Red Back Mining Inc.
TSX : RBI

Red Back Mining Inc.

August 31, 2009 08:54 ET

Red Back Mining Inc.: Tasiast Exploration and Operations Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 31, 2009) - Red Back Mining Inc. (the "Company" or "Red Back") (TSX:RBI) is pleased to provide an update on ongoing exploration programs and operations at its Tasiast Gold Mine in Mauritania.

Exploration

Four rigs are currently on site completing infill and extension drilling on the Piment-West Branch Resource area with a further two rigs drilling reconnaissance targets within 30km of the plant.

Drilling in the West Branch area is targeting the extension of the Felsite Zone (News Release: April 21, 2009) where results continue to demonstrate significant width and grade.

The table below shows intercepts received down dip and along strike from previously announced holes.



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Hole From To Metres Au g/t
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TA01343RC 103 176 73 1.46
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TA01344RC 121 149 28 3.57
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168 200 32 2.00
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TA01345RC 114 142 28 2.62
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TA01346RC 160 200 40 3.54
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TA01356RC 110 142 32 3.08
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TA01358RC 143 185 42 3.17
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TA01360RC 87 126 39 3.76
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TA01361RC 93 132 39 3.47
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TA01362RC 89 130 41 2.58
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TA01364RD 197.5 290.27 92.77 2.00
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TA01367RC 137 162 25 3.44
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175 200 25 2.35
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TA01382RC 166 196 30 1.28
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TA01383RC 144 177 33 1.82
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TA01384RC 151 190 39 3.04
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TA01385RC 129 170 41 1.97
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TA01387RC 136 167 31 1.66
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TA01388RC 150 171 21 1.74
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TA01392RC 137 183 46 2.04
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TA01393RC 140 181 41 2.36
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TA02002RC 153 177 24 3.60
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TA02201RC 181 231 50 2.29
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TA02202RC 185 240 55 1.78
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TA02203RC 184 229 45 2.63
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TA02204RC 196 245 49 3.04
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TA02205RC 135 222 87 2.16
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TA02206ARC 176 223 47 2.06
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TA02207RC 162 213 51 2.59
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TA02208RC 131 199 68 1.90
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TA02210RC 143 241 98 1.81
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TA02211RC 169 253 84 2.89
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incl 181 208 27 5.16
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Note: True width is approximately drilled width.


Drilling has now intersected mineralisation up to 200m south of previously reported results, extending the known strike length of the zone to 550m. Follow up on this structure continues and is yet to commence to the north.

A new resource/reserve estimate incorporating these results is being finalized and will be released in September 2009.

Operations

The Company is also pleased to report that late last week it received the final permits from the government of Mauritania for commercial dump leach operations and for the new tailings storage facility ("TSF2").

The first three dumps, which aggregate approximately 2 million tonnes of ore, are now under irrigation.

Having received the final permits for discharge into TSF2, the Tasiast plant expansion is now being ramped up to full commercial production (2.5 Mt per annum).

Commenting, Richard Clark, President and CEO, stated: "The ongoing exploration results from Tasiast continue to illustrate the tremendous potential of this Project. Tasiast remains underexplored and extremely prospective. Only a small portion of the extensive green stone belt controlled by the Company has been tested to date. We will continue to provide updates on drilling at West Branch and regionally in the coming months, as we receive results from the aggressive $13 million exploration program being executed during the second half of this year"

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 substantially complete with commissioning advanced. Aggressive exploration programs aimed at increasing the Company's resource and reserve base at both Chirano and Tasiast are ongoing.

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.

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

Contact Information

  • Red Back Mining Inc.
    Simon Jackson
    VP-Corporate Development
    604-689-7842
    or
    Red Back Mining Inc.
    Sophia Shane
    Investor Relations
    604-689-7842
    www.redbackmining.com