1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Red Eagle Mining (RD.V) Commences 17,000 Metre Phase Four Drill Programme at Santa Ro

Discussion in 'Stock Market News & Analysis' started by mickymoose99, Nov 6, 2012.

  1. mickymoose99

    mickymoose99 Member

    Joined:
    Nov 24, 2009
    Messages:
    310
    Likes Received:
    0
    Occupation:
    Investor
    Location:
    Red Bank N.J
    Red Eagle Mining (RD.V) Commences 17,000 Metre Phase Four Drill Programme at Santa Rosa



    VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 6, 2012) -Red Eagle Mining Corporation (TSX VENTURE:RD)(OTCQX:RDEMF) is pleased to announce that an additional 17,000 metre core drill programme, utilising three rigs, recently commenced at the San Ramon gold system, Santa Rosa project located in Colombia. This Phase Four programme will complete infill drilling to 50 metre centres and test the high grade gold system, below the 250 vertical metres from surface currently drilled, to depths of plus 500 metres over the entire 1,800 metre strike length. This phase will also specifically target extensions to the high grade intercepts reported to date:
    •SR-042 - 6.0 metres at 31.85 g/t Au from 172 metres vertical depth
    •SR-045 - 1.5 metres at 28.26 g/t Au from 144 metres vertical depth and 1.9 metres at 14.36 g/t Au from 168 metres vertical depth (collared approximately 100 metres west of SR-042)
    •SR-053 - 7.0 metres at 41.53 g/t Au from 197 metres vertical depth (collared approximately 200 metres west of SR-045)
    •SR-060 - 2.0 metres at 30.73 g/t Au from 143 metres vertical depth and 3.5 metres at 29.29 g/t Au from 151 metres vertical depth (collared approximately 180 metres west of SR-053)

    "With our recent $20 million financing completed we are looking forward to drill testing the gold system down dip, where typically higher grades have been intercepted," comments Ian Slater, Chief Executive Officer. "We are also currently completing a resource estimate and PEA on the results to date and commencing permitting."

    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 drill intercepts from 18,000m averaged 2.1 g/t Au (using a 0.20 g/t Au lower cut and no upper cut) to a vertical depth of approximately 250m with mineralisation remaining open at depth. News flow over the coming months includes:
    •Remaining assays (21 holes, SR-119 to SR-139) from the Phase Three shallow drill programme (to be released November 2012);
    •Results from the current 17,000 metre Phase Four drill programme;
    •NI 43-101 resource estimate (to be released December 2012); and
    •Preliminary Economic Assessment (to be released Q1 2013).

    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.

    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 Cretaceous 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 in the Mid-Cauca gold belt.
     
  2. mickymoose99

    mickymoose99 Member

    Joined:
    Nov 24, 2009
    Messages:
    310
    Likes Received:
    0
    Occupation:
    Investor
    Location:
    Red Bank N.J
    Red Eagle Mining (RD.V) Intercepts 7.5 Metres at 4.24 Grams Gold Per Tonne in Oxides

    Red Eagle Mining (RD.V) Intercepts 7.5 Metres at 4.24 Grams Gold Per Tonne in Oxides at Santa Rosa



    VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 14, 2012) -Red Eagle Mining Corporation (TSX VENTURE:RD)(OTCQX:RDEMF) is pleased to announce the complete assay results from the Phase Three drill programme, which targeted the shallower oxide mineralisation at the San Ramon gold system, Santa Rosa project located in Colombia. 90% of drill holes in the Phase Three drill programme intercepted significant gold mineralisation. Highlights from the final 21 drill holes (SR-119 to SR-139) include intercepts:
    •SR-120 - 15.4 metres at 1.67 g/t Au from 17.0 metres down hole
    •SR-133 - 7.5 metres at 4.24 g/t Au from 45.6 metres down hole
    •SR-135 - 4.7 metres at 3.12 g/t Au from 72.1 metres down hole

    "Our completed Phase Three delineation drilling confirms strong gold mineralisation from surface in the oxidised material at San Ramon," comments Ian Slater, Chief Executive Officer. "With our recent $20 million financing completed we have now commenced drill testing the gold system down dip, where typically higher grades have been intercepted. Three rigs are turning with a fourth being mobilized."

    Highlights from the previously released 53 holes (SR-066 to SR-118) from the Phase Three drill programme include intercepts:
    •SR-068 - 11.6 metres at 2.74 g/t Au from 46.4 metres down hole
    •SR-069 - 11.7 metres at 4.96 g/t Au from 68.4 metres down hole
    •SR-071 - 29.2 metres at 0.80 g/t Au from 37.6 metres down hole
    •SR-072 - 47.4 metres at 1.34 g/t Au from surface
    •SR-073 - 16.0 metres at 1.71 g/t Au from 35.8 metres down hole
    •SR-076 - 35.0 metres at 0.58 g/t Au from 5.2 metres down hole
    •SR-080 - 38.5 metres at 0.51 g/t Au from 6.2 metres down hole
    •SR-083 - 2.6 metres at 18.01 g/t Au from 69.0 metres down hole
    •SR-093 - 5.7 metres at 3.78 g/t Au from 2.6 metres down hole
    •SR-097 - 6.9 metres at 3.09 g/t Au from 13.7 metres down hole
    •SR-108 - 3.4 metres at 8.75 g/t Au from 15.5 metres down hole
    •SR-109 - 19.6 metres at 2.32 g/t Au from 9.7 metres down hole
    •SR-110 - 28.4 metres at 1.96 g/t Au from surface
    •SR-111 - 22.1 metres at 2.17 g/t Au from 13.2 metres down hole
    •SR-112 - 23.7 metres at 2.09 g/t Au from 10.0 metres down hole
    •SR-113 - 18.3 metres at 1.31 g/t Au from 19.0 metres down hole

    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 drill intercepts from 18,000m averaged 2.1 g/t Au (using a 0.20 g/t Au lower cut and no upper cut) to a vertical depth of approximately 250m with mineralisation remaining open at depth. News flow over the coming months includes:
    •Results from the current 17,000 metre Phase Four drill programme;
    •NI 43-101 resource estimate (to be released December 2012); and
    •Preliminary Economic Assessment (to be released Q1 2013).

    Table 1 summarizes the significant (+0.20 g/t) uncut gold intercepts from Phase Three core drill holes SR-066 to SR-139 (see Figure 1 - Drill Hole Plan and Figure 2 - Long Section). Holes SR-066 to SR-118 have been previously released. True widths are estimated to be 70-90% of the intercepts and vertical depths are estimated to be 70-90% of the drilled depths reported below. Internal dilution within intercepts is limited to the inclusion of runs of no more than 6m below cut-off. Holes SR-66, 106, 107, 114, 115 and 125-127 did not intercept economic mineralisation. For pictures of the drill core see Red Eagle's photostream on flickr.

    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 Cretaceous 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 in the Mid-Cauca gold belt.
     
  3. SmartStocks

    SmartStocks New Member

    Joined:
    Nov 5, 2012
    Messages:
    30
    Likes Received:
    0
    Re: Red Eagle Mining (RD.V) Commences 17,000 Metre Phase Four Drill Programme at Sant

    Red Eagle grants options for 2.3 million shares

    Mr. Ian Slater reports

    STOCK OPTIONS GRANTED

    Red Eagle Mining Corp. has granted stock options to buy 2,305,000 shares exercisable at a price of 55 cents until Dec. 6, 2017, to directors, officers, employees and investor relations consultants.
     
  4. mickymoose99

    mickymoose99 Member

    Joined:
    Nov 24, 2009
    Messages:
    310
    Likes Received:
    0
    Occupation:
    Investor
    Location:
    Red Bank N.J
    Red Eagle Mining (RD.V) Commences Environmental Impact Assessment and Augments Mine

    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.
     
  5. mickymoose99

    mickymoose99 Member

    Joined:
    Nov 24, 2009
    Messages:
    310
    Likes Received:
    0
    Occupation:
    Investor
    Location:
    Red Bank N.J
    Red Eagle Mining (RD.V) Announces Initial Santa Rosa NI 43-101 Resource

    Red Eagle Mining (RD.V) Announces Initial Santa Rosa NI 43-101 Resource

    VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 21, 2013) -Red Eagle Mining Corporation (TSX VENTURE:RD)(OTCQX:RDEMF) is pleased to announce that an initial NI 43-101 resource estimate for its 100% controlled Santa Rosa gold project has established an Indicated mineral resource of 7.34 million tonnes at 1.37 grams gold per tonne containing 322,000 ounces gold and an Inferred mineral resource of 9.45 million tonnes at 1.50 grams gold per tonne containing 456,000 ounces gold. All of these announced resources occur at the San Ramon deposit, one of numerous gold prospects undergoing exploration by Red Eagle Mining at the 390 km² Santa Rosa gold project. An updated resource estimate incorporating an additional 17,000 metres of drilling currently in progress at San Ramon is targeted to be released mid-2013.

