TORONTO, Jan. 17, 2012 /CNW Telbec/ - ROMARCO MINERALS INC. (TSX: R) (the "Company") is pleased to provide results from drill programs initiated on two of its five regional properties: Bayberry in South Carolina and Hickory in North Carolina. Initial assay results from the third regional drill program at Ironwood in North Carolina are pending. Approximately 16,000 meters of exploration drilling was allocated to regional targets in the second half of 2011 (approximately 9% of the total 2011 drilling program). Ore grade mineralization was encountered at both Bayberry and Hickory, and the results are summarized in the Appendix.
The Bayberry project is located approximately four kilometers northwest of the Company's Haile Gold Mine project. All 15 holes from the first phase program have been completed, assayed, and summarized in the Appendix. Similar to the Company's early exploration at Haile, Romarco has encountered mineralization beyond and below the limits of historical drilling and has drilled through the oxides and found gold mineralization in the sulfides. The Bayberry target is located at the historic Brassington Mine, which had small production at the turn of the 20th century. In the 1980s, the project area saw limited drill testing by Amselco Exploration and Westmont Mining. A total of 4,500 meters of drilling were completed historically, predominately in shallow holes. Much like the 1980s exploration at Haile, prior exploration was predominately focused on oxide, heap leach material and the projects were abandoned when drilling encountered sulfide material. The host lithologies and alteration assemblages encountered at Bayberry are nearly identical to those at Haile. A second phase drill program is currently underway at Bayberry.
The Hickory project is located at the historic Sawyer Mine in central North Carolina. The Sawyer Mine was discovered in the early 1800s and produced gold until the Civil War. Approximately 5,000 meters of drilling has been completed at the site by prior exploration companies. The historical drilling consists predominately of shallow holes searching for a shallow oxide resource. The Company has received assay results for five holes from its initial 16-hole program, which are summarized in the Appendix. A second phase drill program has been budgeted for Hickory.
The Ironwood target area, historically known as the New Sawyer Mine, is located approximately five kilometers northeast of the Company's Hickory project. Early exploration occurred on the property during the 1800s and until the 1930s. These workings consisted of trenches, pits and a few shallow shafts (10 to 30 meters). Battle Mountain Gold drilled six shallow RC holes and two shallow core holes. Six additional shallow RC holes were drilled in 2009 in order to identify a shallow oxide resource (pre- NI-43-101). Romarco initiated drilling at Ironwood with a six-hole program. The Company intends to announce these results when all assays from the phase one program have been received.
Drilling is being performed by Romarco's company-owned drills (4 core, 1 reverse circulation), Connors Drilling (3 core), and Boart Longyear (3 reverse circulation). Drill samples are prepared by either AHK Geochem ("AHK") at their facility in Spartanburg, SC, or at the Company's wholly owned Kershaw Mineral Laboratories, Kershaw, SC. All reported mineralization has been confirmed by assays completed in Fairbanks, AK by AHK, an independent laboratory. Blank samples and third party standards are inserted at random for submittal 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 National Instrument ("NI") 43-101 Feasibility Technical Report dated February 10, 2011 on SEDAR. Romarco's Qualified Person under NI 43-101 is James M. Berry, P.G., Chief Geologist at Haile. Mr. Berry has reviewed and approved this news release.
About Romarco Minerals Inc.
Romarco Minerals Inc. is a gold development company engaged in the acquisition, exploration and development of precious metals mineral properties. The Company has completed a positive Feasibility study and is continuing exploration and permitting for its flagship project, the Haile Gold Mine in South Carolina.
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
Table of Regional Property Drill Holes
|Hole||Azimuth||Angle||Interval (meters)|| From
For further information:
Romarco Minerals Inc.
Renmark Financial Communications Inc.
Maurice Dagenais 514-939-3989 or via e-mail at [email protected]