VANCOUVER, June 28, 2011 /CNW/ - Roca Mines Inc. (TSXV: ROK) ("Roca" or "the Company") announces that mine development work at the
MAX Molybdenum Mine has advanced positively in June 2011 and crews are
nearing re-start of production.
The geotechnical monitoring program is nearing completion with the
installation this week of new instruments. This will enhance existing
geotechnical monitoring, which to date shows no changes to the
stability of the workings or mine access. This final step in the mine's
rehab program will allow for monitoring of the new 750 sill pillar and
of the 830 level rib pillar on a daily basis, these two areas being of
primary interest once production recommences.
The mine's development contractors were mobilized in May 2011 and have
been preparing the underground mobile equipment, developing and
sampling new headings, upgrading ventilation components and generally
preparing for underground production re-start. The mine's longhole
production drilling contractor mobilized last week to commence
production drilling; the development of a slot raise (the first phase
of stope production) is now complete. In addition, various
contractors are reorganizing staffing for the mill and other operations
at site. Further updates on production will be provided as various
tasks are completed in the near term.
Management's goal to restart production at the MAX molybdenum mine and
to advance its permitted 1,000-tonne-per-day expansion plans will
reduce unit costs and preserve the opportunity to produce concentrates
in an appreciating price environment. Molybdenum oxide currently trades
at approximately US$15.50 per pound.
ROCA MINES INC.
Scott E. Broughton, P.Eng. - 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.
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