DURANGO, Colo., July 17, 2012 /PRNewswire/ -- Varca
Ventures, Inc. (OTCBB: VRCV) (www.varcaventures.com) announced the
update of the status to its shareholders and investment community
of its wholly owned, May Day-Idaho
Mine Complex (the mine) in La Plata
County, Colorado. Following the Colorado Division of
Reclamation Mining and Safety's (DRMS) conditional approval of the
Company's 112d mining permit in November
2011, the Company has been completing corrective actions to
prepare the mine for production. The following lists the
Company's most notable achievements during the first half of
2012.
May Day No. 1 Portal
Stabilization
January through March the Company designed, submitted, and
received approval for a Technical Revision (TR-01) to its 112d
permit to repair the collapsed May
Day No. 1 portal and stabilize the highwall above the
portal. Stabilization of the 60 foot by 150 foot highwall has
been ongoing since May and has included excavation of the collapsed
material, benching and re-grading of the highwall above the portal,
and bolting and matting approximately 4,000 square feet of exposed
bedrock directly above the portal. To date, the Company has
drilled and set a total of 2,792 feet of steel stabilizer bar and
split set bolts into the highwall. By the week of
July 9th, the Company had
successfully stabilized the highwall down to the portal
level. Beginning the week of July
15th, the Company will be installing 44 feet of
pre-fabricated structural steel sets at the base of the highwall
that will be anchored to the exposed portal. Safe passage
into the portal at the base of the highwall will require placing
backfill of native materials against the highwall and on top of the
steel sets in compacted lifts. The current schedule of
operations indicates that this phase of the stabilization will be
completed by no later than July 30th. The Company would like
to commend its site manager, Gary
Gibbons, and his construction crew for their diligence in
completing the very technically challenging task of stabilizing the
caved highwall while maintaining a safe working environment at all
times.
Geophysical Drilling
January through May the company completed required geophysical
drilling along haul roads, mine benches, highwalls, and bridge
abutments throughout the 35 acre permit boundary. The
drilling results were used as design criteria to reinforce active
areas within the permit boundary to ensure a safe and stable
working environment for Company personnel.
Monitoring Well Drilling and Groundwater Monitoring
During May, monitoring wells were installed at four
pre-determined locations in order to meet requirements under the
112d mine permit. The initial purpose of the wells is to
determine baseline groundwater elevations, quantities, and
quality. The wells will also serve as long term monitoring
sites during active mining to ensure that the Company's activities
are conducted in a manner that protects groundwater resources at
and down gradient from the mine. The first set of baseline
samples were collected from the wells in June. Following
additional sampling of baseline conditions, the Company will
provide a comprehensive groundwater baseline report to DRMS by
November 2012.
Surface Water Monitoring
Surface water monitoring of five previously established sampling
locations was completed in June. These samples were collected
as part of the ongoing hydrologic balance studies that will
continue on a quarterly or bi-annual basis (depending on location)
as a condition of the approved 112d permit. Similar to the
groundwater monitoring, local surface water resources are being
monitored by the Company to ensure that its activities are being
conducted in a manner that protects local surface water
resources.
New Access Road Approval
Following a series of geotechnical, storm drainage, and
structural engineering studies, the Company submitted a Technical
Revision (TR-02) to its 112d permit in April. TR-02 details
the construction of a new access road between La Plata County Road
124 and the Company's existing bridge crossing the La Plata River
(approximately 1,700 feet). This new access road occurs entirely
within private lands under the Company's control and is intended to
be the future primary means of access to the mine. The new
access road will also allow the Company to cease relying on
obtaining temporary special use permits to traverse U.S. Forest
Service lands. The design of the new access road was approved
by DRMS in May, and approval from La
Plata County is pending. The Company anticipates
construction of the new access road during the 2012 working
season.
Haul Road Improvements
From January through the present the Company has completed and
maintained stormwater controls, grading, road base upgrades, and
dust abatement to over 2.25 miles of mine roads within the permit
boundary. These actions have improved safety (per Mine Safety
and Health Administration requirements), and drastically reduced
travel time on site while ensuring that the local water and air
resources are protected.
La Plata River Bridge Renovation
In January through May, the Company completed geotechnical and
structural analyses of its bridge crossing the La Plata
River. Based on the analyses the Company submitted a
Technical Revision (TR-03) to its 112d permit to enhance the
existing features of the bridge to accommodate anticipated
loads. DRMS approved TR-03 in June, 2012 and the Company is
planning on completing enhancements to the bridge during the 2012
working season.
Chief Portal Alternatives Analysis
As part of the corrective actions required under the 112d
permit, the Company prepared an analysis of three different
alternatives to address the collapsed Chief portal and restore the
blocked flow pathway of the adjacent drainage. The Chief
portal serves as the emergency escapeway from the May Day No. 1 level of the mine. The
alternatives analysis was submitted to the U.S. Army Corp of
Engineers and Environmental Protection Agency in June. The Company
anticipates a final decision from both federal agencies in July,
after which the Company will prepare a Technical Revision to its
112d permit to obtain approval from DRMS.
Contact: Randy Oser, President:
(941) 951-0787.
Varca Ventures, Inc. is an exploration stage company that seeks
to engage in the acquisition, exploration and development of
natural resource properties primarily in North America and is headquartered at 1630
Ringling Blvd., Sarasota, FL,
34236.
Forward-Looking Statements in this news release that are not
historical facts are forward-looking statements that are subject to
risks and uncertainties. Words such as "expects," "intends,"
"plans," "may," "could," "should," "anticipates," "likely,"
"believes" and words of similar import also identify
forward-looking statements. Forward-looking statements are based on
current facts and analysis and on forecasts of future results,
estimates of amounts not yet determined and assumptions of
management. There are forward-looking statements within this news
release, and actual results may differ materially from those
currently anticipated due to a number of factors beyond the
Company's control. These risks and uncertainties include, among
other things, competition, permitting, and the risk that the
Company may not find any minerals in commercially feasible
quantity. These and other risks are described in Varca Ventures,
Inc. 8K report filed on November 2,
2011 and other filings with the Securities and Exchange
Commission.
Disclaimer: This announcement has been written by American
Business Writers Corp., who has been engaged on behalf of Varca
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monetary compensation. All content in this release is for
informational purposes only and should not be construed as an offer
or solicitation of an offer to buy or sell securities. Neither the
information presented nor any statement or expression of opinion,
or any other matter herein, directly or indirectly constitutes a
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terms of engagement by Varca Ventures Inc. with American Business
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SOURCE Varca Ventures, Inc.