RSM to go Underground at the Fondaway Canyon Property
7/26/2006
MANHATTAN, NEVADA, Jul 26, 2006 (CCNMatthews via COMTEX News Network) --
ROYAL STANDARD MINERALS INC. (TSX VENTURE:RSM) ("RSM") plans to go carry out an underground metallurgical sampling and drilling program on its 100% owned Fondaway Canyon gold-tungsten property located in Churchill County, Nevada. The Fondaway Canyon gold Property consists of 148 contiguous unpatented lode-mining claims on BLM land on the western slopes of the Stillwater Range, Churchill County, Nevada. The USBLM has approved a Plan of Operations for this project that is bonded. According to Qualified Person, Roland M. Larsen, the program will commence with the reopening of the Tenneco adit. This effort will include reentering the existing underground workings and test mining and drilling a portion of the quartz-sulfide vein system within a folded Mesozoic shale, sandstone and limestone rock package. The principal veins at Fondaway are situated within an 11,000 foot long easterly trending belt that includes 15 separate gold bearing veins. Drilling indicates that the vein system in the area tested is persistent from the surface to a depth of approximately 1,000 feet and is open at depth.
The currently drilled gold resources are primarily within a segment of the Paperweight and Half Moon veins and include a strike length of approximately 1,000-1,200 feet to a depth of about 500 feet. These resources are currently classified in a NI-43-101 report by Strachan, 2003, as indicated and inferred. Indicated resources of 390,636 tons with an average grade of 0.428 opt Au for a total of 167,192 ounces of gold. Inferred gold resources total 372,849 tons with an average grade of 0.409 opt Au for a total of 152,621 ounces of gold within the most intensively drill tested portion of the property. Horizontal continuation of the gold-mineralization within the shear zones is remarkable. The Paperweight-Hamburger Hill mineralized shear zone is the most persistent known, with a strike length of 3,700 feet and width commonly between 5 and 20 feet. Drilling and assay records indicate that 568 holes have been drilled on the property for a total estimated footage of 200,000 feet of RC drilling and 22,000 feet of core drilling to include 455 reverse circulation, 49 core holes and 64 air track holes. Tenneco the latest and the most active company drilled approximately 350 of the 455 reverse circulation holes and drove 500 feet of adit workings for sulfide metallurgical sampling and analysis on the underground targets. Tenneco also developed and operated an open pit heap leach mine on this property before exiting the mining business in the 1990's. Historically the property has supported minor tungsten production that is separate from the gold system, the tungsten potential needs to be evaluated.
The Fondaway Canyon property has excellent exploration and development potential, RSM is very optimistic that this property may prove to be one of our best projects.
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.
SOURCE: Royal Standard Minerals Inc.
Royal Standard Minerals Roland Larsen (775) 487-2454 (775) 487-2460 (FAX) Royal-Standard.com
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