More gold at Chirano and Tasiast for Red Back

Vancouver – Red Back Mining (RBI-T, RBIFF-O) has boosted resources and reserves at both its operating open pit gold mines in Africa.

Red Back added 39% more proven and probable reserves and 32% more measured and indicated resources to its Tasiast mine, 300-km north of Nouakchott, Mauritania.

And at its Chirano mine, 100-km southwest of Kumasi, Red Back estimated new inferred resources for two potential underground mineralized areas.

Proven and probable reserves at Tasiast now stand at 49 million tonnes grading 1.45 grams gold per tonne for a total of 2.3 million oz. contained gold.

Measured and indicated resources are 97.4 million tonnes grading 1.19 grams gold for 3.7 million oz. contained gold.

The measured and indicated resource encompasses 6 km of strike length in two sub-parallel structures, Piment and West Branch, that Red Back has traced over 20 km on surface and 70 km through aerial geophysics.

Gold mineralization occurs within a banded iron formation and an adjacent vein-type greenstone belt. It dips 45 to 70 degrees, is 5-30 metres in width and is oxidized over the first 40 metres of depth.

By and large Piment makes up the largest component of the resource estimate, with a narrow pit plan extending over a 4.5-km north-south distance.

The current drill program, Red Back says, focuses on the 2-km south of the resource estimate’s limits.

At Chirano, as part of an ongoing drill campaign focusing on underground resources, Red Back has defined inferred resources at Paboase and Suraw beneath those deposits’ open pit designs.

Paboase weighs in at 2.3 million tonnes grading 3.5 grams gold for 250,000 oz. contained gold and Suraw comes in at 1.9 million tonnes grading 4.1 grams gold for 240,000 oz. contained gold.

Respectively Paboase and Suraw are 1 and 3 km from the Chirano mine and mill where an updated resource has pegged the open pit resource at 32.5 million measured and indicated tonnes grading 1.78 grams gold for 1.85 million oz. contained gold.

Reserves are 24.1 million proven and probable tonnes grading 1.5 grams gold for 1.2 million oz. contained gold.

Beneath the Chirano pit Red Back says it is currently extending a decline into the Akwaaba deeps, an underground zone from which it has begun to process ore.

The measured and indicated resource estimate at Akwaaba stands at 6.1 million tonnes grading 6 grams gold for 1.2 million oz. gold. Proven and probable reserves are 8.2 million tonnes grading 4.21 grams gold for 1.1 million oz. gold.

At Chirano Red Back has defined eleven deposits and beyond planned infill drilling at Paboase and Suraw Red Back says it will test below its Tano, Akoti and Obra open pits.

In its last quarter ending Dec. 31, 2008, Red Back produced 72,664 oz. gold from Tasiast and Chirano at a cash cost of US$393 per oz. gold.