Roca Mines pushes to get MAX from moly mine this fall
Roca Mines Inc (C:ROK)
Shares Issued 47,608,402
Last Close 5/31/2006 $0.62
Wednesday May 31 2006 - News Release
Mr. Scott Broughton reports
ROCA BEGINS MAX MOLYBDENUM MINE DEVELOPMENT
Roca Mines Inc. has commenced underground and surface work for its phase I mine development at the company's MAX molybdenum project, located 60 kilometres (36 miles) southeast of Revelstoke, B.C.
Underground rehabilitation and other preparatory development work for the phase I mine has begun in the existing production-sized access adit. Underground equipment is being mobilized for the main decline development work which is scheduled for late June, 2006.
Detailed surveying and preliminary surface work at the proposed mill location at the MAX site are also now in progress. Excellent bedrock foundations for the mill are exposed or near surface over the proposed plant site area. As previously reported, Roca has acquired, and is currently dismantling, a complete 1,000-ton-per-day (tpd) mill and concentrator. With that acquisition, the company also obtained the original engineering plans for the mill facility allowing for rapid dismantling, transport and reconstruction of the mill and related equipment. Plant site foundation work at the MAX project is also on schedule to begin in June, 2006.
Roca's contractors are also engaged in upgrading existing roads to access all of the primary construction areas. Other construction work to commence in June, 2006, include detailed surveys of the tailings facility and planning of water management structures and water diversions. Earthworks construction at the proposed tailings facility is scheduled for July, 2006, to coincide with a period of historically low water flow.
Roca aims to be the first new primary molybdenum producer in Canada, with production commencing in the fall of 2006. The fully permitted and fast-tracked 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 (approximately 7.2 million pounds of contained molybdenum). Mine expansion will be determined by prevailing prices for molybdenum in 2007 and beyond. Molybdenum currently trades in the $25.50-(U.S.)- to $26-per-pound range.
© 2006 Canjex Publishing Ltd. |
