Business
Red Eagle Mining Reports Q3 2017 Financial Results
Red Eagle Mining Reports Q3 2017 Financial Results.
About this update from Red Eagle Mining Corp
[{"type":"text","content":"\n\n VANCOUVER, British Columbia, Nov. 15, 2017 (GLOBE NEWSWIRE) -- Red Eagle Mining Corporation (TSX:R) (BVL:R) (OTCQX:RDEMF) is pleased to announce financial results for the three and nine months ending September 30, 2017 and business highlights to date including:\n New discovery announced at the San Marcos Zone at Red Eagle Mining’s controlled public subsidiary Red Eagle Exploration Limited’s California Gold Project (news release dated November 14, 2017).  Mineralization has been mapped and sampled underground in multiple locations over a strike length of 750 metres and vertical distance of 350 metres.  Highlights included 24.04 g/t Aueq over 0.60 metres, 136.11 g/t Aueq over 0.20 metres, 16.13 g/t Aueq over 1.30 metres, 15.29 g/t Aueq over 1.00 metres and 34.13 g/t Aueq over 0.50 metres; New discoveries announced at the Los Andes Zone at Red Eagle Mining’s controlled public subsidiary Red Eagle Exploration Limited’s California Gold Project (news release dated September 26, 2017).  Samples averaged 25.32 g/t Aueq over 0.39 meters at Mina Los Andes and 8.37 g/t Au, 1,081 g/t Ag (22.38 g/t Aueq) and 0.88% Cu over 0.85 meters at Los Andes Sur; Continued success with the underground delineation drilling program at the San Ramon Mine which continues to exceed expectations with many intercept grades significantly higher than the reserve grade of 5.2 g/t Au (news releases dated  August 1, 2017 and September 18, 2017); Greenfields exploration discovery of multiple parallel high-grade veins at the Santa Rosa Gold Project within five kilometres from the completed Santa Rosa mill (news release dated July 10, 2017); Initial sampling announced from the Machuca Zone at Red Eagle Mining’s controlled public subsidiary Red Eagle Exploration Limited’s California Gold Project (news release dated June 28, 2017).  Sampling encountered a higher grade mineralized zone with a total strike length of 45 metres which is open in all directions.  The average composite grades along the two metre width of the drift were 9.8 g/t Au and 221.1 g/t Ag; Closed C $30 million rights offering to fund the add-on backfill plant and to provide working capital before gold production resumes.  Monthly repayment of the credit facility deferred until April 1, 2018  (news ...