Romarco Returns 34 Meters Of 5.3 g/t Au
RC-1547 encountered 33.5 meters (110 feet) of 5.32 g/t Au (0.155 opt) and intersected the mineralized zone 45.7 meters (150 feet) northeast of previous drilling. RC-1547 is a step-out hole drilled northeast of the Snake deposit and represents the first assays received from 2009 drill program designed to test expansion of the Haile mineralization corridor to the east The mineralization was hosted in typical Haile silicified metasediments. The mineralization in this hole will be open-pitable and extends the Snake pit wall to the East but also indicates higher grades are being encountered at depth. Romarco's team is focusing additional drilling to identify the extent of this Snake expansion zone and its impact on proposed locations of waste dumps and stockpiles under the current mine plan.
Diane Garrett, President and CEO stated "We are very excited about these recent drill results and the continued expansion of the mineralized corridor at Haile. This corroborates our view that significant additional mineral potential exists and that we are developing a gold district in this portion of the Slate Belt of South Carolina. The Company remains focused on its strategy of acquiring more lands along strike with known gold mineralization and favorable host rock".
Due to the significant amount of drilling occurring at Haile and the recent slowing of assay turn-around time, the Company is planning to establish a sample prep lab on site which will allow the Company to prep the samples for assay prior to sending to the independent lab. This will expedite assay results which are needed by the Company's technical team in determining additional drill locations.
The Company has four reverse circulation drill rigs working on site. The 2009 drilling program consists of step-out drilling to identify new resources and expand the known mineralized zone, in-fill drilling to convert inferred resources into measured and indicated, and condemnation drilling to test for gold mineralization under proposed plant and facility sites. The current mineralized zone remains open in all directions and at depth.
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