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Romarco returns 23 meters of 45.8 g/t at Horseshoe

TORONTO, July 25, 2011 /CNW Telbec/ - ROMARCO MINERALS INC. (TSX: R) (the "Company") is pleased to announce it has drilled the fourth best hole ever completed on the Haile property.  The highlighted hole from Horseshoe:

  • RCT-29 encountered 23.0 meters of 45.8 g/t gold at Horseshoe 144 meters below surface or 176.7 meters from the collar.  This intercept includes a 6.1-meter zone of 111.5 g/t gold.

Drilling at Horseshoe continues to return most of the highest-grade mineralization at Haile.  RCT-29 intersected multiple zones of mineralization beginning 131.2 meters below surface or 163 meters from the collar. This intercept is positioned approximately 46 meters to the southeast of DDH-379 (28.8 meters of 16.5 g/t gold and 66.0 meters of 10.9 g/t gold; released September 20, 2010 and October 28, 2010).

Diane R. Garrett, President and CEO commented: "RCT-29 is significant for two reasons: the length of the very high grade intercepts and the fact this is the shallowest high-grade ore yet encountered at Horseshoe.  We typically do not release single drill holes at this stage of our company's development, however, the grade and width of RCT-29 at 23.0 meters of 45.8 g/t gold make this one of the very best holes ever drilled at Haile since its discovery in 1827.  Congratulations to our entire geology staff who work so diligently to understand this unique system, to add ounces and increase shareholder value.  It should be clear that despite the delay in the schedule to production, Haile continues to possess tremendous upside potential that is yet to be discovered and that will provide the foundation for continued growth and added value as we progress through the permitting process."

The drill hole extended from ore to a post-mineralized dike so the full extent of the high-grade zone is unknown.  Additional drilling will test for high-grade mineralization on the other side of the post-mineralized dike and also test around RCT-29 closer to surface and at depth.

Results from RCT-29 are presented in the table below:

Hole
RCT-29
Interval
(meters)
From
(meters)
To
(meters)
Gold
(g/t)
Interval 3.6 163.0 166.6 7.2
Interval 23.0 176.7 199.7 45.8
Including 6.1 192.0 198.1 111.5
Interval 3.0 254.6 257.6 0.8

The mineralization at Haile remains unconstrained at depth and in all directions. Drilling is ongoing throughout the property to continue defining the shape and extent of the Haile mineralized system.

Sample Procedure

Drilling is being performed by Romarco's company owned drills (four core and one reverse circulation (RC), by Connors Drilling (three core rigs), and by Boart Longyear (three RC rigs).  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 James R. Arnold, P.E., Senior Vice-President and Chief Operating Officer at Haile.  Mr. Arnold has reviewed and approved this news release.

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.

 

 





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