Rochester Provides Corporate Update
24 Juillet 2008 - 3:00PM
Marketwired
VANCOUVER, BRITISH COLUMBIA (OTCBB: RCTFF)(FRANKFURT: R5I) is
pleased to announce that ongoing trenching of the surface trace of
the Florida 4 vein spaced at irregular intervals over a strike
length of approximately 2km has returned promising values (see
table 1) with grades and widths at Florida 4 comparable to those
previously mined at Florida 3. Ongoing underground development work
continues at Florida 4 designed to confirm both width and grade at
depth to allow the company to prepare a long term mine plan to
supply sufficient feed for the increase in production to 300
tpd.
Progress completed to date at Florida 4 includes access to 7 new
drift developments. One drift has intersected the vein system in
the past week and the remaining drifts are nearing the vein system
and are anticipated to intersect shortly. Developing access to
these 7 different levels at the Florida 4 vein system will allow
the Company to achieve a clearer understanding of its
characteristics (i.e. grade, width) within the favourable horizon
which will help define a long-term mine plan. The new development
plan at Florida 4 is to drift 600 metres per month within the
favourable horizon of the vein system; this will account for 60-70%
of total production at 300 tpd.
Table 1: Width Au (g/t) Ag (g/t)
----- ------- -------
Trench #1 1.40m 2.49 62
#5 5.80m 4.82 131
#6 0.80m 2.15 68
#7 0.70m 5.97 44
#10 2.60m 6.53 80
#11 1.40m 3.26 68
#12 0.70m 1.13 50
#13 1.80m 3.63 64
#14 1.40m 0.82 475
#15 1.10m 1.93 59
Furthermore, the company is planning its next development phase
at Florida 4; that being 1000 metres of exploration drifting via a
4x4 tunnel. This will triple the rate of development work
previously achieved during development work at Florida 3. The
tunnel will give access to the center of the vein system which will
allow rapid exploration of the full potential of the favourable
horizon by drifting, ramping and underground drilling. This work
will eventually lead to the compilation of a NI-43-101 resource
estimate.
Both concurrent development programs share the same overall goal
to prove out enough resources for the long-term to continue
providing feed for the mill at its increased production levels
scheduled later this year.
Progress at the mill expansion continues; the new silver
recovery circuit (Falcon Concentrator) is scheduled to be
operational in early August. Recently, the Company was made aware
that there are new requirements that must accompany the mill
upgrade; that being a mandatory upgrade to its tailing system to
fully meet the new requirements of SEMARNAT. All tailings are
required to be dried before being deposited. This has increased
expenditures by approximately $1.5M and has added further delays. A
filtering system for the new tailings dam will be installed by mid
August and should be fully operational at 300 tpd before the end of
the year. As significant progress continues at Florida 4 the
company will be able to ascertain a comprehensive mine plan during
this timeframe and stock additional ore while the tailing dam is
completed. Simultaneously, the company will finalize the
commissioning process of the upgrade to the mill itself.
Recent Production Update:
Production at the Florida Mine is being sourced from remnant
stopes at Florida South and lower grade materials from Florida 3 NW
that were mined above the favourable mineral horizon. This has
contributed to a lower head grade being processed equating to a
decrease in sales. Further development work as well as diamond
drilling at Florida NW was also curtailed due to the presence of
numerous faults which displaced the vein systems. The company
continues production at 200 tpd. Based on work to date the Florida
4 vein system appears to be more continuous and much less faulted
than the vein systems discovered directly NW of the Florida
Mine.
Dr. Parra is currently the Company's in-house Qualified Person
and QP Member of the Mining and Metallurgical Society of America
with special expertise in Mining.
ON BEHALF OF THE BOARD
Dr. Alfredo Parra, President and CEO
About Rochester Resources Ltd.:
Rochester represents a pure-play in the exploration and
development of high-grade gold and silver properties located in
Nayarit, Mexico. The Company is a niche player in Mexico which has
assembled an attractive portfolio of properties in the Sierra Madre
Occidental Range. This is the largest epithermal precious metal
region in the world, hosting the majority of Mexico's large tonnage
gold and silver deposits. Current production generates growing cash
flow and helps fund our ongoing exploration and development with
minimum share dilution.
Rochester is well positioned to advance its Projects and can
very quickly become a significant player in Mexico. Rochester has a
strong senior management team based in Mexico, a workforce in place
to advance its projects through to mine development.
Forward Looking Statements
This Company Press Release contains certain "forward-looking"
statements and information relating to the Company that are based
on the beliefs of the Company's management as well as assumptions
made by and information currently available to the Company's
management. Such statements reflect the current risks,
uncertainties and assumptions related to certain factors including,
without limitations, competitive factors, general economic
conditions, customer relations, relationships with vendors and
strategic partners, the interest rate environment, governmental
regulation and supervision, seasonality, technological change,
changes in industry practices, and one-time events. In addition,
the Company has not conducted an independent feasibility study on
the Mina Real project which may increase the risk that the planned
operations are not economically viable. Should any one or more of
these risks or uncertainties materialize, or should any underlying
assumptions prove incorrect, actual results may vary materially
from those described herein.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or the accuracy of this
release.
Contacts: Empire Communications Inc. Investor Information
Contact (604) 484-0066 Email: info@rochesterresources.com Website:
www.rochesterresources.com
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