TORONTO, Nov. 9 /
CNW Telbec/ -
Romarco Minerals Inc. (TSX-V: R) (the “Company“) is pleased to announce several significant events for the Company.
The TSX has granted conditional approval for the listing of Romarco's shares. The Company is in the process of co-ordinating the arrangements for listing on the TSX and de-listing from the TSX-V and will advise further of the timing of the graduation which is anticipated to occur during November 2010.
Romarco is also pleased to announce that it has successfully drilled and condemned the current proposed tailings location (“Duckwood“). The tailings area itself will encompass 510 acres of a more than 1,000 acre continuous land parcel. With successful condemnation drilling for a tailings location Romarco is now moving into the final phases of the feasibility study including mine modeling and planning, operating and capital cost estimations, cash flow analysis and final permit applications. With the increase in the drill rig fleet from six to nine rigs, the Company will resume primarily drilling for ore.
The Company also recently held a groundbreaking ceremony to mark the construction kick-off of an analytical and metallurgical lab at Haile. The laboratory will be seeking independent accreditation and will transition to the operating lab on production. While third-party check assays and verifications will remain critical, the completion of the lab will allow greatly reduced turnaround time for assays. Attendees of the ceremony included Romarco's Board of Directors and senior management, Haile Gold Mine employees, Kershaw City officials, Lancaster County officials, South Carolina State officials as well as community leaders. Speeches were given by Diane Garrett, President and CEO and several local and State officials, who commented on the positive working relationship that has been built between the city, county, state and Romarco over the past three years. Photos of the event can be found on the Company's website at: http://romarco.com/projects/index.php?&content_id=328
Rudy Carter, Lancaster County Council Chairman stated, “The residents of Lancaster County and Lancaster County Council are excited about the continued progress being made at the Haile Gold Mine. The people of Lancaster County are fully supportive of the mine reopening and this new $5 million lab and creation of additional jobs is further proof of Haile Gold Mine's commitment to Lancaster County. We welcome this new facility and look forward to a long and prosperous relationship with the company in Lancaster County.“
M3 Engineering and Technology (Tucson, AZ) is providing the design and engineering services for the project. Compass Development LLC (Charlotte, NC) is providing construction management services for the project. The facility is expected to be completed by June 2011. Mr. Charlie Foote, a former senior assayer at Kennecott's Ridgeway Mine, has been employed by Romarco as the Sr. Lab Coordinator and Romarco is actively recruiting for the chemist and metallurgist positions. The cost of the laboratory is approximately US$5.0 million and will be located in the Kershaw Industrial Park, Lancaster County, SC.
The road to the assay lab will be named Rex Outzen Road in memory of Romarco's first Chief Operating Officer who passed away in 2008.
About Romarco Minerals Inc.
Romarco Minerals Inc. is a gold development company focused on production in the US and Mexico. The Company's flagship project is the Haile Gold Mine in South Carolina which is currently in the process of a feasibility study and continued exploration drilling. The Pinos Gold District in Mexico is a high grade epithermal vein district in the advanced exploration stage.
Please note: 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.
“Neither the TSX Venture 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“
For further information:
Romarco Minerals Inc.
Diane Garrett, President and CEO
Phone: 210-621-4200
E-mail: dgarrett@romarco.com
Dan Symons, Manager, Investor Relations
Phone: 416-367-5500
E-mail: dsymons@romarco.com
www.romarco.com
Renmark Financial Communications Inc.
Maurice Dagenais
514-939-3989 or via e-mail at mdagenais@renmarkfinancial.com
