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Romarco Minerals Inc. announces drilling results on Carlin's Pine Grove project
July 25, 2007
ROMARCO MINERALS INC. ("TSXV: R" - the "Company") announces that it has completed its summer 2007 core drilling program on the east side of its Pine Grove Project. This continuation of the Phase I drilling program was comprised of 1,382 meters (4,534 ft.) of core in 3 holes along the southern half of the East Pine Grove prospect area. Romarco has received the final gold assays for significantly altered portions of the first hole in the program, PG-36C. Those assays are summarized in the table below. Hole PG-36C returned 59 meters of 1.09 g/t gold including 33.5 meters of 1.78 g/t gold and 1.5 meters of 20.9 g/t gold and 99 g/t/t silver. The assays confirm two distinct disseminated gold mineralized breccias zones in two stacked rhyolite lavas. The lower lava contained a 20.9 g/t Au silica breccia lense, which represents the highest grade interval drilled on the property to date. Core for the last two holes, PG-37C and PG-38C, have been logged and most of the significantly altered portions submitted to the laboratory for gold and trace element analysis, with assays pending.
| Hole No. |
Depth (m) |
Interval (m) |
Depth (ft) |
Interval (ft) |
Gold | Silver |
| PG-36C | 150.3-186.5 | 36.2 | 493-612 | 119 | 0.23 g/t | pending |
| incl | 183.3-185 | 1.5 | 602-607 | 5 | 3.54 g/t | pending |
| 246.3-305.7 | 59.4 | 808-1003 | 195 | 1.09 g/t | 14.9 g/t | |
| incl | 267.6-301.1 | 33.5 | 878-988 | 120 | 1.78 g/t | 21.3 g/t |
| incl | 267.6 | 1.5 | 878-883 | 5 | 20.9 g/t | 99.0 g/t |
| incl | 117.3-579.1 | 1.5 | 923-928 | 5 | 3.86 g/t | 3.1 g/t |
| incl | 143.3-184.4 | 1.5 | 938-943 | 5 | 2.59 g/t | 3.1 g/t |
| incl | 269.7-304.8 | 1.5 | 948-953 | 5 | 3.47 g/t | 21 g/t |
| incl | 393.2-474.0 | 1.5 | 983-988 | 5 | 2.55 g/t | 17.2 g/t |
PG-36C was drilled to a depth of 444 meters (1458 ft.) through a mineralized area previously defined by winter 2006 reverse circulation drilling (PG-32). Unfortunately, this hole (PG-36C) failed to reach the desired depth at the proposed deeper granite basement contact.
Trace element analysis is currently pending for this first core hole. Romarco's technical team has identified several important features in the new core that were not attainable in previous reverse circulation drilling. This will greatly impact future exploration in the East Pine Grove area. Kirkness Diamond Drilling Company performed the drilling activities and American Assay Lab conducted all assays.
Phase II Drilling
Romarco is in the process of obtaining permits to drill the second target on Pine Grove - the Rockland Mine area. The Rockland Mine is an epithermal vein target and produced 50,000 ounces of gold between 1870 and the late 1930's at a grade of 80 g/t (2.6 opt) gold equivalent . Drilling is expected to commence in the Fall of 2007.
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 (TSXV: 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 an advanced stage exploration company engaged in the acquisition, exploration and development of precious metals mineral properties. Romarco has a large gold district in Zacatecas, Mexico and is in the process of acquiring the Haile Gold Mine from Kinross Gold Corporation.
For further information, please contact Diane Garrett, President and C.E.O. at (775) 355-1900 or by e-mail at [email protected] or Shirene Urton, Executive Assistant at (775) 355-1900 or by e-mail at [email protected].
ON BEHALF OF ROMARCO MINERALS INC.
Diane R. Garrett
President and C.E.O.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the information contained herein.
Certain disclosures in this release, including management's assessment of Carlin's plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Carlin's operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Carlin expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.