Romarco Minerals Inc. Intersects 36.3 Meters of 5.5 G/T Gold at Horseshoe and 7.6 Meters of 24.1 G/T Gold at South Pit
02.05.2011 | CNW
TORONTO, May 2 /CNW Telbec/ - Romarco Minerals Inc. (TSX: R) (the "Company") is pleased to announce updates on drill results, permitting, and recent awards presented to senior management by community organizations.To date, the Company has completed approximately 33 percent of its planned 172,000-meter drilling campaign and is on schedule and budget for 2011 targets. A total of eleven drill rigs (seven core and four reverse circulation) are drilling throughout the Haile property. Drilling will continue through the permitting process and construction phase, and the Company anticipates it will take many years to drill test the exploration opportunities identified within the Haile district. The results in this release continue to demonstrate the sustained growth and continuity of the mineralized system at Haile, which remains unconstrained in all directions and at depth.
Infill drilling at Horseshoe returned 21.9 meters of 5.7 g/t gold, and 36.3 meters of 5.5 g/t gold from RCT-56 and an additional 13.1 meters of 4.1 g/t gold from RCT-41. In the western portion of South Pit within the higher-grade area of Mill Zone, RC-1916 encountered 9.1 meters of 14.2 g/t gold and RC-1959 returned 38.1 meters of 4.1 g/t gold, including 9.1 meters of 9.5 g/t. Additionally, RC-1910 returned 24.4 meters of 3.1 g/t gold.
Drilling between South Pit and Ledbetter continues to identify mineralization between the two proposed pits. Results from drilling in this area are highlighted by RCT-69, which returned 76.2 meters of 1.7 g/t gold, 21.3 meters of 2.0 g/t gold, and several additional mineralized intervals noted in the table below. Other holes drilled between the proposed pits and detailed below include RC-1934, RCT-36, and DDH-386. Drilling within the planned permit area between South Pit and Ledbetter continues to define significant mineralization beyond the current reserve pit boundaries and demonstrates further continuity between these zones.
In Champion, DDH-356 intercepted 6.1 meters of 1.5 g/t gold at the surface and an additional 12.2 meters of 1.1 g/t gold at 91.4 meters downhole. The Champion zone is located approximately 1 kilometer west of South Pit. Additional drilling within the planned permit area is expected to continue defining the extent of this mineralization outside of the pit boundaries.
To view a table of selected drill results, see appendix.
Plan view maps are available on the homepage of the Company's website: www.romarco.com
Permitting Update
The Company has recently held several meetings with various agencies in connection with the standard permitting process in the State of South Carolina. Consistent with its corporate environmental practice and philosophy, the Company will continue to work closely with the South Carolina Department of Health and Environmental Control ("DHEC"), the agency having jurisdiction and authority over the State Mine Operating Permit and the 401 Water Quality Certification and the US Army Corps of Engineers ("USACE") having jurisdiction and authority over the Federal 404 Permit. The other agencies, including the US Environmental Protection Agency ("EPA"), are commenting agencies and the Company is in dialogue with them to provide additional information concerning the scope and extent of the planned, state of the art gold mine to be located in Lancaster County, South Carolina. The areas to be mined are located beneath wetlands and streams degraded from historical mining onsite. As part of the project, the Company's mining efforts will avoid many of the streams and wetlands onsite. Those that are impacted will be re-established, improved and upgraded through restoration during the reclamation phase and Romarco will preserve more valuable, non-degraded wetlands and streams in the eco-region as part of its mitigation plan.
Operations Update
Romarco is pleased to announce that it is on budget and schedule in the construction of its previously announced analytical and metallurgical lab (see news release dated November 9, 2010). The laboratory will be seeking independent accreditation and will transition to the operating lab on production. While third-party check assays and verifications will remain critical, the completion of the lab will allow greatly reduced turnaround time for assays. The lab is on schedule to become operational in June 2011.
The Company has been involved in the detailed design and engineering phase and is currently on schedule and budget. Specifications for the grinding mills have been completed and have gone out for bid.
Community Update
Romarco would like to congratulate two of its team members for their recent awards:
Diane Garrett, President & CEO and David Thomas, VP & General Manager at Haile each received the 2011 Citizen of the Year Award by the Kershaw Chamber of Commerce for dedication and service to the town and community. In addition, Mr. Thomas received the 2011 Community Citizenship Award by the Mining Association of South Carolina. The Company is honored to have its members involved in strong community support, reflecting the core values within our organization.
