VANCOUVER, British Columbia, Jan. 10, 2018 (GLOBE NEWSWIRE) -- Red Eagle Mining Corporation (TSX:R) (BVL:R) (OTCQX:RDEMF) is pleased to provide an update on operations at the Santa Rosa Gold Project, Antioquia, Colombia. The mill successfully started-up on January 2, 2018 as planned and has been operating continuously at greater than 750 tonnes per day.
Underground development at the San Ramon Gold Mine continues to advance according to plan with 412 metres in December and 5,288 metres completed year-to-date. Development during December was primarily focused on secondary access ramps and attack ramps on levels -100, -125 and -150 metres, measured from surface.
San Ramon currently has eighteen working attack ramps, with twelve in production (31 active production faces), two crossing the shear zone and ready for production, two in breasting following backfilling and two in development. Stope mining operations continued to ramp up in December with 8,371 tonnes at 4.2 grams per tonne gold mined and stockpiled during the month, and 18,830 tonnes at 5.6 grams per tonne gold stockpiled in total. During the fourth quarter ramp-up ore production tonnage was 10% lower than plan due to scoop availability. The existing scoops have been repaired and new scoops are due for delivery through January and February.
About Red Eagle Mining
Red Eagle Mining is a gold producer focused on building shareholder value through acquiring, developing and operating gold and silver projects in Colombia, a jurisdiction with prolific historic production but until recently limited modern exploration. Red Eagle Mining owns 100% of the Santa Rosa Gold Project and controls Red Eagle Exploration which owns 100% of the Vetas Gold, California Gold and Santa Ana Silver Projects.
For further information on Red Eagle Mining please contact:
Patrick Balit
Vice President Corporate Development
Red Eagle Mining Corporation
Suite 2348 – 666 Burrard Street
Vancouver, BC, V6C 2X8
+1 778 372 2558
+1 604 360 5722 mobile
balit@redeaglemining.com
www.redeaglemining.com
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although Red Eagle Mining believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements. This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.