RLH Red Leopard

TIDMRLH

RNS Number : 0829Q

Red Leopard Holdings PLC

25 February 2016

25 February 2016

Red Leopard Holdings Plc

("Red Leopard" or the "Company")

Operational Update

The Company is pleased to provide an update on its current activities and, in particular, its efforts to explore its highly prospective silver holdings in the Coeur d'Alene mining district in northern Idaho, USA.

Last year proved to be frustrating for the Company, hampered by unfavorable market conditions for silver, and as previously announced, difficulties in accessing the Idora Tunnel due to forest fires in Idaho during September 2015. The directors believe that market conditions have begun to show signs of recovery and that now is the time to continue to progress their plans for the Idora Tunnel.

The Company remains in discussions with mining engineers to evaluate the repair cost of the rock fall inside the reopened adit within the Tunnel. The objective remains to fully explore the length of the adit, which is over 600 meters long, and evaluate the seven mineralised veins (detailed in historic geologic reports). Notwithstanding the ongoing evaluation, the Company intends to conduct soil sampling along the surface of the various veins crossed by the Idora Tunnel during the next quarter.

The Company continues to be proactive in exploring and considering other complimentary resource assets, financing options and opportunities to enhance shareholder value.

The Company expects to announce its final results for the year ended 31 December 2015 around the end of April 2016.

 
 Enquiries: Red Leopard Holdings PLC 
---------------------------------------------- 
 John May, Chairman           Tel: +44 (0) 207 
                               917 6826 
---------------------------  ----------------- 
 Northland Capital Partners Limited 
---------------------------------------------- 
 David Hignell/Gerry Beaney   Tel: +44 (0) 207 
                               382 1100 
---------------------------  ----------------- 
 Beaufort Securities Limited 
---------------------------------------------- 
 Zoe Alexander                Tel: +44 (0) 207 
                               382 8300 
---------------------------  ----------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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