Revett Provides Update on Troy Mine Development and Rock Creek Permitting
01 Luglio 2014 - 4:51PM
Marketwired
Revett Provides Update on Troy Mine Development and Rock Creek
Permitting
SPOKANE VALLEY, WASHINGTON--(Marketwired - Jul 1, 2014) - Revett
Mining Company, Inc. (NYSEMKT:RVM)(TSX:RVM) is pleased to provide
an update on development at its Troy Mine and permitting for the
Rock Creek project in northwest Montana.
Troy Mine I Bed Development
The Company continues to advance the I Bed development having
completed development through the dominant splay off the B Fault
and the main B Fault on the east decline. As of June 30th 2014, the
Company has completed approximately 4,700 feet against the 7,500
feet required for planned development of the North C Bed. The
project remains on schedule and within budget for development of
the North C Beds in the third quarter of this year with a return to
limited commercial production in the fourth quarter of 2014. Access
to the I Beds requires an additional 5,900 feet of single decline.
If development continues as planned, it is estimated full
production may resume by mid-2015.
A concrete batch plant was recently acquired to facilitate
more-efficient, on-demand "shotcrete" for ongoing development and
future production needs. The plant will ensure that shotcrete is
available when needed for day and evening shifts.
Rock Creek Permitting
The U.S. Forest Service (USFS), as lead agency, has made
considerable progress towards the completion of a Supplemental
Environmental Impact Statement (SEIS). The Company meets on a
regular basis with the USFS, its third-party contractor, and
cooperating agencies. When issued, the SEIS, together with the
Biological Opinion that was upheld by the Ninth Circuit Court of
Appeals in November 2011, will form the basis of a reissued Record
of Decision (ROD). Once a draft SEIS has been compiled, input from
co-operating agencies will be sought and included, and an SEIS will
be issued for public comment.
In parallel, the Company is working to obtain necessary permits
from the State of Montana Department of Environmental Quality
(MDEQ). On April 11, 2014 the MDEQ issued a draft permit to the
Company for the discharge of stormwater during Phase I construction
activities with the public comment period ending on May 15, 2014.
The Company has also been working with a contracted technical
consultant and MDEQ on the finalization of an Air Quality
Permit.
John Shanahan, Revett's President and CEO stated, "We remain
fully focused on returning the Troy Mine to producing capability
and completing the SEIS and ancillary state permits for Rock Creek
as quickly as practicable. We understand that each project must be
completed to the highest standards possible and we remain committed
to meeting this objective."
About Revett
Revett Mining Company, through its subsidiaries, owns and
operates the Troy Mine in Lincoln County, Montana and
development-stage Rock Creek Project located in Sanders County,
Montana, USA. The proven reserves at the Troy Mine and significant
resources at the Rock Creek project form the basis of Revett's plan
to become a premier mid-tier base and precious metals producer.
John Shanahan, President and Chief Executive Officer
Except for the statements of historical fact contained herein,
the information presented in this news 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 "plans", "expects", or "does not expect", "is
expected", "is not expected", "budget", "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 be taken", "occur" or "be achieved". Forward-looking
statements contained in this news release include but are not
limited to those relating to our ability to develop the I Bed
deposit at Troy including having the financial capability to do so,
and the possibility of resuming limited production in the fourth
quarter of 2014 and full production by mid-215, as well as our
ability to achieve Record of Decision, storm water discharge and
Air Quality permitting for the Rock Creek project. Forward looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by management, are
inherently subject to significant business and economic
uncertainties, risks and contingencies and those factors discussed
in the section entitled "Risk Factors" in the Form 10-K filed on
SEDAR at www.sedar.com 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 Mining Company does not undertake to update any
forward-looking statements except as required by applicable
securities laws.
Revett Mining Company, Inc.Ken EickermanChief Financial
Officer(509) 921-2294Revett Mining Company, Inc.Monique
HayesCorporate Secretary/Director Investor Relations(509)
921-2294www.revettmining.com
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