    This resource estimate was prepared by Mine Development Associates in accordance with the definitions in the Canadian National Instrument 43-101 (NI 43-101) based on 23,000m drilled to date. For resource reporting, a cut-off grade of 0.30 g/t Au was determined to reflect expected mining and processing operating conditions. The majority of the Indicated resource occurs within 100m of the surface, where the deposit has been drilled to 50m centres. The resource below 100m is primarily an Inferred resource drilled to approximately 100m centres to a depth of 250m, which is currently defined as the likely extent of a potential open-pit. Wider-spaced drilling indicates that mineralisation is present at depths of over 300m.


    Cutoff

    Indicated Resource

    Inferred Resource


    g/t Au

    Tonnes

    g/t Au

    oz Au

    Tonnes

    g/t Au

    oz Au


    0.20

    9,239,000

    1.14

    338,000

    12,137,000

    1.22

    477,000


    0.30

    7,339,000

    1.37

    322,000

    9,453,000

    1.50

    456,000


    0.40

    6,031,000

    1.59

    308,000

    7,748,000

    1.75

    437,000


    0.50

    5,151,000

    1.78

    295,000

    6,625,000

    1.97

    421,000


    1.00

    2,821,000

    2.66

    242,000

    3,645,000

    3.01

    353,000


    1.50

    1,643,000

    3.70

    195,000

    2,140,000

    4.26

    293,000


    2.00

    1,080,000

    4.73

    164,000

    1,463,000

    5.44

    256,000

    Since the cut-off date for the resource estimate, an additional 17,000m drill program has been in progress. The updated resource estimate will incorporate infill drilling to 50m centres to a depth of 250m which it is anticipated should upgrade a majority of the existing Inferred resources below 100m to the Indicated classification. In addition, the San Ramon gold deposit remains open at depth and, due to significant high grade resources (approximately 50% of the ounces in the Inferred resource average over 5g/t Au), indicates potential for underground mining. Therefore, the updated resource will also incorporate broad spaced drilling from 250m to 500m depth to establish an Inferred resource suitable for potential development by underground mining methods.

    "We are extremely pleased by the results of this initial resource estimate for San Ramon and look forward to both increasing the quality and tonnage with an updated resource estimate targeted for release mid-year based on the current drilling," comments Ian Slater, Chief Executive Officer. "The resource estimate establishes San Ramon as one of the highest-grade deposits amenable to low-cost open-pit mining in Colombia."

    The San Ramon structure trends east-west, dips 60°-70° to the north, extends over 1,800m, is up to 50m wide and is mineralised from surface. 23,000m of core have been drilled to date to a vertical depth of 250m to 300m with mineralisation remaining open at depth. Preliminary metallurgy test work returned an average gold recovery of 93.5% through flotation and cyanide leaching.

    Anticipated news flow over the coming months will include: •Results from the current 17,000 metre Phase Four drill programme (Q1 2013); •Preliminary Economic Assessment (Q2 2013); •Environmental Impact Assessment (Q2 2013); •Updated NI 43-101 resource estimate (mid 2013); and •Feasibility and permitting (Q1 2014).

    The Santa Rosa resource estimates were prepared by Michael Lindholm C.P.G., of Mine Development Associates of Reno, Nevada, who is a "Qualified Person" as defined under NI 43-101. The complete NI 43-101 technical report will be filed within 45 days and will be available on Red Eagle Mining's website and www.sedar.com. The technical information contained in this news release has been reviewed and approved by Red Eagle Mining's Vice President of Exploration, Jeff Toohey P.Geo., who is a "Qualified Person" as defined under NI 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.
     
  6. mickymoose99

    mickymoose99 Member

    Joined:
    Nov 24, 2009
    Messages:
    310
    Likes Received:
    0
    Occupation:
    Investor
    Location:
    Red Bank N.J
    Red Eagle Mining (RD.V) Files Santa Rosa NI 43-101 Technical Report

    Red Eagle Mining (RD.V) Files Santa Rosa NI 43-101 Technical Report



    VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 14, 2013) -Red Eagle Mining Corporation (TSX VENTURE:RD)(OTCQX:RDEMF) is pleased to announce that it has filed a NI 43-101 Technical Report dated effective January 16, 2013. The Technical Report is with respect to the initial Resource Estimate for the 100% controlled San Ramon Deposit, Santa Rosa Gold Project in Antioquia, Colombia. This initial Resource Estimate established an Indicated mineral resource of 7.34 million tonnes at 1.37 grams gold per tonne containing 322,000 ounces gold and an Inferred mineral resource of 9.45 million tonnes at 1.50 grams gold per tonne containing 456,000 ounces gold. All of these announced resources occur at the San Ramon deposit, one of numerous gold prospects undergoing exploration by Red Eagle Mining at the 390 km² Santa Rosa Gold Project. An updated Resource Estimate, incorporating an additional 17,000 metres of drilling currently underway at San Ramon, is targeted to be released mid-2013.

    The results were announced in a news release dated January 21, 2013 and there are no material differences between the results announced in that news release and those contained in the final Technical Report. The complete NI 43-101 Technical Report is available on Red Eagle Mining's website and www.sedar.com.

    The Santa Rosa Resource Estimate was prepared by Michael Lindholm, C.P.G., of Mine Development Associates of Reno, Nevada, who is a "Qualified Person" as defined under NI 43-101. The technical information contained in this news release has been reviewed and approved by Red Eagle Mining's Vice President of Exploration, Jeff Toohey P.Eng., who is a "Qualified Person" as defined under NI 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.
     
  7. mickymoose99

    mickymoose99 Member

    Joined:
    Nov 24, 2009
    Messages:
    310
    Likes Received:
    0
    Occupation:
    Investor
    Location:
    Red Bank N.J
    Red Eagle Mining (RD.V) Intercepts 0.6 Metres at 157.70 Grams Gold Per Tonne and 1.5

    Red Eagle Mining (RD.V) Intercepts 0.6 Metres at 157.70 Grams Gold Per Tonne and 1.5 Metres at 34.34 Grams Gold Per Tonne at Santa Rosa



    Red Eagle Mining Corporation (RD.V) (TSX VENTURE:RD) (OTCQX:RDEMF) is pleased to announce assay results from the Phase Four drill programme at the San Ramon Deposit, Santa Rosa Gold Project, Antioquia, Colombia. Highlights from the initial 46 drill holes (SR-140 to SR-185) include intercepts:
    •SR-142 - 54.2m at 0.77 g/t Au from 354.4m down hole
    •SR-146 - 46.5m at 0.93 g/t Au from 105.8m down hole (incl. 0.8m at 27.20 g/t Au)
    •SR-168 - 36.1m at 2.64 g/t Au from 392.5m down hole (incl. 1.5m at 34.34 g/t Au)
    •SR-172 - 0.6m at 157.70 g/t Au from 398.4m down hole
    •SR-175 - 4.1m at 12.75 g/t Au from 117.7m down hole (incl. 1.7m at 25.47 g/t Au)
    •SR-177 - 37.5m at 1.27 g/t Au from 69.5m down hole (incl. 0.5m at 43.90 g/t Au)
    •SR-181 - 7.3m at 6.08 g/t Au from 148.3m down hole (incl. 0.8m at 35.90 g/t Au)
    •SR-182 - 0.8m at 36.30 g/t Au from 55.5m down hole
    •SR-184 - 28.8m at 1.54 g/t Au from 178.0m down hole
    •SR-185 - 14.3m at 2.74 g/t Au from 46.7m down hole (incl. 0.9m at 30.90 g/t Au)

    "Our delineation drilling has successfully confirmed continuity of strong gold mineralisation to the maximum extent of a potential open pit at San Ramon," comments Ian Slater, Chief Executive Officer. "In addition, we have been encouraged with the initial drill holes testing the gold system down dip, where typically higher grades have been intercepted, and have expanded the current drill programme from 17,000 metres to 22,000 metres."

    Since the cut-off date for the recently released Resource Estimate (news release dated January 21, 2013), this additional 22,000m Phase Four drill programme has been in progress. 13,320m in 61 holes have been drilled to date with assays pending on the latest 15 holes (SR-186 to SR-200). An updated Resource Estimate planned for release mid 2013 will incorporate infill drilling to 50m centres to a depth of 250m which it is anticipated should upgrade a majority of the existing Inferred Resources below 100m to the Indicated classification. In addition, the San Ramon Gold Deposit remains open at depth and, due to significant high grade Resources (approximately 50% of the ounces in the Inferred Resource average over 5g/t Au), indicates potential for underground mining. Therefore, the updated Resource will also incorporate broad spaced drilling from 250m to 500m depth to establish an Inferred Resource suitable for potential development by underground mining methods.

    The San Ramon deposit trends east-west, dips 70° to the north, extends over 1,900m, is up to 50m wide and is mineralised from surface. 23,000m of core have been drilled through Phase Three to a vertical depth of 250m to 300m with mineralisation remaining open at depth. The initial Resource Estimate includes an Indicated Resource of 7.34 million tonnes at 1.37 g/t Au containing 322,000 ounces gold and an Inferred Resource of 9.45 million tonnes at 1.50 g/t Au containing 456,000 ounces gold. All of these Resources occur at the San Ramon Deposit, one of numerous gold prospects undergoing exploration at Santa Rosa. Preliminary metallurgy test work returned an average CIL gold recovery of 95%.

