NICOSIA, Cyprus, Feb. 18, 2013 /CNW/ - EMED Mining Public Limited (the "Company" or "EMED Mining"), the Europe-based minerals development and exploration company, is pleased to announce that independent technical expert Behre Dolbear has completed an updated NI 43-101 Technical Report on the Company's Rio Tinto Copper Project.
The report entitled "NI 43-101 Technical Report on EMED's Rio Tinto Copper Project, Huelva Province, Spain dated February 15, 2013" (the "NI 43-101 Report") endorsed the Company's planned base case annual production of existing ore reserves at 9.0Mtpa over 14 years from the Cerro Colorado deposit, being the first mine EMED Mining plans to bring into production. Behre Dolbear also noted that there is exploration potential peripheral to the Cerro Colorado deposit which is open to the east and at depth. This potentially provides scope to grow the resource and expand operations including the development of other mines within the existing permit areas.
Behre Dolbear supports the decision that the Company proceed with the restart of the Rio Tinto Copper Project as soon as the requisite project approvals, permits and project financing have been secured on the basis that in their view the project is viable and appears to be robust and well analysed in geological, engineering and financial terms.
Harry Anagnostaras Adams, Managing Director of EMED Mining, commented: "The updated NI 43-101 is another important step in our move towards production. We are excited about re-establishing Rio Tinto as a mining field with initial production to commence at Cerro Colorado. There is huge scope to create a large scale operation and we are delighted that this independent technical report has validated our plans."
The scientific and technical information in this press release has been reviewed and approved by R. Cunneen, Group Exploration Manager, who is a "qualified person" within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
SOURCE EMED MINING PUBLIC LIMITED