Lincoln Minerals in milestone pegs proposed mine at Barns iron ore deposit

Lincoln Minerals has reached a milestone at thmolinos de bolas para minereiae Gum Flat Project, by pegging and lodging a Mineral Claim for a proposed mine at the company's Barns iron ore deposit.

At Barnes, a drilling program was recently wrapped up which included geotechnical drill holes to aid in mine design, along with large diameter cored holes to further test the hematite-goethite metallurgy of direct shipping ore. The program also included infill drilling within the immediately adjacent magnetite resource as the company looks to boost the resource to the higher confidence category of Indicated. Core from selected iron-rich intervals will now be cut and assayed. Importantly for future cash flows - Lincoln Minerals is finalising a Mining Lease Proposal for submission to the State Government to commence mining direct shipping iron ore from Barns in mid to late 2012, subject to finance and all approvals. Gum Flat is located...