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Royal Standard Minerals Inc.
RSM:
Progress at the Goldwedge Project to Include Potentially Significant Surface
Core Drilling Results and Drilling to Commence on the Railroad Copper Prospect,
Elko County, Nevada
Monday
July 9, 8:30 am ET
MANHATTAN, NEVADA--(CCNMatthews -
July 9, 2007) - ROYAL STANDARD MINERALS INC. (TSX VENTURE:RSM - News; OTCBB:RYSMF
- News; "THE COMPANY"). The Goldwedge
project plant operations have been going through the normal startup issues over
the past two months with daily throughput of gold mineralized material to
include very common slurry pump shut downs and clean outs of one of ten high
volume slurry pumps that transport mill feed, gold concentrates and waste
products within the plant. This is due to irregular water and feed material to
a particular point in the system. Improvements are occurring daily with more
continuous usage of the plant and maintaining longer periods of uniform
throughput. We are continuing with the lower grade feed material until all of
the issues are reduced to low impact levels to facilitate continuous plant
operations. This work also includes a series of small gold pours in order to
test the entire system from mine feed to onsite pouring of dore'. This work is
part of the process toward evaluating the overall feasibility of the project
that to this point continues to be favorable, according to Roland M. Larsen,
Qualified Person.
The
Company plans to install a flotation circuit to process the thickener tank
products, fine gold bearing material (200-400 mesh) that is currently going to
the leach pad. Processing this material with flotation will help insure
maximize future gold and silver recoveries. We are working with Metcon of
Tucson, AZ to continue with the testing and design work for the plant. A flow
diagram that integrates with our current plant configuration is necessary for
the approval of modifications to our existing mining permit. Metcon's earlier
test work in January, 2007 indicated that recoveries of more than 96% for gold
and silver could be achievable with the addition of a flotation circuit.
The
Company has completed five (5) surface diamond drill holes on the Goldwedge
property during May and June, 2007. Four (4) of the holes are part of a fence
of holes across strike, northwest of the current underground mining program,
east of west of the identified northwesterly structures that host the gold
mineralization. The first three drill holes were set up to explore on the
eastern edge of the projection of the gold mineralized trend and to determine
the thickness of the volcanic cover and the potential that the volcanics were
underlain by prospective limestone units. The first three drill holes indicated
that the volcanic cover is thick extending to more than 900 feet in depth in
this area. No chemical analyses have been completed for these holes, except a
section of limestone encountered in the first drill hole, the balance of the
core the volcanic sections are of lower priority and will be analyzed as time
permits. The fourth drill hole located west of the first three holes and west
of the projected gold mineralized trend cut long sections of the mine host
limestone units to a depth of 917 feet. Assay results for the upper portion of
this drill hole have not returned notable gold values, the results of analyses
for the lower portion of the hole are to be completed.
The
fifth drill hole, GW-07-05, was placed to test the down dip extension of drill
hole MH-16 that included a gold mineralized section of drill indicated 220'
(550-770') of 0.365 opt gold the hole bottomed in 0.216 opt gold at 770 feet.
The latest drill hole was completed to 1,120 feet drill depth. The lithologic
section within the current core hole compares very favorably to drill hole
MH-16 that includes highly altered siltites/argillites, quartzite intervals and
interbedded carbonate sections. Alteration includes long sections of heavily
sericitized and carbonate altered sequences from approximately 160' to about
800' drill depth followed by pervasive carbonate alteration to approximately
1,000 feet drill indicated depth. The drill hole bottomed in what appears to be
a highly altered (sericitized and pyritized) fragmental volcanic unit or
sedimentary breccia. Sulfide distribution within the entire section is constant
at several percent with local sections that may contain up to 10% total
sulfides as veins and disseminations within the core. The pattern of alteration
and sulfide distribution within this lithologic package looks promising and may
extend the depth extent and the prospective environment outside of the
carbonate section that hosts the gold mineralization in this area. This hole
can be reentered if the analytical results indicate that this is necessary or
if further study of the rock package and alteration indicates that deepening or
extending this hole is necessary. The core from this hole has not been analyzed
as yet, we expect to have the chemical analyses completed soon.
The
drill rig is to start drilling this week on the Railroad copper prospect located
in Elko County, Nevada. At this point there are 12 drill
holes permitted. The first drill hole will commence on the northern portion of
the test area and will offset toward the south of previous drill holes that cut
up to several hundred feet of significant copper mineralization in this area,
as previously reported in several press releases. The initial drill holes will
step southward toward an area that has had historical copper and other base
metals to include gold-silver production.
The
Pinon, gold-silver project, the state and federal regulators are requiring
additional rock quality and water table level data in order to advance the
mining permit application. The Company plans to move the current drill under
contract or add another drill to complete 4-8 shallow 500-600 'drill holes.
RSM's
Board of Directors has received a letter of resignation from Mr. Jeffrey D.
Wolin one of RSM's current board members, effective immediately. We regret this
news, as Jeff has been of enormous help to the Company and we hope will
continue this relationship as an investor and supporter. Mr. Robert N. Granger,
will move from the current technical advisory board to the Board of Directors
to replace Mr. Wolin.
The
Canadian Venture 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
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