Romarco Drills 54.9 Meters Of 5.1 G/T Au At Haile
SPARKS, NV Ð Romarco Minerals Inc. reported assay results from several drill holes at the Haile Mine in
RC-1508 encountered 24.4 meters (80 feet) of 3.72 g/t Au (0.108 opt) 11 meters above another interval of 32 meters (105 feet) of 4.14 g/t Au (0.121 opt). RC-1509 encountered 15.2 meters (50 feet) of 1.53 g/t Au (0.045 opt), 38.1 meters (125 feet) of 1.95 g/t Au (0.057 opt), and 12.1 meters (40 feet) of 1.69 g/t Au (0.049 opt). RC-1510 intersected 24.4 meters (80 feet) of 1.32 g/t Au (0.039 opt) 46 meters above 54.9 meters (180 feet) of 5.11 g/t Au (0.149 opt). All of the control samples submitted with these holes were within acceptable ranges.
Diane Garrett, President and CEO stated "The Company is drilling 85,000 meters (270,000 feet) with four drill rigs this year. The size of the 2009 program is a clear indication of the continued upside potential that we believe exists at the Haile Gold Mine. In addition to work designed to expand the known resource along strike and within the open pit parameters, the Company will be drilling the first deep holes ever drilled on this property (in excess of 500 meters or 1,600 feet) to test potential mineralization at depth. Recent drill results suggest deep, higher grade potential may exist below the open-pit resource. The success and growth of the Haile Gold Mine over the past year is significant."
There are four drill rigs working at the site with double shifts on each rig. One rig is wholly owned by Romarco, the other three are contracted through Boart Longyear
The mineralized zone remains open in three directions (north, east, west) and open at depth. Currently, the property's mineralized zone is comprised of three modeled deposits (the South Pit, the North Pit - Ledbetter, and the Snake Pit). The 2009 program will test between these pit areas in order to merge them into one larger pit.
One rig is focused on step-out drilling in the North Pit (Ledbetter) to increase overall resources, the second rig is focused on in-fill drilling the North Resource area to convert resources to reserves, the third rig is focused on step-out drilling on the South Pit and Snake Pit, the fourth rig is drilling on the margin of pit walls to expand the pits. Condemnation drilling is also being performed to sterilize the plant and facilities sites. During the next six months, drilling will also be conducted for pit optimization and reducing the overall strip ratio.
While the additional drilling is being conducted, the Company is conducting optimization studies on various components of the recently completed feasibility study. This work includes, among other things, reviewing a potential increase in the plant size beyond the currently proposed 7,000 tons per day as well as the most efficient and optimal transport system (haul truck, conveying or combination) as the three known deposits merge into one pit.
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