Romarcoencounters 88.4 meters of 5.1 g/t gold adds sixth rig at Haile 09 Jun 2010 09:16 ET
TRADING SYMBOL: TSX: R
TORONTO, June 9 /CNW Telbec/ - 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.
<<
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Hole Interval From To Gold
(meters) (meters) (meters) (g/t)
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RCT-008
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Horseshoe
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Interval 88.4 393.2 481.6 5.1
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Including 28.7 393.2 421.8 12.1
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RC-1756
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Ledbetter
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Interval 3.0 149.4 152.4 0.6
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Interval 4.6 221.0 225.6 0.9
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Interval 3.0 243.8 246.9 0.8
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Interval 32.0 295.7 327.7 2.6
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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.
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About Romarco Minerals Inc.
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>>
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.
