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Rocmec Signs Option to Acquire 6 Narrow Vein Gold Concessions in Peru
Thursday November 8, 9:45 am ET
POINTE-CLAIRE, QUEBEC--(Marketwire - Nov. 8, 2007) - ROCMEC MINING INC. (the "Company") (TSX VENTURE:RMI - News; FRANKFURT:D5O - News) is pleased to announce that it has signed an option agreement to acquire 6 narrow vein gold concessions in Peru. The concessions cover 1,700 hectares and are located approximately 80 km from the city of Arequipa. One of the concessions is currently in operation using small-scale traditional mining methods, producing about 10 tonnes of very high grade ore daily. The option is valid for 6 months from signing at a cost of $100,000 USD. An initial $50,000 USD was paid upon signing, the remaining $50,000 USD will be employed for due diligence purposes.
All the necessary mining services are readily available in Arequipa and the 80 km distance between the city and the properties is well traveled by an access road that is used daily to transport ore and mining materials to and from the site. Rocmec plans on developing the project with a Canadian partner, RSW-Beroma, who has been travelling extensively in Peru for the past three years especially in the Arequipa area evaluating the best gold properties.RSW-Beroma design and build modular ore treatment plants. This type of system is complementary to thermal fragmentation because these low volume plants can treat the high-grade ore produced by the usage of the thermal process.
During an on-site visit by the president of Rocmec accompanied by the president of Beroma and a Canadian geologist, they visited the mining site and underground drifts. The existence of highly mineralised quartz veins was apparent upon visual inspection. Several samples that were brought back to Canada contain visible gold. The due diligence process is underway and currently, on-site, over one hundred samples from underground workings (mineralised zone and hanging wall) have been gathered and sent for analysis to the ALS/Chemex laboratory in Lima, Peru. Work to be conducted over the next two months will include stripping, locating and sampling of the veins.
Considering that Rocmec plans on extracting the ore by way of thermal fragmentation, several scenarios are being elaborated pertaining to the manufacturing and emplacement of a 100tpd modular ore treatment plant.
"This project is not only a perfect fit for our technology, it fits perfectly within the framework of our mission statement of employing our patented thermal fragmentation to develop high-grade narrow vein ore deposits around the world" states Donald Brisebois, President and CEO of Rocmec.
Subject to the approval of the TSX Venture stock exchange, the Company announces that it has completed a secured debt financing with six (6) arm's length lenders for an amount of $874,000. The maturity date of the loan is April 30, 2008. The loan will bear an annual interest of 15%.
The repayment of the loan including capital amount and interest has been guaranteed with refundable resource tax credits to which the Company is entitled to from the ministere du Revenu du Quebec for the fiscal year ended September 30, 2007.
In order to secure this financing, an aggregate of 291,332 share purchase warrants have been issued to the lenders. Each share purchase warrants entitles its holder thereof to subscribe to one additional common share of the Company at a price of 0.195$ for a maximum period of 24 months. The number of share purchase warrants will be decreased proportionally to any partial or full repayment of the loan by the Company before the maturity date of the loan.
The granting of the loan has been required for the implementation of the business plan of the Company prior to the completion of additional equity financing.
About Rocmec Mining
Rocmec Mining Inc. is a Canadian junior exploration company actively involved in the acquisition, exploration and development of precious metal projects. The Company's exclusive thermal fragmentation process combined with its growth strategy places it as the partner of choice for the development of narrow high-grade precious metal quartz vein projects. The Company's shares are listed on the TSX-Venture (RMI) and the FSE (D5O) exchange. The company's growth strategy is to focus on the development of quality assets that will significantly enhance shareholder value.
"Thermal fragmentation - the way of the future for mining narrow high-grade veins"
The development and mining of narrow high-grade vein deposits with its exclusive thermal fragmentation process should enable the Company to demonstrate the economic plus-value of this technology. The acquisition, exploration and mining development at the recently acquired Rocmec 1 (Russian Kid) property subscribe to this objective.
Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results may vary materially from those in these "forward-looking statements".
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
updated 10:42 a.m. ET Nov. 20, 2007
POINTE-CLAIRE, QUEBEC - Rocmec Mining inc. (the "Company", (TSX VENTURE: RMI)(FRANKFURT: D5O) is pleased to announce results of the first sampling programme initiated on the Puma property, located 80 km from the city of Arequipa, Peru. The sampling is part of the due diligence being conducted on the Puma property following a purchase option agreement signed between the parties in November 2007 (see press release dated November 8th, 2007). Most of the samples were taken from the drifts, the others were taken from surface and from the small on-site mill.
The samples were collected under the direct supervision of Mr. Pierre C. Labreque, an independent engineer-geologist. Mr. Labreque, knows this part of the world very well, having been mandated by other mining companies in the past. The objective was to systematically sample, over a length of 65 metres, the mineralised veins located in the underground drifts. Samples from the veins, hangwall and footwall were taken every 5 metres over the entire length.