    Anticipated news flow over the coming months includes:
    •Results from the current 22,000 metre Phase Four drill programme (ongoing);
    •Preliminary Economic Assessment (Q2 2013);
    •Environmental Impact Assessment (Q2 2013);
    •Updated NI 43-101 Resource Estimate (mid 2013); and
    •Feasibility and permitting (2014).

    Table 1 summarizes the significant (+0.20 g/t) uncut gold intercepts from Phase Four core drill holes SR-140 to SR-185 (also see Figure 1 - Drill Hole Plan and Table 2 - Drill Hole Specifications). True widths are estimated to be 70-90% of the intercepts and vertical depths are estimated to be 70-90% of the drilled depths reported below. Drill assays were composited by length-weighted averaging into intersections using a 0.3 g/t Au cut-off grade. Due to the mining method and mining selectivity contemplated for the deposit, internal dilution was included in some intersections where considered appropriate from the point of view of mining continuity.

    Holes SR-144, 148, 151, 153, 154 and 162 were testing extensions to the western extent of the deposit and did not intercept economic mineralisation. Holes SR-155 and SR-171 were abandoned. For pictures of the drill core see Red Eagle's photostream on flickr.

    Quality Assurance and Quality Control

    All drill samples were collected with a diamond core drill rig using approximately one metre sample intervals of whole core and following standard industry practice. Acme Analytical Laboratories prepped and screened samples in Medellin, Colombia and assayed samples in Santiago, Chile. Gold values were determined by fire assay of a 50g charge at 250 mesh pulp with an AAS finish, or if over 10 g/t Au, were re-assayed and completed with a gravimetric finish. The coarse crush split reject (<16mm) was retained for metallurgical testwork. 10% of a range of selected assays over 0.2 g/t Au, with an average of approximately 1.0 g/t Au were taken from the middling split reject and submitted for metallic screening analysis at 150 mesh pulp followed by fire assay and both AAS and gravimetric finish. Any discrepancies were reanalysed from the remaining middling reject by gravity concentration and acid digest. QA/QC included the insertion and continual monitoring of standards and blanks into 10% of the sample stream batches, along with check assays conducted at alternate accredited laboratories.

    The technical information contained in this news release has been reviewed and approved by Red Eagle Mining's Vice President of Exploration, Jeff Toohey P.Eng., who is a "Qualified Person" as defined under NI 43-101.
     
  8. mickymoose99

    mickymoose99 Member

    Joined:
    Nov 24, 2009
    Messages:
    310
    Likes Received:
    0
    Occupation:
    Investor
    Location:
    Red Bank N.J
    Red Eagle Mining (RD.V) Intercepts 63.4 Metres at 1.36 Grams Gold Per Tonne and 8.7

    Red Eagle Mining (RD.V) Intercepts 63.4 Metres at 1.36 Grams Gold Per Tonne and 8.7 Metres at 7.11 Grams Gold Per Tonne at Santa Rosa



    VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 19, 2013) -Red Eagle Mining Corporation (TSX VENTURE:RD)(OTCQX:RDEMF) is pleased to announce additional assay results from the Phase Four drill programme at the San Ramon Deposit, Santa Rosa Gold Project, Antioquia, Colombia. Highlights from an additional eleven drill holes (SR-186 to SR-196) include intercepts:
    •SR-186 - 63.4m at 1.36 g/t Au from 107.8m down hole (incl. 1.0m at 37.00 g/t Au)
    •SR-187 - 23.6m at 1.00 g/t Au from 28.7m down hole (incl. 1.1m at 11.30 g/t Au)
    •SR-188 - 8.4m at 4.29 g/t Au from 70.4m down hole (incl. 2.3m at 13.51 g/t Au)
    •SR-189 - 8.7m at 7.11 g/t Au from 154.8m down hole (incl. 1.0m at 36.10 g/t Au)
    •SR-194 - 1.3m at 15.61 g/t Au from 191.6m down hole (incl. 0.7m at 25.80 g/t Au)

    "Our delineation drilling continues to confirm continuity of strong gold mineralisation to the extent of a potential open pit at San Ramon", comments Jeff Toohey, Vice President Exploration. "In addition, we continue to intercept multiple high grade domains at depth."

    The current 22,000m Phase Four drill programme is planned to be completed in May 2013. 16,370m in 75 holes have been drilled to date with assays pending on the latest 18 holes (SR-197 to SR-214). Results from Phase Four drill holes SR-140 to SR-185 were previously announced (news release dated March 4, 2013). An updated Resource Estimate planned for release mid 2013 will incorporate infill drilling to 50m centres to a depth of 250m which it is anticipated should upgrade a majority of the existing Inferred Resources below 100m to the Indicated classification. In addition, the San Ramon Gold Deposit remains open at depth and, due to significant high grade Resources (approximately 50% of the ounces in the Inferred Resource average over 5g/t Au), indicates potential for underground mining. Therefore, the updated Resource Estimate will also incorporate broad spaced drilling from approximately 250m to 500m depth to establish an Inferred Resource suitable for potential development by underground mining methods.

    The San Ramon deposit trends east-west, dips 70° to the north, extends over 1,900m, is up to 50m wide and is mineralised from surface. 23,000m of core have been drilled through Phase Three to a vertical depth of 250m to 300m with mineralisation remaining open at depth. The initial Resource Estimate includes an Indicated Resource of 7.34 million tonnes at 1.37 g/t Au containing 322,000 ounces gold and an Inferred Resource of 9.45 million tonnes at 1.50 g/t Au containing 456,000 ounces gold. All of these Resources occur at the San Ramon Deposit, one of numerous gold prospects undergoing exploration at Santa Rosa. Metallurgy test work to date has returned an average CIL gold recovery of 94%.

    Anticipated news flow over the coming months includes:
    •Final results from the current 22,000m Phase Four drill programme (April/May 2013);
    •Updated NI 43-101 Resource Estimate (mid 2013);
    •Preliminary Economic Assessment (Q3 2013);
    •Environmental Impact Assessment (Q3 2013); and
    •Feasibility and permitting (2014).

    Table 1 summarizes the significant (+0.30 g/t) uncut gold intercepts from Phase Four core drill holes SR-186 to SR-196 (also see Figure 1 - Drill Hole Plan and Table 2 - Drill Hole Specifications). True widths are estimated to be 70-90% of the intercepts and vertical depths are estimated to be 70-90% of the drilled depths reported below. Drill assays were composited by length-weighted averaging into intersections using a 0.30 g/t Au cut-off grade. Due to the mining method and mining selectivity contemplated for the deposit, internal dilution was included in some intersections where considered appropriate for mining continuity. Hole SR-192 did not intercept economic mineralisation. For photographs of the drill core see Red Eagle's photostream on flickr.

    Quality Assurance and Quality Control

    All drill samples were collected with a diamond core drill rig using approximately one metre sample intervals of whole core and following standard industry practice. Acme Analytical Laboratories prepped and screened samples in Medellin, Colombia and assayed samples in Santiago, Chile. Gold values were determined by fire assay of a 50g charge at 250 mesh pulp with an AAS finish, or if over 10 g/t Au, were re-assayed and completed with a gravimetric finish. The coarse crush split reject (<16mm) was retained for metallurgical testwork. 10% of a range of selected assays over 0.2 g/t Au, with an average of approximately 1.0 g/t Au were taken from the middling split reject and submitted for metallic screening analysis at 150 mesh pulp followed by fire assay and both AAS and gravimetric finish. Any discrepancies were reanalysed from the remaining middling reject by gravity concentration and acid digest. QA/QC included the insertion and continual monitoring of standards and blanks into 10% of the sample stream batches, along with check assays conducted at alternate accredited laboratories.

    The technical information contained in this news release has been reviewed and approved by Red Eagle Mining's Vice President of Exploration, Jeff Toohey P.Eng., who is a "Qualified Person" as defined under NI 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 developing the 390 km² Santa Rosa Gold Project located in Antioquia, Colombia. Santa Rosa is an intrusive hosted structurally-controlled quartz stockwork system within the prolific Antioquia Batholith. Gold mining within the Santa Rosa Gold 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 holds an extensive package of exploration ground throughout Colombia, including the Pavo Real Gold Project.



    Table 1 - San Ramon Additional Phase Four Drill Intercepts



    Hole ID

    From (m)

    To (m)

    Length (m)

    Au (g/t)



    SR-186

    107.8

    171.2

    63.4

    1.36



    incl.

    158.2

    171.2

    13.0

    4.65



    incl.

    158.2

    158.8

    0.6

    22.60



    incl.

    166.1

    167.1

    1.0

    37.00



    SR-187

    28.7

    52.3

    23.6

    1.00



    incl.

    48.9

    52.3

    3.4

    4.31



    incl.

    50.3

    51.4

    1.1

    11.30



    SR-188

    70.4

    78.8

    8.4

    4.29



    incl.

    70.4

    71.0

    0.6

    7.44



    incl.

    76.5

    78.8

    2.3

    13.51



    SR-189

    89.1

    89.6

    0.5

    14.30





    154.8

    163.5

    8.7

    7.11



    incl.

