Roche Bay plc Brings its First Season to a Close
Gibraltar, 5 January 2007:
Canadian iron ore junior, Roche Bay plc (US OTC: RCHBF, "Roche Bay" or "the
company"), completed its first season of operations at Roche Bay, Nunavut. The
Company was the last of the exploration operations in the area to shut down for
the winter on November 15, 2006.
The season saw the collection of environmental data needed for the preparation
of a baseline study to be released early in 2007 as well as the assembly and
training of a 100% Inuit drill team.
Camp mobilization occurred in early July 2006, in order to accommodate a team of
environmental scientists from EBA Consulting Ltd. who conducted several surveys
over the course of the summer for the environmental baseline study. The study is
due to be released in early 2007.
Eleven people from communities surrounding Roche Bay were assembled and fully
trained in July and August to become a 100% Inuit drill team for small-core
drilling. The core extracted is currently undergoing metallurgical test work and
the reports are expected by the end of January. Over the winter months, plans
are underway to send a part of the current drill team to Southern Canada for
further drill training.
Chief Operating Officer, Danie Botes, says, "This season certainly saw many
challenges, but it was a learning experience that has greatly benefited us. We
were able to go in and work with the community and build relationships that will
help us ensure a successful Arctic experience."
Chief Executive Officer, Benjamin Cox, comments, "We are very proud of our
accomplishments in our first season of operation."
Plans are in progress for a second season with mobilization to occur as early as
April 2007. The operations for next year will focus on drilling, with a goal of
20-30,000 meters of core to be drilled for delineating a resource to current
geological standards.
A competent persons report is currently being prepared by Golder Associates and
will be completed by the end of January.
Melinda K. Moore, formerly of Steel Business Briefings, is no longer the Chief
Financial Officer of Roche Bay plc. The Board of Directors approved Moore's
resignation on January 4, 2007. A replacement for the position will be named
near the end of January.
For more information, please contact:
Millbrook Partnership
Tim Grey
+44 (0) 20 7520 9455
Roche Bay (US OTC: RCHBF) is an emerging iron ore company with a large resource
base in Canada's northeast, in two groups of ore bodies: the Eastern which are
the current focus and the Western ore bodies which will support an
inter-generational life of mine. The project's key advantages include its low
infrastructure development costs and its ability to ship product to Europe in
under nine days. The Company is domiciled in Gibraltar. Its ultimate majority
shareholder is Borealis Exploration Limited (US OTC: BOREF).
Please see the Company Website at www.rochebay.com for more details.
This information is provided by RNS
The company news service from the London Stock Exchange