Red 5’s Siana underground mine approved for development

Based on the positive outcomes of an updated feasibility study for junior gold miner Red 5’s Siana gold project, in the Philippines, the Siana underground mine has been approved for development and is scheduled to start in the second half of this year. The feasibility study indicated a financially and technically viable underground project based on a Joint Ore Reserves Committee-compliant ore reserve comprising 3.01-million tonnes gold at 4.1 g/t gold for 396 000 oz of contained gold.