SPOKANE VALLEY, Wash., March 2, 2015 (GLOBE NEWSWIRE) -- Revett Mining Company, Inc. (NYSE MKT:RVM) (TSX:RVM) today announced that the transition to care and maintenance at the Troy Mine was successfully completed during February 2015.
Mining operations ceased at the end of January 2015 and an orderly shutdown of milling operations and transition to care and maintenance occurred during February, 2015. Total production since resuming limited milling operations in mid-November 2014 yielded 624 dry tons of concentrates containing 79,116 ounces of silver and 340,456 pounds of copper. A qualified care and maintenance team consisting of eight Troy Mine employees is now in place. The Troy Mine continues to report a strong safety record while winding down operations and transitioning to care and maintenance having now completed nearly two and a half years without a lost time accident or reportable injury.
The Company remains focused on the advancement and completion of permitting the Rock Creek project. The U.S. Forest Service has circulated the Draft Supplemental Environmental Impact Statement (SEIS) to co-operating agencies for review and expects that the SEIS will be issued in the second quarter of this year for public comment.
John Shanahan, Revett's President and CEO stated "Despite the difficult decision to place the Troy Mine on care and maintenance, we remain ever grateful for the professional manner in which operations at the Troy Mine were wound down. Our experiences at the Troy Mine, both during operations and care and maintenance periods, remain an important component in our ability to complete permitting and bring the world class Rock Creek project to fruition."
Revett Mining Company, through its subsidiaries, owns and operates the Troy Mine which is on care and maintenance in Lincoln County, Montana and the permitting -stage Rock Creek Project located in Sanders County, Montana, USA. The 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.
President and Chief Executive Officer
For more information, please contact:
Monique Hayes, Corporate Secretary/Director Investor Relations at (509) 921-2294 or visit our website at www.revettmining.com.
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 our expectation that the SEIS will be issued in the second quarter of this year for public comment. 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 Company's Form 10-K filed on March 27, 2014 with the Securities and Exchange Commission (SEC) and also filed on SEDAR at www.sedar.com. 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.
11115 East Montgomery, Suite G, Spokane Valley, WA 99206
509-921-2294 fax 509-891-8901
Source:Revett Minerals Inc.