Revett Minerals Inc., is pleased to provide an update on underground activities at its Troy Mine in northwest Montana.
Following the suspension of underground operations in mid December 2012, Revett has continued to conduct monitoring and development work at the Troy Mine in preparation for the resumption of mining and production activities. As recently announced, underground inspections identified groundfall that has impeded the travel-way along the upper haulage route, but has not impacted or damaged the main mechanical and equipment areas, such as the underground crusher or conveyor systems.
Crews have now completed a development drift into the mine's lower haulage route, providing access for inspection in the Lower Quartzite which ultimately connects to the A and C Bed mining areas. We are pleased with the initial assessment which found limited groundfall at the B Fault area. Also, inspection from the South Adit found no damage in the East Ore Body Upper Quartzite and Middle Quartzite mine workings to date. Based on this information, the Company is working on a revised plan to submit to MSHA which would enable us to complete development work for accessing the A and C Beds; this will include re-routing of utilities to re-establish full mine ventilation and a secondary escapeway.
We remain focused on resuming safe mining operations as soon as possible. The target date to resume operations remains April 2013; however, the ongoing review and approval process in conjunction with ongoing work to reinforce and support ground conditions in the B Fault will determine the actual time-line.
John Shanahan, Revett's President and CEO stated "We continue to be encouraged by the structural conditions of the Lower Quartzite and feel there is an achievable path forward to return to production. The Company has the financial resources and experienced crews in place to succeed in this effort. Although the disruption has been challenging, we remain focused on our ability to be the safest and best operator we can be at Troy and to bring the Rock Creek project to fruition."