 |  |   Wed Apr 7, 2004
MAX Molybdenum Project - Initial Drill Permit Received
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| | Vancouver, British Columbia, April 7, 2004: Roca Mines Inc. ("Roca", the "Company") announces that it has received a British Columbia Mines Act Permit for an initial surface diamond drill program at its MAX Molybdenum Project, formerly the Trout Lake Property. The MAX Project is road accessible and located approximately 60km south of Revelstoke in southeastern British Columbia. The property includes a defined molybdenite deposit, of which a small portion of the eastern edge is owned by Newmont Mining Corporation.
The MAX Project was initially explored for molybdenum in 1969 by Scurry Rainbow Oil Ltd., in 1975 by Newmont Mining Corporation and by a Newmont/Esso Minerals Canada Ltd. joint venture from 1976 to 1982. The Esso/Newmont JV outlined a molybdenum mineralized system by approximately 42,000 m (138,000 ft) of surface and underground diamond drilling and provides the basis for the following resource estimates, all calculated prior to existing National Instrument ("NI") 43-101 classifications:
i. 49 million tonnes grading 0.19% MoS2 at a 0.1% cutoff (Linnen et al, 1995);
ii. 48.7 million tonnes grading 0.193% MoS2 at a 0.1% cutoff (Boyle, 1989); including:
11.7 million tonnes grading 0.362% MoS2 at a 0.2% cutoff (Boyle, 1989); and,
iii. 50 million tons grading 0.23% MoS2 at a 0.1% cutoff (Boyle and Leitch, 1983)
In addition, BC Government Minfile data reports "the pipe-like stockwork deposit extends from surface to a depth greater than 1,000 metres and currently contains estimated reserves of 49 million tonnes grading 0.19% MoS2 (Linnen et al, 1995)." Trout Lake BC Minfile #082KNW087. These statements are dated and do not meet the current classifications of mineral resources or reserves defined by NI 43-101, and are considered to be exploration information only.
Existing underground development on the property includes a 6 m (20 ft) wide adit approximately 2,000 metres (6,500 ft) in length to the mineralized system. Roca is planning an initial exploration program that will focus on confirming the potential of the known higher grade (in excess of 1% MoS2) zones that are up to 20 metres (65 ft) wide by 200 metres (650 ft) long and hosted within the main deposit area.
W.A. (Sandy) Sears, P.Geo. is the Company's qualified person as defined by NI 43-101 and will supervise the initial drill program planned to commence in May 2004.
ROCA MINES INC.
"Scott Broughton"
Scott E. Broughton, P.Eng -- President and CEO
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: mailto:[email protected] / mailto:[email protected] / mailto:[email protected]
Web: http://www.rocamines.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. |
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