El Salvador president proposes bill to overturn metals mining ban
In 2017, El Salvador became the first country in the world to ban forms of metals mining.
Romarco Mineals Inc. (TSX:R) has drilled its best hole since Horseshoe on the Haile property identifying a newly designated zone (“Mustang”) as a result of its ongoing drill program at its Haile Gold Mine project in South Carolina. These and other results noted below continue to demonstrate the sustained growth and consistency of the Haile mineralized system. The highlighted hole from Mustang:
Drilling beyond the limits of the currently proposed South and Ledbetter pits continues to identify robust mineralization in Mustang. RCT-87 intersected multiple zones of mineralization beginning at 164 meters below surface, including 117.4 meters of 5.5 g/t gold. This zone is positioned approximately 180 meters below the current $950 reserve pit and within the saddle between South Pit and Ledbetter. RCT-87 is mineralized within 23 meters east of DDH-396 (53.7 meters of 3.7 g/t gold and 45.3 meters of 3.0 g/t gold; released June 29, 2011) and 27 meters southwest of RCT-33 (33.5 meters of 4.0 g/t gold; released March 9, 2011). RC-1816 (released September 7, 2010) intersected 77.7 meters of 8.0 g/t gold approximately 44 meters east of RCT-87.
As demonstrated by the Mustang zone, the grade and continuity between South Pit and Ledbetter is steadily increasing and may lead to the merging of the designed pits within this area. Mustang, which has been identified by numerous holes and most notably RCT-87, remains an open pit target. However, the extension of Mustang as it plunges to the northeast has been identified as an underground target and has the potential to develop into part of an underground plan that is being studied this year for Ledbetter, Snake, and Horseshoe.
Diane Garrett, President and CEO, commented: “RCT-87 at Mustang is the most significant drill hole since we had the Horseshoe discovery hole (62.5 meters of 9.6 g/t; released March 1, 2010). Although over 280,000 meters of exploration drilling has been completed to date by Romarco since acquiring Haile, the system continues to grow as a world-class ore body and still remains open in all directions and at depth. During the additional timeframe allowed under the permitting schedule, the Company will continue to add value to the project through an aggressive and increased drill program, underground studies and optimization of the mine plan”.
The mineralization at Haile remains unconstrained at depth and in all directions. Drilling is ongoing throughout the property to continue defining the shape and extent of the Haile mineralized system.
An update of additional recent drilling is provided below in the Appendix (click on link below)
Plan view maps are available on the homepage of the Company’s website: www.romarco.com
