Metalline Mining Enters Joint Venture

Fri., Dec. 6, 1996

From Staff And Wire Reports

Spokane-based Metalline Mining Co. signed an agreement Thursday with Denver-based USMX Inc. to develop silver mines in Mexico.

Metalline, a small exploration company, can earn a 65 percent interest in properties in the Sierra Mojada district of Coahuila, Mexico, by spending $2 million over the next seven years.

Metalline bought two large concessions from USMX nearby along with two other exploration areas to the northwest.

Along with the joint venture agreement, Metalline also purchased the concession Esmeralda I and the La Fortuna mine. Metalline believes the area contains substantial reserves of lead-silver and copper-silver ore, and has been a productive mining district in the past that hasn’t received much attention since the 1930s.

Metalline became interested in the project and purchases after a recent extensive survey of the area showed large areas of mineralization with grades of minerals suitable to be mined.

, DataTimes

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Metalline Mining Enters Joint Venture

Jesse Tinsley

Jim Meehan

Molly Quinn

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