Romarco encounters 60.7 meters of 11.9 g/t gold - "New best hole ever"
TRADING SYMBOL: TSX: R
TORONTO, April 28 /PRNewswire-FirstCall/ - ROMARCO MINERALS INC. (TSXV: R) (the "Company") is pleased to announce additional assay results and partial results from drilling at the Haile Gold Mine, in South Carolina. The results are from step-out drilling of the newly discovered Horseshoe zone and step-out drilling north and west of the South pit.
Reverse circulation holes with core extensions ('tails") are now being drilled at the Horseshoe zone in order to better characterize the mineralization. These holes are given the prefix "RCT". Partial results are given below for RCT-004 because only the upper portion of the hole has been assayed to date. Assay results for the lower portion of hole RCT-004 are pending. RCT-003 intersected the mineralized zone 37 meters (120 feet) below and 12 meters (40 feet) northeast of RC-1724 (62.5meters of 9.6 g/t gold announced March 1, 2010). RCT-004 encountered the Horseshoe zone 40 meters (130 feet) below and 58 meters (190 feet) to the southwest of RC-1724. The intercept in RCT-004 significantly extends the Horseshoe zone westerly towards Snake. The actual depth of the mineralization in RCT-004 begins 381 meters (1250 feet) below the surface. The results of the holes are given in the table below. The true thickness of the mineralization remains undetermined. Additional drilling is required to determine the extent and orientation of the Horseshoe zone. The Company is drilling an initial ten hole program designed around RC-1724 which was the discovery hole at Horseshoe.
The Company also announces results from step-out holes to the west of the South pit (located on the western portion of the property) which indicate the mineralization is expanding to the west of the known mineralized zone at Haile. RC-1747 encountered 10.7 meters of 4.1 g/t gold and was drilled 30 meters (100 feet) southwest of RC-1517 (10.7 meters of 6.4 g/t gold announced November 23, 2009). RC-1748 intersected the mineralized zone 35 meters (115 feet) southeast of RC-1517. RC-1749 encountered 16.8 meters of 11.3 g/t gold and was drilled to determine the extents of mineralization in RC-1424 (29 meters of 2.4 g/t gold). RC-1749 encountered the mineralized zone 30 meters (100 meters) south west of RC-1424. The reported intervals are close to the true thickness of the mineralized zone at the South pit area. The results of these holes are given in the table below.
-------------------------------------------------------------------------
Hole Interval From To Gold
(meters) (meters) (meters) (g/t)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
RCT-003 - Horseshoe
-------------------------------------------------------------------------
Interval 4.9 420.6 425.5 0.9
-------------------------------------------------------------------------
Interval 14.8 430.2 445.0 1.8
-------------------------------------------------------------------------
RCT-004 - Horseshoe
-------------------------------------------------------------------------
Interval 60.7 449.6 510.3 11.9
-------------------------------------------------------------------------
-------------------------------------------------------------------------
RC-1747 - South Pit
-------------------------------------------------------------------------
Interval 3.0 35.1 38.1 0.8
-------------------------------------------------------------------------
Interval 3.0 85.4 88.4 1.7
-------------------------------------------------------------------------
Interval 3.0 93.0 96.0 0.7
-------------------------------------------------------------------------
Interval 10.7 120.4 131.1 4.1
-------------------------------------------------------------------------
Interval 9.1 153.9 163.0 1.0
-------------------------------------------------------------------------
Interval 12.2 167.6 179.8 0.8
-------------------------------------------------------------------------
RC-1748 - South Pit
-------------------------------------------------------------------------
Interval 4.6 74.7 79.3 3.7
-------------------------------------------------------------------------
Interval 16.8 112.8 129.6 1.6
-------------------------------------------------------------------------
Interval 4.6 132.6 137.2 1.0
-------------------------------------------------------------------------
Interval 7.6 153.9 161.5 0.9
-------------------------------------------------------------------------
Interval 4.6 199.6 204.2 1.8
-------------------------------------------------------------------------
RC-1749 - South Pit
-------------------------------------------------------------------------
Interval 16.8 184.4 201.2 11.3
-------------------------------------------------------------------------
Interval 3.0 207.3 210.3 0.8
-------------------------------------------------------------------------
Interval 3.0 234.7 237.7 1.4
-------------------------------------------------------------------------
Feasibility Study Update
------------------------
Condemnation drilling has been undertaken for the past three months in order to establish a tailings site location in connection with the feasibility study currently underway. Through this condemnation drill program the Company discovered a new mineralized zone named Horseshoe (announced March 1, 2010). The tailings site location is a critical path item for completion of the feasibility study and the Company is currently drilling the fifth proposed site. The feasibility study was originally scheduled to be completed by June 2010, however positive drilling results are impacting this schedule. The on-going condemnation drilling, receipt of assays and interpretation of this data will take several months. In addition, the Company has determined it should complete its initial drill program at Horseshoe designed to test the extent and orientation of this new zone and plans to include this in the current feasibility study. The Company now expects the feasibility study to be completed by the end of 2010 assuming a satisfactory tailings site location can been identified and condemned.
Currently five drill rigs are operating at the site. 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 were inserted at random and submitted with all of the drill samples. The results of the control samples were 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.
Share this article