Revett Minerals

Published : July 10th, 2007

Announces Discovery of New Mineralization at Troy

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Keywords :   Copper | Diamond | Lead | Precious Metals | Silver | Storage |

Revett Announces Discovery of New Mineralization at Troy

Spokane Valley, Washington (July 10, 2007) - Revett Minerals Inc. (TSX-RVM) ("Revett" or the "Company") is pleased to announce that it has obtained encouraging preliminary results from its underground Diamond drill program at its Troy Mine in Montana.  This program was designed to explore the area below the currently defined mineral reserve in an effort to extend the current 6 year life of the operation. Preliminary results from the 2006/2007 Revett drilling program confirm four mineralized horizons, including a previously unknown higher grade zone in the Lower Revett Formation.  Revett expects to complete a new resource estimate for these horizons prior to year end.

William Orchow, President and CEO of Revett, stated "We are very excited about the results so far in our exploration efforts at Troy.  Of particular importance is the fact that three new zones of mineralization, with sufficient thickness and grade to potentially warrant development, have been discovered below the present mine workings. The discovery of these mineralized beds offers us the opportunity to phase our mine development to depth below the current mining areas rather than undertaking a larger development project to access the "I-Beds" in the future. These results, coupled with the potential of the 2007 surface program on the extensive "I-Bed" target, bode well for our future at Troy."

Program Highlights

  • Discovery of 3 new mineralized horizons in the Lower Revett Formation at Troy; the "A, B & C Beds" (labeled downward stratigraphically).
    • Higher grade "C-Beds" include intercepts of 22 feet @ 0.63% Cu & 2.15 opt Ag and 16 feet @ 0.62% Cu & 1.80opt Ag, approximately 370 feet below the current mine workings.
    • Compares to the current reserve grade of 0.55% Cu & 1.15 opt Ag.
      Confirmed "I Bed" mineralization below the existing Troy Mine workings, approximately 1,170 feet below the current mine workings.
  • Initiated 2007 surface drilling program.
    • Surface program is designed to define continuity of the "I-Beds" between the Troy Mine Complex and the JF Property to the south.

Lower Revett Formation

The 2006/2007 underground program has intercepted strata-bound copper/silver mineralization in the "A, B, C and I-Beds" of the Lower Revett Formation, ranging from 180 to 1,170 feet below the Troy Mine workings (which are primarily hosted in the Middle Quartzite of the Upper Revett Formation).  The drilling covers an area 600 feet wide by 2,000 feet long.  The Company's Rock Creek development project is hosted in upper quartzite units of the Lower Revett Formation, specifically the "A, C & E -Beds", and the Company believes the drilling has confirmed the presence of ore grade mineralization in the "A & C -Beds" at Troy. 

The prior operator of the Troy Mine, ASARCO Inc. ("ASARCO"), had drilled several holes into the "I-Beds" beneath and adjacent to the mine that returned copper and silver mineralization over a broad area. In 2006, the Company began testing the Lower Revett to follow up on these findings with encouraging results to date as well as positive results in the "A, B, and C Beds".

Lower Revett Formation "A-Bed" Drill Results

Depth below Mine Workings: 180'.

 

Hole ID

From

(feet)

To

(feet)

Drill Interval

(feet)

Copper

Grade

Silver

Grade

 

Date/Company

SL-150

362'

392'

30'

0.21%

0.38 opt

2006/Revett

SL-152

373'

416'

43'

0.14%

0.66 opt

2006/Revett

SL-153

366.5'

411'

44.5'

0.25%

1.11 opt

2007/Revett

SL-154

358'

406'

        44'      

0.24%

0.47 opt

2007/Revett

SL-155

414'

428'

        14'      

0.29%

0.40 opt

2007/Revett

SL-156

384'

412'

        28'      

0.28%

0.94 opt

2007/Revett

SL-158

394'

422'

28'

0.20%

0.47 opt

2007/Revett

SL-159

 

 

Pending

 

 

2007/Revett

SL-160

 

 

Pending

 

 

2007/Revett


Lower Revett Formation "B-Bed" Drill Results

Depth below Mine Workings: 325'.

 

Hole ID

From

(feet)

To

(feet)

Dril Interval

(feet)

Copper

Grade

Silver

Grade

 

Date/Company

SL-154

550.5'

578'

       27.5'     

0.65%

1.30 opt

2007/Revett

SL-155

501'

517'

        16'      

0.20%

0.55 opt

2007/Revett

SL-159

 

 

Pending

 

 

2007/Revett

SL-160

 

 

Pending

 

 

2007/Revett


Lower Revett Formation "C-Bed" Drill Results

Depth below Mine Workings: 370'.