    154.8

    155.8

    1.0

    36.10



    incl.

    158.5

    160.0

    1.6

    11.90



    SR-190

    24.9

    27.2

    2.3

    0.95



    SR-191

    105.1

    106.7

    1.6

    0.83





    123.4

    132.6

    9.2

    0.91



    incl.

    123.4

    124.3

    0.8

    3.08



    SR-193

    109.0

    111.3

    2.3

    0.85





    178.4

    179.2

    0.8

    1.51





    187.3

    188.4

    1.1

    1.04





    231.0

    234.9

    3.9

    0.80



    SR-194

    191.6

    192.9

    1.3

    15.61



    incl.

    192.2

    192.9

    0.7

    25.80



    SR-195

    61.3

    63.0

    1.7

    0.74





    77.0

    79.7

    2.7

    5.39



    incl.

    77.0

    78.0

    1.0

    10.80



    SR-196

    36.8

    38.5

    1.7

    0.79





    68.5

    81.3

    12.8

    1.06



    incl.

    68.5

    71.5

    3.0

    3.70
     
  9. mickymoose99

    mickymoose99 Member

    Joined:
    Nov 24, 2009
    Messages:
    310
    Likes Received:
    0
    Occupation:
    Investor
    Location:
    Red Bank N.J
    Red Eagle Mining (RD.V) Intercepts 4.45 Metres at 15.25 Grams Gold Per Tonne and 2.30

    Red Eagle Mining (RD.V) Intercepts 4.45 Metres at 15.25 Grams Gold Per Tonne and 2.30 Metres at 35.72 Grams Gold Per Tonne at Santa Rosa

    Red Eagle Mining (RD.V) Intercepts 4.45 Metres at 15.25 Grams Gold Per Tonne and 2.30 Metres at 35.72 Grams Gold Per Tonne at Santa Rosa VANCOUVER, BRITISH COLUMBIA–(Marketwired – April 9, 2013) -Red Eagle Mining Corporation (TSX VENTURE:RD)(OTCQX:RDEMF) is pleased to announce additional assay results from the Phase Four drill programme at the San Ramon Deposit, Santa Rosa Gold Project, Antioquia, Colombia. Highlights from an additional 15 drill holes (SR-197 to SR-211) include intercepts: •SR-198 – 2.40m at 8.66 g/t Au from 74.50m down hole (incl. 0.59m at 21.70 g/t Au) •SR-202 – 2.30m at 35.72 g/t Au from 129.40m down hole (incl. 0.70m at 77.60 g/t Au) •SR-203 – 10.60m at 3.07 g/t Au from 132.95m down hole (incl. 1.35m at 19.40 g/t Au) •SR-204 – 11.70m at 1.75 g/t Au from 178.00m down hole (incl. 1.20m at 8.37 g/t Au) •SR-207 – 16.10m at 1.03 g/t Au from 127.00m down hole (incl. 0.70m at 8.81 g/t Au) •SR-211 – 23.30m at 3.50 g/t Au from 91.10m down hole (incl. 4.45m at 15.25 g/t Au) “Our delineation drilling continues to confirm continuity of strong high grade gold mineralisation within the extent of a potential open pit at San Ramon”, comments Jeff Toohey, Vice President Exploration. “In addition, we look forward to upcoming results from current drilling at depth.” The current 22,000m Phase Four drill programme is planned to be completed in May 2013. 19,040m in 86 holes have been drilled to date with assays pending on the latest 14 holes (SR-212 to SR-225). Results from Phase Four drill holes SR-140 to SR-196 were previously announced (news releases dated March 4, 2013 and March 19, 2013). An updated Resource Estimate planned for release mid 2013 will incorporate infill drilling to 50m centres to a depth of 250m which is expected to upgrade a majority of the existing Inferred Resources below 100m to the Indicated classification. In addition, the San Ramon Gold Deposit remains open at depth and has the potential to be mined from underground (approximately 50% of the ounces in the current Inferred Resource average over 5g/t Au). Therefore, the updated Resource Estimate will also incorporate broad spaced drilling from approximately 250m to 500m depth to establish an Inferred Resource suitable for potential development by underground mining methods.

    The San Ramon deposit trends east-west, dips 70° to the north, extends over 1,900m, is up to 50m wide and is mineralised from surface. A total of 23,000m of core in 139 holes have been drilled through Phase Three to a vertical depth of 250m to 300m with mineralisation remaining open at depth. The initial Resource Estimate includes an Indicated Resource of 7.34 million tonnes at 1.37 g/t Au containing 322,000 ounces gold and an Inferred Resource of 9.45 million tonnes at 1.50 g/t Au containing 456,000 ounces gold. All of these Resources occur at the San Ramon Deposit, one of numerous gold prospects undergoing exploration at Santa Rosa. Metallurgy test work to date has returned an average CIL gold recovery of 94%. Anticipated news flow over the coming months includes: •Final results from the current 22,000m Phase Four drill programme (April/May 2013); •Updated NI 43-101 Resource Estimate (mid 2013); •Preliminary Economic Assessment (Q3 2013); •Environmental Impact Assessment (Q3 2013); and •Feasibility and permitting (2014). Table 1 summarizes the significant (+0.30 g/t) uncut gold intercepts from Phase Four core drill holes SR-197 to SR-211 (also see Figure 1 – Drill Hole Plan and Table 2 – Drill Hole Specifications). True widths are estimated to be 70-90% of the intercepts and vertical depths are estimated to be 70-90% of the drilled depths reported below. Drill assays were composited by length-weighted averaging into intersections using a 0.30 g/t Au cut-off grade. Due to the mining method and mining selectivity contemplated for the deposit, internal dilution was included in some intersections where considered appropriate for mining continuity. Hole SR-199 was abandoned. For photographs of the drill core see Red Eagle’s photostream on flickr. Quality Assurance and Quality Control All drill samples were collected with a diamond core drill rig using approximately one metre sample intervals of whole core and following standard industry practice. Acme Analytical Laboratories prepped and screened samples in Medellin, Colombia and assayed samples in Santiago, Chile. Gold values were determined by fire assay of a 50g charge at 250 mesh pulp with an AAS finish, or if over 10 g/t Au, were re-assayed and completed with a gravimetric finish. The coarse crush split reject (<16mm) was retained for metallurgical testwork. 10% of a range of selected assays over 0.2 g/t Au, with an average of approximately 1.0 g/t Au were taken from the middling split reject and submitted for metallic screening analysis at 150 mesh pulp followed by fire assay and both AAS and gravimetric finish. Any discrepancies were reanalysed from the remaining middling reject by gravity concentration and acid digest. QA/QC included the insertion and continual monitoring of standards and blanks into 10% of the sample stream batches, along with check assays conducted at alternate accredited laboratories. The technical information contained in this news release has been reviewed and approved by Red Eagle Mining's Vice President of Exploration, Jeff Toohey P.Eng., who is a "Qualified Person" as defined under NI 43-101

    Read more at http://www.stockhouse.com/bullboard...439524&l=0&pd=0&r=0&msg=3#PeoQPEI5UCzElRE7.99
     
  10. mickymoose99

    mickymoose99 Member

    Joined:
    Nov 24, 2009
    Messages:
    310
    Likes Received:
    0
    Occupation:
    Investor
    Location:
    Red Bank N.J
    Red Eagle Mining (RD.V) Intercepts 24.00 Metres at 9.03 Grams Gold Per Tonne and 6.00

    Red Eagle Mining (RD.V) Intercepts 24.00 Metres at 9.03 Grams Gold Per Tonne and 6.00 Metres at 9.83 Grams Gold Per Tonne at Santa Rosa

    VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 7, 2013) -Red Eagle Mining Corporation(TSX VENTURE:RD)(OTCQX:RDEMF) is pleased to announce additional assay results from the Phase Four drill programme at the San Ramon Deposit, Santa Rosa Gold Project, Antioquia, Colombia. Highlights from an additional 14 drill holes (SR-212 to SR-225) include intercepts: •SR-215 - 24.00m at 9.03 g/t Au from 112.50m down hole (incl. 3.10m at 39.30 g/t Au) •SR-219 - 6.00m at 9.83 g/t Au from 156.00m down hole (incl. 1.40m at 36.00 g/t Au)

    "Our infill drilling programme to 250m depth is now complete and has confirmed continuity of strong gold mineralisation within the extent of a potential open pit at San Ramon," comments Jeff Toohey, Vice President Exploration. "Hole SR-215 was very encouraging as it demonstrated continuity of high grade mineralisation between the eastern and western zones. The remainder of the programme is testing the mineralisation down dip."

    The current 22,000m Phase Four drill programme is planned to be completed in May 2013. 20,235m in 89 holes have been drilled to date with assays pending on the latest three deeper holes (SR-226 to SR-228). Results from Phase Four drill holes SR-140 to SR-211 were previously announced (most recent news release dated April 9, 2013). An updated Resource Estimate planned for release in July, 2013 will incorporate infill drilling to 50m centres to a depth of 250m which is expected to upgrade a majority of the existing Inferred Resources below 100m to the Indicated classification. In addition, the San Ramon Gold Deposit remains open at depth and has the potential to be mined from underground (approximately 50% of the ounces in the current Inferred Resource average over 5g/t Au). Therefore, the updated Resource Estimate will also incorporate broad spaced drilling from approximately 250m to 500m depth to establish an Inferred Resource suitable for potential development by underground mining methods.