These awards are presented annually by the Kershaw Community and the Mining Association of South Carolina in recognition of outstanding community participation involving education, volunteerism, and contributions toward quality of life improvements.
Photos of the awards can be viewed on the homepage of the Company's website: www.romarco.com
Sample Procedure
Drilling is being performed by Romarco's company owned drills (4 core, 1 reverse circulation), by Connors Drilling, and by Boart Longyear. The drill samples are prepared and assayed by Alfred H. Knight Group (formerly named Alaska Assay Laboratory). Samples are prepared at their facility in Spartanburg, SC and assaying is completed in Fairbanks, AK. Blank samples and third party standards are inserted at random for submittal with all of the drill samples. The results of the control samples are within acceptable ranges. Periodic duplicate and check samples are analyzed by ALS Chemex in Reno, NV. For a full discussion of the Company's sampling, analysis, quality assurance, quality control, and other technical disclosure, please see the Company's National Instrument ("NI") 43-101 Feasibility Technical Report dated February 10, 2011 on SEDAR. 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 primarily in the US. The Company has completed a positive Feasibility study and is continuing exploration drilling and permitting for its flagship project, the Haile Gold Mine in South Carolina.
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
FORWARD-LOOKING INFORMATION
This Press Release contains "forward-looking information" that is based on Romarco's expectations, estimates and projections as of the dates as of which those statements were made. This forward-looking information includes, among other things, statements with respect to the Company's business strategy, plans, outlook, drilling activity, costs savings, expenditures for environmental matters, reclamation and other post closure obligations and estimated future expenditures for those matters, and completion dates for the various development stages of mines. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as "outlook", "anticipate", "project", "target", "believe", "estimate", "expect", "intend", "should", "scheduled", "will", "plan" and similar expressions. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Romarco's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, and developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to:
- inherent uncertainties associated with exploration and development activities;
- risks associated with Romarco's operations being subject to significant environmental laws and regulations, including change in governmental regulation;
- uncertainties related to recent market events;
A discussion of these and other factors that may affect Romarco's actual results, performance, achievements or financial position is contained in the filings by Romarco with the Canadian provincial securities regulatory authorities, including Romarco's Annual Information Form. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the continued operation of Romarco's mining operations, no material adverse change in the market price of commodities, that the mining operations will operate in accordance with Romarco's public statements and achieve its stated production outcomes, and such other assumptions and factors as set out herein. Although Romarco has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate. Accordingly, readers should not place undue reliance on forward-looking statements. Romarco disclaims any intent or obligations to update or revise publicly any forward-looking statements whether as a result of new information, estimates or options, future events or results or otherwise, unless required to do so by law.
ROMARCO MINERALS INC.
TABLE OF SELECTED DRILL HOLES
___________________________________________
| Hole |Interval | From | To |Gold |
| |(meters) |(meters)|(meters)|(g/t)|
