May 24 2013
Revett Minerals Inc. (“Revett” or the “Company”) provides an update on efforts to re-establish access to mining areas and along the Lower Quartzite haulage route at its Troy Mine in northwest Montana.
Underground development work has continued since access to the Troy Mine was re-established earlier this year. As part of the planned development, crews have been focusing on two separate drifts (“A Drive” and “D Drive”) to regain access to the Lower Quartzite haulage route. After completing the installation of steel sets and structural reinforcement through the B Fault at the “A Drive” drift, unexpected structural damage and ground fall was discovered. Crews are now continuing their work and focusing their efforts in the “D Drive” located approximately 300 feet east of the “A Drive”. Development of the 85 foot “D Drive” into the Lower Quartzite is estimated to take approximately 8 more weeks. Once the “D Drive” drift is completed, a full inspection and assessment of the Lower Quartzite Ore Body must still be completed to ensure that no further structural damage is evident and that mining operations can be safely re-established along this route.
Given the unexpected discovery of ground fall in the Lower Quartzite south of the B Fault in the “A Drive” and length of time required for alternative development into this area, the Company has announced an immediate and significant reduction in the workforce at its Troy Mine.
Remaining crews over the next few months will focus on development of the Lower Quartzite drift along the “D Drive”. If access can be safely re-established, mining operations into the A and C Beds could possibly resume in the fourth quarter of this year. In the event that access through the “D Drive” into the Lower Quartzite haulage route is not possible, the Company is currently evaluating alternative development plans in order to access established mining reserves in the A, C and I Bed mining areas.
John Shanahan, Revett’s President and CEO stated “We have kept our experienced and skilled crews busy in recent months with maintenance and capital projects. However, the realization that the recommencement of nderground mining operations will not resume by the end of the second quarter as planned has forced us to take difficult cost reduction measures. I would like to thank our crews for their patience and dedication, and want them to know that the successes at the Troy Mine in the past four years are due in large part to their efforts. We firmly believe the Troy Mine remains a viable operation and that we will regain access to our reserve mining areas and be back in operation either through the Lower Quartzite “D Drive” or alternative development plans.
Source: http://www.revettminerals.com/