On Friday, Royal Standard Minerals Inc. announced that they have made substantial progress at their Goldwedge Property, Nye County, Nevada. This progress was with the purchase of a “new” ball mill, current construction of the concrete foundation, and piers. Company management plans to have the ball mill installed on the foundation by the end of this month. After the testing and completion of the new mill components, their management expects the mill to be fully operational by the end of September 2011.
Furthermore, Royal Standard Minerals is building a “Rapid Infiltration Basin” (RIB) that will be part of the mine-dewatering program, and is expected to be near completion by the end of this month. Underground remedial work, in decline ‘A’, is progressing with the re-bolting and clean up, in preparation for continuing the underground development. This work has included plans for the construction of a secondary escape as well as major adjustments to the underground ventilation system on the property. The Company is making plans to commence underground drilling and development programs. The program is progressing on schedule. The expectation is that most of the current work program will be completed by the end of September 2011.
In addition, Royal Standard Minerals announced the resignation of J. Alan Ringler as Chief Financial Officer (CFO), effective as of June 17, 2011. The Company is pleased to announce that the position has been filled by Mr. Ike Makrimichalos. Mr. Makrimichalos is a CA and LPA with a BA from the University of Toronto. He has 27 years experience as a Senior-Audit and Assurance Manager with Deloitte Touche LLP, and recently as Controller for a public company. The Company believes that Mr. Makrimichalos is well suited as Royal Standard Minerals Inc.’s part-time CFO. As the duties increase, the Company may expand his function to a full-time position.
Royal Standard Minerals Inc. is a natural resource exploration and development company. The Company is exploring and developing gold and polymetallic properties in key mineral districts of Nevada. Three of their properties (Goldwedge, Piñon-Railroad and Fondaway Canyon) are advanced with established resources. Goldwedge is their most developed asset and it is moving to feasibility.
For more information visit: www.royalstandardminerals.com
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