Rocmec Mining

Published : February 28th, 2008

BEGINS A 1000 METRE DRILL CAMPAIGN IN PERU TO COMPLETE FINAL PHASE OF DUE DILIGENCE

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Press Release

 

Rocmec Mining Inc.                                                                                   Symbols: RMI: TSX-V

                                                                                                                                       D5O: FSE

 

 

ROCMEC BEGINS A 1000 METRE DRILL CAMPAIGN IN PERU TO COMPLETE FINAL PHASE OF DUE DILIGENCE

 

 

Pointe-Claire, Quebec, February 28th, 2008 – Rocmec Mining inc. (TSX-V Symbol: RMI - FSE Symbol: D5O) is pleased to announce the start of a diamond drilling campaign on the Puma mining concession in Peru. This campaign constitutes the final phase of the company's due diligence process. The 1000 metre diamond drilling campaign will take approximately 8 weeks and once completed, will enable Rocmec to produce a NI 43-101 resource calculation report. The results of the report coupled with the data obtained during the due diligence process will allow Management to decide whether to proceed with its purchase option agreement (see press release dated November 8th, 2007) and acquire the six concessions that form the Puma mining property and begin development which will lead thereafter to the start of gold production. The expiry date of the purchase option agreement has been extended from March 13th, 2008 to Mai 31st, 2008.

 

The objective of the work is to verify the continuity of the mineralised structures that were previously identified during underground sampling (see press release dated November 20th, 2007) and surface sampling (see press release dated January 15th, 2008) conducted by independent geologists.

 

Financing of the project, that also includes a 100tpd treatment plant will be secured by debenture financing. Talks are well underway with financial groups interested in the project and as part of their due diligence process representatives will conduct an on-site visit of the Puma property in March 2008. Terms and conditions of the debenture financing will be made public in a timely manner.

 

As part of its regular corporate updates, Management is pleased to report that it has significantly increased its efforts of introducing its thermal fragmentation process by way of service contracts within the mining industry. “On-site visits by interested parties to our Rocmec 1 property, which also serves to showcase our patented process, were held in December and February and we are confident that we will obtain our first service contract in the near future” stated Mr. Donald Brisebois, Rocmec’s President.

 

About the Puma property

The Puma property contains 6 narrow vein gold concessions covering 1,700 hectares and located approximately 80 km from the city of Arequipa, Peru. One of the concessions is currently in operation using small-scale traditional mining methods, producing about 10 tonnes of very high grade ore daily. All the necessary mining services are readily available and distance between the city and the properties is well traveled by an access road that is used daily to transport ore and mining materials to and from the site. Rocmec plans on developing the project with a Canadian partner, RSW-Beroma, who has been travelling extensively in Peru for the past three years especially in the Arequipa area evaluating the best gold properties.


 

Rocmec Mining's growth strategy is focused on developing quality assets that will significantly enhance shareholder value by using the thermal fragmentation method throughout the Americas to extract narrow vein ore bodies. By utilising the thermal fragmentation method in combination with conventional mining methods, the company aims to become a mid-tier gold producer. In addition, by providing service agreements, the company intends to generate additional revenue and accelerate the spread of this unique technology.

 

 

“Thermal fragmentation - the way of the future for mining narrow high-grade veins”

 

 

About Rocmec Mining

 

Rocmec Mining Inc. is a Canadian junior exploration company actively involved in the acquisition, exploration and development of precious metal projects. The Company's exclusive thermal fragmentation process combined with its growth strategy positions it as the partner of choice for the development of narrow high-grade precious metal quartz vein projects. The Company’s shares are listed on the TSX-Venture (RMI) and the FSE (D5O) exchange.

 

Please visit us on the web at www.rocmecmines.com

 

For further information, please contact


 

John Stella, Manager Investor Relations

(514)428-4185

Cell (514)718-7976

FAX (514)630-6989

jstella@rocmecmines.com

 

 

 

Statements in this release that are not historical facts are « forward-looking statements » within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results may vary materially from those in these « forward-looking statements ». The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

 

Rocmec Mining

PRODUCER
CODE : RMI.V
ISIN : CA7748324067
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Rocmec Mining is a gold producing company based in Canada.

Rocmec Mining holds various exploration projects in Canada and in Peru.

