Rocmec signs a letter of intent for $31,5M USD
09 Aprile 2013 - 4:17PM
Access Wire
Vaudreuil-Dorion (Quebec), April 9, 2013 - Rocmec Mining Inc.
(the "Corporation" or "Rocmec") announces that subsequent to the
press release published on January 11, 2013, a U.S. private equity
firm has confirmed its interest in investing up to $31.5 million
USD in the form of a conventional loan to start gold production on
the Rocmec 1 property. A letter of intent has been signed and
closing is expected to take place upon completion of a successful
due diligence. Management is pleased with their interest to move
forward, clearly demonstrating their appreciation of the value and
quality of the property.
The Rocmec 1 gold property is located in the Dasserat Township,
Province of Quebec on the shores of Lake Labyrinth and covers
approximately 2,171 hectares. It is approximately 35.4 kilometres
west of the town of Rouyn-Noranda and is easily accessible. The
property is at an advanced stage of development and 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 1,700 metres (drifts and cross-cut drift) were
driven. Rocmec has conducted several diamond drill campaigns on the
Rocmec 1 property over the past few 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 25th, 2010 and is
available on the Rocmec Mining website (www.rocmec.com). The report
estimated close to 480,000 ounces of gold resources including
119,500 ounces in the Measured and Indicated category and 359,600
ounces in the Inferred category using the industry standard of a
cut-off grade of 3 g/t.
Rocmec is active in the exploration and the development of gold
resources in Quebec and Peru. The Corporation owns a gold property
with resources recognised in accordance with NI43-101, a modular
treatment plant and an exclusive license for a thermal
fragmentation mining method for exploiting narrow-vein ore
deposits.
The company's growth strategy is:
-To develop its wholly-owned gold deposits and produce
revenue;
-To increase the value of its mining assets by prioritizing
exploration targets; and
-To commercialize its thermal fragmentation technology.
For additional information:
John Stella, Investor relations(514)
718-7976jstella@rocmec.com
Andre Savard, President & CEO (450) 510-4442
asavard@rocmec.com
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 news release may contain certain forward-looking
information. All statements included herein, other than statements
of historical fact, are forward-looking information and such
information involves various risks and uncertainties. There can be
no assurance that such information will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in such information. A description of assumptions used
to develop such forward-looking information and a description of
risk factors that may cause actual results to differ materially
from forward-looking information can be found in Rocmec's
disclosure documents on the SEDAR website at www.sedar.com. Rocmec
does not undertake to update any forward looking information except
in accordance with applicable securities laws.
Corporation Miniere ROCMEC Mining Inc. 162 Saint-Charles Avenue,
Vaudreuil-Dorion (Quebec) J7V 2L1
Tel: (450) 510-4442 Fax: (450) 510-9901www.rocmec.com
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