Romarco drills 32.9 meters of 10.5 g/t gold at Horseshoe, initiates regional exploration and provides permitting update
TORONTO, Sept. 14, 2011 /CNW/ --
TORONTO, Sept. 14, 2011 /CNW Telbec/ - ROMARCO MINERALS INC. (TSX:R) (the 'Company') is pleased to provide an update of recent assay results
from the on-going drill program at its 100%-owned Haile Gold Mine
project in South Carolina. The results continue to demonstrate the
sustained growth and continuity of the mineralized system at Haile.
Highlighted new holes from zones throughout the property include:
-- RCT-98, an infill hole at Horseshoe, encountered 32.9 meters of
10.5 g/t gold and 3.7 meters of 29.2 g/t gold, 18 meters north
from hole RCT-8 (88.4 meters of 5.1 g/t gold - see June 9, 2010
press release);
-- RCT-79 a step-out hole at Horseshoe encountered 19.8 meters of
6.9 g/t gold, 30 meters south from hole DDH-379 (66 meters of
10.9 g/t gold - see October 28, 2010 press release);
-- Between South Pit and Snake, RCT-125 encountered 25.9 meters
with 3.6 g/t gold and RCT-127 intersected 57.9 meters of 2.0
g/t gold, including 6.1 meters of 10.1 g/t gold;
-- DDH-399 encountered 47.6 meters of 3.4 g/t gold including 6.1
meters of 12.7 g/t gold at Mustang;
-- Between Snake and Horseshoe, RCT-92 encountered 26.8 meters of
4.1 g/t gold including 10.7 meters of 8.2 g/t gold.
Infill drilling continues to demonstrate high-quality continuity of the
Haile mineralization system. Horseshoe, Snake, and the mineralized
area between these two deposits remain open to the south and at depth.
Several widely spaced intercepts between Snake and South Pit remain
open in multiple directions. Mustang remains open to the northeast and
northwest at depth and Mill Zone is currently open along strike.
During the first six months of 2011 the Company executed its budget and
directed drilling on areas that were most likely to benefit the mine
plan. This involved (1) focusing on infill drilling to increase
reserves and upgrade in-pit inferred resource mineralization into the
measured and indicated resource categories, which were considered waste
in the feasibility study, and (2) condemnation drilling for overburden
stockpiles. With the additional time available due to the
Environmental Impact Statement ('EIS'), Romarco has updated its
drilling priorities. Exploration will now focus on step-out drilling
at Haile for the balance of 2011, while outstanding condemnation
drilling will be mainly completed during 2012. Currently, there are 43
drill holes from Haile at AHK Geochem with pending results.
A table of selected drill results is included in the Appendix and plan
view maps are available on the Company's website: www.romarco.com
Regional Exploration
Approximately 25,000 meters of exploration drilling will be directed to
regional targets (30% of the 2011 second half program). The regional
targets have been drilled in the past with positive results. The
planned programs are intended to confirm the historical drilling and
test for strike and dip extensions of the known mineralization.
The Company received the permits required to drill at its Bayberry
property, located 3.4 kilometers northwest of Haile, in July and
commenced a 13-hole confirmation drill program. Thus far, 9 of the 13
holes have been completed and are pending assay. The Bayberry property
had minor production at the turn of the 20(th) century. Amselco Exploration and Westmont Mining drill tested the area
during the 1980s and completed 4,275 meters of drilling during this
period, predominately in shallow holes.
Romarco received the required permits to drill at its Hickory property,
located approximately 160 kilometers northeast of Haile in North
Carolina, in August and has commenced a 16-hole confirmation drill
program. The Hickory property was discovered in the 1830s and ceased
operations during the Civil War. Gold Fields, Westmont, Corona, and
Minefinders explored the property during the 1980s and 1990s. HB
Engineering conducted exploration at the site during 2009 with the hope
of identifying a shallow oxide resource. A total of 5,157 meters of
historical drilling, mostly in shallow holes, was completed at the site
before Romarco acquired the property.