Its main asset in production is ROCMEC 1 (RUSSIAN KID) in Canada and its main exploration properties are GUILLET, RUSSIAN KID (EL COCO), MONTAUBAN and COURVILLE-MARUSKA in Canada and PUMA in Peru.

Rocmec Mining is listed in Canada. Its market capitalisation is CA$ 537 400 as of today (US$ 429 679, € 376 399).

Its stock quote reached its highest recent level on November 20, 2009 at CA$ 2.20, and its lowest recent point on September 23, 2022 at CA$ 0.01.

Rocmec Mining has 53 740 000 shares outstanding.

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Project news of Rocmec Mining
10/1/2009(Rocmec 1 (russian Kid))to unlock the potential of its Rocmec 1 property
1/21/2009(Rocmec 1 (russian Kid)) Progress at its Rocmec 1 Property
4/22/2008(Rocmec 1 (russian Kid))INTERCEPTES BOUCHER VEIN AND CUTS 132.21 G/T OVER 51 CM
3/12/2008ROCMEC STRIKES BOUCHER STRUCTURE FOR SEVENTH TIME AND INTERS...
12/18/2007(Puma)DUE DILIGENCE CONFIRMS EXTENSION OF NARROW HIGH GRADE VIEN S...
11/6/2007(Russian Kid (el Coco)) THIRD DIAMOND DRILL HOLE CONFIRMS SIGNIFICANT MINERALISED S...
10/30/2007 INTERSECTS 214 G/T GOLD OVER 2.4 M ON THE BOUCHER GOLD ZONE...
Corporate news of Rocmec Mining
5/26/2010TECHNOLOGIES PRESENTED ON THE INTERNATIONALE SCENE
3/18/2010TO TEST ITS THERMAL FRAGMENTATION MINING METHOD AT GO
10/20/2009ANNOUNCES REVENUES TOTALLING 1 MILLION FOR FISCAL 2009
8/18/2009to Commence Thermal Fragmentation Mining at Fresnillo's Cien...
8/11/2009PROVIDES UPDATE ON THERMAL FRAGMENTATION CONTRACT WITH GREAT...
5/21/2009 Signs MOU to operate and Option to acquire Rocmec 3 in Peru
12/16/2008INCREASES ITS FLEET OF THERMAL FRAGMENTATION UNITS
12/8/2008PROVIDES COMMISSIONG UPDATE OF ITS UNDERGROUND MILL AT ROCME...
11/4/2008OBTAINS ITS CERTIFICATE OF AUTHORISATION FOR ITS UNDERGROUND...
9/11/2008thermal fragmentation mining method enters the U.S. market
8/7/2008CUTS 20.3 G/T AU OVER 1.8 METRES AT ROCMEC 1
8/1/2008Releases a Video Demonstration of the Thermal Fragmentation ...
6/26/2008OBTAINS PATENTS FOR THERMAL FRAGMENTATION IN AUSTRALIA
5/27/2008CUTS 22.35 G/T OVER 1.2 METRES AT ROCMEC 1
5/13/2008 INTRODUCES THERMAL FRAGMENTATION PROCESS AT SYMPOSIUM HELD ...
4/30/2008 ACQUIRES MILLING PLANT FOR ITS ROCMEC 1 GOLD PROPERTY
4/8/2008 UPDATES PROGRESS ON PERUVIAN ACQUISITION PROJECT
2/28/2008 BEGINS A 1000 METRE DRILL CAMPAIGN IN PERU TO COMPLETE FINA...
12/11/2007DRILL CAMPAIGN CONTINUES INTERSECTING THE BOUCHER GOLD ZONE
11/20/2007 ANNOUNCES VERY POSITIVE RESULTS FROM ITS FIRST SAMPLING IN ...
11/13/2007 SELECTS AN OFFICIAL KUBOTA DISTRIBUTOR TO BUILD ITS THERMAL...
11/8/2007SIGNS OPTION TO ACQUIRE 6 NARROW VEIN GOLD CONCESSIONS IN PE...
10/4/2007French Government approval received
8/29/2007GROWING PROCESS IN MINING WORLD
6/27/2007Intercepts Several New Gold Structures at Rocmet 1 Property
6/8/2007Signs a Major Development Contract for the Rocmec 1 Property
6/2/2006Obtains a $2,000,000 gold loan
4/4/2006acceptance of Canadian patent
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