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Rocmec Intercepts Boucher Vein at Rocmec 1


🞛 This publication is a summary or evaluation of another publication
VAUDREUIL-DORION, QUEBEC--(Marketwire - Nov. 10, 2009) - Rocmec Mining Inc. (the "Company") (TSX VENTURE:RMI)(FRANKFURT:D5O) is pleased to update shareholders on the 2009 diamond drill campaign currently in progress at the company's Rocmec 1 gold property, located in Rouyn-Noranda, Quebec.
Two holes are now completed and both have intercepted the Boucher structure at depths from between 288 metres and 340 linear metres.
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DDH from (m) to (m)
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RS-01-09 336.0 340.4
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RS-02-09 288.7 292.5
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The Boucher Zone corresponds to a shear zone with major chlorite alteration. This shear zone is within a moderately chloritized diorite intersected by many quartz vein lets. The present mineralization is mostly found as disseminated pyrite within the matrix. Many samples were sent for analysis to the SGS Mineral Services laboratory in Lakefield, Ontario. Assay results are pending and Rocmec will disclose results soon.
Rocmec Mining Inc. is a Canadian junior exploration company actively involved in the acquisition, exploration and development of precious metal projects. The Company's exclusive thermal fragmentation process combined with its growth strategy place it as the partner of choice for the development of narrow veins with high-grade precious metal properties. The Company's shares are listed on the TSX-Venture (RMI) and the FSE (D5O) exchange.
Rocmec's growth strategy is to focus on the development of quality assets that will significantly enhance shareholder value. Exploitation of narrow high-grade precious metal quartz veins with its exclusive thermal fragmentation process coupled with conventional mining methods will lead the Company in becoming a mid-size gold producer. The acquisition, development and future exploitation activities the company's Rocmec I property are an excellent example of this strategy.
Thermal fragmentation...mining ounces not TONNES!
The Thermal Fragmentation Mining Method video can be viewed on Rocmec's website or by clicking the following link: [ http://www.rocmecmines.com/video_an.asp ]
Rocmec also announces the closing of a private placement of 1,658,000 flow-through shares of the Company, including 300,000 from insiders of the company at a purchase price of $0,105 per share, for a total subscription amount of $174,090. The private placements are subject to final TSX Venture Exchange acceptance for filing. All securities issued are subject to a four-month hold period from the closing date expiring on March 10th, 2010.
Also subject to final approval from the TSX Venture Exchange, Rocmec announces that during its board of directors meeting held on October 20th, 2009, the board, within the framework of the company's Stock Option Purchase Plan granted 1,630,000 share purchase options of Rocmec stock to its directors, officers, employees and consultants. The board fixed the price of the stock options at $0.095 per share as per the closing price of the stock on November 9, 2009.
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Corporation expects, are forward looking statements. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
The technical data from the 2009 diamond drill campaign included in this press release was prepared and validated by Mr. Maxime Dupere, geologist from SGS Geostat Limited of Blainville Quebec, technical consultants of the company.
Neither 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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