 

Hole ID

From

(feet)

To

(feet)

Drill Interval

(feet)

Copper

Grade

Silver

Grade

 

Date/Company

SL-154

584'

620'

        36'      

0.57%

1.64 opt

2007/Revett

SL-155

568'

598'

        30'      

0.59%

1.63 opt

2007/Revett

SL-158

554'

576'

22'

0.63%

2.15 opt

2007/Revett

SL-159

581'

613'

32'

0.47%

1.38 opt

2007/Revett

including

 

 

16'

0.62%

1.80 opt

 

SL-160

 

 

Pending

 

 

2007/Revett


Lower Revett Formation "I-Bed" Drill Results

Depth below Mine Workings: 1120'.

 

Hole ID

From

(feet)

To

(feet)

Drill Interval

(feet)

Copper

Grade

Silver

Grade

 

Date/Company

SL-125

1,312'

1,330'

18'

0.18%

0.62 opt

1987/ASARCO

SL-126

1,888'

1,900'

12'

0.28%

0.66 opt

1987/ASARCO

SL-131

907'

918'

11'

0.41%

1.02 opt

1989/ASARCO

SL-150

1,279'

1,315'

36'

0.21%

1.09 opt

2006/Revett

SL-151

1,346'

1,366'

20'

0.22%

0.67 opt

2006/Revett

SL-152

1,302.5'

1,317.5'

15'

0.26%

0.27 opt

2006/Revett

SL-153

1,314'

1,337'

23'

0.24%

1.48 opt

2007/Revett

SL-154

1,338'

1,364'

        26'      

0.22%

0.75 opt

2007/Revett

SL-155

1,343'

1,380'

        37'      

0.24%

0.82 opt

2007/Revett

SL-156

1,325'

1,345'

        20'      

0.28%

0.85 opt

2007/Revett

SL-157

 

 

Pending

 

 

2007/Revett

SL-158

 

 

Pending

 

 

2007/Revett

SL-159

1,334'

1,368'

34'

0.23%

0.79 opt

2007/Revett

SL-160

 

 

Pending

 

 

2007/Revett

Note: Holes SL-125 through SL-151were previously released.

Upper Revett Formation

The drilling program has also intercepted strata-bound copper/silver mineralization in the "Lower Quartzite" of the Upper Revett Formation, 25 to 30 feet stratigraphically below the Troy ore body.  ASARCO had drilled and mined the "Lower Quartzite" at the Troy Mine. In 2006 and 2007, the Company tested the Lower Quartzite to expand the known reserve/resource.

Troy Upper Revett Formation "Lower Quartzite" Drill Results

Depth below primary Mine Workings: 30'.

 

Hole ID

From

(feet)

To

(feet)

Drill Interval

(feet)

Copper

Grade

Silver

Grade

 

Date/Company

SL-151

47.5'

70'

22.5'

0.27%

0.60 opt

2006/Revett

SL-154

40.5'

68'

       27.5'     

0.21%

0.77 opt

2007/Revett

SL-155

45'

75'

        30'      

0.25%

0.50 opt

2007/Revett

SL-156

55'

71'

16'

0.18%

0.50 opt

2007/Revett

SL-158

44'

72'

30'

0.34%

0.92 opt

2007/Revett

SL-159

 

 

Pending

 

 

2007/Revett

SL-160

 

 

Pending

 

 

2007/Revett

06-9W-01

73'

90'

17'

0.33%

0.55 opt

2006/Revett

06-E37F-02

48'

68'

20'

0.36%

0.77 opt

2006/Revett

06-6W-03

41'

59'

18'

0.54%

0.97 opt

2006/Revett

06-WA68-05

43'

74'

31'

0.43%

1.11 opt

2006/Revett

07-NS-06

39'

67'

28'

0.36%

0.77 opt

2007/Revett

07-E57-07

52'

76'

24'

0.42%

0.97 opt

2007/Revett


Assay Quality Assurance/Quality Control

Core samples were collected under the direct supervision of Revett personnel and stored at a secure storage facility at the Troy Mine. Detailed geologic logging identified the mineralized intervals sampled. All the samples were taken from NC cores (~2") that were sawed in half. In general two foot intervals were sampled. All samples were analyzed for copper, silver and lead using atomic absorption spectrometry. Any samples with silver values greater than 0.40 ounces per ton were fire assayed. A total of 998 samples were taken from intercepts in drill holes SL-150 through SL-156.

Revett has submitted reference samples to American Analytical Services and Chris Christopherson Inc. for Quality Assurance /Quality Control. Typical ore grade material and mine tailing (waste) material are used as reference samples. Approximately one in twenty samples is a reference sample and 10% of the core sample results are checked at the Genesis-Troy Mine lab.

About Revett

Revett, through its subsidiaries, owns and operates the Troy Mine, and the development stage Rock Creek Project, both of which are located in northwestern Montana, USA.  These projects host significant copper and silver mineral reserves and resources and will form the basis of our plan to become a solid mid-tier base and precious metals producer in the future.  The Company plans on expanding its production through exploration in and around its current properties, as well as through targeted business combinations of advanced staged projects.
 
