Revolution Resources Corp. (TSX VENTURE: RV) is lining up to follow the success of Romarco Minerals Inc.’s (TSX: R) five million plus ounce Haile gold project in the southeastern United States. Revolution is located in the Champion Hills Trend, in North Carolina, in the Carolina Slate Belt, stretching from Georgia to Virginia in the foothills of the Appalachians. This is the location of the first gold rush in the United States in the 1830s, providing a source of mining labor and expertise for the California gold rush in the following decade. The area is unexplored by modern exploration methods, and the political jurisdiction is friendly to economic development, including mining.
Revolution has assembled a 7,500 acre land position, and is second to Romarco with 9,700 acres. Noranda completed exploration on its property from 1989 to 1992 until metal prices dropped. Revolution has completed 7,800 meters, and has budgeted for a 20,000 meters drill program in 2011, with sufficient working capital to complete a similar size program in 2012. The company plans to drill the Jones-Keystone, Silver Hill and Silver Valley in the second quarter, and Loflin, Kearns, Earnhardt and Hoover Hill in the third quarter.
Two of its most advanced targets, Loflin and the Jones-Keystone, are only two to three kilometers apart. Highlights of their 2010 drill program at Loflin include LF10-17 with a 70 meter intercept grading 1.10 g/t gold and LF10-18 with a 30 meter interval grading 2.59 g/t gold. Highlights at Jones-Keystone include JK10-06 with a 28 meter interval grading 3.01 g/t gold. The host rock is similar to Haile in alteration and geochemistry. Revolution currently as a market cap of about $42 million, compared to Romarco which had a market cap of over $1.1 billion at the time of its reporting its Feasibility Study in late 2010.