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