Carson City, NV – After six years, Franklin Mining CEO William Petty (OTC Pink: FMNJ) has returned to Bolivia to push forward with development of several gold mining areas. Mr. Petty and Franklin’s Vice President of Operations in Bolivia, Fernando Freudenthal, signed a Letter of Intent with the Bolivia Progressa Coopertiva, represented by José Ontiveros Gonzales. This contract will allow for further development of the Puqio Norte mine, now known as “DHARMA”.
The mine comes with a great history of production, including a large tailings pond with geomembrane, containing up to 10 million tons of material, which would be studied at the same time that the colluvial site would be developed. During this phase, studies would be conducted on the primary hard rock vein structures in the area. Mr. Petty has agreed to advance the cost of verifying the studies done on the colluvial deposits present at the mine, as identified by the geologists’ initial visit, and to begin working to reduce the environmental impact of mining the area.
COMSUR, a Bolivian company with several mining operations, was the first company to discover, develop, and exploit a mineral deposit in the Precambrian region on an industrial scale. Thus, the company has become a great source of information on the area surrounding the DHARMA mine. COMSUR previously established environmentally-friendly mining principles such as zero discharge, which means that effluents are not discharged from the production process. Ore is crushed, milled and put in solution, then circulated from water tanks to the processing plant and back. After separating solids from liquids, the water from the dam is recycled back into the plant. Franklin Mining plans to continue implementing processes such as these which will help protect the fragile ecosystem in the area.
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