Roca Mines Inc. (ROK: TSX-V) ("Roca" or the "Company") provides the following update on construction and development activities for its PHASE I, 500 tonne per day mine at the MAX Molybdenum Project, located 60 kilometres (36 miles) southeast of Revelstoke, British Columbia.
Progress in the following principal project areas includes;
Underground Development -- Genex Mining Ltd. has completed rehabilitation of rail and services in the 960m adit and the development of refuge stations, required for underground operations, is progressing well and on schedule. Thirty-six inch gauge rail has been recovered from unused cross-cuts and reassembled on a surface extension to the planned crusher site. A drill jumbo and scooptram are also being mobilized in preparation for decline development to the planned stoping areas.
Mill Dismantling -- Contractors have now removed all of the motors and small equipment in the mill and are ready to begin transport to MAX. Much of the mill building's structural steel, including roof trusses and column supports are currently being dismantled and also being readied for transport. The separate crusher building, transfer tower and equipment are also being dismantled. This work is expected to be completed shortly, prior to transport to the MAX site.
MAX Millsite Foundation Preparation -- Final site selection for both the mill and crusher buildings has been completed. These sites have been optimized to provide bedrock foundations thereby limiting total reinforced concrete requirements for equipment and structures. Formwork for mill bases, bin supports and crusher bases will commence in August, followed by formwork for structural building components.
Structural Engineering -- Sacré Davey Engineering Inc. has completed an initial structural review of the mill and crusher buildings and will provide design updates and modifications required to meet code and snow loads at the MAX site. These modifications will be completed after the building is re-erected at the MAX site.
Electrical Engineering -- JFM Pacific Engineering Inc. has been engaged to provide design of an electrical power and distribution system for the project, including the specification and procurement of diesel generator sets for mine and mill.
Tailings Facility Preparation -- Test trenching at the proposed tailings facility has confirmed bedrock foundations at the proposed dam sites. This work has also provided access for detailed surveying and final dam design/alignment by BGC Engineering Inc. BGC has also completed a borrow material investigation and concludes that materials exist within and nearby the basin for earthworks construction.
Camp Development -- the Company's contractors have also completed the construction of a temporary 30-person construction camp at the site.
Roca aims to be the first new primary molybdenum producer in Canada, with production commencing in fall 2006. The fully permitted and fast tracked PHASE I mine plan for MAX will focus on the deposit's high-grade zone containing 280,000 measured and indicated tonnes grading 1.95% MoS2 (approximately 7.2 million lbs of contained molybdenum). Mine expansion will be determined by prevailing prices for molybdenum in 2007 and beyond.
Molybdenum currently trades in the US$24 - 25/lb range and is a key alloy in the manufacture of stainless and specialty steels, including pipelines and other energy-related steel infrastructure.
ROCA MINES INC.
Scott E. Broughton, P.Eng. -- President & CEO
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