Vaudreuil-Dorion, Quebec, January 25th, 2013 - Rocmec. (the "Company" or "Rocmec") (TSX-V: RMI) is pleased to announce the results of its most recent geophysical surveys (MAG) conducted by Geodem with the participation of Bryan S. Osborne P.Geo., Qualified Person for the Company.
Highlights of a report to be submitted to the Ministry of Natural Resources in the coming weeks are:
- Cross-sections of the Boucher Zone intersected by diamond drilling allow for a reasonably precise projection of the trace of the zone at surface which has been found to correlate well with the previously mapped Lake Labyrinth Fault;
- Analysis of previous geological reports confirms that the Lake Labyrinth Fault has been recognized over a distance of 4.5 km extending across ground held by Rocmec;
- Outcrops on the shore of Lake Labyrinth occur expose the volcanic rocks of the footwall and a gabbroic intrusion on the hanging wall but the Boucher zone itself does not outcrop; channel sampling of the footwall encountered weakly anomalous gold values up to 85ppb. The contact is well defined by Magnetic survey;
-The Boucher Zone can now be related to a regional structure that has received little exploration in the past that offers good potential for further exploration, both in the immediate area of the mineralised zones already identified, as well along the extensive trace of the Lake Labyrinth Fault.
Following receipt of the report the Company plans to perform further exploration work including PP (induced polarization) and diamond drilling focused on the Boucher Zone and possible extensions along the Lake Labyrinth Fault. Work will begin as soon as funds are secured by the Company.
The Rocmec 1 property is located in the Dasserat Township, Province of Quebec on the shores of Lake Labyrinth and covers approximately 2171 hectares. It is approximately 35.4 kilometres west of the town of Rouyn-Noranda and is easily accessible from Route 117 and the frontier gravel road separating Quebec and Ontario and a secondary gravel road to the site. The property includes a 100 metres deep two compartment shaft and a 844 metres decline allowing access to five levels (50, 70, 90, 110 and 130 metres). On these levels a total of 1700 metres (drifts and cross-cut drift) were driven. Rocmec has conducted several diamond drill campaigns on the Rocmec 1 property over the past years. All of the diamond drill campaigns were designed and carried out following the reasoning of "drill for structure and drift for grade". A NI 43-101 compliant technical report was prepared in connection with the Rocmec 1 property by Systeme Geostat International Inc. The technical report entitled "Technical Report, Resource Update, Rocmec 1 Mineral Deposit, Abitibi West, Quebec, Canada for Rocmec Mining Inc.", is dated May 25, 2010 and was filed by the Corporation on the SEDAR database on June 1, 2010.
The company also announces the closing of a private non-convertible debenture of $365,094 with an arm's length private investor which is secured by a mortgage. The interest rate of the non-convertible debenture is 13.5% per annum. The issuance of this debenture is in addition to an existing debenture of $1,134,906 issued to the same private investor. The proceeds from this offering will enable the company to continue the fundraising efforts currently underway to bring the Rocmec 1 gold property into production as soon as possible. See press release issued by the company on January 11th, 2013.
In addition, following the approval of the TSX Venture Exchange, the Company issued 284,687 common shares of the Company in payment of interest on debentures for a total amount of $31,315.57. The above mentioned shares are subject to a four (4) month hold.
The company also wishes to correct the press release issued on 31 December 2012. Please note that the number of units is not 7 units at $ 10,000 / unit but 5.3846 units $ 13,000 / unit. The total amount of funding remains the same.
Bryan S. Osborne P.Geo., and Qualified Person for the Rocmec 1 project has reviewed the geological portion of this press release for content and accuracy.
Rocmec is active in the exploration and the development of gold resources in Quebec and Peru. The Corporation holds a gold property with resources recognised in accordance with NI43-101, a modular treatment plant and also an exclusive license for the thermal fragmentation mining method for exploiting narrow-vein ore deposits.
The company's growth strategy is based on:
-The development of its gold deposits with the objective of producing revenue from its operations;
-Increasing the value of its mining assets by prioritizing the exploration targets; and
-The commercialisation and employment of its thermal fragmentation technology.
For additional information:
John Stella, Investor relations(514) [email protected]
Andre Savard, President & CEO (450) 510-4442 [email protected]
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.
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 and production 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.
Corporation Miniere ROCMEC Mining Inc. 162 Saint-Charles Avenue, Vaudreuil-Dorion (Quebec) J7V 2L1
Tel: (450) 510-4442 Fax: (450) 510-9901www.rocmec.com