Franconia Minerals Corp.

Published : January 14th, 2008

Reports "No Change in Water Quality" from Birch Lake Copper-Nickel-PGM Project Dr

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
Keywords :   Copper | Nickel | Palladium | Platinum | Water |
Franconia Minerals Corp.
News Release

Monday, January 14, 2008

Franconia Minerals Reports "No Change in Water Quality"
from Birch Lake Copper-Nickel-PGM Project Drilling

January 14, 2008 Spokane, Washington: Franconia Minerals Corporation (TSX:FRA) announced today that independent testing by the Minnesota Department of Natural Resources ("DNR") Division of Lands and Minerals has found "no change in water quality in Birch Lake as a result of the (Company's) drilling program." Franconia is aggressively expanding and advancing development of its resources at the Birch Lake copper-nickel-PGM (platinum group metals) project in the Duluth Complex, work that has included six exploration drill holes from a barge on Birch Lake in the second half of 2007.

"We are extremely pleased that the DNR has confirmed the effectiveness of our program and processes to protect the environment," said Brian Gavin, Franconia President and CEO. "The entire Franconia organization - from the Board to the members of our drill team - is dedicated to this goal and we will continue our diligence. We also welcome the help and support we are receiving from the Minnesota government and the community in our efforts to advance this world-class project with as little environmental impact as possible."

Birch Lake, a generally less than 25-foot deep body of water located about seven miles east of Babbitt, MN, is a feature on Franconia's Birch Lake property. In order to minimize contamination risks, the Company took numerous steps including the use of casing through water and lake bottom sediments well into bed rock to insure that no drill cuttings or return water entered the lake, using absorbent mats under motors and fuel handling areas, attaching protective skirts and floating containment booms around the barge, as well as cementing all holes on completion.

The DNR conducted water sampling during the drilling of all six holes to determine if there were any changes in water quality associated with the exploration drilling. According to their report, "All results for pH, specific conductance, and turbidity met water quality guidelines. Suspended solids and dissolved oxygen results were in the expected range." The report noted that while three of the total 70 samples "slightly exceeded the water quality level of concerns for Total Phosphorous," all three were found upstream and so were "not likely the result of drilling activity."

The full report will be available shortly on Franconia's website:

Birch Lake is part of the Franconia's Birch Lake Project, which covers the largest land position held by any publicly-traded company in the Duluth Complex, where three independent NI 43-101 studies have combined Franconia's estimated total inferred resources at 307 million tonnes. The Duluth Complex is believed to contain the third largest unexploited copper-nickel-platinum group metals resources in the world, after Sudbury and Nor'ilsk.

The Birch Lake deposit contains an inferred resource of 100.4 million tonnes grading 0.59% Copper (Cu), 0.19% Nickel (Ni), 0.65 g/t palladium (Pd) and 0.32 g/t Platinum (Pt.) This latest drill program is aimed at converting the current inferred resource to an indicated* resource and providing samples for bench-scale and pilot plant-scale metallurgical testing, planned for 2008. This inferred resource at Birch Lake is in addition to Franconia's nearby 83 million tonne copper-nickel-PGM inferred resource grading 0.70% Cu, 0.26% Ni, 0.25 g/t Pd and 0.09g/t Pt. at Maturi and its nearby underground Inferred Resource at Spruce Road of 124.4 million tonnes grading 0.59% Cu and 0.21% Ni (no assays were conducted to measure Pd or PT at Spruce Road), bringing the total underground resource at Franconia's Birch Lake Project to 307.9 million tonnes at an average grade of 0.62% Cu and 0.22% Ni. Birch Lake, Maturi and Spruce Road are the subjects of independent reports prepared by Scott Wilson Roscoe Postle Associates (Scott Wilson RPA) to NI 43-101 standards (available at and

(*An indicated mineral resource is a portion of a mineral resource for which quantity, grade, and other characteristics can be estimated with a level of confidence sufficient to support mine planning and additional economic evaluation of the project. The Birch Lake deposit is currently classified as an inferred resource, which is that part of a mineral resource for which certain characteristics can be estimated based on geological evidence and limited sampling and which can be reasonably assumed to have a consistent grade of mineralization.)