    The San Ramon deposit trends east-west, dips 70° to the north, extends over 1,900m, is up to 50m wide and is mineralised from surface. A total of 23,000m of core in 139 holes have been drilled through Phase Three to a vertical depth of 250m to 300m with mineralisation remaining open at depth. The initial Resource Estimate includes an Indicated Resource of 7.34 million tonnes at 1.37 g/t Au containing 322,000 ounces gold and an Inferred Resource of 9.45 million tonnes at 1.50 g/t Au containing 456,000 ounces gold. All of these Resources occur at the San Ramon Deposit, one of numerous gold prospects undergoing exploration at Santa Rosa. Metallurgical test work to date has returned an average CIL gold recovery of 94%.

    Anticipated news flow over the coming months includes: •Final results from the current 22,000m Phase Four drill programme (May 2013); •Updated NI 43-101 Resource Estimate (July 2013); •Preliminary Economic Assessment (Q3 2013); and •Environmental Impact Assessment (Q3 2013).

    Table 1 summarizes the significant (+0.30 g/t) uncut gold intercepts from Phase Four core drill holes SR-212 to SR-225 (also see Figure 1 - Drill Hole Plan and Table 2 - Drill Hole Specifications). True widths are estimated to be 70-90% of the intercepts and vertical depths are estimated to be 70-90% of the drilled depths reported below. Drill assays were composited by length-weighted averaging into intersections using a 0.30 g/t Au cut-off grade. Due to the mining method and mining selectivity contemplated for the deposit, internal dilution was included in some intersections where considered appropriate for mining continuity. Holes SR-214 and SR-217 did not intercept economic mineralisation. Holes SR-221, SR-224 and SR-225 were condemnation holes for the potential plant site. For photographs of the drill core see Red Eagle's photostream on flickr.

    Quality Assurance and Quality Control

    All drill samples were collected with a diamond core drill rig using approximately one metre sample intervals of whole core and following standard industry practice. Acme Analytical Laboratories prepped and screened samples in Medellin, Colombia and assayed samples in Santiago, Chile. Gold values were determined by fire assay of a 50g charge at 250 mesh pulp with an AAS finish, or if over 10 g/t Au, were re-assayed and completed with a gravimetric finish. The coarse crush split reject (<16mm) was retained for metallurgical testwork. 10% of a range of selected assays over 0.2 g/t Au, with an average of approximately 1.0 g/t Au were taken from the middling split reject and submitted for metallic screening analysis at 150 mesh pulp followed by fire assay and both AAS and gravimetric finish. Any discrepancies were reanalysed from the remaining middling reject by gravity concentration and acid digest. QA/QC included the insertion and continual monitoring of standards and blanks into 10% of the sample stream batches, along with check assays conducted at alternate accredited laboratories.

    The technical information contained in this news release has been reviewed and approved by Red Eagle Mining's Vice President of Exploration, Jeff Toohey, P.Eng., who is a "Qualified Person" as defined under NI 43-101
     
  11. mickymoose99

    mickymoose99 Member

    Joined:
    Nov 24, 2009
    Messages:
    310
    Likes Received:
    0
    Occupation:
    Investor
    Location:
    Red Bank N.J
    Red Eagle Mining (RD.V) Successfully Completes Phase Four Drilling at Santa Rosa

    Red Eagle Mining (RD.V) Successfully Completes Phase Four Drilling at Santa Rosa



    VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 28, 2013) - Red Eagle Mining Corporation (TSX VENTURE:RD) (RDEMF) is pleased to announce that Phase Four drilling is complete and all assay results have been received from the 22,000 metre programme at the San Ramon Deposit, Santa Rosa Gold Project, Antioquia, Colombia. Highlights from the entire 94 hole programme (SR-140 to SR-233) include intercepts:
    •SR-168 - 36.10m at 2.64 g/t Au from 392.50m down hole (incl. 1.50m at 34.34 g/t Au)
    •SR-172 - 0.60m at 157.70 g/t Au from 398.40m down hole
    •SR-175 - 4.10m at 12.75 g/t Au from 117.70m down hole (incl. 1.70m at 25.47 g/t Au)
    •SR-177 - 37.50m at 1.27 g/t Au from 69.50m down hole (incl. 0.50m at 43.90 g/t Au)
    •SR-181 - 7.30m at 6.08 g/t Au from 148.30m down hole (incl. 0.80m at 35.90 g/t Au)
    •SR-184 - 28.80m at 1.54 g/t Au from 178.00m down hole
    •SR-186 - 63.40m at 1.36 g/t Au from 107.80m down hole (incl. 1.00m at 37.00 g/t Au)
    •SR-189 - 8.70m at 7.11 g/t Au from 154.80m down hole (incl. 1.00m at 36.10 g/t Au)
    •SR-202 - 2.30m at 35.72 g/t Au from 129.40m down hole (incl. 0.70m at 77.60 g/t Au)
    •SR-211 - 23.30m at 3.50 g/t Au from 91.10m down hole (incl. 4.45m at 15.25 g/t Au)
    •SR-215 - 24.00m at 9.03 g/t Au from 112.50m down hole (incl. 3.10m at 39.30 g/t Au)
    •SR-219 - 6.00m at 9.83 g/t Au from 156.00m down hole (incl. 1.40m at 36.00 g/t Au)

    "Our Phase Four drilling programme has successfully delineated the resource to 250 metres depth and extended the resource to more than 500m at depth", comments Jeff Toohey, Vice President Exploration. "Over 90% of drill holes encountered economic mineralisation including high grades over significant intervals."

    An updated Resource Estimate planned for release in July, 2013 will incorporate all of the Phase Four results including infill drilling to 50m centres to a depth of 250m which is expected to upgrade a majority of the existing Inferred Resources below 100m to the Measured and Indicated classifications. In addition, the San Ramon Gold Deposit remains open at depth and has the potential to be mined from underground (at a 2 g/t Au cut-off the current Inferred Resource averages 5.44 g/t Au). Therefore, the July 2013 Resource Estimate will also incorporate the broad spaced drilling completed to date, from approximately 250m to 500m depth, to establish an Inferred Resource suitable for potential development by underground mining methods. The July Resource Estimate will be incorporated into a Preliminary Economic Assessment and Environmental Impact Assessment planned for release early in the autumn of 2013.

    The San Ramon deposit trends east-west, dips 70° to the north, extends over 1,900m, is up to 50m wide and is mineralised from surface. A total of 45,000m of core in 233 holes have been drilled to a vertical depth of more than 500m with mineralisation remaining open at depth. The initial, January 2013, Resource Estimate based on 23,000m of drilling to a depth of 300m included an Indicated Resource of 7.34 million tonnes at 1.37 g/t Au containing 322,000 ounces gold and an Inferred Resource of 9.45 million tonnes at 1.50 g/t Au containing 456,000 ounces gold. All of these Resources occur at the San Ramon Deposit, one of numerous gold prospects undergoing exploration at Santa Rosa. Metallurgical test work to date has returned an average CIL gold recovery of 94%.

    For complete drill results, please see Table 1 - Drill Hole Intercepts, Table 2 - Drill Hole Specifications and Figure 1 - Drill Hole Plan. Drill holes up to SR-225 have been previously released. True widths are estimated to be 70-90% of the intercepts and vertical depths are estimated to be 70-90% of the drilled depths reported below. Drill assays were composited by length-weighted averaging into intersections using a 0.30 g/t Au cut-off grade. Due to the mining method and mining selectivity contemplated for the deposit, internal dilution was included in some intersections where considered appropriate for mining continuity. For photographs of the drill core see Red Eagle's photostream on flickr.

    Quality Assurance and Quality Control

    All drill samples were collected with a diamond core drill rig using approximately one metre sample intervals of whole core and following standard industry practice. Acme Analytical Laboratories prepped and screened samples in Medellin, Colombia and assayed samples in Santiago, Chile. Gold values were determined by fire assay of a 50g charge at 250 mesh pulp with an AAS finish, or if over 10 g/t Au, were re-assayed and completed with a gravimetric finish. The coarse crush split reject (

    The technical information contained in this news release has been reviewed and approved by Red Eagle Mining's Vice President of Exploration, Jeff Toohey P.Eng., who is a "Qualified Person" as defined under NI 43-101.
     
