Results from the second phase of drilling on the Nike gold property in Nevada have prompted Romarco Minerals (R-T) to increase its exploration budget.
The project, in which Romarco is earning a half interest, is a joint venture with Uranerz USA, the operator. Situated in the Battle Mountain trend, the property consists of 315 claims, which lie 6.4 km south of Santa Fe Gold’s Lone Tree mine.
The most significant hole from the 1995 drill program returned 18.3 metres grading 1.65 grams gold per tonne.
This year’s drill program consists of 11 holes representing 2,191.41 metres.
Nine holes hit significant mineralization, and seven ended in mineralized rock. Results of the program suggest the gold zone is open in three directions and at depth.
Encouraged by these results, Romarco has increased its drilling budget there by US$250,000.
The latest drill results are shown below:
| Hole | Depth(m) | Width(m) | Gold(g/t) |
| NK20 | 91.5-167.75 | 76.25 | 1 |
| NK21 | 97.6-183 | 85.4 | 1.06 |
| NK22 | 157.07-172.32 | 19.82 | 1.5 |
| NK23 | 141.82-144.87 | 3.05 | 0.68 |
| NK24 | 103.7-183 | 79.3 | 0.69 |
| NK25 | 123.52-181.47 | 57.95 | 0.51 |
| NK26 | 106.75-111.32 | 4.57 | 0.5 |
| NK28 | 166.22-169.27 | 3.05 | 0.9 |
| NK30 | 144.4-161.65 | 15.25 | 1.37 |
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