23rd Oct 2013 07:36
LONDON (Alliance News) - Red Leopard Holdings PLC Wednesday said it had revisited the Idora mine tunnel site it is hoping to reopen with officials from the US Bureau of Land Management and found no reasons why the tunnel can't be reopened.
It has been developing an initial operating plan for the site in Idaho and said the US officials had made certain recommendations for the plan. It is now preparing a detailed plan which it will submit shortly to the US Bureau of Land Management.
"Whilst the company cannot predict with certainty the ultimate timing or actual approval of such a Plan of Operations, management remains confident that approval will be obtained," the company said in a statement.
The Idora Tunnel and associated mining claims are located in the vicinity of Shoshone County, Idaho, US, commonly referred to as "Silver Valley". The area is known as a key silver district, with total production to date of around 1.2 billion ounces of silver and substantial lead, zinc, copper and gold. Most of the claims, which cover a total land area of approximately 1,435 hectares, lie within the Panhandle National Forest on Bureau of Land Management land.
Red Leopard shares were up 18.2% at 0.65 pence early Wednesday, one of the biggest rises on AIM.
By Steve McGrath; [email protected]; @SteveMcGrath1
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