MARIPOSA, Calif., Feb. 2, 2015 — Oro East Mining, Inc. (OROE) (the “Company”), is pleased to announce the completion of the updated technical report for the Red Bank Mine Project located in Mariposa county, California, prepared in accordance with National Instrument 43-101 Technical Report (“Technical Report”) summarizing the results of its recent study.
Based on the Technical Report dated December 29, 2014, prepared by Robert Campbell, M.S., California Professional Geologist, California Certified Engineering Geologist and Principal Engineering Geologist of GeoSolve, Inc. and the laboratory analytical results obtained from the 14 mineral samples collected at the Red Bank mine property in California, which were analyzed by ALS Minerals, mineable ore was determined to be present along the strike of two quartz veins and the talc-carbonate schist matrix bounded by the quartz veins. Up to 0.056 ounce of gold per troy ton of ore and 0.059 ounce of silver per troy ton of ore were determined to be present at the Red Bank mine property. Additionally, moderate to very high concentrations of Rare Earth Element (REE) were detected within the mineral samples collected from the talc-carbonate schist matrix within the lower tunnel mine adit. Rare Earth Elements (REE) found in Red Bank mine property include Dysprosium (Dy), Erbium (Er), Holmium (Ho), Lutetium (Lu), Terbium (Tb), Thulium (Tm), Yttrium (Y), and Ytterbium (Yb).
For detailed information, please see the official 8-K report filed in SEC
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