Revett Reports Record Q3 Production
(firmenpresse) - SPOKANE VALLEY, WASHINGTON -- (Marketwire) -- 10/18/11 -- Revett Minerals Inc. (TSX: RVM)(NYSE Amex: RVM) today announced third quarter 2011 production from its Troy Mine in northwestern Montana of 402,700 ounces of silver and over 3.28 million pounds of copper, a 45% increase in silver and 39% increase in copper over the same period last year and 18% increase in silver and 8% increase in copper from the second quarter of 2011.
John Shanahan, President and Chief Executive Officer, said, "We've seen significant improvements in mine throughput in the third quarter culminating in record tons milled and ounces of silver produced. We will continue to capitalize on our exploration and engineering efforts as we finalize our I Bed development plans for 2012 and detail our longer term exploration program in and around the Troy mine. We are extremely pleased with these results and thank the men and women of the Troy mine for their outstanding efforts."
Highlights:
Troy Mine Exploration and Development Update
Exploration and engineering efforts have resulted in preliminary design plans for development of the I Bed area which we anticipate to commence in mid to late 2012 pending approval by State and Federal agencies. The cross section shown below depicts the location of the I Bed area and the proposed access route for mine services and ore production. We expect to finalize our plans at year end once results of the ongoing drill program are available.
In addition to ongoing drilling both below and adjacent to the Troy Mine, we are in the process of re-assaying and re-logging of old core at the JF property. We are currently drilling new holes on the JF property and plan to report updated results at year end. Geophysical survey work completed south of the Troy Mine has also identified anomalous areas for future drilling.
To view Figure 1. "Troy Mine Long Section", please visit the following link:
About Revett
Revett Minerals, through its subsidiaries, owns and operates the Troy Mine and development-stage Rock Creek Project, both located in northwestern Montana, USA. These projects host significant copper and silver mineral reserves and resources and form the basis of our plan to become a solid mid-tier base and precious metals producer. Revett plans on expanding production through exploration in and around its current properties, as well as through targeted business combinations of advanced stage projects.
John Shanahan, CEO & President
Except for the statements of historical fact contained herein, the information presented in this press release may contain "forward-looking statements" within the meaning of applicable Canadian securities legislation and The Private Securities Litigation Reform Act of 1995. Generally, these forward looking statements can be identified by the use of forward-looking terminology such as "expects", or "does not expect", "is expected", "is not expected", "budget", "plans", "schedule", "estimates", "forecasts", "intends", "anticipates", "or does not anticipate" or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will", "occur" or "be achieved". Forward-looking statements contained in this press release include but are not limited to statements with respect to development of the I-Bed area mid to late 2012 and plans to report updated drilling results on the JF property at year end. Actual results and development could be affected by development risks and production risks, as well as those factors discussed in the section entitled "Risk Factors" in the Form 10-K filed on SEDAR at and with the SEC on EDGAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Revett Minerals does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
Contacts:
Revett Minerals Inc.
Monique Hayes
Corporate Secretary/Director Investor Relations
(509) 921-2294
Revett Minerals Inc.
Ken Eickerman
CFO
(509) 921-2294
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Datum: 18.10.2011 - 13:01 Uhr
Sprache: Deutsch
News-ID 77331
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contact information:
Town:
SPOKANE VALLEY, WASHINGTON
Kategorie:
Mining & Metals
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