SHARES OUTSTANDING: 78,000,000 Approx.
FLOAT: 49,000,000 Approx.
SYMBOLS: RSM-TSXV (Toronto
Venture Exchange)
RYSMF- OTCBB (US
OTCBB)
Royal Standard Minerals Inc.:
Goldwedge Progress and Drilling Programs for Other Projects in Nevada
Aug
15, 2007 10:00:00 AM
MANHATTAN, NEVADA--(Marketwire
- Aug. 15, 2007) - ROYAL STANDARD MINERALS INC., "RSM", (TSX
VENTURE:RSM) (OTCBB:RYSMF). The Goldwedge underground program, Nye County, Nevada,
has continued with the advancement of the "B" zone, a separate
decline, has been developed northwest and on strike of the "A"
decline. This effort has identified at least three areas with quality gold
grades. The results of decline rib sampling returned indicated thickness of 25
feet of 0.575 opt/gold and two separate zones in this area with indicated
thicknesses of 15 feet each returned grades of 0.275 opt and 0.436 opt gold,
respectively. (The gold fire assay analytical work was completed by the
Company's inhouse laboratory.) This gold mineralization is included within a
110-120 feet wide interval of much lower grade (0.01-0.10 opt gold), but quite
significant, gold values, according to Qualified Person, Roland M. Larsen.
Metcon
Research of Tuscon, AZ has been evaluating the gold mineralized
material mined from Goldwedge for the purpose of making a determination as to
whether to construct a flotation circuit or to go immediately to a cyanide
vat/tank leach system to recover the remaining gold from this material after
the initial gravity recovery circuit. The initial results of this laboratory
work should be available this week.
Goldwedge
exploration drill hole GW-07-5 did not contain any significant gold mineralization.
The heavy clay and carbonate alteration of the core is encouraging. This area
was the site of significant fluid flow that may have functioned as conduits
within and adjacent to structures that possibly host the gold mineralization at
these depths (1,100-1,200 feet) and at shallower levels within the Goldwedge
deposit. Additional, deeper exploration drilling within this structural trend
is needed in an attempt to further explore the depth extent of the gold system
on this property.
Railroad
copper-gold project, Elko County,
Nevada, the drilling program has
started and is currently on the first drill hole to test a copper oxide target.
This program will test the copper potential of a large magnetic low that occurs
on the northeast portion of a large circular magnetite skarn zone.
Pinon
gold-silver property, Elko County,
Nevada, the Company has secured a
core drill to initiate these drill holes in August, 2007. This work is expected
to return data on current groundwater levels, core for rock quality data and
proposed heap leach pad bedrock/overburden characterization drilling required
by the federal and state regulators as part of the mine permit application
process.
Fondaway Canyon
gold-tungsten property, Churchill
County, Nevada, the
drilling program on the former Tenneco heap leach pad is expected to be
initiated and completed also in August, 2007. The Company has hired two
geologists, and an environmental consulting firm to assist in the completion of
the drilling programs for Pinon and Fondaway
Canyon.
RSM
is an exploration and development company with advanced gold projects in Nevada. The Company is
well capitalized, with nearly $10 million in cash, to meet its short and medium
term objectives.
The
TSX.V Exchange does not accept responsibility for adequacy or accuracy of this
release as per Exchange Policy 3.3 section 6.5.
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
FOR FURTHER INFORMATION PLEASE CONTACT:
ROYAL STANDARD MINERALS INC.
Roland Larsen
775-487-2454
Fax: 775-775-2460 (FAX)
Royal-Standard.com
Source: Royal Standard Minerals Inc.
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