William Orchow
President & CEO

For more information, please contact:
Scott Brunsdon, CFO or Doug Ward, VP Corporate Development at (509) 921-2294

Renmark Financial Communications Inc.
Jason Roy : jroy@renmarkfinancial.com
Michael Shore : mshore@renmarkfinancial.com
Media - Eva Jura : ejura@renmarkfinancial.com
Tel. : (514) 939-3989
Fax : (514) 939-3717
www.renmarkfinancial.com

THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS REGARDING THE COMPANY'S PLAN TO UNDERTAKE AN EXTENSIVE EXPLORATION PROGRAM IN THE TROY MINE AREA. THIS PROGRAM WILL BE DEPENDANT UPON OBTAINING THE REQUIRED PERMITS AND THE COMPANY CONTINUING TO PROVIDE THE FUNDS REQUIRED TO UNDERTAKE THIS WORK. IN ADDITION, THE HISTORICAL RESOURCE IDENTIFIED FOR THE JF DEPOSIT WAS DETERMINED USING INFORMATION OBTAINED BY THE COMPANY FROM ASARCO AND SUCH INFORMATION HAS NOT BEEN VERIFIED BY THE COMPANY AS TO ITS ACCURACY. AS SUCH, THE RESOURCE IS NOT IN COMPLIANCE WITH NATIONAL INSTRUMENT 43-101. THE FORWARD-LOOKING STATEMENTS CONTAINED IN THIS PRESS RELEASE REPRESENT THE COMPANY'S VIEWS AND EXPECTATIONS AS OF THE DATE OF THIS PRESS RELEASE AND SHOULD NOT BE RELIED UPON AS REPRESENTING THE COMPANY'S VIEWS AND EXPECTATIONS AS OF A SUBSEQUENT DATE.

Revett Minerals

PRODUCER
CODE : RVM.TO
ISIN : CA7615051066
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Revett is a silver and copper producing company based in United states of america.

Its main asset in production is TROY in USA and its main asset in development is ROCK CREEK in USA.

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Corporate Presentations of Revett Minerals
9/17/2009Comprehensive Coverage of Financial Markets
Annual reports of Revett Minerals
Annual report 2006
Financials of Revett Minerals
5/12/2011Provides Q1 2011 Financial Results
3/23/2011Reports on 2010 Financial and Operating Results
8/13/2008Reports Operating and Financial Results for the Three and Si...
3/28/2008Reports on 2007 Financial and Operating Results
8/13/2007 Reports Strong Operating and Financial Results for the Thre...
5/11/2007Reports Operating and Financial Results for the Three Months...
Project news of Revett Minerals
1/24/2008(Troy)Updates Reserve Estimates at the Troy Mine.
12/14/2007(Rock Creek)Reports on Significant Rock Creek Permit Progress
7/10/2007Announces Discovery of New Mineralization at Troy
4/11/2007Reports on Troy's Operational Improvements
Corporate news of Revett Minerals
5/8/201510-Q for Revett Mining Co., Inc.
4/30/201510-K for Revett Mining Co., Inc.
3/30/2015Revett Mining Company Provides 2014 Financial Results
3/27/2015Revett Minerals Inc.: HECLA TO ACQUIRE REVETT IN $20 MILLION...
3/2/2015Revett Mining Provides Update on Rock Creek Permitting and T...
3/2/2015Revett Minerals Inc. : Revett Mining Provides Update on Rock...
3/2/2015Revett Mining Provides Update on Rock Creek Permitting and T...
1/20/2015IIROC Trade Resumption - RVM
1/20/2015Revett Places Troy Mine on Care & Maintenance
1/19/2015IIROC Trading Halt - RVM
11/10/2014Revett Reports Q3 2014 Financial Results and Provides Troy M...
10/1/2014Revett Resumes Underground Crushing Operations at Troy Mine
8/26/2014Revett Announces US $5 Million Loan Agreement
8/11/2014Revett Reports Q2 2014 Financial Results and provides Troy M...
7/1/2014Revett Provides Update on Troy Mine Development and Rock Cre...
6/20/2014Revett Mining Announces Results of Its 2014 Annual Meeting
5/12/2014Revett Reports Q1 2014 Financial Results and Provides Troy M...
3/27/2014Revett Mining Company Provides 2013 Financial Results
3/27/2014Revett Mining Company Provides 2013 Financial Results
3/26/2014Revett Completes Private Placement
5/26/2011Begins Trading on NYSE Amex Options
5/4/2011Approved for NYSE Amex Listing
2/25/2011Announces Analyst Coverage Initiated by Stonecap Securities
9/10/2008Announces New President & CEO
6/2/2008Commences Work at Rock Creek.
11/26/2007Acquires Rock Creek Mitigation Lands
11/20/2007Mr. Louis Gignac Appointed Director
8/15/2007Reports Resumption of Mining at Troy.
7/31/2007Minerals Reports on Mine Fatality
7/13/2007Reports on Troy's Continuing Production Improvements
6/1/2007Funds First Phase of Grizzly Recovery Program
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TORONTO (RVM.TO)AMEX (RVM)
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