The Company is currently permitting its Ironwood property in North
Carolina and its Elm property in South Carolina for initial exploration
drill programs. Romarco is on schedule to complete 25,000 meters of
regional exploration during the second half of 2011.
Romarco's regional properties exhibit similar characteristics as Haile
in that the geology is favourable and past mining or past exploration
activities demonstrate near surface shallow oxides transitioning into
sulfides with no significant deeper drilling having occurred.
Permitting Update
The EIS process is underway and the Company has had several planning
meetings with the US Army Corps of Engineers ('USACE'). The selection
of the third party contractor is advancing promptly. After reviewing
the qualifications of several professional engineering firms with EIS
expertise, the USACE selected a short list for interviews that were
conducted on September 2, 2011. We are currently working with the USACE
to finalize agreements with the chosen firm.
Diane Garrett, President and CEO, commented, 'We are pleased with the
progress we are making with the EIS process. Promptly selecting the
third party contractor is a significant step in advancing the EIS on
the timeline we are targeting.'
Sample Procedure
Drilling is being performed by Romarco's company-owned drills (4 core, 1
reverse circulation), Connors Drilling, and Boart Longyear. Drill
samples are prepared by either AHK Geochem ('AHK') at their facility in
Spartanburg, SC, or at the Company's wholly owned Kershaw Mineral
Laboratories, Kershaw, SC. All assaying is completed in Fairbanks, AK
by AHK, an independent laboratory. 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 James M. Berry, P.G.,
Chief Geologist at Haile. Mr. Berry has reviewed and approved this
news release.
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
Appendix
Table of Selected Drill Holes
_________________________________________________
| Hole |Interval | From | To |Gold |
| |(meters) |(meters)|(meters)|(g/t)|
|_______________|_________|________|________|_____|
| | | | | |
|_______________|_________|________|________|_____|
| DDH-355 | | | | |
|_______________|_________|________|________|_____|
| Champion | | | | |
|_______________|_________|________|________|_____|
| Interval | 3.0 | 85.4 | 88.4 | 1.0 |
|_______________|_________|________|________|_____|
| Interval | 11.9 | 160.0 | 171.9 | 0.8 |
|_______________|_________|________|________|_____|
| RC-2012 | | | | |
|_______________|_________|________|________|_____|
| Small | | | | |
|_______________|_________|________|________|_____|
| Interval | 7.6 | 73.2 | 80.8 | 0.7 |
|_______________|_________|________|________|_____|
| Interval | 3.0 | 85.4 | 88.4 | 0.6 |
|_______________|_________|________|________|_____|
| Interval | 3.0 | 117.4 | 120.4 | 0.7 |
|_______________|_________|________|________|_____|
| RCT-64 | | | | |
|_______________|_________|________|________|_____|
| Mill Zone | | | | |
|_______________|_________|________|________|_____|
| Interval | 9.1 | 228.6 | 237.7 | 0.7 |
|_______________|_________|________|________|_____|
| Interval | 7.6 | 256.0 | 263.6 | 1.7 |
|_______________|_________|________|________|_____|
| Interval | 12.2 | 324.6 | 336.8 | 0.7 |
|_______________|_________|________|________|_____|
| RC-2003 | | | | |
|_______________|_________|________|________|_____|
| Mill Zone | | | | |
|_______________|_________|________|________|_____|
| Interval | 4.6 | 10.7 | 15.3 | 0.6 |
|_______________|_________|________|________|_____|
| Interval | 7.6 | 333.8 | 341.4 | 1.0 |
