Romarco drills new gold-silver veins at Midas project in Nevada

Exploration drilling by Romarco Minerals (R-T) on the Belnap claims of its wholly owned Midas project in Nevada has encountered two new high-grade gold-silver veins.

The new veins are known as Footwall No. 2 and Hangingwall No. 1. They are situated just north of the Footwall No. 1 vein.

The discovery resulted from an 11-hole exploration program which was focused on two previously known high-grade gold-silver veins: the Gold Crown and Footwall No. 1.

In the Footwall No. 2 vein, highlights from hole 45 were: 8 ft. (from 1,031 to 1,039 ft.) grading 0.102 oz. gold and 0.25 oz. silver per ton and 23.5 ft.

(1,056.5 to 1,080 ft.) of 0.311 oz. gold and 3.55 oz. silver, including 3 ft.

(1,073.5 to 1,076.5 ft.) of 1.132 oz. gold and 18.8 oz. silver.

In the Hangingwall No. 1 vein, the best results were: 3.5 ft. (214.5 to 218 ft.) grading 0.173 oz. gold and 0.15 oz. silver in hole 39; and 10 ft. (870 to 880 ft.) of 3.480 oz. gold and 16.62 oz. silver in hole 71.

The best intersections of the Gold Crown vein were: 70 ft. (895 to 955 ft.) grading 0.05 oz. gold and 0.64 oz. silver in hole 48; 31 ft. (658 to 689 ft.) of 0.141 oz. gold and 0.47 oz. silver in hole 57; 26.5 ft. (717 to 743.5 ft.) of 0.438 oz. gold and 6.53 oz. silver in hole 58; and 18.5 ft. (767 to 785.5 ft.) of 1.574 oz. gold and 14.51 oz. silver, including 5.5 ft. (773 to 778.5 ft.) of 4.498 oz. gold and 39.6 oz. silver, in hole 59.

Footwall No. 1 vein highlights were: 43.5 ft. (1,268 to 1,311.5 ft.) grading 0.125 oz. gold and 1.71 oz. silver, including 22.5 ft. (1270.5 to 1293 ft.) of 0.181 oz. gold and 2.79 oz. silver, in hole 41; 96 ft. (857 to 953 ft.) of 0.214 oz. gold and 2.14 oz. silver, including 4.5 ft. (877 to 881.5 ft.) of 1.338 oz. gold and 10.05 oz. silver, in hole 45; 26 ft. (1,240 to 1,266 ft.) of 0.628 oz. gold and 7.94 oz. silver, including 5 ft. (1,240 to 1,245 ft.) of 2.944 oz. gold and 34.74 oz. silver, in hole 51.

All the holes were diamond-drilled except for hole 71, which was drilled using the reverse-circulation method.

Romarco’s Midas property, which is adjacent to the Ken Snyder mine, owned jointly by Franco-Nevada Mining (FN-T) and Euro-Nevada Mining (EN-T), consists of four positions: the Belnap, Dixie and Bill Vest claims and the Unger Fee land.

Further drilling is being carried out on the Dixie claims (T.N.M., Sept.

8/97). Romarco has upped the budget for work at Midas by US$250,000 and is mobilizing a second diamond drill rig to the property. Work will be carried out by three rigs.