Romarco Expands Drilling At Haile
INC. (TSXV: R) (the
�Company�) is pleased to announce that it has received approval for an
additional 60,000 feet (18,288 meters) of drilling at the Haile Gold Mine.
This represents approximately 65 additional holes at a 700 feet (213 meters)
average depth. In this expanded drill program, the Company will be
conducting in-fill drilling, step out drilling and deep drilling to test the
down-dip extensions of mineralized zones by drilling some holes to depths of
1500 feet (457 meters). To compliment its current drill program and
increase the rate of drilling and results, the Company will be adding an RC
drill rig to its current program prior to year end. To date, the
Company has completed more than 27,000 feet (8,250 meters) of core drilling
and drilling will continue on the property for the next 12 months and perhaps
A new NI 43-101 report will
be available in October. The current NI 43-101 report filed on SEDAR is
now outdated (outmoded) by the new technical knowledge we have gained
from the drilling, assaying, metallurgical testing and engineering study work
completed over the last 10 months. The previous 43-101 technical report
was completed by Behre Dolbear of Denver, CO when Romarco acquired the Haile
Gold Mine from Kinross Gold and another private party (October 2007).
The technical report was based on historic information and data from Amax
Gold in the early 1990�s.
The Company�s extensive work
through confirmation drilling, exploration drilling, metallurgical testing
and various engineering studies over the last 10 months has evolved
into a more effective and much more positive mine plan for Haile. Some
of the significant items to be updated in the new 43-101 include a near
doubling of the measured and indicated gold resources from 780,000 (historic
resource by Amax) to a current 1.5 million ounce resource (see press release
dated September 4, 2008 and detailed table on the website at
www.romarco.com). Additionally, the original 6 deposits noted in the
Amax work, have been assimilated into the 3 current modeled deposits. The
larger merged deposits enhance the economics of the project. The
Company anticipates 2 new deposits may emerge from continued exploration
drilling. Detailed metallurgical recoveries, gold to silver ratios, mine
design, process design, detailed cost figures and production profiles are
being finalized and will be reported in October, which will illustrate that
the overall economic feasibility of Haile has improved significantly.
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 undergoing exploration drilling, bankable feasibility study and
permitting. The Pinos Gold District in Mexico is a high grade epithermal vein
district in the advanced exploration stage. The Company also has two gold
exploration projects in Nevada.
Some of the statements
contained in this press release are forward-looking statements and not
statements of fact. Such statements are based on the current beliefs of
management, as well as assumptions based on management information currently
available. Forward-looking statements are subject to various risks,
uncertainties and other factors that could cause actual results to differ
materially from expected results. We seek safe harbor. For further
information, please contact Diane Garrett, President and C.E.O. at (830)
624-6249 or by e-mail at firstname.lastname@example.org or
Shirene Urton, Executive Assistant at (775) 355- 1900 or by e-mail at email@example.com
ON BEHALF OF ROMARCO MINERALS INC.
�Diane R. Garrett�
Diane R. Garrett,
President and C.E.O.
THE TSX VENTURE EXCHANGE HAS
NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY
OF THIS PRESS RELEASE.