|_______________|_________|________|________|_____|
| RCT-90 | | | | |
|_______________|_________|________|________|_____|
| Chase | | | | |
|_______________|_________|________|________|_____|
| Interval | 6.1 | 12.2 | 18.3 | 1.2 |
|_______________|_________|________|________|_____|
| DDH-360 | | | | |
|_______________|_________|________|________|_____|
| South Pit | | | | |
|_______________|_________|________|________|_____|
| Interval | 6.1 | 0.0 | 6.1 | 1.7 |
|_______________|_________|________|________|_____|
| DDH-392 | | | | |
|_______________|_________|________|________|_____|
| South Pit | | | | |
|_______________|_________|________|________|_____|
| Interval | 15.2 | 143.3 | 158.5 | 1.1 |
|_______________|_________|________|________|_____|
| Interval | 2.8 | 179.8 | 182.6 | 0.6 |
|_______________|_________|________|________|_____|
| Interval | 2.8 | 189.0 | 191.8 | 0.7 |
|_______________|_________|________|________|_____|
| Interval | 4.6 | 304.8 | 309.4 | 0.5 |
|_______________|_________|________|________|_____|
| DDH-403 | | | | |
|_______________|_________|________|________|_____|
| South Pit | | | | |
|_______________|_________|________|________|_____|
| Interval | 6.1 | 138.7 | 144.8 | 1.0 |
|_______________|_________|________|________|_____|
| Interval | 3.0 | 179.9 | 182.9 | 0.7 |
|_______________|_________|________|________|_____|
| DDH-406 | | | | |
|_______________|_________|________|________|_____|
| South Pit | | | | |
|_______________|_________|________|________|_____|
| Interval | 4.6 | 114.3 | 118.9 | 0.7 |
|_______________|_________|________|________|_____|
| Interval | 13.7 | 135.6 | 149.3 | 0.9 |
|_______________|_________|________|________|_____|
| Interval | 10.4 | 186.2 | 196.6 | 0.6 |
|_______________|_________|________|________|_____|
| DDH-407 | | | | |
|_______________|_________|________|________|_____|
| South Pit | | | | |
|_______________|_________|________|________|_____|
| Interval | 4.6 | 56.4 | 61.0 | 3.1 |
|_______________|_________|________|________|_____|
| Interval | 5.0 | 97.0 | 102.0 | 1.1 |
|_______________|_________|________|________|_____|
| Interval | 4.6 | 507.5 | 512.1 | 1.0 |
|_______________|_________|________|________|_____|
| Interval | 7.6 | 583.7 | 591.3 | 1.0 |
|_______________|_________|________|________|_____|
| RC-1917 | | | | |
|_______________|_________|________|________|_____|
| South Pit | | | | |
|_______________|_________|________|________|_____|
| Interval | 16.8 | 94.5 | 111.3 | 0.7 |
|_______________|_________|________|________|_____|
| Interval | 3.0 | 237.8 | 240.8 | 1.3 |
|_______________|_________|________|________|_____|
| RCT-34 | | | | |
|_______________|_________|________|________|_____|
| Mustang | | | | |
|_______________|_________|________|________|_____|
| Interval | 17.9 | 288.1 | 306.0 | 1.5 |
|_______________|_________|________|________|_____|
| Interval | 45.7 | 307.9 | 353.6 | 1.1 |
|_______________|_________|________|________|_____|
| RCT-65 | | | | |
|_______________|_________|________|________|_____|
| Mustang | | | | |
|_______________|_________|________|________|_____|
| Interval | 12.2 | 97.5 | 109.7 | 1.0 |
|_______________|_________|________|________|_____|
| Interval | 3.0 | 118.9 | 121.9 | 1.1 |
|_______________|_________|________|________|_____|
| Interval | 7.6 | 346.0 | 353.6 | 5.9 |
|_______________|_________|________|________|_____|
| RCT-85 | | | | |
|_______________|_________|________|________|_____|
| Mustang | | | | |
|_______________|_________|________|________|_____|
| Interval | 3.0 | 189.0 | 192.0 | 1.1 |
|_______________|_________|________|________|_____|
