Romarco encounters 88.4 meters of 5.1 g/t gold adds sixth rig at Haile
TRADING SYMBOL: TSX: R
TORONTO, June 9 /PRNewswire-FirstCall/ - ROMARCO MINERALS INC. (TSXV: R) (the "Company") is pleased to announce additional assay results from drilling at the Haile Gold Mine, in South Carolina. The results are from continued drilling of the newly discovered Horseshoe zone and from step-out drilling west of Ledbetter. RCT-008 and RC-1756 continue to expand the mineralization at the world class Haile deposit.
RCT-008 encountered 88.4 meters of 5.1 g/t Au (290 feet of 0..150 opt) from 393.2 meters (1290 feet) to 481.6 meters (1580 feet) down the hole including a 28.7 meter interval of 12.1 g/t gold. RCT-008 entered the mineralized zone 67 meters (220 feet) south of RC-1724 (91.4 meters of 7.0 g/t Au). at 335 meters (1100 feet) below surface, While previous drilling defining the Horseshoe zone was directed to the southeast, RCT-008 was drilled at an angle to the northwest in order to better determine the geometry of the mineralization. The extent of the mineralization encountered indicates a minimum ore thickness of 73 meters (240 feet) adjacent to RCT-008. Additional drilling is being conducted to further determine the mineralized extent along strike and dip in Horseshoe. Horseshoe remains open in all directions and at depth.
RC-1756 encountered mineralization 84 meters (275 feet) west of the Ledbetter deposit. RC-1756 intersected 32 meters of 2.6 g/t Au (105 feet of 0.076 opt). The main mineralized zone in RC-1756 is located 265 meters (870 feet) below the surface with lower grade zones beginning at 125 meters (410 feet) below the surface. Additional drilling is underway to determine the continuity and extent of the mineralization. The results of these holes are given in the table below.
Romarco has added another core rig, increasing the current drilling group to six rigs at Haile. Currently all six rigs are performing exploration drilling as the geology team prepares the condemnation drilling program for the new proposed tailings site situated to the north of the mineralized trend. Identifying and testing the location for tailings remains the critical path item for completion of the Feasibility Study. As the Company performs and then analyzes condemnation drilling results the engineering contractors are continuing their work with the in house technical team reviewing trade-off studies on through put rates, metallurgical optimization studies, underground study for Horseshoe, Ledbetter and Snake, and updating resource and reserve estimations to include recent drilling assays.
-------------------------------------------------------------------------
Hole Interval From To Gold
(meters) (meters) (meters) (g/t)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
RCT-008
-------------------------------------------------------------------------
Horseshoe
-------------------------------------------------------------------------
Interval 88.4 393.2 481.6 5.1
-------------------------------------------------------------------------
Including 28.7 393.2 421.8 12.1
-------------------------------------------------------------------------
RC-1756
-------------------------------------------------------------------------
Ledbetter
-------------------------------------------------------------------------
Interval 3.0 149.4 152.4 0.6
-------------------------------------------------------------------------
Interval 4.6 221.0 225.6 0.9
-------------------------------------------------------------------------
Interval 3.0 243.8 246.9 0.8
-------------------------------------------------------------------------
Interval 32.0 295.7 327.7 2.6
-------------------------------------------------------------------------
Including 4.6 323.1 327.7 11.7
-------------------------------------------------------------------------
Romarco has initiated resource studies on the new, higher grade Horseshoe area of the Haile property. Snowden Group in Vancouver, BC has been contracted to review Horseshoe, Ledbetter and Snake from an underground mining perspective. Their conclusions will be periodically updated as drilling progresses and, if appropriate, it will be included in the Haile Feasibility Study targeted for completion by the end of 2010.
The majority of the drilling performed this year has been primarily directed to condemnation drilling in order to complete the Feasibility Study and file for final permits. Some of that drilling has yielded very positive results and has identified new exploration targets in the Haile district. The Company will continue exploration drilling but intends to move the four RC rigs to the new tailings site location over the coming weeks in order to maintain the Feasibility Study timeline. The two core rigs will continue to conduct exploration drilling.
Drilling is being performed by Boart Longyear, Romarco's company owned drill, and Connors drilling. The drill samples are being assayed by Alaska Assay Labs in Fairbanks, AK. Blank samples as well as third party standards are inserted at random and submitted with all of the drill samples. The results of the control samples are within acceptable ranges. Romarco's Qualified Person under NI-43-101 is Peter J. Butterfield senior geologist at Haile.
About Romarco Minerals Inc.
---------------------------
Romarco Minerals Inc. is a gold development company focused on production in the US and Mexico. The Company's flagship project is the Haile Gold Mine in South Carolina which is currently in the process of a feasibility study and continued exploration drilling. The Pinos Gold District in Mexico is a high grade epithermal vein district in the advanced exploration stage.
Please note:
This entire press release may be accessed via fax, e-mail, Romarco's website at www.romarco.com and through CNW Group's website at www.newswire.ca. All material information on Romarco Minerals Inc. can be found at www.sedar.com
"Neither the TSX Venture nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release"
SOURCE ROMARCO MINERALS INC.
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article