Romarco finds high-grade gold at Dixie

The Midas district of northern Nevada is known for hosting high-grade gold mineralization, and Romarco Minerals (R-T) is showing that its Dixie claims are no exception.

While drilling the southern portion of the claims, Romarco hit several high-grade zones within lower-grade halos. Mineralization is hosted in intermediate to felsic Tertiary volcanics, subjected to epithermal alteration. Initial indications are that the gold is predominantly held in fractures, quartz and calcite veins and veinlets, some of which were observed to host visible gold.

In the latest program, 10 reverse-circulation (RC) and core holes were drilled. Four of these returned significant gold and silver values and were collared in the vicinity of the northwest-striking Midas vein and north-south-striking Grant-Jackson vein.

The best interval came from RC hole 44, collared between the two veins.

Starting at a hole depth of 143.3 metres, 45.7 metres averaged 22.5 grams gold and 130.3 grams silver. The first 4.5 metres of this interval consist of three higher-grade, 1.5-metre intervals ranging in value from 15.2 to 340.6 grams gold and 162.2 to 2.06 kg silver. The remainder of the interval averaged 1.3 grams gold, which excludes a 3-metre interval of 11.8 grams gold and 102.9 grams silver, occurring at a depth of 182.9 metres.

The next best interval was encountered in RC hole 49, which hit 53.3 metres averaging 3.5 grams gold and 37.7 grams silver. This includes several higher-grade intervals, the best of which graded 22.5 grams gold and 209.1 grams silver.

Romarco says the hole bottomed out in mineralization, at a hole length of 304.8 metres.

A third RC hole, 42, intersected a near-surface 1.5-metre interval grading 10.7 grams gold and 13.7 grams silver, interpreted to be the Midas vein.

Farther down hole, at a depth of 128 metres, a second, 137-metre interval averaged 1.5 grams gold and 27.4 grams silver. Included in that interval were two widely separated, higher-grade intercepts which assayed 7.5 grams gold and 96 grams silver over 4.6 metres plus 7.2 grams gold and 72 grams silver over 1.5 metres.

Collared near RC hole 42 was core hole 54, which intersected 8.1 metres of 28 grams gold and 240 grams silver. Mineralization occurred 120.9 metres down-hole and included a 2.1-metre, higher-grade zone grading 103.9 grams gold and 857 grams silver.

Drilling in the Dixie claims is continuing.

In a separate drill program completed at the Ren property, results have been reported for four holes, comprising 3,358 metres. The property lies 1 km north of Barrick Gold’s (ABX-T) Meikle mine in Elko Cty.

The holes targeted the Robert Mountains Formation and the north-northwest structures and dyke swarms previously outlined by mapping and drilling.

However, the program failed to intersect the formation, and the company now believes it is buried too deep to be a viable target.

Nonetheless, two holes returned low-grade intervals of 2.3 and 1.5 grams gold over 19.8 and 38.1 metres, respectively, including one higher-grade zone in each. The company notes that although the zones are deep-seated, their presence indicates the potential for higher-grade mineralization where structures intersect the more favorable Popovich Formation.

Romarco and equal partner Uranerz USA are earning a 60% interest in the Ren property from Homestake Mining (HM-N).

In other news, Romarco has added two additional properties to its Nevada portfolio. Through staking, the company has acquired the 413-ha Red Hill property and the 672-ha Union property, both of which are in the Battle Mountain trend.