Romarco drills 35.1 meters of 2.9 g/t gold in condemnation hole
TRADING SYMBOL: TSX: R
TORONTO, Feb. 18 /CNW Telbec/ - ROMARCO MINERALS INC. (TSXV: R) (the
"Company") is pleased to announce recent assay results from its ongoing
exploration and condemnation drilling programs at the Haile Gold Mine in South
Carolina. The Company has predominately been drilling condemnation holes for
the past two months and these assays are being prioritized over the
exploration assays as this is a critical path item for the feasibility study
currently underway.
Although the volume of mineralized material is unknown at this time, the
results from the condemnation drilling continue to demonstrate the upside
potential of the Haile gold resource. Condemnation drilling to the north and
east has identified gold mineralization well beyond the known mineralization
at Haile (see selected results and details below) and has established new
targets in these directions.
Hole RC-1732 encountered a significant intercept and contained
hydrothermally silicified zones which are a signature of the Haile
mineralization system. In addition, one hole that was drilled as part of the
site hydrogeologic characterization yielded positive results as well as an
in-fill exploration drill hole.
The condemnation hole RC-1732 was drilled 350 meters (1150 feet)
east-northeast from the known mineralization of the Haile corridor. RC-1732
encountered several zones of mineralization beginning 214.9 meters (705 feet)
down the hole. Assays results from the upper and lower portions of the hole
are still pending and the true thickness of the zone is yet to be determined.
Highlights of the mineralization encountered two intervals of 24.4 meters (80
feet) of 2.0 g/t (0.058 opt) Au and 35.1 meters (115 feet) of 2.9 g/t (0.085
opt) Au. The Company is now drilling a fan of holes around RC-1732 to
determine the extent of this mineralization. RC-1667 was drilled as a
piezometer hole (for site hydrogeologic characterization) which encountered
21.3 meters (70 feet) of 3.1 g/t (0.090 opt) Au. The mineralization in RC-1667
is between two previous intercepts that were 90 meters (300 feet) apart.
RC-1670 was designed as an in-fill hole which encountered 35.1 meters (115
feet) of 2.3 g/t (0.066 opt) Au.
Holes RC-1678 and RC-1687 were condemnation holes drilled over 365 meters
(1,198 feet) northeast of the far eastern edge of the Haile mineralized
corridor. Both of these holes encountered gold mineralization within
hydrothermally-silicified, pyrite-molybdenite bearing metasediments. Due to
the angle of the hole the actual depths were at 375 meters (1,230 feet), 387
meters (1,270 feet), and 397 meters (1,301 feet) in RC 1678. RC-1687 was
drilled 85 meters (280 feet) southeast of RC1678. The two intercepts in
RC-1687 were located at 335 meters (1,100 feet) and 356 meters (1,170 feet)
below the surface due to the angle of the hole.
The results of these holes are summarized in the table below:
<<
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Hole Interval From To Gold
(meters) (meters) (meters) (g/t)
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RC-1732 - upper interval pending assay
Condemnation
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Interval 24.4 214.9 239.3 2.0
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Interval 3.0 242.3 245.3 0.9
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Interval 3.0 249.9 252.9 1.0
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Interval 3.0 256.0 259.0 0.7
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Interval 7.6 262.1 269.7 1.9
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Interval 3.0 272.8 275.8 1.7
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Interval 35.1 280.4 315.5 2.9
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Interval 4.6 335.3 339.9 2.9
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lower interval pending assay
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RC-1667 -
Hydrogeologic
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Interval 21.3 170.7 192.0 3.1
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RC-1670 -
In-fill
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Interval 35.1 211.8 246.9 2.3
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RC-1678 -
Condemnation
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Interval 1.5 406.9 408.4 2.0
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Interval 4.6 423.7 428.2 2.5
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Interval 1.5 438.9 440.4 1.2
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RC-1687 -
Condemnation
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Interval 7.6 349.0 356.6 1.2
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Interval 3.0 378.0 381.0 7.8
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>>
Drilling is being performed by Boart Longyear, Romarco's company owned
drill, and Connors drilling (core rig). The drill samples are being assayed by
Alaska Assay Labs in Fairbanks, AK. Blank samples as well as third party
standards were submitted with all of the drill holes. The results of the
control samples were within acceptable ranges within and adjacent to the
mineralized zones. Romarco's Qualified Person under NI-43-101 is Peter J.
Butterfield.
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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
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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"
-30-
/For further information: Romarco Minerals Inc.: Diane Garrett, President
and CEO, (210) 621-4200, dgarrett@romarco.com; Victoria Vargas, V.P., Investor
Relations, (416) 367-5500, vvargas@romarco.com; Renmark Financial
Communications Inc.: Dan Symons, (514) 939-3989,
dsymons@renmarkfinancials.com/
