TORONTO, Aug. 20, 2012 /CNW/ - Red Tiger Mining Inc., (TSXV-RMN), today reported that crushing and stacking of acid cured ore and irrigation of the leach pad at the Luz del Cobre copper project site in Sonora, Mexico has resumed. Production for the short period to August 31 is estimated at 90 tonnes of copper cathodes, is expected to accelerate to the previous level of production by the end of September, and in the fourth quarter of the year reach the designed copper recovery capacity of the plant of 20 tonnes per day.
As reported in the news release on July 18, a storm and unprecedented rainfall stopped all production on July 17, with broken irrigation lines and damage to the stacked ore on the leach pad including erosion channels and voids caused by the rain and run-off water entering the leach pad area. There was a partial collapse of the ore lifts and a slide of some stacked ore down toward the pregnant leach solution pond, which filled with diluted leach solution, but there was no damage to the equipment or buildings at the minesite.
During the production stoppage, mining operations continued with newly crushed ore filling the erosion channels and voids on the pad in preparation for laying new drip lines in order to restart the irrigation process. Mining operations are proceeding according to plan, concentrating on increasing the grade of ore stacked and expanding the total area under irrigation on the pad as quickly as possible.
The report to shareholders for the quarter ended June 30, 2012 will include more information on July and August operations and will be available before month end.
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 typically preceded by words such as "expects", "believes", "estimates" and are subject to risks and uncertainties and other factors that may cause results to differ materially from expectations. 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:
Dr. Thomas Utter
President and CEO
Tel.: +1 52 662 311 8839
Frank van de Water
CFO and Secretary
Tel.: 416 869 0772