  12. mickymoose99

    mickymoose99 Member

    Joined:
    Nov 24, 2009
    Messages:
    310
    Likes Received:
    0
    Occupation:
    Investor
    Location:
    Red Bank N.J
    Red Eagle Mining (RD.V) Completes Preliminary Economic Assessment for the San Ramon G

    Red Eagle Mining (RD.V) Completes Preliminary Economic Assessment for the San Ramon Gold Deposit


    VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 19, 2013) - Red Eagle Mining Corporation (TSX VENTURE:RD)(RDEMF) is pleased to announce the results from a positive Preliminary Economic Assessment ("PEA") for the San Ramon deposit on its 100% owned Santa Rosa Gold Project located in Antioquia, Colombia. Highlights include (all amounts in US$):
    •Assuming a long-term forecast gold price of $1,300/ounce gold ("Base Case") pre-tax Net Present Value (5%) is $153 million, Internal Rate of Return is 47% and payback is estimated at 1.4 years;
    •Underground resources outlined in the PEA contain a portion of the resources estimated on September 10, 2013 (see below) and include Measured and Indicated Mineral Resources of 446,000 ounces of gold (2.7 million tonnes grading 5.10 grams gold per tonne) and Inferred Mineral Resources of 111,000 ounces of gold (0.8 million tonnes grading 4.16 grams gold per tonne);
    •Average annual production of 51,000 ounces of gold over 10 years;
    •Project capital costs, incl. contingencies, of $84 million plus $7 million of recoverable VAT; and
    •Average cash costs of $540/ounce.

    Table 1 - Summary of San Ramon Pre-Tax Economic Results by Gold Price

    Pre-Tax Alternative Case Base Case Alternative Case
    Gold Price (ounce) $1,100 $1,300 $1,500
    Net Cash Flow $113 million $211 million $308 million
    Net Present Value (5%) $75 million $153 million $230 million
    Internal Rate of Return 27% 47% 66%
    Payback 2.1 years 1.4 years 1.1 years

    Table 2 - Summary of San Ramon Post-Tax Economic Results by Gold Price

    Post-Tax Alternative Case Base Case Alternative Case
    Gold Price (ounce) $1,100 $1,300 $1,500
    Net Cash Flow $89 million $159 million $223 million
    Net Present Value (5%) $58 million $113 million $164 million
    Internal Rate of Return 23% 38% 50%
    Payback 2.5 years 1.7 years 1.4 years

    The PEA was prepared by Mine Development Associates in accordance with the definitions in Canadian National Instrument 43-101 ("NI 43-101"). The PEA is considered preliminary in nature. It includes Inferred mineral resources that are considered too speculative to have the economic considerations applied that would enable classification as mineral reserves. There is no certainty that the conclusions within the PEA will be realised. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

    Project Mineral Resources

    The underground resources outlined in the PEA contain a portion of the resources estimated on September 10, 2013 (see below), adjusted using an average cut-off of 2.10 grams gold per tonne. Measured and Indicated material below the mining cutoff grade inside of mineable areas were used to dilute the material processed with an average grade of 1.51 grams per tonne. Additional internal dilution of non-resource stated material was added at zero grade. Total dilution of 26% is included in the minable material.

    Table 3 -San Ramon Underground Resources Estimate

    Category Tonnes Gold (g/t) Gold (ounces)
    Measured 489,367 5.68 89,368
    Indicated 2,232,291 4.97 356,708
    Total M&I 2,721,658 5.10 446,076
    Inferred 831,370 4.16 111,151

    After fully studying the alternatives, a decision was made to prepare a PEA based on an underground operation due to economic and permitting considerations. The September 10, 2013 resource estimate is dominantly an open pit resource, which was the initial concept, and is included here for reference only. It is based on 45,600m in 238 core holes drilled. Approximately 75% of the resources are Measured and Indicated with the classification primarily a function of drill hole spacing. The block model utilises blocks that are 2m north-south by 2.5m vertical by 2.5m east-west. For resource reporting, a cut-off grade of 0.3 grams gold per tonne was used for potential open pit mineable material (to a maximum depth of 330m below the surface) and a cut-off grade of 1.2 grams gold per tonne was used for the remaining potential underground mineable material. The deposit remains open at depth.

    Table 4 -San Ramon September 10, 2013 Resource Estimate

    Category Tonnes Gold (g/t) Gold (ounces)
    Measured 1,771,000 2.00 114,000
    Indicated 8,577,000 1.77 487,000
    Total M&I 10,348,000 1.81 601,000
    Inferred 2,966,000 1.69 161,000

    The September 10, 2013 resource estimate was prepared by Michael Lindholm C.P.G., of Mine Development Associates of Reno, Nevada, who is a Qualified Person as defined under NI 43-101. The complete NI 43-101 Technical Report pertaining to the updated resource estimate is available on Red Eagle Mining's website and www.sedar.com.

    Mining and Processing

    The PEA is based upon San Ramon being an underground mining operation using mechanized cut-and-fill and sublevel long-hole open stoping mining methods. It is assumed the plant will be designed to operate at a processing rate of 1,000 tonnes per day and a total of 3.6 million tonnes of ore will be mined over 10 years at an average run of mine ("ROM") mill feed grade of 4.76 grams gold per tonne.

    The PEA also assumes that the ore will be processed using conventional whole-ore carbon-in-leach ("CIL") producing gold doré. Expected metallurgical recoveries for the sulphide material are 93% at an optimum P₈₀75 micron grind size with a total estimated 514,000 ounces of recoverable gold to be produced over 10 years. San Ramon's projected recoverable production rates are summarised below:

    Table 5 -San Ramon Projected 10 Year Annual Gold Production

    Year Tonnes Milled ROM Gold Grade (g/t) Recoverable Gold (oz)
    1 360,000 8.11 87,000
    2 360,000 6.46 70,000
    3 360,000 4.88 53,000
    4 360,000 3.95 42,000
    5 360,000 3.48 38,000
    6 360,000 3.92 42,000
    7 360,000 4.32 47,000
    8 360,000 4.08 44,000
    9 360,000 5.31 57,000
    10 360,000 3.15 34,000
    Years 1-10 3,600,000 4.76 514,000

    Capital and Operating Costs

    The estimated capital and operating costs for San Ramon are summarised below. Indirect costs include EPCM and owners costs. Capital costs have assumed that the exploration decline planned on being developed during 2014 at an estimated cost of $9 million will be completed and can be utilised for mine development. Sustaining capital for underground development has been budgeted at $51 million throughout the ten year mine life.

    Table 6 -San Ramon Initial Capital Costs

    Mine Underground $16,744,000
    Mine Processing $42,878,000
    Total Direct Costs $59,622,000
    Indirect Costs $12,086,000
    Working Capital $1,964,000
    Contingency $10,992,000
    Total Capital Costs $84,664,000
    Recoverable VAT $6,783,000
    Total $91,447,000

    Table 7 -San Ramon Operating Costs

    $/Tonne
    Mining $43.28
    Processing $27.33
    Other $5.86
    Total Operating Costs $76.47

    All-in sustaining cash costs, including all project-related costs such as sustaining capital, exploration and reclamation costs are summarised below:

    Table 8 -San Ramon Cash Costs

    $/Ounce
    Cash Costs $540
    Depreciation $275
    Royalties $67
    Taxes $100
    Total All-In Costs $982

    Opportunities for enhanced economics

    Any doré produced will contain silver which has not been included in the September 2013 resource estimate or the results of the PEA.

    Metallurgical test work has primarily been performed on lower grade samples representative of grades in a potential open pit. Current test work is focused on higher grade samples representative of underground grades. A positive head grade recovery relationship is anticipated.

    Sample gold grade decreases significantly when core recoveries are below 70%, which may be due to washing out of gold from saprolite when drilling. Assays of samples of saprolite may therefore be understated where core recoveries are below 70%.

    Next Steps

    The planned work programme includes:
    •The current comprehensive metallurgical programme continuing throughout the remainder of 2013 with respect to higher grade ores, commensurate with the expected ROM grades outlined above;
    •Permitting including filing the Environment Impact Assessment, currently being prepared by Tetra Tech, Inc.;
    •Development of the decline and planned underground development;
    •Infill drilling from the planned underground development to increase confidence in the resource model and reduce mining risk;
    •Bulk metallurgical samples from the planned underground development;
    •Continuing advancement of engineering and feasibility; and
    •Exploration of the 350 km² Santa Rosa Gold Project, including testing with core drilling of a number of prospective targets identified to date.
     
  13. mickymoose99

    mickymoose99 Member

    Joined:
    Nov 24, 2009
    Messages:
    310
    Likes Received:
    0
    Occupation:
    Investor
    Location:
    Red Bank N.J
    Red Eagle Mining (RD.V) shares bought by one of their directors reported

    Red Eagle Mining (RD.V) shares bought by one of their directors reported

    09/19/13 Petterson, Timothy,
    Director of Issuer 75,000 Acquisition or disposition in the public market at $0.2647 - $0.2647 per share. $19,852
     
  14. mickymoose99

    mickymoose99 Member

    Joined:
    Nov 24, 2009
    Messages:
    310
    Likes Received:
    0
    Occupation:
    Investor
    Location:
    Red Bank N.J
    Red Eagle Mining (RD.V) Discovers New Mineralised Area at Pavo Real

    Red Eagle Mining (RD.V) Discovers New Mineralised Area at Pavo Real







    VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 8, 2013) - Red Eagle Mining Corporation (TSX VENTURE:RD)(OTCQX:RDEMF) is pleased to announce that results of recent surface rock channel sampling at the Pavo Real Gold Project located in Colombia have identified a new area of mineralisation. Highlights include 33.7 grams gold per tonne, greater than 100 grams silver per tonne, 0.23% copper and 0.23% zinc over 0.50 metres and are presented in Table 1 below.

