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Thursday, 29th May 2008 (1511 views)

Exploration drilling at the Haile mine in the US state of South Carolina has struck high-grade gold mineralisation, it has been announced.

The company developing the mine, Romarco Minerals, said the third drill hole of its campaign to test extensions of the mine's mineralised zone had intersected gold north of previous drilling work.

Key intercepts were graded at 9.2 g/t gold over 29 metres and 7.7 g/t gold over 24 metres.

Intervals contained within these intersections included gold graded at 10.6 g/t gold over 15 metres, 13.8 g/t gold over 7.6 metres and 17.4 g/t gold over 4.6 metres, the company added.

Romarco confirmed that two drilling rigs will continue to test the property with the aim of extending known mineralisation along strike to the north and east.

According to Romarco's website, a non-National Instrument 43-101 compliant historic mineral estimate puts the Haile mine's resources at 15.2 million tonnes with an average gold grade of 3.1 g/t for total contained gold of around 1.54 million ounces.

 

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