 |  |   Tue Dec 9, 2003
Roca Acquires SEAGOLD Property
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| � | ROK:TSX.V#18-03
Vancouver, British Columbia, December 9, 2003: Roca Mines Inc. ("Roca", the "Company") announces that it has signed an option agreement to acquire a 100% interest in the SEAGOLD Property, located in the Eskay/Iskut Camp in northwestern British Columbia, Canada.
Roca will pay $25,000 upon TSX Venture Exchange approval of the agreement and must issue 25,000 shares to the vendor on or before May 1, 2004. To earn its 100% interest, Roca must pay an additional $75,000 and issue 175,000 shares to the vendor in stages prior to December 1, 2006. The property is subject to a 2.5% Net Smelter Return held by the vendor reducible to 1% upon payment of $2 million.
The SEAGOLD Property is located west of Newmont Lake, approximately 10 km south of the Company's FOREMORE Project and 35 km north of Barrick Gold's Eskay Creek gold/silver mine. The property comprises 160 units in 8 claim blocks and covers an area of approximately 40 sq.km, centred on a number of gold and copper occurrences. Three types of gold mineralization on the property are noted including sedimentary exhalative (SEDEX) massive sulphides, shear-vein and skarn related. Mineralized float discovered at SEAGOLD assayed up to 2.98 oz/ton gold in vein-type boulders and 1.66 oz/ton in SEDEX-type boulders.
The Company is currently planning its 2004 field programs for the FOREMORE, PBR and SEAGOLD projects.
ROCA MINES INC.
"David Skerlec"
David J. Skerlec -- Chief Financial Officer
For further information contact Scott Broughton, John Mirko or David Skerlec at:
Tel: 604-684-5900 (Broughton Ext. 114 / Mirko Ext. 110 / Skerlec Ext. 147)
Email: [email protected] / [email protected] / [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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