NEVADA — Romarco encouraged by Converse drillholes

Drilling by Romarco Minerals (R-T) at the Converse gold project in Humboldt Cty. has returned several promising intersections.

The project is a joint venture involving Toronto-based Romarco and German-owned Uranerz U.S.A., each of which holds a 25% interest, and Newmont Gold (NGC-N), which owns the remaining half.

Newmont Gold effectively bought into the project when it acquired Santa Fe Pacific Gold, which originally held the half interest.

To date, 17 holes, drilled on 200-To-400-ft. centres, have recovered 14,813 ft. of core in an attempt to outline a low-grade skarn deposit. Drilling is testing the northern and southern portions of the target, where bedrock highs have been measured by gravity surveys.

Highlights from drilling include: 577 ft. (from 307 to 884 ft.) grading 0.030 oz. gold per ton in hole 43; 80 ft. (from 420 to 500 ft.) of 0.036 oz. gold in hole 44; 370 ft. (from 460 to 830 ft.) of 0.024 oz. gold in hole 47; 240 ft. (from 400 to 640 ft.) of 0.022 oz. gold in hole 48; and 210 ft. (from 565 to 775 ft.) of 0.048 oz. gold in hole 54.

The next phase of exploration, which is planned for later this year, will concentrate on infill drilling.

Romarco has a number of other exploration properties in Nevada.