RSM Gold-Silver Exploration Plans for 2008 in Nevada
13 February 2008 - 1:00AM
Marketwired
MANHATTAN, NEVADA (OTCBB: RYSMF) -
The Company has completed exploration plans for the 2008 field
season. During the month of January both drills were set up on the
Railroad Cu-Mo-Au project. Due to heavy unseasonal snowfall the
drills were moved off the property with one drill moved to the
Dixie-Comstock gold-silver property, the second drill will be set
up on the Fondaway gold property both projects are located in
Churchill County, Nevada as indicated by Qualified Person, Roland
M. Larsen.
The Dixie-Comstock property core drilling program is directed
toward testing selected target areas that have been previously
drilled (and extension drilling into untested) zones, an epithermal
system, indicating bonanza gold-silver grades. This program will
acquire confirmation data for the completion of a NI-43-101
resource report. This property has been intensively drill tested by
Santa Fe, Asarco, Horizon Gold Corp. and others over the past 30
years. The property has experienced some limited underground mining
in the 1930's.
RSM will drill test areas within a zone of mineralization that
currently has a strike length of more than 1,000 feet and a drill
tested width of approximately 400 feet that is apparently open at
depth. The system has been tested with approximately 200 drill
holes indicating very promising near surface mineralization that
appears to deepen in a stair step manner toward the northeast that
is proximal to the north-trending range front faulting.
The Fondaway Canyon gold property drilling program is designed
to expand the gold resource base within a 3,700' strike segment
that is part of a more than 12,000' strike length gold mineralized
trend that has been drill tested with more than 500 drill holes and
approximately 200,000 feet of drilling. Within this more
intensively drilled 3,700' strike length interval RSM will
concentrate upon infill drilling for additional on strike drill
data and down dip extension drilling in this area. A portion of
this interval was included within the current NI-43-101 resource
report by Strachan, 2003, contains an estimated measured resource
of 390,000 tons of 0.428 opt gold and inferred resource of 372,000
tons of 0.408 opt gold. The current effort will focus upon
improving upon the resource base for the bulk of the 3,700' strike
length that has been previously tested and proposed for potential
underground development by Tenneco Minerals Inc. The second company
drill will be installed to carry out this testing as soon as the
drilling permits are received.
When the access can be achieved, hopefully in April, 2007, the
company plans to return to the Railroad Cu-Mo-Au property. Another
drill may be required to get this drilling program underway again
when weather conditions permit. The focus of this effort will to
acquire sufficient drill data to complete an updated NI-43-101
resource report.
At Goldwedge we will continue with the operation of the plant
and processing of the lower grade gold stockpiled material.
Additionally, underground drifting to include the construction of
cross cuts and extending the decline will be completed. The permit
renewal process with the Nevada Department of Environmental
Protection to include the amendment for the waste storage
expansion, the rapid (water) infiltration basin construction and
the flotation circuit installation will continue toward
completion.
On the Pinon gold-silver project RSM has completed the necessary
drilling last year for the environmental program on the deposit and
the proposed heap leach pads. The environmental consultants expect
to have a second draft of the Water Pollution Control permit
completed in March, 2008.
RSM is an exploration and development company with advanced gold
projects in Nevada. For further information about this release
contact Mr. Rich Kaiser, Investor Relations, 800-631-8127.
Royal Standard Minerals cautions that the statements made in
this press release and other forward looking statements made on
behalf of the Company may be affected by such other factors
including, but not limited to, volatility of mineral prices,
product demand, market competition, imprecision of mineral
estimates, and other risks detailed herein and from time to time in
the Securities and Exchange Commission filings of the Company.
C.U.S.I.P. #
LISTED: STANDARD & POORS
The TSX.V Exchange does not accept responsibility for adequacy
or accuracy of this release as per Exchange Policy 3.3 section
6.5.
Contacts: Royal Standard Minerals Roland Larsen Qualified Person
NI-43-101 775-487-2454 775-775-2460 (FAX) Royal-Standard.com
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