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Tuesday, 27th January 2009 (934 views)

Romarco Minerals has announced that it has purchased an additional 240 acres adjacent to its other land holdings in South Carolina.

The Nevada-based company stated that the additional property at the Haile gold mine in the Pinos gold district of Mexico was part of a package of land controlled by Amax Gold during the 1990s.

Historic drilling at the site indicated that it contained inferred resources of around 2.25 million tonnes of ore at an average grade of 1.3 g/t gold, approximately 94,000 ounces of gold.

According to Romarco, gold mineralisation at the new property contains a significant extension of the Haile trend and has not been explored fully.

An emerging gold producer with its flagship Haile gold mine in South Carolina, Romarco Minerals is currently undertaking exploration, bankable feasibility and permitting activities.

The Haile gold mine has a measured and indicated resource of 1.5 million ounces of gold and an additional inferred resource of 687,000 ounces.

 

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