| Interval | 13.7 | 195.1 | 208.8 | 0.9 |
|_______________|_________|________|________|_____|
| Interval | 36.6 | 274.3 | 310.9 | 0.8 |
|_______________|_________|________|________|_____|
| DDH-393 | | | | |
|_______________|_________|________|________|_____|
| Mustang | | | | |
|_______________|_________|________|________|_____|
| Interval | 3.0 | 181.4 | 184.4 | 0.8 |
|_______________|_________|________|________|_____|
| Interval | 4.6 | 210.3 | 214.9 | 1.0 |
|_______________|_________|________|________|_____|
| Interval | 50.3 | 260.6 | 310.9 | 1.5 |
|_______________|_________|________|________|_____|
| Interval | 9.1 | 324.6 | 333.7 | 1.0 |
|_______________|_________|________|________|_____|
| Interval | 10.7 | 339.8 | 350.5 | 0.5 |
|_______________|_________|________|________|_____|
| Interval | 3.0 | 355.1 | 358.1 | 3.0 |
|_______________|_________|________|________|_____|
| Interval | 3.0 | 361.2 | 364.2 | 1.9 |
|_______________|_________|________|________|_____|
| Interval | 20.9 | 403.8 | 424.7 | 1.2 |
|_______________|_________|________|________|_____|
| DDH-399 | | | | |
|_______________|_________|________|________|_____|
| Mustang | | | | |
|_______________|_________|________|________|_____|
| Interval | 3.0 | 163.1 | 166.1 | 0.6 |
|_______________|_________|________|________|_____|
| Interval | 6.1 | 192.0 | 198.1 | 1.0 |
|_______________|_________|________|________|_____|
| Interval | 3.0 | 204.2 | 207.2 | 0.8 |
|_______________|_________|________|________|_____|
| Interval | 6.1 | 219.5 | 225.6 | 0.8 |
|_______________|_________|________|________|_____|
| Interval | 47.6 | 254.2 | 301.8 | 3.4 |
|_______________|_________|________|________|_____|
| Including | 6.1 | 263.7 | 269.8 |12.7 |
|_______________|_________|________|________|_____|
| Interval | 22.9 | 310.9 | 333.8 | 0.8 |
|_______________|_________|________|________|_____|
| Interval | 3.0 | 390.1 | 393.1 | 0.6 |
|_______________|_________|________|________|_____|
| DDH-402 | | | | |
|_______________|_________|________|________|_____|
| Mustang | | | | |
|_______________|_________|________|________|_____|
| Interval | 6.1 | 61.0 | 67.1 | 1.1 |
|_______________|_________|________|________|_____|
| Interval | 4.6 | 137.1 | 141.7 | 0.7 |
|_______________|_________|________|________|_____|
| Interval | 3.0 | 152.4 | 155.4 | 0.6 |
|_______________|_________|________|________|_____|
| Interval | 80.8 | 257.5 | 338.3 | 0.7 |
|_______________|_________|________|________|_____|
| RCT-55 | | | | |
|_______________|_________|________|________|_____|
| Ledbetter | | | | |
|_______________|_________|________|________|_____|
| Interval | 4.6 | 109.7 | 114.3 | 0.7 |
|_______________|_________|________|________|_____|
| Interval | 7.6 | 152.4 | 160.0 | 1.3 |
|_______________|_________|________|________|_____|
| Interval | 14.6 | 201.8 | 216.4 | 1.1 |
|_______________|_________|________|________|_____|
| DDH-344 | | | | |
|_______________|_________|________|________|_____|
| Ledbetter | | | | |
|_______________|_________|________|________|_____|
| Interval | 10.7 | 213.3 | 224.0 | 0.6 |
|_______________|_________|________|________|_____|
| Interval | 19.5 | 239.3 | 258.8 | 1.0 |
|_______________|_________|________|________|_____|
| Interval | 3.0 | 263.7 | 266.7 | 0.6 |
|_______________|_________|________|________|_____|
| Interval | 6.4 | 271.3 | 277.7 | 1.0 |
|_______________|_________|________|________|_____|
| DDH-345 | | | | |
|_______________|_________|________|________|_____|
| Ledbetter | | | | |
|_______________|_________|________|________|_____|
| Interval | 3.7 | 166.1 | 169.8 | 4.7 |
