EXPLORATION ROUNDUP — Romarco forges ahead with exploration programs in Nevada

Toronto-based gold explorer Romarco Minerals (R-T) remains focused on Nevada, where drill results from as many as five separate properties are awaited.

At the Midas gold property, the company conducted a second round of drilling in the Belnap resource area, adjacent to the Rex Grande discovery of Franco-Nevada (FN-T) and Euro-Nevada (EN-T).

Romarco drilled eight reverse-circulation (RC) holes totalling 3,300 metres, as well as two deep core holes.

Previously, the company had confirmed the extension of the Rex Grande zone onto the Midas property, and drilling has outlined a highly mineralized zone of quartz-calcite veining measuring 620 metres long.

At the Grey Eagle property, 7 miles north of the Pipeline deposit, Romarco drilled 4,200 metres in a program of 22 RC holes.

At the Ren property in the Carlin trend (a joint venture with Uranerz and Corona Gold [CRNA-C]), Romarco drill-tested a structural wedge with an associated induced-polarization anomaly and favorable geochemistry.

The company also worked at proving up the Cimarron gold property, north of Tonapah, where 22 shallow, RC holes were drilled. The property is a joint venture with Brancote USA, with operator Romarco holding a 70% interest.

Meanwhile, Romarco has entered into an agreement to earn a half interest in the Converse property from Santa Fe Pacific Gold (GLD-N). Romarco’s joint-venture partner in the project is Uranerz USA.

Since the agreement was signed in September, 11 holes, totalling 2,249 metres, have been drilled in an effort to expand known mineralization.

Results included 160 metres grading 1.09 grams gold per tonne at hole 31, and 132 metres grading 0.91 gram, plus 40 metres of 1.69 grams at hole 32.

Uranerz will use the data to calculate a preliminary resource estimate for the deposit.

To buy into the Converse property, Romarco and Uranerz must spend a total of US$2.6 million on exploration.

In addition, the company acquired from Lac Minerals an option for the Rand gold property, northeast of the town of Hawthorne. The 4,000-acre area is a volcanic-hosted, epithermal target in the Walker Lane trend. Romarco can earn a 60% interest from Barrick Gold (ABX-N) by spending US$500,000 over the next three years. Toward that end, Romarco drilled 14 RC holes, totalling 3,000 metres, on five targets.