Denver —
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,
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