|_______________|_________|________|________|_____|
| Interval | 28.0 | 176.8 | 204.8 | 1.1 |
|_______________|_________|________|________|_____|
| RCT-125 | | | | |
|_______________|_________|________|________|_____|
|South Pit/Snake| | | | |
|_______________|_________|________|________|_____|
| Interval | 25.9 | 317.0 | 342.9 | 3.6 |
|_______________|_________|________|________|_____|
| Interval | 3.0 | 347.5 | 350.5 | 0.9 |
|_______________|_________|________|________|_____|
| Interval | 22.9 | 355.1 | 378.0 | 2.8 |
|_______________|_________|________|________|_____|
| RCT-127 | | | | |
|_______________|_________|________|________|_____|
|South Pit/Snake| | | | |
|_______________|_________|________|________|_____|
| Interval | 3.0 | 106.7 | 109.7 | 0.8 |
|_______________|_________|________|________|_____|
| Interval | 10.7 | 310.9 | 321.6 | 0.8 |
|_______________|_________|________|________|_____|
| Interval | 3.0 | 342.9 | 345.9 | 0.8 |
|_______________|_________|________|________|_____|
| Interval | 57.9 | 434.3 | 492.2 | 2.0 |
|_______________|_________|________|________|_____|
| Including | 6.1 | 458.7 | 464.8 |10.1 |
|_______________|_________|________|________|_____|
| Interval | 6.1 | 501.4 | 507.5 | 0.9 |
|_______________|_________|________|________|_____|
| Interval | 3.0 | 544.1 | 547.1 | 0.7 |
|_______________|_________|________|________|_____|
| Interval | 6.1 | 550.2 | 556.3 | 1.5 |
|_______________|_________|________|________|_____|
| RCT-82 | | | | |
|_______________|_________|________|________|_____|
| Snake | | | | |
|_______________|_________|________|________|_____|
| Interval | 4.6 | 155.4 | 160.0 | 0.8 |
|_______________|_________|________|________|_____|
| Interval | 7.6 | 184.4 | 192.0 | 5.0 |
|_______________|_________|________|________|_____|
| Interval | 4.6 | 271.3 | 275.9 | 0.8 |
|_______________|_________|________|________|_____|
| RC-1986 | | | | |
|_______________|_________|________|________|_____|
| Snake | | | | |
|_______________|_________|________|________|_____|
| Interval | 18.3 | 189.0 | 207.3 | 2.4 |
|_______________|_________|________|________|_____|
| Interval | 6.1 | 219.5 | 225.6 | 1.8 |
|_______________|_________|________|________|_____|
| Interval | 15.2 | 269.8 | 285.0 | 1.8 |
|_______________|_________|________|________|_____|
| Interval | 7.6 | 317.0 | 324.6 | 1.4 |
|_______________|_________|________|________|_____|
| Interval | 3.0 | 338.3 | 341.3 | 1.7 |
|_______________|_________|________|________|_____|
| Interval | 3.0 | 364.2 | 367.2 | 0.9 |
|_______________|_________|________|________|_____|
| Interval | 4.6 | 381.0 | 385.6 | 1.2 |
|_______________|_________|________|________|_____|
| RCT-57 | | | | |
|_______________|_________|________|________|_____|
|Snake/Horseshoe| | | | |
|_______________|_________|________|________|_____|
| Interval | 25.0 | 185.9 | 210.9 | 1.4 |
|_______________|_________|________|________|_____|
| Interval | 7.6 | 230.2 | 237.8 | 2.9 |
|_______________|_________|________|________|_____|
| RCT-91 | | | | |
|_______________|_________|________|________|_____|
|Snake/Horseshoe| | | | |
|_______________|_________|________|________|_____|
| Interval | 8.2 | 516.0 | 524.2 | 1.0 |
|_______________|_________|________|________|_____|
| Interval | 16.0 | 528.8 | 544.8 | 3.6 |
|_______________|_________|________|________|_____|
| Including | 4.9 | 531.6 | 536.5 | 8.6 |
|_______________|_________|________|________|_____|
| Interval | 4.5 | 557.8 | 562.3 | 2.7 |
|_______________|_________|________|________|_____|
| RCT-92 | | | | |
