Romarco Intercepts Another 6 G/T Gold in Pine Grove Drilling
ROMARCO MINERALS INC. (TSX-V: R) announces that it has obtained finalized gold results for the remaining assayed core from its summer 2007 drilling on the east side of its Pine Grove Project. Romarco has satisfied its work obligations on the eastern side of the property and is in the process of obtaining permits to expand drill access to the second target area at Pine Grove – the Rockland Mine. The Rockland Mine is an epithermal vein target and produced 50,000 ounces of gold between 1870 and the late 1930s at a grade of 80 g/t (2.6 opt) gold equivalent. Drilling is expected to commence in the spring of 2008. Final results from the first hole (PG-36C), were released in late July and contained the highest grade vein (20.9 g/t Au) obtained in drilling of the area to date. The second hole, PG-37C had a zone of 1.5m of 6.01 g/t Au and15 m of 0.27 g/t Au (see table below). PG-38C returned a 19 meter zone of 0.14 g/t Au centered around a 1.5 meters of 1.04 g/t Au at 340 meters depth.
Please Click Here to view drill results: http://www.usetdas.com/maps/romarco/RomarcoTable1Nov6-07.pdf
The final two holes, PG-37C and PG-38C, were drilled to depths of 496 and 409 meters (1628 ft. & 1343 ft.), respectively. Both these holes were typified by narrower zones of gold mineralized altered rhyolite with random veining in the rhyolite and the surrounding sediments. PG-38C did achieve depths to intersect basement granite. This shallower granite intercept indicates to Romarco geologic staff that there is a large down drop to the east fault zone between PG-38C and PG-36C. The significance of this fault will be reviewed this fall with analysis of project wide geologic interpretations.
Trace element analysis is currently pending for portions of the final two holes. Romarco’s technical team has identified several important features in the new core that were not attainable in previous reverse circulation drilling. Kirkness Diamond Drilling Company performed the drilling activities and American Assay Laboratories conducted primary assaying and ALS Chemex performed check assaying Romarco’s Qualified Person on the project is Tom Kilbey, Senior Geologist for Romarco.
The Pine Grove Project, located in the Walker Lane Mineral Belt of western Nevada, is a joint venture with Carlin Gold (TSX-V: CGD). Romarco is earning a 60% interest in the project by completing expenditures of US$2MM prior to December 31, 2009, with an option to elect to earn an additional 10% interest (total 70%) by committing to take the project to final feasibility within three years of Romarco’s initial earn-in.
The property consists of 170 unpatented claims and is located in the Pine Grove mining district, which has estimated historic production of approximately 290,000 ounces gold equivalent (includes silver). Romarco is developing gold producer with the Hail Gold Mine in South Carolina, a large gold district in Zacatecas, Mexico and exploration projects in Nevada.
Romarco is a developing gold company with the Haile Gold Mine in South Carolina, the Pinos Gold District in Zacatecas, Mexico and 3 exploration projects in Nevada.
ON BEHALF OF ROMARCO MINERALS INC.
“Diane R. Garrett” Diane R. Garrett, President and CEO
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For further information, please contact: Diane Garrett President and CEO or Shirene Urton (775) 355-1900 ROMARCO MINERALS INC. 885 West Georgia, Suite 1500 Vancouver, British Columbia Canada V6C 3E8 Tel: (604) 688-9271 Fax: (604) 688-9274 Email Contact
SOURCE: Romarco Minerals Inc.