Revett outlines deep zones at Troy

Revett Minerals (RVM-T, RVMIF-O) is planning a new resource estimate for four mineralized zones on its Troy copper-silver mine in Montana, following an underground drilling program.

Revett outlined four mineralized horizons, all below the present underground workings at Troy. One, the I-Beds, was previously known, but three are new discoveries in quartzite horizons A, B and C in the Lower Revett formation.

In the A-Bed target, 55 metres below the mine workings, drill holes intersected zones mainly 8.5 to 13.5 metres thick, with copper grades of 0.2% to 0.3% and silver grades ranging from 13 to 32 grams per tonne. Two intersections in the B-Beds, 99 metres below existing workings, were 4.9 metres grading 0.2% copper and 18.9 grams silver per tonne, and 8.4 metres grading 0.65% copper and 44.6 grams silver.

Five mineralized intersections in the C-Bed horizon were 5 to 11 metres thick, running 0.5% to 0.6% copper and 50 to 70 grams silver per tonne. Those intersections were about 113 metres below existing development.

Provided the A, B and C-Bed horizons can be brought into reserves, Revett would have the option of developing that nearby mineralization before attempting to access the I-Bed horizon, 340 metres below the workings.

Drilling on the I-Beds returned a number of mineralized intersections, from 4.6 to 11 metres thick. Copper grades were mainly between 0.2% and 0.3%, with anywhere from 9 to 50 grams silver per tonne.

Revett also drilled a series of holes in the Upper Revett formation’s “Lower Quartzite” horizon. Those intersected stratabound copper and silver mineralization grading 0.2% to 0.5% copper and 17 to 38 grams silver. The mineralized zone ranges from 5 to 9 metres thick.

Revett, which owns a 67% interest in Troy’s owner, Revett Silver, also reported production of 1,583 tonnes copper and 372,000 oz. silver from the mine in the second quarter. The copper figure is 48% higher, and the silver figure 57% higher, than the comparable numbers in the second quarter of 2006.

The operation milled 306,000 tonnes in the quarter, up from 207,000 tonnes in the corresponding period a year ago, and grades were up significantly, to 0.59% copper from 0.49% and 42.5 grams silver per tonne from 40.5 grams. There was a marginal improvement in copper recovery in the mill as well.

The operation produced 3,313 tonnes copper and 917,000 oz. silver in 2006.