|_______________|_________|________|________|_____|
|Snake/Horseshoe| | | | |
|_______________|_________|________|________|_____|
| Interval | 26.8 | 450.2 | 477.0 | 4.1 |
|_______________|_________|________|________|_____|
| Including | 10.7 | 466.3 | 477.0 | 8.2 |
|_______________|_________|________|________|_____|
| Interval | 10.7 | 480.1 | 490.8 | 0.7 |
|_______________|_________|________|________|_____|
| RCT-22 | | | | |
|_______________|_________|________|________|_____|
| Horseshoe | | | | |
|_______________|_________|________|________|_____|
| Interval | 6.1 | 109.7 | 115.8 | 0.6 |
|_______________|_________|________|________|_____|
| RCT-30 | | | | |
|_______________|_________|________|________|_____|
| Horseshoe | | | | |
|_______________|_________|________|________|_____|
| Interval | 9.1 | 234.7 | 243.8 | 0.7 |
|_______________|_________|________|________|_____|
| RCT-44 | | | | |
|_______________|_________|________|________|_____|
| Horseshoe | | | | |
|_______________|_________|________|________|_____|
| Interval | 27.4 | 149.4 | 176.8 | 2.6 |
|_______________|_________|________|________|_____|
| Interval | 4.6 | 179.8 | 184.4 | 1.0 |
|_______________|_________|________|________|_____|
| Interval | 6.1 | 193.5 | 199.6 | 4.5 |
|_______________|_________|________|________|_____|
| Interval | 24.4 | 207.3 | 231.7 | 1.2 |
|_______________|_________|________|________|_____|
| Interval | 4.6 | 240.8 | 245.4 | 0.8 |
|_______________|_________|________|________|_____|
| Interval | 19.1 | 358.4 | 377.5 | 1.8 |
|_______________|_________|________|________|_____|
| Interval | 7.6 | 381.0 | 388.6 | 2.3 |
|_______________|_________|________|________|_____|
| Interval | 6.1 | 429.8 | 435.9 | 0.9 |
|_______________|_________|________|________|_____|
| RCT-79 | | | | |
|_______________|_________|________|________|_____|
| Horseshoe | | | | |
|_______________|_________|________|________|_____|
| Interval | 19.8 | 382.5 | 402.3 | 6.9 |
|_______________|_________|________|________|_____|
| Interval | 7.6 | 443.5 | 451.1 | 3.8 |
|_______________|_________|________|________|_____|
| Interval | 10.7 | 466.3 | 477.0 | 1.3 |
|_______________|_________|________|________|_____|
| RCT-80 | | | | |
|_______________|_________|________|________|_____|
| Horseshoe | | | | |
|_______________|_________|________|________|_____|
| Interval | 3.0 | 70.1 | 73.1 | 1.0 |
|_______________|_________|________|________|_____|
| Interval | 15.2 | 140.2 | 155.4 | 1.6 |
|_______________|_________|________|________|_____|
| Interval | 3.0 | 172.2 | 175.2 | 0.7 |
|_______________|_________|________|________|_____|
| Interval | 10.7 | 193.5 | 204.2 | 3.5 |
|_______________|_________|________|________|_____|
| Interval | 4.6 | 219.4 | 224.0 | 2.7 |
|_______________|_________|________|________|_____|
| Interval | 21.6 | 243.9 | 265.5 | 2.5 |
|_______________|_________|________|________|_____|
| Including | 4.3 | 251.7 | 256.0 | 7.6 |
|_______________|_________|________|________|_____|
| RCT-98 | | | | |
|_______________|_________|________|________|_____|
| Horseshoe | | | | |
|_______________|_________|________|________|_____|
| Interval | 12.2 | 371.9 | 384.1 | 0.7 |
|_______________|_________|________|________|_____|
| Interval | 32.9 | 393.2 | 426.1 |10.5 |
|_______________|_________|________|________|_____|
| Interval | 3.7 | 458.1 | 461.8 |29.2 |
|_______________|_________|________|________|_____|
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Romarco Minerals Inc.
| Diane Garrett, President and CEO Phone: 210-621-4200 E-mail: dgarrett@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