TORONTO, June 21, 2012 /CNW/ - Red Tiger Mining Inc., (TSXV-RMN), (the "Company" or "Red Tiger") is pleased to announce that since
start-up one month ago, the solvent extraction and electro-winning
plant at its wholly owned Luz del Cobre copper project (Sonora, Mexico)
has been in continuous operation, producing high purity copper. The
current average daily production has been 15 tonnes (or 33,000 pounds
per day) of Comex Grade 1 copper cathodes, and from the date of the
first cathodes stripped on May 19 to date, 483 tonnes of copper has
Open pit mining, crushing, conveying and stacking of copper ore
continues without unscheduled interruptions at a daily average rate of
between 2,700 and 3,200 tonnes. To date, 390,000 tonnes of crushed ore
with an average grade of 0.70%Cu have been stacked in a specially
constructed, V-shaped valley leach area. The surface area for
irrigation with leach solution is increasing which, combined with the
recent stacking of 23,000 tonnes of high grade ore is expected to lead
to an increase of average daily copper production to the designed 20
tonnes of copper per day during the third quarter of this year.
Luz del Cobre is a near surface blanket-type oxidized copper deposit
with measured resources of 2,041,000 million tonnes at 1.3% copper and
indicated resources of 2,521,000 million tonnes at 0.91% copper (NI
43-101 feasibility study filed October 2006, with a resource update
filed June 2009). The mineralization is open on at least two sides. The
planned production is an average of 15 million pounds of copper per
year over the first 6 years.
Thomas F. Utter, Dipl.-Geol, Dr.phil.nat., (Eurogeologist) acted as
Qualified Person, as defined in NI 43-101,with respect to the
disclosure of the scientific and technical information contained in
this news release.
Red Tiger is listed on the TSX Venture Exchange (symbol "RMN"). Common
shares outstanding 69,193,537. The Annual Meeting of Shareholders will
be held June 25, 2012 at 10:00 am: Conference Rooms "C and D", Second
Floor, 20 Toronto Street, Toronto, Ontario, Canada.
This News Release contains forward-looking statements which are
typically preceded by, followed by or including the words "believes",
"expects", "anticipates", "estimates", "intends", "plans" or similar
expressions. Forward-looking statements are not guarantees of future
performance as they involve risks, uncertainties and assumptions.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Red Tiger Mining Inc.
For further information:
Red Tiger Mining Inc.
20 Toronto Street, 12th Floor, Toronto ON, M5C 288, Canada
Fax: 416 367 3638
Dr. Thomas Utter
President and CEO
Tel.: +1 526623118839
Frank van de Water
CFO and Secretary
Tel.: 416 869 0772