ROMARCO
INTERSECTS 36.3 METERS OF 5.5 G/T GOLD AT HORSESHOE AND 7.6 METERS OF 24.1 G/T
GOLD AT SOUTH PIT
TORONTO, May 2
/CNW Telbec/ - ROMARCO
MINERALS INC. (TSX: R) (the "Company") is pleased to
announce updates on drill results, permitting, and recent awards presented to
senior management by community organizations.
To date, the Company has completed
approximately 33 percent of its planned 172,000-meter drilling campaign and is
on schedule and budget for 2011 targets. A total of eleven drill rigs (seven core and four reverse circulation) are drilling throughout
the Haile property. Drilling will continue through the permitting process and
construction phase, and the Company anticipates it will take many years to
drill test the exploration opportunities identified within the Haile district.
The results in this release continue to demonstrate the sustained growth and
continuity of the mineralized system at Haile, which remains unconstrained in
all directions and at depth.
Infill drilling at Horseshoe returned
21.9 meters of 5.7 g/t gold, and 36.3 meters of 5.5 g/t gold from RCT-56 and an
additional 13.1 meters of 4.1 g/t gold from RCT-41. In the western portion of
South Pit within the higher-grade area of Mill Zone, RC-1916 encountered 9.1
meters of 14.2 g/t gold and RC-1959 returned 38.1 meters of 4.1 g/t gold,
including 9.1 meters of 9.5 g/t. Additionally, RC-1910 returned 24.4 meters of
3.1 g/t gold.
Drilling between South Pit and Ledbetter
continues to identify mineralization between the two proposed pits. Results
from drilling in this area are highlighted by RCT-69, which returned 76.2
meters of 1.7 g/t gold, 21.3 meters of 2.0 g/t gold, and several additional
mineralized intervals noted in the table below. Other holes drilled between the
proposed pits and detailed below include RC-1934, RCT-36, and DDH-386. Drilling
within the planned permit area between South Pit and Ledbetter continues to
define significant mineralization beyond the current reserve pit boundaries and
demonstrates further continuity between these zones.
In Champion, DDH-356 intercepted 6.1
meters of 1.5 g/t gold at the surface and an additional 12.2 meters of 1.1 g/t
gold at 91.4 meters downhole. The Champion zone is
located approximately 1 kilometer west of South Pit. Additional drilling within
the planned permit area is expected to continue defining the extent of this
mineralization outside of the pit boundaries.
To view a table of selected drill results,
see appendix.
Plan view maps are available on the
homepage of the Company's website: www.romarco.com
Permitting Update
The Company has recently held several
meetings with various agencies in connection with the standard permitting
process in the State of South Carolina. Consistent with its corporate
environmental practice and philosophy, the Company will continue to work closely
with the South Carolina Department of Health and Environmental Control
("DHEC"), the agency having jurisdiction and authority over the State
Mine Operating Permit and the 401 Water Quality Certification and the US
Army Corps of Engineers ("USACE") having jurisdiction and
authority over the Federal 404 Permit. The other agencies, including the US
Environmental Protection Agency ("EPA"), are commenting
agencies and the Company is in dialogue with them to provide additional
information concerning the scope and extent of the planned, state of the art
gold mine to be located in Lancaster County, South Carolina. The areas to be
mined are located beneath wetlands and streams degraded from historical mining
onsite. As part of the project, the Company's mining efforts will avoid many of
the streams and wetlands onsite. Those that are
impacted will be re-established, improved and upgraded through restoration
during the reclamation phase and Romarco will
preserve more valuable, non-degraded wetlands and streams in the eco-region as
part of its mitigation plan.
Operations Update
Romarco is pleased to announce that it is on budget and
schedule in the construction of its previously announced analytical and
metallurgical lab (see news release dated November 9, 2010). The
laboratory will be seeking independent accreditation and will transition to the
operating lab on production. While third-party check assays and verifications
will remain critical, the completion of the lab will allow greatly reduced
turnaround time for assays. The lab is on schedule to become operational in June
2011.
The Company has been involved in the
detailed design and engineering phase and is currently on schedule and budget.
Specifications for the grinding mills have been completed and have gone out for
bid.
Community Update
Romarco would like to congratulate two of its team members
for their recent awards:
Diane Garrett, President & CEO and David Thomas, VP
& General Manager at Haile each received the 2011 Citizen of the Year Award
by the Kershaw Chamber of Commerce for dedication and service to the
town and community. In addition, Mr. Thomas received the 2011 Community
Citizenship Award by the Mining Association of South Carolina. The
Company is honored to have its members involved in strong community support,
reflecting the core values within our organization.
These awards are presented annually by
the Kershaw Community
and the Mining Association of South Carolina in recognition of
outstanding community participation involving education, volunteerism, and
contributions toward quality of life improvements.
