Red Back Mining Inc. (the "Company" or "Red Back") (TSX:RBI) is pleased to announce the discovery of a new zone of mineralization at its Tasiast Gold Mine in Mauritania.
Drilling in the area of the current West Branch deposit has identified a new zone of mineralization located in the hanging wall felsic unit, previously considered to be barren ("the Felsite Zone").
First pass drilling on the Felsite Zone has delineated a strong mineralized structure over a strike length of 350m and to a vertical depth of up to 180m. The Zone is open in all directions and drilling is ongoing.
The Felsite Zone was discovered as part of an in-fill drill program designed to convert resources into proven and probable reserves at West Branch and is outside the current Tasiast resource. Since discovery the Company has intersected the Felsite Zone in 30 drill holes. Significant results to date are reported below:
Felsite Zone Results
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Hole Id From To Width (m) Grade (Au g/t) Including
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TA01326RC 112 120 8 1.13
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123 134 11 2.10
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TA01270RC 88 97 9 1.34
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101 107 6 1.11
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TA01219RC 47 60 13 4.10
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TA01247RC 82 116 34 2.31
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TA01328RC 106 142 36 1.91 incl 12m at 3.39
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TA01002RC 64 101 37 3.43 incl 14m at 5.76
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TA01271RC 105 143 38 2.46 incl 21m at 3.51
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TA01330RC 129 186 57 1.88
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TA01315RC 72 110 38 3.26 incl 17m at 4.30
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TA01333RC 114 152 38 2.76 incl 20m at 3.89
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TA01332RC 36 69 33 4.13 incl 18m at 5.74
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TA01246RC 61 96 35 2.70 incl 19m at 3.52
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TA01331RC 108 148 40 2.06 incl 14m at 3.15
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TA01224RC 32 48 16 6.55
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TA01316RC 79 116 37 2.93 incl 15m at 5.14
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TA01334RC 114 151 37 3.00 incl 22m at 3.75
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TA01338RC 65 86 21 1.50
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TA01272RC 83 116 35 2.29 incl 18m at 3.22
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TA01335RC 124 159 35 2.04 incl 12m at 3.58
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TA01337RC 162 206 44 2.54 incl 17m at 3.55
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TA01317RC 75 91 16 1.13
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96 124 28 1.26
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TA01336RC 119 162 43 2.24 incl 14m at 4.31
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TA01318RC 80 92 12 1.02
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97 105 8 1.53
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124 144 20 1.66
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TA01274RC 76 87 11 1.20
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96 103 7 1.45
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TA01244RC 73 93 20 2.10
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TA01320RC 50 71 21 1.25
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94 115 21 1.93
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Note: High grade assays cut to 20g/t
Intercepts represent +95% of true width
Commenting on the Felsite zone discovery, Richard Clark, President and CEO of the Company stated: "We are very excited by this new discovery. The scope of the Tasiast Project continues to expand at a rapid pace. The Felsite Zone is a new unit of mineralization and is outside the current resource at Tasiast. A drill program has commenced to expand the Zone at depth and along strike. At the same time we have started a regional program of exploration around the Tasiast Mine targeting additional higher grade feed for the CIL Plant and lower grade mineralization for our Dump Leach operation. We look forward to reporting on these programs over the coming months."
The technical contents of this release have been reviewed by Hugh Stuart, BSc., MSc, a Qualified Person pursuant to NI-43101. Mr. Stuart is the VP - Exploration of the Company and a Member of the Australasian Institute of Mining and Metallurgy. Samples are prepared and analyzed by fire assay using a 50 gram charge at the SGS facility at the Tasiast mine site in compliance with industry standards. Field duplicate samples are taken and blanks and standards are added to every batch submitted. Selected samples from this lab are check assayed each month at other SGS laboratories worldwide.
About Red Back
Red Back Mining Inc. is an unhedged African focused gold producer. It owns and operates the Chirano Gold Mine in Ghana (90% interest) and the Tasiast Gold Mine in Mauritania (100% owned). Major plant expansions at both Chirano and Tasiast are well advanced with commissioning underway. Aggressive exploration programs aimed at increasing the Company's resource and reserve base at both Chirano and Tasiast is continuing.
This News Release contains forward looking statements which are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward looking statements. The Company does not intend to update this information and disclaims any legal liability to the contrary.
On behalf of the Board of Directors:
Richard P. Clark, President
SOURCE: Red Back Mining Inc.
Red Back Mining Inc. Simon Jackson VP-Corporate Development 604-689-7842 Red Back Mining Inc. Sophia Shane Investor Relations 604-689-7842 www.redbackmining.com