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| | Tue Jan 17, 2006
MAX Molybdenum Project: Acquisition of Mill/Concentrator
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| | Vancouver, British Columbia: Roca Mines Inc. ("Roca" or the "Company") announces that its wholly owned subsidiary, FortyTwo Metals Inc, has agreed to purchase a complete 1000 tpd mill and concentrator, and related equipment for the MAX Molybdenum Project.
Subject to the terms of a purchase agreement dated January 17th 2006, the Van Stone Mill, located near Colville, Washington State, will be purchased for total consideration of US$325,000. The mill and equipment is well suited for use at the MAX Project and will significantly reduce capital costs, lead-time and engineering design requirements for the project. The rated capacity of the Van Stone mill is greater than the initial planned production at MAX and therefore provides a ready opportunity for possible future expansion of the project.
The well-maintained mill was originally built by ASARCO to process lead/zinc ore from the Van Stone Mine, most recently in 1993. It is located approximately 380 highway kilometres (230 miles) south of the MAX site. The Company plans to dismantle and move the mill, including; buildings, crushing, grinding and flotation circuits. Importantly, complete engineering drawings for the mill buildings and equipment will allow for rapid reconstruction at the MAX site.
Using the existing production-sized underground access to the MAX deposit, the Company's strategy to fast-track an initial high-grade mine and concentrator is intended to minimize the lead time to production and reduce initial capital costs and project risk. Expansion of the proposed initial mine will be guided by prevailing molybdenum prices and an assessment of ongoing operating costs in late 2006 and in 2007.
Mr. Scott Broughton, P.Eng. is the NI 43-101 Qualified Person responsible for the preparation of this news release.
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: info@rocamines.com
Web: www.rocamines.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. |
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