VANCOUVER, March 4 /PRNewswire-FirstCall/ -- Roca Mines Inc. (ROK: TSX-V) ("Roca" or "the Company") has now received production reports and mill assays for the three months ended February 28, 2010.
The MAX Mine and concentrator continue to operate at Phase I throughput rates with good efficiency and excellent recovery. However, ore produced from the single production/stoping area during the period has returned average head grades that are below Phase I targets. The following table provides a summary of production data for the last three months:
------------------------------------------------------------------------- MAX Mine Statistics Q2-2010 ------------------------------------------------------------------------- DEC '09 JAN '10 FEB '10 TOTAL --------------------------------------- Molybdenum Produced (lbs)(1) 82,962 106,897 115,626 305,485 Average Head Grade (% Mo) 0.30 0.38 0.38 Molybdenum Recovery (%) 94 96 96 Mill Availability (%) 97 100 100 Average Daily Throughput (tpd) 420 432 511 ------------------------------------------------------------------------- Note 1: molybdenum contained in concentrate.
In October 2009, the mine experienced dilution due to a failure caused by the intersection of previously unknown structures in the stope, impacting production well into January 2010. The mine currently produces ore from the 805 stope and estimates for that area suggested higher grades within the stope volume than have been encountered to date. Development crews are now advancing on the 780 metre level where head grades for the operation are expected to improve.
The grade management challenges encountered over the last two quarters highlight the mine's current dependency on a single producing stope. An amendment application for the MAX Molybdenum Mine operating permit was submitted to regulators in early December 2009 and approval is anticipated shortly. The development of multiple stopes in the Phase II, 1,000 tpd plan will reduce the impact of the production difficulties encountered during late 2009 and early 2010.
Scott Broughton, P.Eng. is the 43-101 qualified person responsible for the preparation of this news release.
ROCA MINES INC. "Scott Broughton" ------------------------------------------ Scott E. Broughton - President and CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Roca Mines Inc.
CONTACT: Investor Relations, Tel: (604) 684-2900, Fax: (604) 684-2902,
Email: info@rocamines.com, Web: http://www.rocamines.com/
