Printer Friendly

Royal Standard Minerals Completes First Round of Diamond Core Drilling.

RICHMOND, Va.--(BUSINESS WIRE)--Nov. 22, 1996--ROYAL STANDARD MINER (ME:RSM.) Royal Standard Minerals, Inc. has recently completed the first round of diamond core drilling at its' Pinon property in Elko County, Nevada. The 40,000 acre property, located 10 miles south of Newmount's Rain mine on the Carlin trend, hosts two potentially bulk mineable gold deposits (Dark Star and South Bullion). Core drilling was focused on the surface portion of the South Bullion deposit which is estimated to contain an open pit resource of 6.58 million tons grading 0.026-0.029 opt gold in two zones (Main Zone and North Pod Zone). This reserve is part of a resource that contains approximately 38.3 million ton 0.026 opt gold.

A preliminary assessment of the economic viability of the deposit was completed in September by Bharti Engineering Associates of Toronto. Based on their recommendations, RSM began a fill-in diamond core drilling program (8340 feet in 42 holes) in late October. The objective of the program is to improve confidence levels in the deposit by confirming ore grades and continuity, increase potential ore reserves, and provide material for additional metallurgical testing. This was the fist time core drilling was attempted on this deposit.

A total of 1354 feet in seven (7) mostly shallow holes (SB96-140 through SB96-146) were completed before adverse weather conditions forced the operation to stop for the season.

Results of the 1995 drilling program thus far demonstrates that the near surface resource at South Bullion can be expanded. Of particular interest is the central high grade core area in the main Zone which remains poorly defined, an area 50'-100' by 400' remains open to the southeast of core hole, SB96-146, which intersected 133 feet of intensively silicified Webb formation. The thick (higher than 100') high grade sections in the core area of the deposit are structurally controlled along the crest of an anticline whose northeast limb is steeply dipping. Past RC drilling generally penetrated this limb down dip. Additional diamond core drilling is planned to better delineate the structural geology and gold distribution in this area. Further, definition of the core area could significantly expand the reserves in this area.

RSM believes that the diamond core drilling program at South Bullion is necessary at this stage of the project in order to gain a better understanding of the deposit's geology, structural features, and distribution of ore-grade mineralization.

A total of 137 split core samples were collected from these holes and sent out for assay analysis. Results are pending.

CONTACT: Royal Standard Minerals, Inc.

Roland Larsen, 804/ 225-0186

COPYRIGHT 1996 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1996, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Nov 22, 1996
Previous Article:Kmart and Sensormatic sign contract to accelerate source tagging.
Next Article:Kideo Productions and Sears Portrait Studios announce marketing partnership.

Related Articles
IGR significantly expands drill indicated gold resource in Ghana.
Royal Minerals Inc. is evaluating possible joint venture participation on its Carlin Trend Nevada Project - drilling to commence in early September.
Royal Standard Minerals: Preliminary Assessment of the Economic Viability of the South Bullion Gold-Silver Deposit Completed.
Royal Standard Minerals: New Rock Chip Geochemical Results.
Royal Standard Minerals: Latest Assay Results.
Royal Standard Returns Promising Gold and Silver Assays From its Caliente, Nevada Project.
Ourominas Drilling Extends Mineralization at Jaruana Test Heap Leach Project Planned.
McVicar Minerals Inc. Drilling Starts On McVicar Lake Property In Northern Ontario.
Royal Standard Minerals Inc.: Nevada Property Indicates Near Surface High Grade Gold Values.
CaribGold Reports Nine Month Financials for 1998 With Update On Cuban Drill Program Status.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters