|Thu Aug 17, 2006|
ROCA - Senior Exploration Board for MAX Molybdenum Project
| ||Vancouver, British Columbia: Roca Mines Inc. (ROK: TSX-V) ("Roca" or the "Company") announces that it has formed a senior exploration board for the Company's MAX Molybdenum Project, located 60 kilometres (36 miles) southeast of Revelstoke, British Columbia.|
Phase I construction and mine development activities at MAX are progressing on schedule with site work focusing on the mine to commence production by late 2006. With many of the Company's project milestones having been achieved, planning can now begin for a new phase of exploration drilling to begin in 2007. Also, new underground workings being developed for the Phase 1 mine will provide drilling stations from lower positions on the deposit.
Prior to the cessation of exploration work by Newmont Canada and Esso Minerals in the early 1980's, three drill holes below the existing MAX resource boundary intersected molybdenite mineralization indicating that the deposit is open at depth. Geological and structural similarities exist between the MAX and the Urad deposit, located in Colorado. Urad is the upper or "stacked" deposit to the famous Henderson mine, one of the world's largest underground mines and largest primary molybdenum producer in the USA, operated by Phelps Dodge.
Roca's exploration board will convene for the first time at the MAX site on August 21, 2006 with a mandate to identify exploration opportunities and define strategies for conducting new exploration work in the following areas;
- Below the known MAX deposit for potential stacked Urad/Henderson-model geology;
- Previously untested molybdenum targets at or near surface; and,
- Tungsten targets near surface and underground adjacent to the MAX deposit.
Members of the MAX exploration board include senior exploration geologists with significant experience in molybdenum porphyry deposits, including raw discoveries and resource definition;
Dr. N.C. Carter, P.Eng. has extensive experience with BC molybdenum deposits, including; Endako, Alice Arm, Lime Creek (Kitsault), Roundy Creek, Bell Moly, Trout Lake (MAX) and Tidewater deposits. He has reviewed the Climax and Henderson deposits in Colorado and examined the Quartz Hill deposit in southeast Alaska. Dr. Carter is the author of numerous publications on molybdenum and copper porphyry deposits.
Mr. Don Davidson, M.A.Sc. has spent much of his career in Western Canada and the United States with Climax Molybdenum Company based at their operations at the Climax Molybdenum Mine in Colorado. He was Resident Geologist to their major underground exploration project at Yorke Hardy (now the Davidson deposit) in Smithers, BC and his experience has included most phases of detailed and regional geology with direct molybdenum experience at Climax Colorado, Yorke Hardy, Kitsault and Ruby Creek, BC.
Mr. David Jonson, MS Geol. worked at US and Canadian molybdenum porphyry deposits for much of his career, including the Chief Geologist position at the Climax Molybdenum mine where he also discovered the Ceresco Ridge orebody. He was also instrumental in developing the important Intramineral Model at Climax which has since been successfully used to explore for stacked and buried molybdenum orebodies world-wide, but specifically at the famous Urad-Henderson deposits.
Mr. Terry Macauley, P.Eng. has spent much of his career with Newmont Exploration of Canada managing and supervising exploration in western Canada - he was directly responsible for the exploration and evaluation program at the Trout Lake deposit, now Roca's MAX molybdenum property. Also, his consulting career has included nine years as the mining consultant to the British Columbia Securities Commission, during which time he was involved in the development and implementation of National Instrument 43-101 setting standards of disclosure for mineral projects.
Mr. John Baker has been a senior geological advisor to Roca since 2003 and will also be a key member of the new exploration board. Mr. Baker has experience on a wide variety of mineral deposits, including various porphyry types. In the late 1980's and 90's, Mr. Baker was instrumental in directing and managing the growth of JT Thomas Drilling Ltd., a successful international diamond drilling company that was ultimately acquired by Major Drilling Group International Inc. in 1997.
Roca plans to be the first new primary molybdenum producer in Canada, with production to commence in late 2006. The permitted Phase I mine plan for MAX will focus on the deposit's high-grade zone containing 280,000 measured and indicated tonnes grading 1.95 per cent MoS2 (refer to T.N. Macauley's 43-101 compliant technical report dated September, 2004). Molybdenum currently trades in the US$26 per pound range and is a key alloy in the manufacture of stainless and specialty steel, including pipelines and other energy-related steel infrastructure.
ROCA MINES INC.
Scott E. Broughton, P.Eng. -- President & CEO
For further information contact:
Email: [email protected]
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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