Romarco Minerals Inc

Emerging Gold producer - South Carolina, Nevada & Mexico

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Romarco Minerals Inc Profile

Romarco Minerals Inc., Vancouver, B.C., TSX.V : R., is an emerging gold producer.

It's flagship project, the Haile Gold Mine in South Carolina, is currently undergoing bankable feasibility, permitting and continued exploration.

South Carolina - Haile

The Haile Gold Mine has a measured and indicated resource of 1.5 million ounces au and an additional inferred resource of 687,000 ounces au (see NI 43-101).

The Company has added significantly to the resource base during 2008 and the mineralized zone continues to be open in three directions (North, East and West).

A team of 17 are currently employed at the Haile Gold Mine, conducting exploration activities, resource modeling, permitting and mine planning.

A total of 52 holes were drilled in 2008 with assays received and reported for 45 holes to date. Of those 45 holes:

  • 87% returned more than 3 g/t gold over the mineralized interval
  • 94% returned more than 1 g/t gold over the mineralized interval
  • 60% returned more than 30 meters of 2.5 g/t gold
  • 25% returned more than 30 meters of 4.0 g/t gold

Mexico

The Pinos Gold District in Mexico is a high grade epithermal vein district in the advanced exploration stage.

The project has a rich history of high grade gold and silver production and Romarco is focused on establishing modern day production potential. A comprehensive drill program is currently underway.

Nevada

The Company also holds two exploration projects in Nevada and is focused on growing its portfolio with near term producing assets in both North and South America.

Looking forward:

With $10 million in cash, no debt, strong institutional support and an experienced management team, Romarco is uniquely positioned for adding value for its shareholders over the coming months and years.

Exploration Plans

Romarco's initial plan was to drill 22,000 meters in 2009, nearly three times the drilling completed in 2008.

However, now the Company is making plans to increase this year's program to 85,000 meters through the addition of a second rig and double shifts on each rig. Two-thirds of the drilling this year will be step-out exploration holes in known mineralized areas adjacent to the deposits. The balance of the drilling will be in-fill to convert measured and indicated resources into reserves.

To date, the Company has focused its exploration in the highly prospective North Resource Area which remains open in three directions and at depth. Feasibility study related mine design has also shown substantial potential targets exist on other areas of the property.

These targets are adjacent to the South Pit (to the north and west of the current reserve), the Snake Pit on the east side of the property, mineralized potential at depth, as well as targets identified on the newly acquired land parcels along strike. The current land package hosts 3.2 kilometers of strike length.

Development Plans

The development plan is to commence detailed engineering concurrently with securing the remaining permits. Coincident with obtaining permits, plant construction will start early in the second quarter of 2010 with project completion targeted for mid-year 2011.

Even after gold production begins at Haile, the Company anticipates exploration drilling to continue for several years.

The Feasibility Study was based on a proven reserve of 7.3 million tonnes averaging 2.52 g/t gold and a probable reserve of 10.5 million tonnes averaging 2.05 g/t gold. The combined proven and probable reserve as of October 2008 is 1.3 million ounces of gold at 2.24 g/t

Warrants held by Sun Valley, US Global, Kinross and Sprott

Last changed at 14-Apr-2013 01:48AM by SMF069