Photos of the awards can be viewed on
the homepage of the Company's website: www.romarco.com
Sample Procedure
Drilling is being performed by Romarco's company owned drills (4 core, 1 reverse
circulation), by Connors Drilling, and by Boart Longyear.
The drill samples are prepared and assayed by Alfred H. Knight Group
(formerly named Alaska Assay Laboratory). Samples are prepared at
their facility in Spartanburg,
SC and assaying is completed in Fairbanks,
AK. Blank samples and third party standards are inserted at random for
submittal with all of the drill samples. The results of the control samples are
within acceptable ranges. Periodic duplicate and check samples are analyzed by ALS
Chemex in Reno, NV. For a full
discussion of the Company's sampling, analysis, quality assurance, quality
control, and other technical disclosure, please see the Company's National
Instrument ("NI") 43-101 Feasibility Technical Report dated February
10, 2011 on SEDAR. Romarco's Qualified Person
under NI 43-101 is Peter J. Butterfield, senior geologist at
Haile.
About Romarco Minerals
Inc.
Romarco Minerals Inc. is a gold development company
focused on production primarily in the US. The Company has completed a positive
Feasibility study and is continuing exploration drilling and permitting for its
flagship project, the Haile Gold Mine in South
Carolina.
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
FORWARD-LOOKING
INFORMATION
This Press Release contains
"forward-looking information" that is based on Romarco's
expectations, estimates and projections as of the dates as of which those
statements were made. This forward-looking information includes, among other
things, statements with respect to the Company's business strategy, plans,
outlook, drilling activity, costs savings, expenditures for environmental
matters, reclamation and other post closure obligations and estimated future
expenditures for those matters, and completion dates for the various
development stages of mines. Generally, this forward-looking information can be
identified by the use of forward-looking terminology such as
"outlook", "anticipate", "project",
"target", "believe", "estimate",
"expect", "intend", "should",
"scheduled", "will", "plan" and similar
expressions. Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause Romarco's
actual results, level of activity, performance or achievements to be materially
different from those expressed or implied by such forward-looking information,
and developed based on assumptions about such risks, uncertainties and other
factors set out herein, including but not limited to:
·
inherent
uncertainties associated with exploration and development activities;
·
risks
associated with Romarco's operations being subject to
significant environmental laws and regulations, including change in
governmental regulation;
·
uncertainties
related to recent market events;
A discussion of these and other factors
that may affect Romarco's actual results,
performance, achievements or financial position is contained in the filings by Romarco with the Canadian provincial securities regulatory
authorities, including Romarco's Annual Information
Form. Forward-looking statements are based on assumptions management believes
to be reasonable, including but not limited to the continued operation of Romarco's mining operations, no material adverse change in
the market price of commodities, that the mining operations will operate in
accordance with Romarco's public statements and
achieve its stated production outcomes, and such other assumptions and factors
as set out herein. Although Romarco has attempted to
identify important factors that could cause actual results to differ materially
