Red Eagle Mining (R.TO) has re-started the Santa Rosa mill at the beginning of this month, as the company felt comfortable with the size of its stockpile. The development of the underground San Ramon mine is still ongoing with a total of almost 5,300 meters having been completed in 2017 which resulted in the completion of 18 working attack ramps.
Of these 18 ramps, 12 are in production (resulting in 31 active production faces), which resulted in a total of 8,371 tonnes being mined in December (the Q3 ore production was lower than expected due to issues with the scoops) at an average grade of 4.2 g/t. This brought the total size of the stockpile to 18,830 tonnes at 5.6 g/t gold, providing the mill with enough ore for at least 30 days.
The worst appears to be over for Red Eagle Mining, and 2018 will be pivotal in gaining back the trust from its shareholders. We are also expecting Red Eagle Exploration (XR.V) to be busier this year, as the ‘exploration division’ of Red Eagle Mining will be keen on advancing the three exciting exploration assets.
Go to Red Eagle Mining’s website
The author has a long position in Red Eagle Exploration. Red Eagle Exploration is a sponsor of the website. Please read the disclaimer
