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Vancouver, British Columbia, March 06, 2012 — Elgin Mining Inc. (“Elgin Mining” or the “Company”) (TSX-V: ELG) is pleased to announce the second set of drill results from seven (7) holes in the shallow upper portion of the West Zone South of Shaft (“WZSOS”) zone at its wholly-owned Lupin Mine in Nunavut, Canada.
The WZSOS zone was drilled by previous owners of the property but was never targeted for continuous mining operations. Elgin Mining’s recent ongoing drilling has targeted gaps in previous drilling above the existing known mineralized body, in an effort to establish continuity to surface. This shallow zone could become the basis of feed for potential restart of operations due to proximity to the existing ramp, which would allow for haulage to the surface facilities and delay the capital cost of rehabilitation of the shaft and infrastructure.We are very pleased to report that this second set of holes all intercepted this upper shallow zone and along with the first set of results (see NR 2012-03 dated February 22, 2012) indicate that the zone is continuous toward the shaft and underground infrastructure. Highlights of these recent results area as follows:
Highlights include (see Table 1 and Map 1):
• – Hole L12010, which returned 5.33 metres of 9.56 g/t Au;
• Hole L12011, which returned 4.41 metres of 9.50 g/t Au;
• Hole L12013 which returned 2.52 metres of 6.08 g/t Au;
• Hole L12014, which returned 8.90 metres of 5.89 g/t Au; and
• Hole L12016, which returned 2.08 metres of 12.23 g/t Au.
Mr. Patrick Downey, President and CEO stated, “We are extremely pleased with these most recent results. Coupled with the first set of results it is apparent that this zone extends to surface in a similar fashion to the other mineralized zones at the Lupin Mine and has significant strike extent. The grades and thicknesses have also improved as the drilling moves towards the shaft and ramp and this is consistent with the West Zone which was a significant part of the historical production. As previously stated, we now plan to proceed underground at approximately the 200 metre level to develop access, and to perform closer-spaced drilling for mine planning purposes above and below this level, as part of our expedited plan for re-start of operations. We are also in the process of completing a NI 43-101 compliant Technical Report that includes a mineral resource estimate for the WZSOS Zone, but will not include the results from this upper shallow zone.”
View full press release Elgin Mining Releases Second Set Of Drill Results at the Lupin Mine
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