Red Metal Resources applies for mining permits on its 100% owned copper gold project in Chile
THUNDER BAY, ON and VALLENAR, CHILE, Oct. 15, 2013 /PRNewswire/ - Red Metal Resources Ltd. (OTCQB:RMES), is pleased to announce that its Chilean subsidiary, Minera Polymet Limitada, ("Polymet") has engaged a local mining contractor, Minera Farellon Ltda, to apply for a small scale mining operation permit on Red Metal's 100% owned Farellon copper-gold property. The small scale mining operation permits allow for transporting of up to 500 tonnes per month to local processing facilities. Once permits are issued Minera Farellon Ltda will commence mining activities. Minera Farellon Ltda will be transporting and selling the ore to ENAMI, the national mining company's local processing facility in Vallenar, located 75 kilometres south of the property
The Farellon property consists of seven mining and exploration concessions totaling 1,053 hectares in the Carrizal Alto mining district located approximately 75 kilometers northwest of the city of Vallenar, 150 kilometers south of Copiapo and 20 kilometers west of the Pan American Highway. The property is easily accessible year round by dirt roads that crisscross the property and is located close to power, water and a major urban centre, Copiapo, with a readily available mining workforce.
Caitlin Jeffs, P.Geo., President & CEO of Red Metal stated, "we are excited to see our 100% owned copper-gold project moving forward with this permit application and the engagement of a local mining contractor.".
Caitlin Jeffs, P. Geo., President & CEO of Red Metal, the project's Qualified Person as defined in NI 43-101, has reviewed and approved the contents of this news release.
About Red Metal Resources Ltd.
Red Metal Resources is a mineral exploration company focused on aggressive growth through acquiring, exploring and developing copper-gold assets in Chile. Our projects are located in the prolific Candelaria iron oxide copper-gold (IOCG) belt of Chile's coastal Cordillera, host to Freeport-McMoRan's Candelaria Mine and Anglo American's Mantoverde Mine. Red Metal is a fully reporting US public company quoted on the OTCQB under the symbol RMES. For more information, visit www.redmetalresources.com.
Except for the statements of historical fact, the information contained herein is of a forward-looking nature. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievement of the company to be materially different from any future results, performance or achievements expressed or implied by statements containing forward-looking information. Accordingly, you should not place undue reliance on statements containing forward looking information. The U.S. Securities and Exchange Commission permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We may use certain terms in our press releases, such as "measured," "indicated," and "inferred" resources, which the SEC guidelines generally prohibit companies from including in their filings with the SEC. Investors are urged to consider closely the disclosure in our Form 10-K, which may be obtained from us, or from the SEC website.
SOURCE Red Metal Resources Ltd.