Royal Standard Minerals Inc.: Progress at Goldwedge Project
9/7/2006
MANHATTAN, NEVADA, Sep 07, 2006 (MARKET WIRE via COMTEX News Network) --
ROYAL STANDARD MINERALS INC. ("RSM") (TSX VENTURE: RSM)(OTCBB: RYSMF) has been processing the gold mineralized stockpiled material that consists of material that has been recovered during the decline development program that is ongoing. The processing of the stockpiled material has been proceeding for more than a month. The initial throughput consists of lower grade gold values of between 0.02-0.05 ounce per ton (0.6-1.6 gpt) to test the operation of the jig system and also to evaluate what might be expected from a high gravity concentrator that was also recently installed in the circuit. The initial results of this testing program indicates that the lower grade material can be significantly upgraded with gravity processing returning an initial 115 fold increase in the concentrate grade over the initial head grade. The consensus of our consultants on the jig system and on the high gravity concentrator is that this recovery levels should improve. This product will be further upgraded during a tabling process before smelting, according to Roland Larsen, qualified person.
It has been difficult getting a full 8-10 hour shift of operating the plant up to this point due to many issues with power, water management and equipment adjustments that have been required to allow for the best operating efficiency. These issues decrease each day of operation. The best throughput to date has been 300 tons for a partial day. Based upon these results the Company believes that a throughput of 500-700 tons per day is very manageable for this system and consequently this is our target rate of production.
The underground program continues to make good progress with the decline development involving three headings to include the continuation of the main spiral decline, the "F" and the "B" decline. This work has identified additional gold mineralized zones in the B decline and the F drift. Currently the Company is developing the deposit over a strike length of nearly 800 feet. The expectations regarding our ability to identify the gold mineralized structural zones have been confirmed, the strength and continuity of these structures over this strike length is impressive. The continuity of the structural zones coupled with the number of quality gold intersections during the surface drilling programs indicates that the gold system has strike length continuity, however as with any mineral system of this type the gold mineralization probably will not occur uniformly in grade and thickness. As indicated by the drilling results the "sweet spots" of multi-ounce gold more than out weigh the "weak spots" during a mining program of this type.
The quality of the mineralization generally corresponds with the surface drilling results where drill holes have been intersected during the underground development in most cases. However, this work has identified additional gold mineralized structures as part of the decline development. The decline development has been slowed to a degree by the advent of water, about 20 gallons per minute. The Company has implemented a grouting program to help manage the water. The decline development is very close to an area that surface drilling identified some very high quality gold mineralization over long intersections(reported previously in press releases as the focus of the initial development target for the spiral decline) near the current level of the decline which is below and between the A and the B drifts. The A zone area is near the highest point that the gold system achieved as a structural zone and gold mineralization outcrops in this area. This portion of the deposit was placer mined and experienced some shallow underground mining more than 70 years ago.
Plans include the preparation of a concentrate for smelting and completing the first gold pour aimed at testing this portion of the system, hopefully this month.
The Company has received its drill permits from the BLM, verbal communication, to commence testing the copper target on the Railroad Property, Elko County, Nevada. The initial holes will also test the overlapping gold system near the Pod target. The Company will contract an outside core drill or it will utilize its own core drill to commence this drilling program that is expected to commence later this month.
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
LISTED: STANDARD & POORS
Contacts: Royal Standard Minerals Inc. Roland Larsen (775) 487-2454 (775) 487-2460 (FAX) http://www.Royal-Standard.com
SOURCE: Royal Standard Minerals Inc.
http://www.Royal-Standard.com
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