Romarco sells Nevada assets

Denver — Romarco Minerals (R-T), a former high-flying junior based in Nevada, has sold its exploration assets to privately owned Metallic Ventures.

Romarco’s main asset is the Goldfield project in southern Nevada, where the company compiled a land package of 18,000 acres.

Since 1999, the company has drilled 92 holes (41,920 ft.) at the project, looking for high-grade gold mineralization associated with previously known structures. The target is the high-grade deposit similar to the nearby producing Ken Snyder mine owned by Franco-Nevada Mining.

Since the early 1900s, Goldfield has produced more than 4 million oz. gold from high-grade veins.

Also sold was a 25% interest in the Converse gold project, as well as four other projects throughout the state. No price tag was disclosed.

Metallic Ventures is a Canadian company headed by Jeffrey Ward and Richard McNeely, both formerly of Cobre Mining.

Meanwhile, Romarco has entered into merger discussions with its sister company, Tullaree Capital (tul-v), of which Romarco owns 53%. Tullaree is engaged in non-resource business ventures.