Red Eagle Mining Santa Rosa Operations Update
VANCOUVER, British Columbia, April 10, 2018 (GLOBE NEWSWIRE) -- Red Eagle Mining Corp. (TSX:R) (BVL:R) (OTCQX:RDEMF) is pleased to provide an update on operations at the Santa Rosa Gold Project, Antioquia, Colombia. The mill ran at 727 tonnes per day, processing 22,549 tonnes at 3.89 grams per tonne gold producing 2,651 ounces of gold in March.
San Ramon currently has 21 active attack ramps with 17 in production (which provided 44 active ore production faces in March) and the remaining attack ramps in breasting and backfill. Stope mining operations continued to ramp up with 614 tonnes per day mined in March. With the arrival of the final scoops in April and development currently underway, five new attack ramps are expected to be completed by the end of May to begin ore production in high-grade areas to the west, to the east and at depth from existing production areas. These additional production faces will allow mining rates to continue to increase to 1,000 tonnes per day as planned with gold production steadily increasing throughout the second quarter.
| Total | January | February | March | Total Q1 | |||||
| Ore Mined | (tonnes) | 12,497 | 17,092 | 19,027 | 48,616 | ||||
| Ore Processed | (tonnes) | 17,008 | 21,138 | 22,549 | 60,695 | ||||
| Processed Gold Grade | (g/t Au) | 2.12 | 3.19 | 3.89 | 3.15 | ||||
| Gold Produced | (ounces) | 1,100 | 1,974 | 2,651 | 5,725 | ||||
| Recovery | (%) | 95 | % | 91 | % | 94 | % | 93 | % |
| Average Per Day | |||||||||
| Ore Mined | (tonnes) | 417 | 610 | 614 | 540 | ||||
| Ore Processed | (tonnes) | 567 | 755 | 727 | 682 | ||||
About Red Eagle Mining
Red Eagle Mining is a gold producer focused on building shareholder value through acquiring, developing and operating gold and silver projects in Colombia, a jurisdiction with prolific historic production but until recently limited modern exploration. Red Eagle Mining owns 100% of the Santa Rosa Gold Project and controls Red Eagle Exploration which owns 100% of the Vetas Gold, California Gold and Santa Ana Silver Projects.
Additional Information
Patrick Balit
Vice President Corporate Development
+1 778 372 2558
balit@redeaglemining.com
www.redeaglemining.com
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although Red Eagle Mining believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements. This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
