VANCOUVER, Sept. 8, 2011 /PRNewswire/ - Red Eagle Mining Corporation (TSX-V: RD), is pleased to announce that Cabo Drilling Corp. (TSX-V: CBE) has commenced a 20,000 metre diamond core drilling program with two rigs at Red Eagle Mining's Santa Rosa project in Colombia. A minimum of 10,000 metres is expected to be completed during 2011.
The initial target is in the south east sector of the property. Here, high grade veins and stockwork systems have been traced for over two kilometres along strike and up to 30 metres in width. This trend is coincident with historic workings, high potassic alteration, anomalous aerial magnetics, IP and surface geochemistry. Results from the initial stage are expected early in the fourth quarter.
About Red Eagle Mining Corporation:
Red Eagle Mining Corporation is a well-financed gold exploration and development company with two flagship properties in Colombia, Santa Rosa and Pavo Real, and an experienced exploration and management team. Santa Rosa is located within an intrusive hosted structurally-controlled quartz stockwork system within the prolific Cretaceous Antioquia Batholith. Gold mining within the Santa Rosa project pre-dates the 16th century. Pavo Real is located within the Cauca gold belt which is host to numerous porphyry and epithermal gold deposits. For further information on Red Eagle Mining Corporation please refer to our website www.redeaglemining.com.
This news release has been approved by a Qualified Person in the employ of Red Eagle Mining Corporation. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
SOURCE Red Eagle Mining Corporation