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ROK ROK Resources Inc

0.23
-0.005 (-2.13%)
25 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
ROK Resources Inc TSXV:ROK TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.005 -2.13% 0.23 0.225 0.23 0.23 0.23 0.23 12,792 16:38:13

ROCA Defines Plan to Re-Start Operations at MAX Mine

23/09/2010 1:59am

PR Newswire (US)


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TSX-V: ROK

VANCOUVER, Sept. 22 /PRNewswire-FirstCall/ - Roca Mines Inc. (TSX-V: ROK) ("Roca" or "the Company") announces that an initial geotechnical review of the sill pillar collapse announced on September 21, 2010 has now been completed at the MAX Molybdenum Mine. Management and staff have also developed a revised mine plan to return to production as quickly and safely as possible.

Key elements of the revised mine plan reflect management's desire to effectively isolate all future production from the stoping areas that have recently caused various production delays. Approximately two weeks is required to rehabilitate the manway and ventilation raises damaged during the last event. An additional six weeks of stope development work needs to be completed before the mine can return to continuous production on the recently achieved 725m Level.

Having now reached this depth, an exploration drilling program is also planned to immediately test the Main zone (below the current mining area and at depth) and further delineate other mineralized zones. For example, an initial drill program was recently completed that successfully intersected geology and mineralization on the periphery of the "Ethyl Zone", located less than 150m from existing workings. This zone has never been mined and its definition is an important component of a planned mine expansion plan. Future diamond drilling will quickly target this area, where DDH78-05A (completed by Newmont Mines Limited and Esso Minerals Canada) returned the following selected intervals:

    -------------------------------------------------------------------------
    Drill Hole #   From (m)    To (m)   Interval (m)   Mo (%)    MoS(2) (%)
    -------------------------------------------------------------------------
    DDH78-05A         566.93     608.38      41.45        1.25        2.08
    -------------------------------------------------------------------------
      including       571.20     602.89      31.70        1.52        2.53
    -------------------------------------------------------------------------
      including       587.04     596.19       9.14        2.52        4.20
    -------------------------------------------------------------------------

The MAX mine has been actively engaged in achieving its permitted production increase to 1,000 tonnes per day throughput. Work this summer included exploration and definition drilling, raising tailings dams, installation of a third ball mill and ongoing mine development that will facilitate that expansion. This work was being funded from cashflow; however, the recent production shutdowns have created an unsustainable working capital deficit. Therefore, the mine and mill will remain on a temporary care and maintenance program until suitable funding can be arranged to complete the required rehabilitation and development work described above.

Scott Broughton, P.Eng. is the qualified person as defined by national instrument 43-101 responsible for the preparation of this news release.

                               ROCA MINES INC.

                              "Scott Broughton"

                   --------------------------------------
                   Scott E. Broughton - President and CEO

Neither the TSX Venture Exchange 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.

SOURCE Roca Mines Inc.

Copyright . 22 PR Newswire

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