|_________|_________|________|________|_____|
| DDH-356 | | | | |
|_________|_________|________|________|_____|
|Champion | | | | |
|_________|_________|________|________|_____|
|Interval | 6.1 | 0 | 6.1 | 1.5 |
|_________|_________|________|________|_____|
|Interval | 12.2 | 91.4 | 103.6 | 1.1 |
|_________|_________|________|________|_____|
| RC-1910 | | | | |
|_________|_________|________|________|_____|
|Mill Zone| | | | |
|_________|_________|________|________|_____|
|Interval | 6.1 | 41.1 | 47.2 | 0.6 |
|_________|_________|________|________|_____|
|Interval | 4.6 | 65.5 | 70.1 | 1.1 |
|_________|_________|________|________|_____|
|Interval | 3.0 | 187.5 | 190.5 | 0.7 |
|_________|_________|________|________|_____|
|Interval | 24.4 | 198.1 | 222.5 | 3.1 |
|_________|_________|________|________|_____|
|Interval | 6.1 | 234.7 | 240.8 | 0.7 |
|_________|_________|________|________|_____|
| RC-1916 | | | | |
|_________|_________|________|________|_____|
|Mill Zone| | | | |
|_________|_________|________|________|_____|
|Interval | 3.0 | 42.7 | 45.7 | 0.7 |
|_________|_________|________|________|_____|
|Interval | 4.6 | 118.9 | 123.5 | 0.7 |
|_________|_________|________|________|_____|
|Interval | 9.1 | 227.1 | 236.2 |14.2 |
|_________|_________|________|________|_____|
|Interval | 3.0 | 281.9 | 284.9 | 1.6 |
|_________|_________|________|________|_____|
| RC-1959 | | | | |
|_________|_________|________|________|_____|
|Mill Zone| | | | |
|_________|_________|________|________|_____|
|Interval | 3.0 | 6.1 | 9.1 | 0.7 |
|_________|_________|________|________|_____|
|Interval | 38.1 | 99.1 | 137.2 | 4.1 |
|_________|_________|________|________|_____|
|Including| 9.1 | 111.3 | 120.4 | 9.5 |
|_________|_________|________|________|_____|
| RC-1934 | | | | |
|_________|_________|________|________|_____|
|South Pit| | | | |
|_________|_________|________|________|_____|
|Interval | 6.1 | 68.6 | 74.7 | 0.7 |
|_________|_________|________|________|_____|
|Interval | 3.0 | 153.9 | 156.9 | 0.6 |
|_________|_________|________|________|_____|
|Interval | 27.4 | 179.8 | 207.2 | 0.9 |
|_________|_________|________|________|_____|
|Interval | 6.1 | 214.9 | 221.0 | 0.9 |
|_________|_________|________|________|_____|
| RCT-36 | | | | |
|_________|_________|________|________|_____|
|South Pit| | | | |
|_________|_________|________|________|_____|
|Interval | 3.0 | 61.0 | 64.0 | 0.6 |
|_________|_________|________|________|_____|
|Interval | 7.6 | 73.2 | 80.8 | 1.4 |
|_________|_________|________|________|_____|
|Interval | 10.7 | 182.9 | 193.6 | 1.0 |
|_________|_________|________|________|_____|
|Interval | 9.1 | 277.4 | 286.5 | 0.6 |
|_________|_________|________|________|_____|
| RCT-61 | | | | |
|_________|_________|________|________|_____|
|South Pit| | | | |
|_________|_________|________|________|_____|
|Interval | 4.7 | 167.7 | 172.4 | 0.8 |
|_________|_________|________|________|_____|
|Interval | 10.1 | 180.1 | 190.2 | 4.6 |
|_________|_________|________|________|_____|
|Interval | 6.1 | 195.1 | 201.2 | 0.8 |
|_________|_________|________|________|_____|
|Interval | 4.3 | 207.5 | 211.8 | 0.9 |
|_________|_________|________|________|_____|
|Interval | 7.6 | 217.9 | 225.5 | 1.1 |
|_________|_________|________|________|_____|
|Interval | 4.6 | 234.7 | 239.3 | 1.1 |
|_________|_________|________|________|_____|
|Interval | 24.2 | 247.1 | 271.3 | 1.3 |
|_________|_________|________|________|_____|
|Interval | 19.7 | 277.5 | 297.2 | 0.9 |
|_________|_________|________|________|_____|
|Interval | 5.2 | 306.0 | 311.2 | 0.7 |
|_________|_________|________|________|_____|
|Interval | 3.7 | 333.1 | 336.8 | 1.0 |
|_________|_________|________|________|_____|
|Interval | 11.5 | 355.0 | 366.5 | 6.8 |
|_________|_________|________|________|_____|
|Including| 2.1 | 363.4 | 365.5 |31.4 |
|_________|_________|________|________|_____|
|Interval | 2.4 | 371.0 | 373.4 | 5.9 |
|_________|_________|________|________|_____|
|Interval | 29.0 | 413.0 | 442.0 | 1.2 |
