Red Eagle Mining (RD.V) Commences Preliminary Economic Assessment and Environmental Baseline Study at Santa Rosa
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 11, 2012) -Red Eagle Mining Corporation (TSX VENTURE:RD)(OTCQX:RDEMF) is pleased to announce that Mine Development Associates has commenced working on a NI 43-101 compliant resource estimate to be followed by a Preliminary Economic Assessment for the San Ramon gold system, Santa Rosa project, Colombia. The NI 43-101 compliant Technical Report supporting disclosure of the resource estimate is planned for release by the end of 2012, while the Preliminary Economic Assessment is planned for release in the first quarter of 2013.
Red Eagle Mining is also pleased to announce that an Environmental Baseline Study commenced this summer in preparation for the completion of an Environmental Impact Assessment and the permitting process for its planned mining operations at San Ramon. The Baseline Study was awarded to the two Colombian universities which had the most extensive relevant experience - the Universidad de Antioquia and the Universidad Catolica de Santa Rosa. The Baseline Study will continue over the coming twelve months.
The Universidad de Antioquia is a public university located in Medellin, only 70km away. Founded in 1803, it is Colombia's oldest public university and the second largest and most prestigious of Colombia's universities. Research is one of the principal specialties of the University of Antioquia and the considerable natural and social diversity of the region has allowed the university to develop deep expertise in environmental studies and the social sciences. It is recognized as one of the three best Colombian research Universities and has the highest percentage of excellence in research groups according to the National Board of Science and Technology (Colciencias). The Universidad de Antioquia was awarded the air quality, noise, hydrology and water quality modules.
The Universidad Catolica de Santa Rosa is operated by the Diocese of Santa Rosa de Osos, only 15km away. The university has a strong network and knowledge of the community, farmers and industry throughout the region. The university also has a very close relationship with the Mayoralty, City Council and the Community Action Board, which are directly involved in the land use plan of the Santa Rosa region. Universidad Catolica de Santa Rosa was awarded the fauna and flora, geotechnical, soil, landscape, community, public health and leadership modules.
"We are very pleased to be able to take San Ramon to the next stage of development in an orderly timely process," comments Ian Slater, Chief Executive Officer. "Partnering with local universities and utilising their high quality professionalism and experience will enable Red Eagle to develop San Ramon in an environmentally responsible manner acceptable to all stakeholders."
The San Ramon structure trends east-west, dips 60° - 70° to the north, extends over 1,800m, is up to 60m wide and is mineralised from surface. Phase One and Two drilling intercepts in the primary (unoxidised) mineralisation averaged 2.1 g/t Au (0.20 g/t Au cut off, uncut) to a vertical depth of over 250m. The mineralisation is open at depth. The Phase Three 5,000m core drill programme is delineating the oxide mineralisation on 50m centres from surface to approximately 50m depth. 48 holes totaling 3,331m have been completed to date. Assays are pending on 37 holes (SR-077 to SR-113).
The scientific and technical information contained in this news release has been reviewed and approved by Michael Johnson P.Geo., who is a "Qualified Person" as defined under National Instrument 43-101.
Red Eagle Mining (RD.V) Commences Environmental Impact Assessment and Augments Mine Development Team
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 16, 2013) -Red Eagle Mining Corporation (TSX VENTURE:RD)(OTCQX:RDEMF) is pleased to announce that Conestoga-Rovers & Associates (CRA) have commenced a NI 43-101 compliant Environmental Impact Assessment (EIA) and Kappes Cassiday and Associates (KCA) have commenced a Detailed Metallurgical Testwork and Process Design Program for the San Ramon deposit, Santa Rosa gold project, Colombia. In order to manage the transition to development Red Eagle Mining is also very pleased to announce the appointment of Alan Baker - Project Director, Jeff Toohey - Vice President Exploration and Bob Bell - Chief Operating Officer.
CRA is an internationally recognized environmental consulting group which employs 3,000 people in over 90 offices - principally in the Americas. The EIA will rely on the Environmental Baseline Study being conducted by the Universidad de Antioquia and the Fundacion Universitaria Catolica del Norte (news release dated September 11, 2012) of which the first stage was completed in December 2012.
