RE:company presentation updateThanks Platin, presentation is excellent as always.. Construction was 87% complete as of July 31/2016.
If anyone gets a chance, look at the construction photos on their website. They are extensive and impressive. I have been in construction all my life (now retired) and what I see is
"first class, top quality construction" There has been no cutting corners anywhere,
Now lets talks about grade, the Feasibility Study (2014) had proven and probable grade of
5.2g/t. Latest drilling is providing grade 2x the FS. RD should be producing much more than the 70,000 oz/yr predicted. Maybe 125 - 150k oz and if and when they upgrade the mill as it is designed for, we could be up to 250k oz within a couple of years... Market Cap then should be about 5 - 10 times the present mc depending upon the price of gold..
2.8 Metres at 30 Grams Gold Per Tonne Intercepted
June 1, 2016 – Red Eagle Mining Corporation (TSX-V: RD, OTCQX: RDEMF, SSE-V: RDCL) is pleased to announce that detailed ore production stope delineation drilling has commenced at the San Ramon Gold Mine, Santa Rosa Gold Project, Antioquia, Colombia and will continue for the life of the mine. Highlights from the first four holes (SRD-0001 to SRD-0005) include intercepts:
- SRD-0003 - 4.00m at 10.68 g/t Au from 60.70m down hole (incl. 1.10m at 27.38 g/t Au)
- SRD-0004 - 7.80m at 12.79 g/t Au from 71.40m down hole (incl. 2.80m at 30.44 g/t Au)
- SRD-0005 - 8.15m at 5.71 g/t Au from 96.20m down hole (incl. 1.60m at 15.65 g/t Au)
“The initial results from the in-fill drill programme have exceeded our expectations with intercepts significantly longer than our average mining width of 3.00m and grades significantly higher than our reserve grade of 5.20 g/t Au”, comments Bob Bell, Chief Operating Officer.