 |  |   Tue Nov 30, 2004
MAX Molybdenum Project: Hatch Associates Ltd. Retained for Engineering Studies
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| | ROK: #25-04
Vancouver, British Columbia, November 30, 2004: Roca Mines Inc. (the "Company") announces that it has retained Hatch Associates Ltd. ("Hatch") to conduct independent economic scoping studies for the MAX Molybdenum Project.
Hatch will base its scoping studies on the previously reported resource estimates prepared by the Company's independent qualified person and geologist T.N. Macauley, P. Eng (see ROK #16-04). The studies will initially focus on two primary cases for a mining operation from the existing underground adit:- CASE A: High-Grade Option - this case will review the engineering, cost estimates and financial models for a 'fast-track' mining and milling operation at a 0.50% MoS2 cutoff based on a measured resource of 1,010,000 tonnes grading 1.01% MoS2; and,
- CASE B: Bulk-tonnage, 2,000 to 3000 tonne-per-day Option - this case will review the engineering, cost estimates and financial models for a large-scale mining and milling operation at a 0.20% MoS2 cutoff based on a measured and indicated resource of 11,350,000 tonnes grading 0.36% MoS2.
As the price of molybdenum-oxide has recently traded at over US$25/lb, a key consideration of the engineering studies now will be to preserve the mineability of the larger, lower-grade system surrounding the higher grade core. The global measured and indicated resource, 42,940,000 tonnes grading 0.20% MoS2 at a 0.10%MoS2 cutoff, remains open at depth and exploration plans will focus on expanding this resource both at depth and in the areas surrounding the main deposit.
The MAX Molybdenum Project is road accessible year-round and is located approximately 60 kilometres southeast of Revelstoke, British Columbia. It was initially explored for molybdenum in 1969 by Scurry Rainbow Oil Ltd., in 1975 by Newmont Mining Corp. and by a Newmont/Esso Minerals Canada Ltd. joint venture from 1976 to 1982. As previously reported, existing underground development includes approximately 2,000 metres of adit, crosscuts and drifts.
ROCA MINES INC.
"Scott Broughton"
Scott E. Broughton, P.Eng. - President and CEO
For further information contact the Company at:
Tel: 604-684-2900
Fax: 604-684-2902
Email: [email protected]
Web: www.rocamines.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. |
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