|Mon Jul 11, 2011
ROCA - MAX Molybdenum Mine Schedule Update
|Vancouver, British Columbia: Roca Mines Inc. (TSX-V: ROK) ("Roca" or "the Company") announces that mine development work at the MAX Molybdenum Mine has advanced and crews are nearing production re-start.
During final installation of geotechnical monitoring instruments at the 830 level rib pillar, it was discovered that the actual thickness of the rib in that section of the ramp was less than previously predicted by test holes drilled in August of 2010. The rib pillar is an intact section of rock between the stope wall and the main access ramp and is required to ensure the stability of the ramp opening.
While the 830 level rib pillar has continued to demonstrate its stability over the past nine months, now that it has been observed to be thinner than originally predicted, the mine's geotechnical consultants have recommended the development of a new 60-metre section of primary access ramp to bypass this area. The mine's development contractor is now setting up to begin that bypass work and estimates completion in approximately two weeks.
During the bypass development work, the 830 rib pillar will be monitored continuously and access controlled based on daily instrument readings and observations of ground conditions. Work will continue on longhole production drilling and other development activities associated with the next production stope. All other systems of the mine will be completed during this period such that production of molybdenum concentrates can commence immediately upon completion of the bypass.
Management's goal to restart production at the MAX molybdenum mine and to advance its permitted 1,000-tonne-per-day expansion plans will reduce unit costs and preserve the opportunity to produce concentrates in an appreciating price environment. Molybdenum oxide currently trades at approximately US$14.50 per pound.
ROCA MINES INC.
Scott E. Broughton, P.Eng. - President and CEO
For further information contact:
Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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