TORONTO
,
Jan. 11
/PRNewswire-FirstCall/ - ROMARCO MINERALS INC. (TSXV: R) (the "Company") is pleased to announce its 2010 exploration drilling program at its 100% owned Haile Gold Mine in
South Carolina, USA
. The 2010 exploration drilling program will consist of approximately130,000 meters (426,000 feet). This represents a 78% increase over the 2009 drilling program of 73,000 meters (239,000 feet). The Company will maintain the five drill rigs currently on site throughout 2010 (four reverse circulation and one core rig). This significant drilling program substantiates what Romarco's team continues to see as additional upside potential at the Haile Gold Mine. The mineralized footprint at Haile remains open in all directions and at depth. The Company is currently in the process of a feasibility study at Haile with plans to move toward operations. The Company also expects to be conducting exploration drilling for several years recognizing the district potential that exists at Haile.
During 2009, the Company focused on both step out drilling to expand the overall mineralized footprint at Haile and in-fill drilling to convert inferred ounces to measured and indicated. The results of the 2009 exploration program were successful in both objectives as the Company doubled resources from 2008 and demonstrated that the mineralization is a very large continuous system (see press release dated
October 28, 2009
). The majority of the drilling was focused on the east portion of the land package which hosts the Ledbetter and Snake deposits as well as in-fill drilling between all three deposits. Very little drilling was completed on the west side of the property (South Pit and to the west). The 2010 program will be performed across the entire property as well as recently acquired targets in the Buzzard area (6 miles NE along strike and recently acquired target areas (Small and Champion) that are adjacent to the South Pit to the north and west of the current reserve.
Romarco's 2009 exploration drilling program was initiated in
March 2009
and was budgeted for 85,000 meters (278,000 feet) however only 73,000 meters (239,000 feet) were completed by
December 31, 2009
(a 10 month program). The shortfall was primarily due to the company drilling condemnation, water and geotechnical holes near year- end.
With five drill rigs on site the current program is designed to identify additional resources and convert resources into proven and probable reserves across the entire mine property. 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
and checks are performed by ALS Chemex in
Reno, NV.
Romarco's Qualified Person under NI-43-101 is
Peter J. Butterfield
.
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 undergoing exploration drilling, bankable feasibility study and permitting. 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
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"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.
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