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R Romarco Minerals Inc.

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Share Name Share Symbol Market Type
Romarco Minerals Inc. TSXV:R TSX Venture Common Stock
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Romarco encounters 25.5 meters of 6.3 g/t gold at Horseshoe

18/08/2010 2:00pm

PR Newswire (Canada)


Romarco Minerals Inc. (TSXV:R)
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TORONTO, Aug. 18 /CNW/ -- TRADING SYMBOL: TSX-V: R TORONTO, Aug. 18 /CNW Telbec/ - ROMARCO MINERALS INC. (TSXV: R) (the "Company") is pleased to announce additional drilling results from the Horseshoe zone. Gold mineralization continues to be encountered outside of known mineralization which remains open in all directions and at depth. The results given below are from drilling that covers a strike length of 265 meters along the recently discovered Horseshoe zone. Drilling highlights include 29 meters of 3.7 g/t Au from DDH-368, 13.4 meters of 4.1 g/t Au from DDH-369, and 25.5 meters of 6.3 g/t Au from DDH-370. The mineralization encountered in DDH-368 is 183 meters below the surface and in DDH-369 it is 201 meters below the surface. Due to hole deflection, DDH-370 passes between RCT-004 (released April 28th, 2010) and RCT-002 by 7.3 meters and 7.9 meters, respectively. RCT-014 is a step out from RCT-008 (88.4 meters of 5.1 g/t Au, released June 9th, 2010), and encounters the mineralized zone 112 meters above RCT-008 and 227 meters below the surface. Drilling continues to identify mineralization above the deeper intercepts and demonstrates the continued expansion of the Horseshoe zone. Additionally, RCT-010 encountered 15.2 meters of 2.4 g/t Au, between Horseshoe and Snake, indicating a potential connection between the two deposits. Selected drill results are given in the table below. Additional step-out holes are planned to further test the extent of mineralization which remains open in all directions and at depth. ------------------------------------------------------------------------- Hole Interval From To Gold (meters) (meters) (meters) (g/t) ------------------------------------------------------------------------- ------------------------------------------------------------------------- DDH-368 ------------------------------------------------------------------------- Horseshoe ------------------------------------------------------------------------- Interval 29.0 213.3 242.3 3.7 ------------------------------------------------------------------------- Interval 3.0 251.5 254.5 1.5 ------------------------------------------------------------------------- DDH-369 ------------------------------------------------------------------------- Horseshoe ------------------------------------------------------------------------- Interval 14.2 211.4 225.6 1.3 ------------------------------------------------------------------------- Interval 13.4 249.9 263.3 4.1 ------------------------------------------------------------------------- DDH-370 ------------------------------------------------------------------------- Horseshoe ------------------------------------------------------------------------- Interval 4.6 443.5 448.1 4.4 ------------------------------------------------------------------------- Interval 25.5 452.6 478.1 6.3 ------------------------------------------------------------------------- Interval 10.7 480.0 490.7 2.9 ------------------------------------------------------------------------- RC-1741 ------------------------------------------------------------------------- Horseshoe ------------------------------------------------------------------------- Interval 3.0 175.3 178.3 0.7 ------------------------------------------------------------------------- Interval 3.0 228.6 231.6 1.4 ------------------------------------------------------------------------- Interval 21.3 234.7 256.0 1.4 ------------------------------------------------------------------------- Interval 25.9 266.7 292.6 2.4 ------------------------------------------------------------------------- RC-1750 ------------------------------------------------------------------------- Horseshoe ------------------------------------------------------------------------- Interval 3.0 227.1 230.1 1.1 ------------------------------------------------------------------------- Interval 3.0 243.8 246.8 2.7 ------------------------------------------------------------------------- RCT-002 ------------------------------------------------------------------------- Horseshoe ------------------------------------------------------------------------- Interval 13.4 412.4 425.8 1.5 ------------------------------------------------------------------------- Interval 3.0 460.3 463.3 2.2 ------------------------------------------------------------------------- Interval 8.0 487.3 495.3 5.3 ------------------------------------------------------------------------- Interval 26.2 531.6 557.8 2.7 ------------------------------------------------------------------------- RCT-010 ------------------------------------------------------------------------- Horseshoe ------------------------------------------------------------------------- Interval 15.2 405.4 420.6 2.4 ------------------------------------------------------------------------- RCT-011 ------------------------------------------------------------------------- Horseshoe ------------------------------------------------------------------------- Interval 1.0 429.7 430.7 1.8 ------------------------------------------------------------------------- RCT-014 ------------------------------------------------------------------------- Horseshoe ------------------------------------------------------------------------- Interval 13.9 281.9 295.8 3.7 ------------------------------------------------------------------------- Interval 32.6 301.8 334.4 2.4 ------------------------------------------------------------------------- Cross-section diagrams are available at: http://romarco.com/projects/haile/drill_results/index.php?&content_id=321 Condemnation drilling is underway on the fifth proposed tailings site located north of the mineralized trend. Identifying and testing this location for tailings storage remains a critical path item for completing the feasibility study and filing for final permits. Three additional drill rigs (two core and one RC) will be phased into the drilling program within the next couple of months, bringing the total number of drill rigs at Haile to nine (four core and five RC). Drilling is being performed by Romarco's company owned drill, by Connors Drilling, and by Boart Longyear. The drill samples are prepared and assayed by Alaska Assay Laboratories. Samples are prepared at their facility in Spartanburg, SC, and assaying is completed in Fairbanks, AK. Blank samples and third party standards are inserted at random and submitted with all of the drill samples. The results of the control samples are within acceptable ranges. Periodic duplicate and check samples are analyzed by ALS Chemex in Reno, NV. For a full discussion of the Company's sampling, analysis, quality assurance, quality control, and other technical disclosure, please see the Company's NI 43-101 Technical Report dated December 3, 2009 and revised April 1, 2010 on SEDAR. Romarco's Qualified Person under NI 43-101 is Peter J. Butterfield, senior geologist at Haile. 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" Romarco Minerals Inc.: Diane Garrett, President and CEO, Phone: 210-621-4200, E-mail: dgarrett@romarco.com; Dan Symons, Manager, Investor Relations, Phone: 416-367-5500, Email: dsymons@romarco.com; Renmark Financial Communications Inc.: Maurice Dagenais: mdagenais@renmarkfinancial.com; Barry Mire: bmire@renmarkfinancial.com; Media - Lynn Butler: lbutler@renmarkfinancial.com, Tel.: (514) 939-3989 or (416) 644-2020, www.renmarkfinancial.com

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