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 TSX; FRA
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Company Statement
Franconia Minerals Corporation (TSX: FRA), an Alberta-formed corporation with its head office in Spokane, Washington, is focused on the discovery and development of base metal and platinum group metals (PGM) projects in the continental U.S.A.
The Company is also working with joint-venture partner Teck Cominco to advance base metals projects at the exploration stage, and is currently actively exploring for copper at its Red Knoll copper property in Arizona.
Corporate Vision
Franconia's Vision is benefit its shareholders by leveraging its extensive technical expertise, asset base and corporate proficiency to cooperatively develop significant platinum group metal and base metal projects in the continental U.S.
Corporate Strategy
In order to advance the Company's Corporate Vision, Franconia's Executive Management Team is committed to:
* Leveraging the individual and collective skills (geologic, geographic, political and other areas of special expertise) available to the Company in order to add value to the Company's most prospective projects;
* Evaluating and securing additional projects to which the Company can add further value;
* Identifying and working with suitable partners, such as current partner, Teck Cominco American Inc., to enhance the Company's capabilities and corporate reach;
Franconia's Vision is benefit its shareholders by leveraging its extensive technical expertise, asset base and corporate proficiency to cooperatively develop significant platinum group metal and base metal projects in the continental U.S.
Current Operations
BIRCH LAKE PROJECT
Prefeasibility work is currently focused on the development of the Birch Lake and the Maturi Resources. Exploration has revealed a 75-foot thick mineralized zone at the Birch Lake Resource that occurs approximately 1,800 feet beneath the surface and three miles northwest at the Maturi property, another 75-foot thick, dipping mineralized zone that extends form 175 feet to 2000 feet beneath the surface.
The current pre-feasibility studies are aimed at evaluating the viability of separate mines at Birch Lake and Maturi that would feed a single processing complex built near the Birch Lake deposit.
While neither Birch Lake nor Maturi has been fully drilled out, the combined resource currently has the potential to generate annual production of 74 million pounds (lbs) copper, 19 million lbs nickel, 2.9 million lbs cobalt, 7,400 ounces (oz) gold, 33,000 oz platinum and 68,000 oz palladium over a mine life of about 25 years. More than 500 jobs would be created over the life of the operation.
Red Knoll Copper Project, Arizona
In May 2007, Franconia confirmed that the property hosts widespread potential host rocks for porphyry copper mineralization at a reasonable depth. The four-month drilling program tested for concealed porphyry-style copper mineralization buried beneath post-mineral volcanic cover, as well as for the depth of the potential Laramide-age metavolcanics. Three holes (RK-4, -5 and -6) totaling 6,862 feet were completed, investigating three of four IP anomalies generated by an earlier four-line, 17 line kilometre Titan 24 geophysical survey. While ore-grade mineralization has not yet been encountered, all three drill holes intercepted host rocks with the potential for porphyry copper mineralization at depths ranging from 979 to 1,782 feet.
One hole (RK-4), which tested an IP anomaly on the west end of Line 2, intercepted Laramide metavolcanics displaying strong to intense phyllic alteration with subordinate propylitic to phyllic transitional alteration. This alteration was accompanied by 1-3% pyrite starting at 1,616 feet (locally 4-6%) with anomalous copper values. Analytical results received to date indicate anomalous copper values from 979 to 2456 feet. The alteration and mineralization observed in RK-4 may indicate proximity to a porphyry copper system. The Company believes these results warrant additional geophysical examination as well as further drilling in the area, particularly to the east. In addition, based on depths-to-Laramide, a number of other geological targets have been identified that merit testing.
Geographical Spread
USA. Franconia will consider projects on a worldwide basis.
Board of Directors and Key Management
| Brian Gavin, President | CEO and Director |
| George D. Tikkanen | Chairman |
| Bonnie L. Kuhn | Vice-President, Corporate Secretary and Director |
| Chad Houck | CFO |
| Ernest K. Lehmann | Director |
| Lewis Lawrick | Director |
| Allan J. Marter | Director |
| James S. Friedlander | Director |
| Robert Galyen | Project Geologist |
Company Address111 E. Magnesium Road
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Additional Address/Key ContactInvestor Relations (Canada): |
CapitalShares issued and outstanding; 59 million
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Annual General MeetingJune | Year EndDecember 31 |
Major Shareholders
| Management | 15% |
| Starvest PLC (AIM) | 8% |
| Tiger Resource Finance (AIM) | 2% |
| Sentry Select | 5% |
| J. Perrone | 10% |
| Others | 65% |
Related News
20/05/09 - Franconia Finds Waiting the Hardest Part.03/09/08 - Capital Costs Are Key for Franconia Minerals As It Follows In The Footsteps Of PolyMet Mining Towards Production
29/01/08 - Franconia Minerals Expects Good Newsflow From the Duluth Complex This Year
Most Recent Statement
10/02/09 - Final 2008 McPhillamys results extend mineralisation depth09/02/09 - Franconia Minerals Summarizes Results Following Drilling & Bulk Sample Collection at its Birch Lake Copper-Nickel-PGM Project
16/01/09 - Franconia Minerals Receives Final Loan and Grant Payments From the State of Minnesota for Birch Lake
25/08/08 - Franconia Files Technical Report Supporting Latest Ni 43-101 Resource Estimate On Birch Lake Copper-Nickel-Pgm Resource
09/07/08 - Franconia Doubles NI 43-101 Resource Estimate On Birch Lake Copper-Nickel-PGM Resource
19/06/08 - Franconia Minerals Earns 60% Interest In Birch Lake Project