    Table 1 - Highlights of Pavo Real Rock Channel Sampling Results

    Description Width
    (m) Au
    (g/t) Ag
    (g/t) Cu
    (%) Zn
    (%)
    Hydrothermal Breccia 0.80 1.46 4.4 0.01 0.06
    Hydrothermal Breccia 0.20 0.54 5.8 0.03 0.13
    Hydrothermal Breccia 0.30 12.70 34.9 0.21 0.30
    Hydrothermal Breccia 0.80 0.92 6.3 0.04 0.19
    Hydrothermal Breccia 0.50 6.93 8.1 0.14 0.75
    Hydrothermal Breccia 0.15 3.36 33.3 0.22 0.87
    Vein 0.30 11.30 32.5 0.93 0.10
    Vein 0.40 13.20 14.2 0.26 0.06
    Vein 0.50 33.70 >100.0 0.23 0.23
    Rhyodacite Porphyry 1.70 0.92 10.6 0.01 0.01
    Vein 0.60 17.10 61.7 0.06 0.02
    Vein 0.15 7.17 19.9 0.22 0.52
    Andesite 0.55 0.86 1.9 0.05 0.15
    Vein 0.10 1.14 15.0 0.04 0.03
    Rhyodacite Porphyry 1.00 0.55 3.2 0.03 0.07
    Vein 0.23 12.40 24.0 0.15 0.08
    Vein 0.20 5.13 13.0 0.07 0.07
    Vein 0.20 0.73 5.7 0.02 0.11
    Rhyodacite Porphyry 1.00 0.33 1.7 0.05 0.29
    Rhyodacite Porphyry 0.50 0.30 0.9 0.05 0.24
    Rhyodacite Porphyry 1.50 1.10 0.5 0.02 0.01
    Vein 0.30 0.23 8.2 0.01 0.16
    Vein 0.50 4.17 7.3 0.01 0.07

    The current exploration campaign is targeting the potential for large Au-bearing breccia bodies and the potential for related porphyry Au systems at depth. This most recent rock channel sampling programme was carried out in an area of high-level vein and hydrothermal breccia mineralisation associated with dykes of rhyodacite porphyry, where MMI soil sampling returned strong coincident Au, Ag and Cu anomalies. Highlights of relatively shallow drilling adjacent to this target area in 2012 included 7.1 metres averaging 1.54 g/t Au and 0.54 metres averaging 9.37 g/t Au in two separate drill holes (news release dated July 6, 2012). This initial 2012 drill programme, conducted prior to the MMI soil sampling, was designed to determine structural controls to quartz vein and veinlet systems in sedimentary host rocks and hydrothermal breccias, and did not effectively test the MMI anomalies nor the potential for deeper porphyry Au mineralisation.

    The 14,370 hectare Pavo Real Gold Project consists of 100% owned concessions and a joint-venture with Miranda Gold Corp. (TSX VENTURE:MAD) which Red Eagle Mining is currently earning-in to 70%. Pavo Real is located within the mid-Cauca gold belt, which is host to numerous porphyry and epithermal gold deposits. The Project is host to a Triassic-Jurassic sedimentary sequence made up of sandstones, siltstones, conglomerates, shales and limestones, overlain by a volcanic sequence of tuffs, agglomerates, and lavas. The sedimentary and volcanic sequences are intruded by various bodies of diorite, granite and rhyodacite porphyry, and cut by hydrothermal breccias and a large number of quartz veins and veinlet stockworks, all related to sericitic alteration. Red Eagle Mining is exploring a number of significant Au-bearing breccia, skarn and vein targets spread over a broad area at Pavo Real, with an emphasis on testing the potential for related porphyry Au systems. The Project is situated within the Department of Tolima, 20 kilometres south of the city of Ibague and 45 kilometres south-east of AngloGold Ashanti's La Colosa project (26.8 million ounce Inferred Resource grading 0.92 g/t Au).

    The technical information contained in this news release has been reviewed and approved by Red Eagle Mining's Vice President of Exploration, Jeff Toohey P.Eng., who is a Qualified Person as defined under NI 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. Management is focused on building shareholder value through discovering and developing gold projects with low costs and low technical risks in Colombia, a jurisdiction with prolific historic production but until recently limited modern exploration. Red Eagle Mining is developing the 320 km² historic Santa Rosa Gold Project located in the Antioquia Batholith. Development will initially commence with the San Ramon deposit where a positive Preliminary Economic Assessment supports project advancement. Feasibility and permitting are currently underway.
     
  15. mickymoose99

    mickymoose99 Member

    Joined:
    Nov 24, 2009
    Messages:
    310
    Likes Received:
    0
    Occupation:
    Investor
    Location:
    Red Bank N.J
    Red Eagle Mining (RD.V) Files Preliminary Economic Assessment for the San Ramon Gold

    Red Eagle Mining (RD.V) Files Preliminary Economic Assessment for the San Ramon Gold Deposit






    VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 30, 2013) - Red Eagle Mining Corporation (TSX VENTURE:RD)(OTCQX:RDEMF) is pleased to announce the complete NI 43-101 Technical Report pertaining to the positive Preliminary Economic Assessment ("PEA") for the San Ramon Gold Deposit on its 100% owned Santa Rosa Gold Project located in Antioquia, Colombia, has been filed. The Technical Report is available on www.sedar.com and Red Eagle Mining's website. For detailed results please see Red Eagle's news release dated September 19, 2013. Highlights include (all amounts in US$):
    •Assuming a long-term forecast gold price of $1,300/ounce gold: pre-tax Net Present Value (5%) is $152 million, Internal Rate of Return is 47% and payback is 1.4 years;
    •Project capital costs of $73 million plus $11 million contingency and $7 million of recoverable VAT;
    •Year one production of 87,000 ounces of gold at a fully diluted grade of 8.1 grams gold per tonne and post-tax cash flow of $61 million;
    •Average cash costs of $540/ounce.

    Table 1 - Summary of San Ramon Economic Results

    $1,300/Ounce Gold Pre-Tax Post-Tax
    Net Cash Flow $ 211 million $ 159 million
    Net Present Value (5%) $ 152 million $ 113 million
    Internal Rate of Return 47 % 37 %
    Payback 1.4 years 1.7 years

    Table 2 - Summary of San Ramon Key PEA Data


    Average Annual Production 51,000 oz/year
    Processing Rate 1,000 tonnes/day
    Life of Mine ("LOM") 10 years
    Initial Capex (incl. $11M contingency) $84 million
    Cash Costs $540/ounce or $76/tonne
    Years 1-5 Fully Diluted Processed Grade 5.38 grams gold per tonne
    LOM Fully Diluted Processed Grade 4.76 grams gold per tonne
    Gold Recovery 93%

    Going forward, the planned work programme includes:
    •The current comprehensive metallurgical programme continuing throughout the remainder of 2013 with respect to higher grade ores commensurate with underground mining;
    •Permitting including filing the Environment Impact Assessment, currently being prepared by Tetra Tech, Inc.;
    •Development of the decline and planned underground development;
    •Infill drilling from the planned underground development to increase confidence in the resource model and mitigate mining risk;
    •Completion of a Definitive Feasibility Study; and
    •Exploration of the 320 km² Santa Rosa Gold Project, including testing with core drilling of a number of prospective targets identified to date.

    The PEA was prepared by Mine Development Associates in accordance with the definitions in Canadian National Instrument 43-101 ("NI 43-101"). The PEA is considered preliminary in nature. It includes Inferred mineral resources that are considered too speculative to have the economic considerations applied that would enable classification as mineral reserves. There is no certainty that the conclusions within the PEA will be realised. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

    The technical information contained in this news release has been reviewed and approved by Red Eagle Mining's Vice President of Exploration, Jeff Toohey P.Eng., who is a Qualified Person as defined under NI 43-101.

    The following Qualified Persons as defined under NI 43-101 are independent of Red Eagle Mining and responsible for the Technical Report and Preliminary Economic Assessment for the San Ramon project development:

    Qualified Person Firm Scope of Responsibility
    Michael Lindholm - C.P.G. Mine Development Associates Geology and Mineral Resources
    Thomas Dyer - P. Eng. Mine Development Associates Mining, Mine Planning and Financial Analysis
    Carl Defilippi - Registered Member SME Kappes, Cassiday and Associates Process Design
    W. Joseph Schlitt - Ph.D. P. Eng. Hydrometal, Inc. Metallurgy and Processing

    About Red Eagle Mining

    Red Eagle Mining Corporation is a well-financed gold exploration and development company with an experienced mine-development team. Management is focused on building shareholder value through discovering and developing gold projects with low costs and low technical risks in Colombia, a jurisdiction with prolific historic production but until recently limited modern exploration. Red Eagle Mining is developing the 320 km² historic Santa Rosa Gold Project located in the Antioquia Batholith. Development will initially commence with the San Ramon Gold Deposit where a positive Preliminary Economic Assessment supports project advancement. Feasibility and permitting are currently underway.
     
