Romarco Minerals Inc. (TSXV:R)
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TORONTO, Nov. 9 /CNW/ --
TRADING SYMBOL: TSX-V: R
TORONTO, Nov. 9 /CNW Telbec/ - ROMARCO MINERALS INC. (TSX-V: R) (the "Company") is pleased to announce several significant events for
the Company.
The TSX has granted conditional approval for the listing of Romarco's
shares. The Company is in the process of co-ordinating the
arrangements for listing on the TSX and de-listing from the TSX-V and
will advise further of the timing of the graduation which is
anticipated to occur during November 2010.
Romarco is also pleased to announce that it has successfully drilled and
condemned the current proposed tailings location ("Duckwood"). The
tailings area itself will encompass 510 acres of a more than 1,000 acre
continuous land parcel. With successful condemnation drilling for a
tailings location Romarco is now moving into the final phases of the
feasibility study including mine modeling and planning, operating and
capital cost estimations, cash flow analysis and final permit
applications. With the increase in the drill rig fleet from six to
nine rigs, the Company will resume primarily drilling for ore.
The Company also recently held a groundbreaking ceremony to mark the
construction kick-off of an analytical and metallurgical lab at Haile.
The laboratory will be seeking independent accreditation and will
transition to the operating lab on production. While third-party check
assays and verifications will remain critical, the completion of the
lab will allow greatly reduced turnaround time for assays. Attendees of
the ceremony included Romarco's Board of Directors and senior
management, Haile Gold Mine employees, Kershaw City officials,
Lancaster County officials, South Carolina State officials as well as
community leaders. Speeches were given by Diane Garrett, President and
CEO and several local and State officials, who commented on the
positive working relationship that has been built between the city,
county, state and Romarco over the past three years. Photos of the
event can be found on the Company's website at: http://romarco.com/projects/index.php?&content_id=328
Rudy Carter, Lancaster County Council Chairman stated, "The residents of
Lancaster County and Lancaster County Council are excited about the
continued progress being made at the Haile Gold Mine. The people of
Lancaster County are fully supportive of the mine reopening and this
new $5 million lab and creation of additional jobs is further proof of
Haile Gold Mine's commitment to Lancaster County. We welcome this new
facility and look forward to a long and prosperous relationship with
the company in Lancaster County."
M3 Engineering and Technology (Tucson, AZ) is providing the design and
engineering services for the project. Compass Development LLC
(Charlotte, NC) is providing construction management services for the
project. The facility is expected to be completed by June 2011. Mr.
Charlie Foote, a former senior assayer at Kennecott's Ridgeway Mine,
has been employed by Romarco as the Sr. Lab Coordinator and Romarco is
actively recruiting for the chemist and metallurgist positions. The
cost of the laboratory is approximately US$5.0 million and will be
located in the Kershaw Industrial Park, Lancaster County, SC.
The road to the assay lab will be named Rex Outzen Road in memory of
Romarco's first Chief Operating Officer who passed away in 2008.
About Romarco Minerals Inc.
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 in the process of
a feasibility study and continued exploration drilling. The Pinos Gold
District in Mexico is a high grade epithermal vein district in the
advanced exploration stage.
Please note:
This entire press release may be accessed via fax, e-mail, Romarco's
website at www.romarco.com and through CNW Group's website at www.newswire.ca. All material information on Romarco Minerals Inc. can be found at www.sedar.com
"Neither the TSX Venture nor its regulation services provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release"
pbRomarco Minerals Inc./bbr/ br//p table valign="top" border="0"tr valign="top"td align="left"Diane Garrett, President and CEObr/ Phone: 210-621-4200br/ E-mail: a href="mailto:dgarrett@romarco.com"dgarrett@romarco.com/a/td td align="left" /td td align="left" /td td align="left" /td td align="left" /td td align="left" /td td valign="top" align="left"Dan Symons, Manager, Investor Relationsbr/ Phone: 416-367-5500br/ Email: a href="mailto:dsymons@romarco.com"dsymons@romarco.com/a/td/tr/table p align="justify"bRenmark Financial Communications Inc./bbr/ Maurice Dagenais 514-939-3989 or via email at a href="mailto:mdagenais@renmarkfinancial.com"mdagenais@renmarkfinancial.com/a/p