The sampling work conducted also revealed that the quartz veins contain an important quantity of hematite. Management is very pleased with results obtained from the CIMM Peru S.A. laboratory, located in Lima, Peru.
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In addition to the sampling, the due diligence process currently underway also includes title verification, systematic stripping and sampling of surface veins in order to verify their gold potential close to underground excavation. Management will also analyze the costs associated with the construction of a 100 tpd modular treatment plant that would be located on-site or nearby. Additionally, subject to the availability of a diamond drill, management plans on conducting diamond drilling on the property before exercising its purchase option.
This news release has been prepared and revised under the surveillance of Mr. Pierre C. Labreque, an independent engineer-geologist.
About the Puma property
The Puma property contains 6 narrow vein gold concessions covering 1,700 hectares and located approximately 80 km from the city of Arequipa, Peru. One of the concessions is currently in operation using small-scale traditional mining methods, producing about 10 tonnes of very high grade ore daily. All the necessary mining services are readily available and distance between the city and the properties is well traveled by an access road that is used daily to transport ore and mining materials to and from the site. Rocmec plans on developing the project with a canadian partner, RSW-Beroma, who has been travelling extensively in Peru for the past three years especially in the Arequipa area evaluating the best gold properties.
Release
Rocmec Mining Inc. Symbols: RMI: TSX-V
D5O: FSE
ROCMEC INTERCEPTES BOUCHER VEIN AND CUTS 132.21 G/T OVER 51 CM
Pointe-Claire, Quebec, April 22nd, 2008 – Rocmec Mining inc. (TSX-V Symbol: RMI - FSE Symbol: D5O) is pleased to announce that it has once again intercepted the mineralised Boucher structure (drill hole RU-03-08), this time however, some 200 metres west of previous drill holes (click here to view sketch).
It is the eighth time that Rocmec intercepts the structure from below surface at different elevations ranging from 75 metres to 430 metres. The structure is open in both the eastern and western extensions and at depth and the grades encountered are very favourable for Rocmec’s thermal fragmentation mining method. Furthermore, the data gathered to date indicates that the mineralised structure is getting increasingly closer to the work areas currently being developed by Rocmec’s employees. Underground diamond drilling from the 90 metre level is ongoing and will continue for some time.
“While we are satisfied with the development of the mine up to now, current metal prices and geological potential of the Boucher structure bring a great deal of optimism for subsequent events at the site” stated Mr. Donald Brisebois, President & CEO.
About Rocmec 1 property
The Rocmec 1 property includes 11 claims totaling 84 hectares and is located in Dasserat Township, some 35 km from two World-Class Mining Camps, the Rouyn-Noranda Copper Gold Camp to the SE in Quebec, and the Kirkland Lake / Larder Lake Gold Camp to the SW in Ontario.
The gold mineralization at the Rocmec 1 property is linked to east-northeast, centimetric and metric wide quartz veins, dipping moderately to steeply to the south, within a kilometric long by 600 meter wide gabbro to granodiorite intrusive host. There are at least six major vein systems identified on the property. The veins are part of diverging and converging, or anastomosing, fracture system than includes shearing, alteration (silica, chlorite, sericite, epidote and carbonate) and 2 to 10% disseminated and vein-type pyrite that can attain overall widths in excess of 30 metres.
A National Instrument 43-101 compliant report, providing technical data relating to the quantified mineral resources dated March 19, 2007, prepared by Systèmes Géostat International Inc. of Blainville, (Quebec) Canada is available on www.sedar.com.
About Rocmec Mining
Rocmec Mining Inc. is a Canadian junior exploration company actively involved in the acquisition, exploration and development of precious metal projects. The Company's exclusive thermal fragmentation process combined with its growth strategy positions it as the partner of choice for the development of narrow high-grade precious metal quartz vein projects. The Company’s shares are listed on the TSX-Venture (RMI) and the FSE (D5O) exchange.
“Thermal fragmentation - the way of the future for mining narrow high-grade veins”
Rocmec Mining's growth strategy is focused on developing quality assets that will significantly enhance shareholder value by using the thermal fragmentation method throughout the Americas to extract narrow vein ore bodies. By utilising the thermal fragmentation method in combination with conventional mining methods, the company aims to become a mid-tier gold producer. In addition, by providing service agreements, the company intends to generate additional revenue and accelerate the spread of this unique technology.
Please visit us on the web at www.rocmecmines.com
For further information, please contact
John Stella, Manager Investor Relations
(514)428-4185
Cell (514)718-7976
FAX (514)630-6989
Rocmec Mining Inc. bearbeitet weiterhin Haufwerk auf der Russian Kid Mine (Rocmec 1). Eine kleine Menge an
Konzentrat wurde bereits bearbeitet, Rocmec wartet aber noch immer auf ein Zeitfenster, um Sulfidkonzentrat in der
Schmelze von Xstrata bearbeiten zu lassen. http://www.globexmining.com/images/german/124750958454084.pd…
Vielleicht kommt bald die Meldung das die soweit sind!
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