  16. mickymoose99

    mickymoose99 Member

    Joined:
    Nov 24, 2009
    Messages:
    310
    Likes Received:
    0
    Occupation:
    Investor
    Location:
    Red Bank N.J
    Red Eagle Mining (TSX:RD) Continues to Advance the San Ramon Gold Deposit in the Thir

    Red Eagle Mining (TSX:RD) Continues to Advance the San Ramon Gold Deposit in the Third Quarter




    VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 3, 2013) - Red Eagle Mining Corporation (TSX VENTURE:RD)(OTCQX:RDEMF) is pleased to announce financial results for the third quarter ending September 30, 2013 and business highlights to date, including advancements at Red Eagle Mining's San Ramon Gold Deposit in Antioquia, Colombia.

    Third quarter highlights and significant subsequent events:
    •Completion and filing of the NI 43-101 Technical Report pertaining to the positive Preliminary Economic Assessment ("PEA") for the San Ramon Gold Deposit (please see Red Eagle Mining's news release dated September 19, 2013). Highlights include (all amounts in US$):

    ◦Assuming a long-term forecast gold price of $1,300/ounce: pre-tax estimated Net Present Value (5%) is $152 million, Internal Rate of Return is 47%, payback is 1.4 years and average cash costs are $540/ounce;


    ◦Project capital costs of $73 million plus $11 million contingency and $7 million of recoverable VAT; and


    ◦Year one production of 87,000 ounces of gold at a fully diluted grade of 8.1 grams gold per tonne and post-tax cash flow of $61 million.




    Table 1 - Summary of San Ramon Economic Results
    $1,300/Ounce Gold Pre-Tax Post-Tax
    Net Cash Flow $ 211 million $ 159 million
    Net Present Value (5%) $ 152 million $ 113 million
    Internal Rate of Return 47 % 37 %
    Payback 1.4 years 1.7 years



    Table 2 - Summary of San Ramon Key PEA Data
    Average Annual Production 51,000 oz/year
    Processing Rate 1,000 tonnes/day
    Life of Mine ("LOM") 10 years
    Initial Capex (incl. $11M contingency) $84 million
    Cash Costs $540/ounce or $76/tonne
    Years 1-5 Fully Diluted Processed Grade 5.38 grams gold per tonne
    LOM Fully Diluted Processed Grade 4.76 grams gold per tonne
    CIL Gold Recovery 93 %
    •Submission of the mining technical work plan ("PTO") for the San Ramon Gold Deposit to the Secretary of Mines of Antioquia;


    •Reported mapping, soil sampling and rock channel sampling at the Pavo Real Gold Project have identified a new area of mineralisation. Highlights include 33.7 grams gold per tonne, greater than 100 grams silver per tonne, 0.23% copper and 0.23% zinc over 0.50 metres. This most recent rock channel sampling programme was carried out in an area of high-level vein and hydrothermal breccia mineralisation associated with dykes of rhyodacite porphyry, where MMI soil sampling returned strong coincident Au, Ag and Cu anomalies (please see Red Eagle Mining's news release dated October 8, 2013);


    •Appian Natural Resources Fund LP ("Appian") acquired an additional 3,535,000 common shares of Red Eagle Mining in the market. This acquisition increased Appian's stake to 8,989,545 shares representing approximately 15.3% of Red Eagle Mining (please see Red Eagle Mining's news release dated September 4, 2013);


    •Acceptance as a Tier 1 issuer on the TSX Venture Exchange (please see Red Eagle Mining's news release dated August 6, 2013);


    •The successful conversion of an 8,590 hectare application adjacent to the north of the San Ramon Gold Deposit from an application to a concession contract and


    •The successful application for an additional 1,809 hectares adjacent to the north of the existing holdings at the Santa Rosa Gold Project along the mineralised trend and an additional 8,800 hectares within the Pavo Real Gold Project.



    Work programme update:

    Red Eagle Mining's work programme for 2014 includes:
    •Completion of a comprehensive feasibility level metallurgical programme with respect to higher grade ores commensurate with underground mining;


    •Permitting including filing the Environment Impact Assessment (currently being prepared by Tetra Tech, Inc.) with Corantioquia (environmental agency). This is the final stage in the permitting process;


    •Preparation of a Definitive Feasibility Study; and


    •Exploration of the remainder of the 320 km² Santa Rosa Gold Project, including testing with core drilling of a number of highly prospective targets identified to date.



    Selected financial data:

    The following selected financial data is derived from our unaudited interim condensed consolidated financial statements for the nine month period ended September 30, 2013, as prepared in accordance with International Financial Reporting Standards (all amounts in CDN$).

    For the three months ended For the nine months ended
    September 30, 2013 September 30, 2012 September 30, 2013 September 30, 2012
    Net loss for the period $ 2,042,632 $ 2,079,607 $ 9,171,355 $ 8,398,972
    Comprehensive loss for the period 2,075,283 2,188,116 9,227,118 8,443,153
    Basic and diluted loss per share 0.03 0.06 0.16 0.22

    As at September 30, 2013 December 31, 2012
    Cash and cash equivalents $ 6,465,419 $ 15,893,971
    Total assets 10,896,264 20,385,464
    Total liabilities 6,617,991 7,035,647
    Shareholders' equity 4,278,273 13,349,817
    Cumulative exploration expense 25,107,897 17,526,147

    For the three and nine month period ended September 30, 2013 Red Eagle Mining reported a net loss of $2.0 million and $9.2 million respectively, compared to net losses of $2.1 million and $8.4 million for the three and nine months ended September 30, 2012. The most significant contributions to the loss for the three and nine months ended September 30, 2013 was the cost of ongoing exploration of $1.8 million and $7.6 million respectively (2012: $1.6 million and $7.1 million).

    This press release should be read in conjunction with the unaudited interim condensed consolidated financial statements and Management's Discussion and Analysis for the three and nine months ended September 30, 2013. These documents can be found on Red Eagle Mining's website or profile at www.sedar.com.

    The PEA was prepared by Mine Development Associates in accordance with the definitions in Canadian National Instrument 43-101 ("NI 43-101"). The PEA is considered preliminary in nature. It includes Inferred mineral resources that are considered too speculative to have the economic considerations applied that would enable classification as mineral reserves. There is no certainty that the conclusions within the PEA will be realised. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

    The technical information contained in this news release has been reviewed and approved by Red Eagle Mining's Vice President of Exploration, Jeff Toohey P.Eng., who is a Qualified Person as defined under NI 43-101.
     
  17. mickymoose99

    mickymoose99 Member

    Joined:
    Nov 24, 2009
    Messages:
    310
    Likes Received:
    0
    Occupation:
    Investor
    Location:
    Red Bank N.J
    Red Eagle Mining (TSX VENTURE:RD) Completes $4,166,666 Financing

    Red Eagle Mining (TSX VENTURE:RD) Completes $4,166,666 Financing



    VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 23, 2013) - Red Eagle Mining Corporation (TSX VENTURE:RD) (OTCQX:RDEMF) is pleased to announce that Liberty Metals & Mining Holdings LLC ("LMM"), a subsidiary of Liberty Mutual Insurance, has completed the purchase of a 1% net smelter royalty (the "Royalty") on a portion of Red Eagle Mining's Santa Rosa Gold Project for $4,166,666. This is in addition to the 2% net smelter royalty purchased by LMM on October 22, 2012 on the same mineral Concessions. For a period of two years from the date of first gold production, Red Eagle Mining may repurchase 1% of the Royalty for $8,333,333. The Royalty does not apply to the mineral Concessions acquired from Grupo de Bullet on October 25, 2012 for a 1.5% net smelter royalty on those particular Concessions.

    Separately, Mr. Noel Dunn has stepped down as a director of Red Eagle Mining following his departure from LMM. Mr. Dunn joined the Red Eagle Mining Board as LMM's nominee director in connection with LMM's acquisition of a 19.9% interest in Red Eagle Mining on October 22, 2012. LMM will nominate a replacement in due course. Red Eagle Mining's Board would like to thank Mr. Dunn for his contribution over the past year and wish him all the best with his future endeavours.
     
  18. mickymoose99

    mickymoose99 Member

    Joined:
    Nov 24, 2009
    Messages:
    310
    Likes Received:
    0
    Occupation:
    Investor
    Location:
    Red Bank N.J
    Red Eagle Mining (RD.v) Takes Centre Stage In Colorado With 52% Feasibility Study IRR

    Red Eagle Mining (RD.v) Takes Centre Stage In Colorado With 52% Feasibility Study IRR


    The gold mining industry has a big week ahead of it—two of its most important conferences will be held in Colorado. From September 14 to 17, the main event is the Denver Gold Forum, which will host the world’s largest precious metals miners, developers, and investors. The Precious Metals Summit, to be held in Vail from September 10 to 12, will focus on earlier stage gold miners.

    Red Eagle Mining (RD.v), a Vancouver based firm which owns the Santa Rosa gold project in Colombia, will be presenting at both conferences. They have much to discuss with investors in the audience. A small-ish company, worth about $21 million, Red Eagle has its sights set on cash flowing roughly $50 million in each of 2016 and 2017 (at $1,300/oz gold).

    Read the entire article http://ow.ly/BirP7
     
Loading...

Share This Page