Inc., will take on the primary task of compiling all studies and reports. This work will culminate in the production of the final EIA report. It is expected that it will take 3-4 months for the report to be released in the first part of the second quarter of 2022.
Mr. Paul Saxton, President and Chief Executive Officer of the Company, is considered a “qualified person” under National Instrument 43-101, and has reviewed and approved the scientific and technical information contained in this press release.
About Lincoln Gold Mining Inc.
Lincoln Gold Mining Inc. is an advanced stage gold exploration and development company with a 100% interest in the Pine Grove gold project, in the Walker Lane structural area, western Canada. Nevada. The Company has prepared a preliminary economic assessment of the Pine Grove gold project in accordance with National Instrument 43-101 – Disclosure standards for mining projects. Lincoln is working with the United States Forest Service to obtain the necessary permits to develop the property into a low cost open pit heap leach operation, including a high grade gravity circuit.
Lincoln continues to develop exploration plans for the newly acquired Shawinigan property in Quebec in order to assess copper, nickel and cobalt opportunities on the site. The Company recently extended the exploration area to approximately 50 square kilometers.
Lincoln also owns a joint venture interest in the Oro Cruz gold property in California. Lincoln’s joint venture partner is advancing the Oro Cruz gold property towards further exploration, development and production.
Lincoln holds its interests in the US projects through its wholly owned subsidiaries, Lincoln Resource Group Corp. and Lincoln Gold US Corporation, both Nevada companies.
For more information, please contact Paul Saxton, President and CEO of the Company.
On behalf of Lincoln Gold Mining Inc.
President and CEO, Lincoln Gold Mining Inc.
Phone. : (604) 688-7377
CAUTION REGARDING FORWARD-LOOKING INFORMATION
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.
All statements, trend analyzes and other information contained in this market-related press release concerning anticipated future events or results constitute forward-looking statements. All statements, other than statements of historical fact, included herein, including, without limitation, statements relating to the licensing process, future production of the Pine Grove Gold Project, budget and schedule estimates , the Company’s working capital and financing opportunities and statements regarding the exploration and mineralization potential of the Company’s properties are forward-looking statements. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in forward-looking statements. Significant factors that could cause actual results to differ materially from Lincoln’s expectations include fluctuations in commodity prices and currency exchange rates; uncertainties relating to the interpretation of drilling results and to the geology, continuity and grade of mineral deposits; the need for cooperation from government agencies and Aboriginal groups in the exploration and development of properties and the issuance of required permits; the need to secure additional financing to develop properties and the uncertainty over the availability and terms of future financing; the possibility of delays in exploration or development programs and uncertainty about meeting planned program milestones; and uncertainty about the timely availability of permits and other government approvals. Forward-looking statements are based on estimates and opinions of management as of the date the statements are made. Lincoln assumes no obligation to update any forward-looking statements, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
THE SOURCE: Lincoln Gold Mine Inc.
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