Romarco Minerals Inc TSX:R announced an updated resource estimate for its Haile Gold Mine in South Carolina. The project is now estimated to have measured and indicated resources of 4.04 million ounces gold and inferred resources of 801,000 ounces. This represents a 29% increase to the company’s previous measured and indicated estimate.
President/CEO Diane Garrett commented, “Our drilling program for 2011 was a success on all fronts. We cleared the areas we needed for condemnation, converted much of our inferred to measured and indicated, made significant increases in our resources at Haile and had great success in our regional exploration away from Haile. These were our four goals for exploration for the year and our team hit a grand slam. We learned a lot about this very complex system, and it will pay off in continued exploration at Haile and in the region.”
or Dan Symons
VP Investor Relations
by Ted Niles