Romarco intensifies Nevada work

Toronto-based Romarco Minerals (CDN) will explore six of its properties in Nevada.

The company and its various partners plan to spend more than US$4.2 million this summer, and drills are already turning at both the Orbit and Nike gold properties in the Battle Mountain trend.

At the former, Romarco and Uranerz USA have budgeted US$675,000 in an effort to delineate extensions to the stacked ore zones found in the nearby Gold Acres gold mine.

At the Nike property, 4 miles southwest of Santa Fe Pacific Gold’s (NYSE) Lone Tree gold mine, Romarco and Uranerz will spend an additional US$337,500.

Meanwhile, at the Midas property, Romarco plans to spend US$1.3 million drill-testing targets outlined in 1995. At least 20 reverse-circulation holes will be drilled at the old Midas mine and along the Gold Crown vein, which lie in the Carlin Trend, next to a 2.5-million oz. (gold-equivalent) discovery owned by Franco-Nevada Mining (TSE) and Euro-Nevada Mining (TSE).

Late last year, Romarco and Uranerz agreed to acquire jointly a 60% interest in the Ren gold property from Corona Gold, a subsidiary of Homestake Mining (NYSE). Situated only 3,500 ft. from Barrick Gold’s (TSE) Meikle gold mine, the Ren once produced 20,000 oz. from a small open pit.

Romarco and Uranerz will spend more than US$1 million evaluating the Ren’s deep potential for high-grade gold mineralization. Drilling is scheduled for July.

At Romarco’s wholly owned Grey Eagle mine, also in the Battle Mountain trend, the company will carry out surface and underground mapping, geophysics and drilling. The property produced silver and gold in the past but has never been drilled below 370 ft.

At the Cimarron gold property in western Nevada, Romarco will conduct geophysical work, together with 20,000 ft. of drilling. The company holds a 70% stake in the project, with British-based Brancote holding the remainder.