from those contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended. There can be
no assurance that forward-looking statements will prove to be accurate.
Accordingly, readers should not place undue reliance on forward-looking
statements. Romarco disclaims any intent or
obligations to update or revise publicly any forward-looking statements whether
as a result of new information, estimates or options, future events or results
or otherwise, unless required to do so by law.
ROMARCO MINERALS INC.
TABLE OF SELECTED DRILL HOLES
Hole
|
Interval
(meters)
|
From
(meters)
|
To
(meters)
|
Gold
(g/t)
|
DDH-356
|
|
|
|
|
Champion
|
|
|
|
|
Interval
|
6.1
|
0
|
6.1
|
1.5
|
Interval
|
12.2
|
91.4
|
103.6
|
1.1
|
RC-1910
|
|
|
|
|
Mill
Zone
|
|
|
|
|
Interval
|
6.1
|
41.1
|
47.2
|
0.6
|
Interval
|
4.6
|
65.5
|
70.1
|
1.1
|
Interval
|
3.0
|
187.5
|
190.5
|
0.7
|
Interval
|
24.4
|
198.1
|
222.5
|
3.1
|
Interval
|
6.1
|
234.7
|
240.8
|
0.7
|
RC-1916
|
|
|
|
|
Mill
Zone
|
|
|
|
|
Interval
|
3.0
|
42.7
|
45.7
|
0.7
|
Interval
|
4.6
|
118.9
|
123.5
|
0.7
|
Interval
|
9.1
|
227.1
|
236.2
|
14.2
|
Interval
|
3.0
|
281.9
|
284.9
|
1.6
|
RC-1959
|
|
|
|
|
Mill
Zone
|
|
|
|
|
Interval
|
3.0
|
6.1
|
9.1
|
0.7
|
Interval
|
38.1
|
99.1
|
137.2
|
4.1
|
Including
|
9.1
|
111.3
|
120.4
|
9.5
|
RC-1934
|
|
|
|
|
South Pit
|
|
|
|
|
Interval
|
6.1
|
68.6
|
74.7
|
0.7
|
Interval
|
3.0
|
153.9
|
156.9
|
0.6
|
Interval
|
27.4
|
179.8
|
207.2
|
0.9
|
Interval
|
6.1
|
214.9
|
221.0
|
0.9
|
RCT-36
|
|
|
|
|
South Pit
|
|
|
|
|
Interval
|
3.0
|
61.0
|
64.0
|
0.6
|
Interval
|
7.6
|
73.2
|
80.8
|
1.4
|
Interval
|
10.7
|
182.9
|
193.6
|
1.0
|
Interval
|
9.1
|
277.4
|
286.5
|
0.6
|
RCT-61
|
|
|
|
|
South Pit
|
|
|
|
|
Interval
|
4.7
|
167.7
|
172.4
|
0.8
|
Interval
|
10.1
|
180.1
|
190.2
|
4.6
|
Interval
|
6.1
|
195.1
|
201.2
|
0.8
|
Interval
|
4.3
|
207.5
|
211.8
|
0.9
|
Interval
|
7.6
|
217.9
|
225.5
|
1.1
|
Interval
|
4.6
|
234.7
|
239.3
|
1.1
|
Interval
|
24.2
|
247.1
|
271.3
|
1.3
|
Interval
|
19.7
|
277.5
|
297.2
|
0.9
|
Interval
|
5.2
|
306.0
|
311.2
|
0.7
|
Interval
|
3.7
|
333.1
|
336.8
|
1.0
|
Interval
|
11.5
|
355.0
|
366.5
|
6.8
|
Including
|
2.1
|
363.4
|
365.5
|
31.4
|
Interval
|
2.4
|
371.0
|
373.4
|
5.9
|
Interval
|
29.0
|
413.0
|
442.0
|
1.2
|
RCT-69
|
|
|
|
|
South Pit
|
|
|
|
|
Interval
|
13.7
|
12.2
|
25.9
|
2.9
|
Including
|
6.1
|
12.2
|
18.3
|
4.8
|
Interval
|
3.0
|
33.5
|
36.5
|
0.9
|
Interval
|
76.2
|
230.1
|
306.3
|
1.7
|
Interval
|
21.3
|
326.1
|
347.4
|
2.0
|
DDH-386
|
|
|
|
|
South Pit
|
|
|
|
|
Interval
|
16.2
|
127.1
|
143.3
|
0.7
|
Interval
|
5.4
|
225.3
|
230.7
|
0.7
|
Interval
|
4.3
|
252.1
|
256.4
|
2.2
|
DDH-389
|
|
|
|
|
South Pit
|
|
|
|
|
Interval
|
4.4
|
195.2
|
199.6
|
0.6
|
Interval
|
4.6
|
226.1
|
230.7
|
0.6
|
Interval
|
32.0
|
239.3
|
271.3
|
1.4
|
Interval
|
6.1
|
274.3
|
280.4
|
0.9
|
Interval
|
7.6
|
292.6
|
300.2
|
24.1
|
Including
|
1.5
|
297.2
|
298.7
|
87.1
|
Interval
|
3.0
|
336.8
|
339.8
|
5.7
|
Interval
|
3.4
|
374.2
|
377.6
|
2.8
|
Interval
|
3.9
|
382.3
|
386.2
|
6.8
|
Interval
|
3.1
|
388.6
|
391.7
|
1.4
|
RCT-41
|
|
|
|
|
Horseshoe
|
|
|
|
|
Interval
|
3.0
|
228.6
|
231.6
|
1.4
|
Interval
|
4.6
|
368.8
|
373.4
|
0.9
|
Interval
|
13.1
|
402.3
|
415.4
|
4.1
|
Interval
|
4.6
|
435.8
|
440.4
|
0.6
|
RCT-56
|
|
|
|
|
Horseshoe
|
|
|
|
|
Interval
|
3.0
|
153.9
|
156.9
|
3.0
|
Interval
|
4.6
|
167.6
|
172.2
|
0.6
|
Interval
|
5.6
|
174.5
|
180.1
|
0.9
|
Interval
|
20.6
|
187.4
|
208.0
|
1.6
|
Interval
|
4.6
|
347.5
|
352.1
|
1.0
|
Interval
|
2.7
|
361.5
|
364.2
|
1.2
|
Interval
|
2.3
|
369.1
|
371.4
|
2.3
|
Interval
|
9.6
|
378.7
|
388.3
|
1.4
|
Interval
|
21.9
|
393.2
|
415.1
|
5.7
|
Interval
|
36.3
|
419.4
|
455.7
|
5.5
|
Interval
|
6.1
|
469.4
|
475.5
|
0.8
|
Interval
|
7.9
|
487.7
|
495.6
|
0.8
|