KCA are a world-class process metallurgical consulting group with extensive laboratory facilities specializing in gold extraction technology in Reno, Nevada. The testwork program will evaluate the possible process options for the San Ramon ore, including heap leaching, carbon-in-pulp (CIP), carbon-in-leach (CIL), and floatation concentration processing. Additionally, tailings disposal options will be evaluated. As this testwork program progresses, results will be incorporated into the Preliminary Economic Assessment (PEA) being prepared by Mine Development Associates (MDA) (news release dated September 11, 2012).
"We are very pleased to be able to continue taking the San Ramon deposit towards our goal of development in a timely process," comments Ian Slater, Chief Executive Officer. "We are also delighted with the addition of both Alan Baker and Jeff Toohey and their wealth of responsible mine development experience."
Mr. Baker has over 35 years of experience in design and construction of gold projects including surface and underground mining and process plants. Earlier in his career Mr. Baker was Senior Manager - Projects for AngloGold Ashanti in Ghana. Mr. Baker joins Red Eagle Mining from Eldorado Gold Corp. Mr. Baker is responsible for the design, permitting and construction of Red Eagle Mining's San Ramon gold deposit and is based in Medellin, Colombia.
Mr. Toohey has over 38 years of experience in mineral exploration and development in South America. Mr. Toohey was a Senior Geologist for twelve years with Teck Resources Limited in Chile, Argentina and Peru. Most recently Mr. Toohey was Vice President Exploration for Peregrine Metals Ltd which was purchased by the Stillwater Mining Company in 2011. Mr. Toohey was responsible for the acquisition, exploration, drilling delineation and PEA of Stillwater's flagship Altar copper and gold project in Argentina. Mr. Toohey replaces Mr. Mike Johnson as Vice President Exploration. The board would like to thank Mr. Johnson for his service and wish him well in his future endeavours.
Mr. Bell, a founding director of Red Eagle Mining, has been appointed Chief Operating Officer. Mr. Bell has worked internationally in the mining industry for over 40 years. Mr. Bell was a founding partner of Minproc Engineers' Mining Division and responsible for a large number of feasibility studies and mine construction projects. Prior to co-founding Red Eagle Mining, Mr. Bell was General Manager of the Chelopech Mine in Bulgaria. Mr. Bell is a graduate Mining Engineer from the Western Australian School of Mines.
The San Ramon structure trends east-west, dips 60°-70° to the north, extends over 1,800m, is up to 60m wide and is mineralised from surface. 23,000m have been drilled to date to a vertical depth of approximately 250m with mineralisation remaining open at depth. Anticipated news flow over the coming months will include: •Initial NI 43-101 resource estimate (January 2013); •Results from the current 17,000 metre Phase Four drill programme (Q1 2013); •Updated NI 43-101 resource estimate (Q2 2013); •Preliminary Economic Assessment (Q2 2013); •Environmental Impact Assessment (Q2 2013); and •Feasibility and permitting (Q1 2014).
The scientific and technical information contained in this news release has been reviewed and approved by Jeff Toohey P.Geo., who is a "Qualified Person" as defined under National Instrument 43-101.
About Red Eagle Mining
Red Eagle Mining Corporation is a well-financed gold exploration and development company with an experienced mine development team. Red Eagle Mining is currently developing the 390 km² Santa Rosa gold project located in Colombia. Santa Rosa is an intrusive hosted structurally-controlled quartz stockwork system within the prolific Antioquia Batholith. Gold mining within the Santa Rosa project pre-dates the 16th century when an estimated 30 million tonnes were mined. Santa Rosa is located 70km north of Medellin near the town of Santa Rosa de Osos in a region characterized by gently rolling hills and excellent infrastructure. Santa Rosa is also located approximately 30km west of AngloGold Ashanti's Gramalote gold deposit (2.5 million ounce M&I resource grading 0.8 g/t Au) and 40km east of Continental Gold's Buritica gold deposit (1.6 million ounce M&I resource grading 13.6 g/t Au). Red Eagle Mining also holds an extensive package of exploration ground in Colombia, including the Pavo Real project.