The Duluth Complex, a geologic formation located in northeastern Minnesota, extends for 240 kilometers trending from northeast to southwest and hosts a number of copper-nickel-PGM deposits. Collectively these deposits are believed to be one of the largest unexploited resources of these scarce minerals in the world.

Franconia Minerals Corporation trades on the TSX under the symbol FRA. (For additional information see Franconia currently has 58,186,566 shares issued and outstanding.

Brian Gavin,
President and CEO

For more information:

In the US: Douglas Sherk: 415 896 6820

In Toronto: Greg Taylor: 905 337 7673

In Vancouver: Farah Alibhai: 604 731 7340

FORWARD-LOOKING STATEMENT: Although Franconia Minerals Corporation believes many of its properties have promising potential. These properties are in the early stages of exploration. None have yet been shown to contain proven or probable mineral reserves. There can be no assurance that such reserves will be identified on any property, or that, if identified, any mineralization may be economic

Franconia Minerals Corp.

Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
Projects & res.
Asset profile
Contact Cpy

Franconia Min. is a exploration company based in United states of america.

Franconia Min. is listed in Canada and in United States of America. Its market capitalisation is CA$ 75.6 millions as of today (US$ 77.9 millions, € 56.1 millions).

Its stock quote reached its highest recent level on February 01, 2008 at CA$ 1.95, and its lowest recent point on March 06, 2009 at CA$ 0.10.

Franconia Min. has 86 954 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
In the News and Medias of Franconia Minerals Corp.
7/5/2008Duluth Complex: A World-Class Value Play
Annual reports of Franconia Minerals Corp.
2006 Annual report
2007 Annual report
Project news of Franconia Minerals Corp.
5/12/2010(Birch Lake)Intercepts 124 Feet Of 0.67% Copper And 0.17% Nickel At Dulu...
5/4/2010(Birch Lake)Increases Ownership at Birch Lake to 70%
3/25/2010(Birch Lake)Options Land Parcels For Birch Lake
3/3/2010(Birch Lake)Begins New Drill Program At Its Birch Lake Project, Duluth ...
9/23/2009Announces 21% Increase In NI 43-101 Indicated Resource At Bi...
2/9/2009(Birch Lake)Summarizes Results Following Drilling & Bulk Sample Collecti...
1/15/2009(Birch Lake)Receives Final Loan And Grant Payments From The State Of Min...
8/25/2008(Birch Lake)Files Technical Report Supporting Latest Ni 43-101 Resource ...
7/9/2008(Birch Lake)Franconia Doubles NI 43-101 Resource Estimate On Birch Lake ...
6/20/2008(Birch Lake)Earns 60% Interest In Birch Lake Project
6/2/2008(Birch Lake)Second Drill Turning at Birch Lake
3/26/2008(Red Knoll)Launches New Drill Program at Red Knoll Copper Project, Ariz...
1/16/2008(Birch Lake) Intersects "Longest & Strongest" Mineralization To Date At ...
1/14/2008(Birch Lake)Reports "No Change in Water Quality" from Birch Lake Copper-...
Corporate news of Franconia Minerals Corp.
3/3/2011Shareholders Approve Arrangement With Duluth Metals
2/22/2011Announces that Institutional Shareholder Services and Glass ...
3/25/2008Adopts Shareholder Rights Plan
3/25/2008 Adopts Shareholder Rights Plan
3/24/2008 To Present At John Tumazos Very Independent Research, LLC M...
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Last quotes and information before delisting
Prev close Open
0.880 0.880
Low High
0.870 0.870
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.870 -4.40%
Volume 1 month var.
19,775 -4.40%
Explores for
Interactive chart Add to compare
Print Compare Export
Last updated on : 1/23/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
Annual variation
5 years chart
3 months chart
3 months volume chart
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
announces expected non-cash impairment
AU$ 6.93-1.00%Trend Power :
Oceana Gold(Au)OGC.AX
AU$ 2.58+7.05%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
US$ 3.49-1.41%Trend Power :
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
Reduced Funding Requirement
GBX 0.59+1.74%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.02-25.00%Trend Power :
Closes Bridge Loan Financing
CA$ 2.79-0.36%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 6.85+0.44%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.30+1.72%Trend Power :
Q A April 2017 Quarterly Report
AU$ 0.26+3.92%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 2.11+0.48%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 56.65+3.96%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
2nd Quarter Report
AU$ 0.03+0.00%Trend Power :