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ROMARCO FILES UPDATED HAILE GOLD MINE PROJECT NI 43-101 TECHNICAL REPORT
October 20, 2008
ROMARCO MINERALS INC. (TSXV: R) (the �Company�) is pleased to announce that it has filed an updated NI 43-101 Technical Report in respect of the Haile Gold Mine Project, completed by Gustavson Associates, LLC of Boulder, CO. Gustavson was responsible for completing the independent mineral resource estimate, announced in a press release dated Sept. 4, 2008. The new mineral resource represents a 92% increase in the measured and indicated category for a total of 1.5 million ounces of gold with an additional 678,000 ounces of gold in the Inferred category.
Key aspects of the updated technical report include:
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A full description of Gustavson�s verification of the existing project data, as well as, Romarco�s exploration program and estimation methodologies;
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A statement of Measured, Indicated and Inferred mineral resources;
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A discussion of Romarco�s exploration program, including the program for the remainder of 2008 and 2009; and
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Recommendations for continuation of exploration programs.
�The NI 43-101 technical report provides current information related to the Company�s geologic understanding of the Haile deposit, future exploration drilling programs and an updated mineral resource estimate. It is important to note, that the new mineral resource estimate is based on drilling through mid-July. In light of the exploration drilling completed since that time, it may be necessary to update the resource estimate in the near future.� stated Diane Garrett, President and CEO.
Romarco�s Qualified Person is Tom Kilbey, Sr. Geologist for the Company.
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 three gold exploration projects in Nevada.
For further information, please contact Diane Garrett, President and C.E.O. at (830) 624-6249 or by e-mail at dgarrett@romarco.com or Shirene Urton, Executive Assistant at (775) 355- 1900 or by e-mail at surton@romarco.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. |