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6 Metre Wide Vein At 9 Grams Gold Per Tonne Cut At Pavo Real
Vancouver, BC, January 14, 2014 - Red Eagle Mining Corporation (TSX-V:RD, OTCQX:RDEMF) is pleased to announce additional results of an ongoing surface rock channel sampling programme at the Pavo Real Gold Project located in Colombia. Highlights include 9.03 grams gold per tonne and 72.4 grams silver per tonne over 6.1 metres and 19.87 grams gold per tonne and 64.1 grams silver per tonne over 1.2 metres cross-cutting separate veins and are presented in Table 1 below.
Table 1 - Highlights of Pavo Real Rock Channel Sampling Results
|Description||Width (m)||Au (g/t)||Ag (g/t)|
|Vein/Breccia and Rhyodacite Porphyry||1.20||19.87||64.1|
Current rock channel sampling is focused on an area of vein and hydrothermal breccia mineralisation related to dykes of rhyodacite porphyry, where previously conducted MMI soil sampling returned strong coincident gold, silver and copper anomalies. Due to accessibility, samples have been confined to outcrops exposed by streams dissecting the area. Prior channel sampling results from this target area returned up to 33.7 grams gold per tonne and >100 grams silver per tonne over 0.50 metres (news release dated October 8, 2013). This rock sampling is ongoing and forms part of a broader programme that includes property-wide reconnaissance stream sediment and soil geochemical sampling, along with prospecting, to further evaluate the potential of the large concession package and to continue identifying new targets for follow-up by ground geophysics and drilling. A trenching programme is underway along strike of the 6.1 metre wide vein.
"These latest channel sampling results from Pavo Real are very encouraging and corroborate the results of prior soil and channel sampling from this target area" comments Jeff Toohey, Vice President Exploration. "The grades and widths of mineralisation being encountered reinforce the target concept for this sector of the property and indicate that the project has potential to host high grade gold and silver deposits of significant size".
About Pavo Real
The 14,370 hectare Pavo Real Gold Project contains a large number of significant gold bearing vein and breccia targets occurring throughout the stratigraphic sequence and spread over a broad area. Pavo Real is located on the eastern flank of the Central Cordillera within the Mesozoic Ibague block of the Central Continental Sub-plate. The Ibague block is characterized by diorite to granodiorite batholiths and associated volcanic rocks emplaced within continental sedimentary sequences. Pavo Real is host to a stratigraphic sequence of Lower Triassic red bed sandstones, siltstones, conglomerates and sedimentary breccias, overlain by Upper Triassic limestones, sandstones, siltstones, and shales, in turn overlain by Upper Triassic to Lower Jurassic tuffs, agglomerates and lavas. This stratigraphic sequence is intruded by Jurassic granodiorites of the Ibague batholith and associated minor intrusions. There are numerous historic mining adits throughout the property.
The technical information contained in this news release has been reviewed and approved by Red Eagle Mining's Vice President of Exploration, Jeff Toohey P.Eng., who is a Qualified Person as defined under NI 43-101.
About Red Eagle Mining
Red Eagle Mining Corporation is a well-financed gold exploration and development company with an experienced mine-development team. Management is focused on building shareholder value through discovering and developing gold projects with low costs and low technical risks in Colombia, a jurisdiction with prolific historic production but until recently limited modern exploration. Red Eagle Mining is developing the 320 km² historic Santa Rosa Gold Project located in the Antioquia Batholith. Development will initially commence with the San Ramon deposit where a positive Preliminary Economic Assessment supports project advancement. Feasibility and permitting are currently underway.
For further information on Red Eagle Mining contact:
Chief Executive Officer
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