Romarco to advance Haile gold project while doing environmental review

TORONTO – Toronto miner Romarco Minerals Inc. (TSX: R says the U.S. Army Corps of Engineers has asked the company to conduct an environmental impact study on wetlands near the proposed Haile Gold Mine South Carolina.

The move will add about a year for the proposed development for the project, Romarco said in a statement Saturday.

The company said it will offer U.S. government with an environmental impact statement, or EIS, on how the mine would impact wetlands and streams around the project Haile.

The gold mine is in north central South Carolina and is part of a larger gold belt that extends southeast from several U.S. states.

Romarco said the additional 12 months with the timetable proposed in the feasibility study of the company in February reflects the necessary technical reviews and public comment periods in the schedule of EIS.

«We will continue to deliver shareholder value as we take full advantage of the additional time necessary to complete the EIS process by optimizing the mine plan, increasing resources, and reducing strip ratio through additional drilling,» said company president Diane Garrett.

«Completing an EIS removes uncertainty about any future potential challenges to an Environmental Assessment. The EIS will only address the wetlands aspect of the mining operation».

While the environmental impact statement is being completed, said Romarco will increase its focus on exploration drilling, further metallurgical test work and further mine planning.

Romarco said it has invested more than $ 4 million in environmental studies in the development of Haile and hopes that the project will have minimal environmental impact and meet or exceed current regulations.

The wetlands permit is the only federal permit required for the project Romarco Haile. The company still must obtain approval from state regulators.

Romarco operates in the United States and is developing its flagship project, the Haile gold mine. 100 percent ownership of the project Haile d is in Lancaster County, northeast of the town of Kershaw.

The project is estimated to contain 3.1 million ounces of gold resources – 1.7 billion in the category and 1.4 million as indicated.

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