|_________|_________|________|________|_____|
| RCT-69 | | | | |
|_________|_________|________|________|_____|
|South Pit| | | | |
|_________|_________|________|________|_____|
|Interval | 13.7 | 12.2 | 25.9 | 2.9 |
|_________|_________|________|________|_____|
|Including| 6.1 | 12.2 | 18.3 | 4.8 |
|_________|_________|________|________|_____|
|Interval | 3.0 | 33.5 | 36.5 | 0.9 |
|_________|_________|________|________|_____|
|Interval | 76.2 | 230.1 | 306.3 | 1.7 |
|_________|_________|________|________|_____|
|Interval | 21.3 | 326.1 | 347.4 | 2.0 |
|_________|_________|________|________|_____|
| DDH-386 | | | | |
|_________|_________|________|________|_____|
|South Pit| | | | |
|_________|_________|________|________|_____|
|Interval | 16.2 | 127.1 | 143.3 | 0.7 |
|_________|_________|________|________|_____|
|Interval | 5.4 | 225.3 | 230.7 | 0.7 |
|_________|_________|________|________|_____|
|Interval | 4.3 | 252.1 | 256.4 | 2.2 |
|_________|_________|________|________|_____|
| DDH-389 | | | | |
|_________|_________|________|________|_____|
|South Pit| | | | |
|_________|_________|________|________|_____|
|Interval | 4.4 | 195.2 | 199.6 | 0.6 |
|_________|_________|________|________|_____|
|Interval | 4.6 | 226.1 | 230.7 | 0.6 |
|_________|_________|________|________|_____|
|Interval | 32.0 | 239.3 | 271.3 | 1.4 |
|_________|_________|________|________|_____|
|Interval | 6.1 | 274.3 | 280.4 | 0.9 |
|_________|_________|________|________|_____|
|Interval | 7.6 | 292.6 | 300.2 |24.1 |
|_________|_________|________|________|_____|
|Including| 1.5 | 297.2 | 298.7 |87.1 |
|_________|_________|________|________|_____|
|Interval | 3.0 | 336.8 | 339.8 | 5.7 |
|_________|_________|________|________|_____|
|Interval | 3.4 | 374.2 | 377.6 | 2.8 |
|_________|_________|________|________|_____|
|Interval | 3.9 | 382.3 | 386.2 | 6.8 |
|_________|_________|________|________|_____|
|Interval | 3.1 | 388.6 | 391.7 | 1.4 |
|_________|_________|________|________|_____|
| RCT-41 | | | | |
|_________|_________|________|________|_____|
|Horseshoe| | | | |
|_________|_________|________|________|_____|
|Interval | 3.0 | 228.6 | 231.6 | 1.4 |
|_________|_________|________|________|_____|
|Interval | 4.6 | 368.8 | 373.4 | 0.9 |
|_________|_________|________|________|_____|
|Interval | 13.1 | 402.3 | 415.4 | 4.1 |
|_________|_________|________|________|_____|
|Interval | 4.6 | 435.8 | 440.4 | 0.6 |
|_________|_________|________|________|_____|
| RCT-56 | | | | |
|_________|_________|________|________|_____|
|Horseshoe| | | | |
|_________|_________|________|________|_____|
|Interval | 3.0 | 153.9 | 156.9 | 3.0 |
|_________|_________|________|________|_____|
|Interval | 4.6 | 167.6 | 172.2 | 0.6 |
|_________|_________|________|________|_____|
|Interval | 5.6 | 174.5 | 180.1 | 0.9 |
|_________|_________|________|________|_____|
|Interval | 20.6 | 187.4 | 208.0 | 1.6 |
|_________|_________|________|________|_____|
|Interval | 4.6 | 347.5 | 352.1 | 1.0 |
|_________|_________|________|________|_____|
|Interval | 2.7 | 361.5 | 364.2 | 1.2 |
|_________|_________|________|________|_____|
|Interval | 2.3 | 369.1 | 371.4 | 2.3 |
|_________|_________|________|________|_____|
|Interval | 9.6 | 378.7 | 388.3 | 1.4 |
|_________|_________|________|________|_____|
|Interval | 21.9 | 393.2 | 415.1 | 5.7 |
|_________|_________|________|________|_____|
|Interval | 36.3 | 419.4 | 455.7 | 5.5 |
|_________|_________|________|________|_____|
|Interval | 6.1 | 469.4 | 475.5 | 0.8 |
|_________|_________|________|________|_____|
|Interval | 7.9 | 487.7 | 495.6 | 0.8 |
|_________|_________|________|________|_____|
For further information:
Romarco Minerals Inc.
Diane Garrett, President and CEO
Phone: 210-621-4200
E-mail: dgarrett@romarco.com
www.romarco.com
Dan Symons, Manager, Investor Relations
Phone: 416-367-5500
E-mail: dsymons@romarco.com
Renmark Financial Communications Inc.
Maurice Dagenais 514-939-3989 or via e-mail at mdagenais@renmarkfinancial.com