TORONTO, July 18, 2012 /CNW/ - Red Tiger Mining Inc., (TSXV-RMN), today reported that an unprecedented rain storm at the Luz del Cobre
copper project site in Sonora, Mexico on July 16 caused some erosion of
the stacked ore on the leach pad and some damage to the pipeline to the
solvent extraction plant and irrigation lines on the leach pad itself.
In three hours, 128 mm of rain was recorded, compared to a normal
average rainfall of 160 mm for the entire month of July.
Leach solution from the pad was contained in the pregnant leach solution
pond, supported by the overflow pond. There was no leakage to the
environment, and there was no damage to the open-pit mine or buildings
and equipment on site.
Work has started on the pipeline inspection before it is tested and put
back into the recycling process between the leach pad and the solvent
extraction plant. Crushing and stacking to fill erosion channels and
areas where there were partial collapses of ore lifts is expected to
commence within two weeks.
The effect of the rainstorm will be to reduce production for several
Red Tiger is listed on the TSX Venture Exchange (symbol "RMN"). Common
shares outstanding 69,193,537.
Neither the 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.
This news release contains forward-looking statements, which are subject
to risks and uncertainties and other factors that may cause results to
differ materially from expectations. Specifically, this news release
contains forward-looking information regarding the carrying out of the
Offering and the expected terms relating thereto, and the approval of
the Offering by the TSXV. Accordingly, readers are cautioned not to
place undue reliance on this forward-looking information. The Company
does not assume the obligation to revise or update this forward-looking
information after the date of this news release or to revise such
information to reflect the occurrence of future unanticipated events,
except as may be required under applicable securities laws.
SOURCE Red Tiger Mining Inc.
For further information:
Red Tiger Mining Inc.
20 Toronto Street, 12th Floor, Toronto ON, M5C 2B8, Canada
Fax: 416 367 3638
Dr. Thomas Utter
President and CEO
Tel.: +1 52 662 311 8839
Frank van de Water
CFO and Secretary
Tel.: 416 869 0772