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Thursday, 25th September 2008 (1165 views)

A new exploration programme is set to get underway at the Haile gold mine in South Carolina after its operators Romarco Minerals gained approval for the project.

An extra 65 holes of an average depth of 213 metres are expected to be drilled in order to test the down-dip extensions of mineralised zones.

Work will continue at the site for the next 12 months at least and the firm hopes to produce a detailed technical report by October.

President and chief executive officer Diane Garrett stated that the company has produced a "more effective and much more positive mine plan for Haile" in anticipation of the coming programme.

Meanwhile, industry analysts have speculated that there will be increased merger and takeover activity for precious metals firms over the coming months, according to Reuters.

Larger operations will be looking to acquire smaller companies in a bid to speed up production, the article claimed.

 

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