SHARES OUTSTANDING: 78,000,000 Approx.
FLOAT: 49,000,000 Approx.
STOCK
SYMBOLS: RSM.V and
RYSMF-OTCBB
RSM: Goldwedge Project Test Mining and Onsite Processing Plant Continues to
Advance Toward Full Production Nye
County, Nevada
Jun
4, 2007 9:00:00 AM
MANHATTAN, NEVADA -- (MARKETWIRE) -- 06/04/07 -- Royal
Standard Minerals (TSX VENTURE: RSM)(OTCBB: RYSMF) announces its first gold
pour with its onsite smelter from production yields approximately 30 ounces
(934 grams) of gold dore'. The plant has been processing low grade gold
(0.03-0.05 opt (1-1.56 grams/t) feed material to test the overall crushing,
grinding, concentration and recovery system. As a result, it takes more
throughput coupled higher head grades to achieve an acceptable level of gold
production. At the current grades it takes approximately 30 tons of material to
be processed to produce one ounce of gold. Our throughput has been below the
target levels, 5-10 tons per hour, as part of the startup and is expected to
improve to 30-35 tons per hour. We expect to run more of the low grade material
for the next 1-2 weeks before commencing throughput of some of the better
material that has been set aside, grading between 0.3 to 0.5+ opt (9.38-15.6
g/t) through the plant according to Roland M. Larsen, qualified person.
Core
drilling continues on a deep drill program includes a series of drill holes
from northeast to southwest across the down plunge projection northwest of the
Goldwedge deposit. The initial three (3) holes encountered thick sections of
volcaniclastic sediments with interlayered volcanic tuffs. The first hole cut
131.5 feet of carbonate from 625'-756.5' drill indicated, this carbonate
interval has been sent out for assay. The fourth (4) drill hole is in a
carbonate section believed to be the Zanzibar
formation and is currently above 200 feet. The next drill hole will be a deep
test under drill hole MH-16, a hole that returned 220 feet (550'-770')
averaging 0.365 opt (11.3 g/t) gold. The drill hole bottomed in 0.216 opt gold
(6.75 g/t) A portion of this mineralization is included within a mineralized
volcanic breccia at depth.
At the
Fondaway Canyon gold property, the environmental engineering firm Dyer
Engineering Consultants and will assist the Company with securing the state and
federal permits necessary and will carry out the drill testing and sampling
program on the former Tenneco heap leach pads. If test results are positive RSM
will make plans to re-permit a new leach pad at this site.
Management
will continue to update production progress at Goldwedge as often as possible
and further report on the deep drilling results as they become available.
For
further information contact Roland Larsen and/or Rich Kaiser, Investor
Relations at #8006318127.
Royal
Standard Minerals cautions that the statements made in this press release and
other forward looking statements made on behalf of the Company may be affected
by such other factors including, but not limited to, volatility of mineral
prices, product demand, market competition, imprecision of mineral estimates,
and other risks detailed herein and from time to time in the Securities
and Exchange Commission filings of the Company.
C.U.S.I.P.
# 780919106
LISTED:
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STOCK
SYMBOLS: RSM.V and
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