Red Leopard Holdings (RLH) Expects To Soon Finalise Idora Tunnel Reopening Plan
Red Leopard Holdings PLC Monday said it hopes to finalise plans to reopen the Idora Tunnel for the purposes of exploration on its mining claims in the vicinity of Shoshone County, Idaho, during the spring.
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The investment company, focused on natural resources opportunities, said that subject to approval from the US Bureau of Land Management to reopen the tunnel, it then hopes to commence exploration work immediately.
The company obtained a substantial volume of historical records in and around its Idora Mine claims during the winter and said that it believes the data will prove extremely valuable in executing its 2014 programme.
Red Leopard said in October that 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.
The company said at the time that 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.
The Idora Tunnel and associated mining claims are 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 also said it has also been proactive in considering other complimentary resource assets and earlier in 2014 it established a new subsidiary, Minera Red leopard Chile SpA.
The new subsidiary recently helped Sociedad De Asesoria Jurdica y Economica Minem SA to sell two properties in Chile to TSX-V listed Cougar Minerals Corp and was paid USD25,000 in cash and 300,000 in Cougar shares for helping the process. |
