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Mines CorporationThe Metropolitan Mines (MEMLA) property in Wallace, Idaho, consists of 800 acres of claims in the heart of Idaho's Silver Valley, immediately south of the primary workings of the Sunshine Mine and just west of the ConSil mine. While the workings of the original Metropolitan Mine are currently inaccessible, at depth our claims intersect mineralization that has been historically mined from the Sunshine.
In 2004, Metropolitan leased our properties to Sterling Mining Company (see news) which is working to re-open the Sunshine Mine. Sterling is currently undertaking a surface exploration project that includes our properties. A future drilling exploration project is planned to test the down-dip projection of the Yankee Girl vein as well as the Metropolitan North and South veins, three vein structures that intersect our claim groups.
Exploration History
Sunshine Mining Company explored the Metropolitan property from the 3100 level with the development of the Metropolitan cross-cut. A number of narrow quartz-siderite zones were encountered, but no commercial ore-shoots were intersected.
The Yankee Girl vein lies immediately to the north of the Metropolitan property and dips onto Metropolitan claims. Though Sunshine Mining Company mined the Yankee Girl from their property, issues regarding ownership of the Yankee Girl vein have prevented exploration of this structure onto Metropolitan property. The Yankee Girl vein is believed to host mineralization along 10,000 ft. of strike length.
News:
Sterling Mining Company Expands Exploration onto Metropolitan Mines Property
WALLACE, Idaho--Sept. 20, 2004--Sterling Mining Company announced today the expansion of its Sunshine surface exploration program onto the Metropolitan Mines property immediately south of Sterling's Sunshine Mine property in Idaho's Coeur d'Alene mining district.
The Metropolitan property, on the south limb of the Big Creek Anticline in south dipping rocks of the lower Wallace Formation, covers the Big Creek Fault Zone separating rocks of the Wallace and St. Regis Formations to the north and rocks of the Revett Formation to the south.
Ray De Motte, President stated: "We are extremely pleased at the on-going cooperation with Metropolitan Mines on our long-term exploration and development plans for the Metropolitan property, long a central part of the Sunshine Mine project."
The property covers numerous mine workings and prospects. The Metropolitan Mine (the most substantial mine on the property) developed on two mineralized structures: the North and South veins, characterized by zones (2-3 ft in width) of a quartz-siderite stringer with minor pyrite and tetrahedrite (a silver-bearing mineral).
At depth, the Metropolitan property has been explored by the Metropolitan cross-cut on the Sunshine 3100 level that intersected numerous narrow quartz-siderite zones that may relate to the north and south veins.
An additional mineralized structure trending onto the Metropolitan property, the Yankee Girl Vein system, was mined by Sunshine Mining Company. The Yankee Girl Vein is exposed at the surface immediately to the north of Metropolitan, which indicates that several mineralized structures exploited in the Sunshine Mine have significant vertical extents.
With three known mineralized structures, coupled with the discovery of several geophysical anomalies by the Sunshine phase 1 surface program, the Company notes there is excellent potential for additional structures to be identified.
Copyright 2006 Metropolitan Mines CorporationGeology
The original Metropolitan Mine is located on the south limb of the Big Creek Anticline, in the south dipping rocks of the lower Wallace Formation, and contained two vein systems named North and South (or 400 No. 4) veins.
The North vein is characterized by a very narrow quartz band, accompanied by a two foot zone of intensely sheared rock with loose, muddy gouge on either wall. The quartz carries pyrite, minor siderite and occasional tetrahedrite and chalcopyrite. The vein strikes east-west and dips at approximately 45-60 degrees, and It has been postulated that the north vein should intersect the quartzites of the Revett Formation around the 2700 foot level.
The South vein is composed of a zone a few inches to three feet in width, made up of stringers of quartz carrying siderite and pyrite. Some tetrahedrite is found in the included country rock and in the adjacent hanging wall. The South vein is projected to intersect with the Big Creek Fault at the 1900 foot level and may host potential ore zones in the Revett Formation.
We believe that the North and South veins have never been explored in the more favorable quartzite units and are pleased to work with Sterling Mining Company to uncover the full potential of the vein systems on Metropolitan Mines properties.
Agreement Summary
The 25-year lease with Sterling lease requires the payment of 200,000 shares to Sterling, and $12,000 annual advance royalty by Sterling to Metropolitan.
Metropolitan Mines Corporation
411 Coeur d'Alene Avenue, Suite 1-J
Coeur d'Alene, ID 83814
Tel: 208-556-0227
Fax: 208-676-1629
Officers and Directors:
Dale Lavigne, President, Director
Dennic O'Brien, Secretary, Director
H. James Magnussen, Director
Capital Structure: 5 million shares authorized, 4.9 million issued and outstanding.
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