- Published: 22 April 2009
- Written by Editor
Roxmark reports 7.6 g/t Au across 20.5 metres within EP Zone open pit target, as Hardrock drilling continues to intersect high grade gold
Roxmark Mines Limited (TSXV-RMK) today reported additional high grade results from the ongoing delineation drilling program being carried out on the Hardrock Project joint venture in Geraldton, Northwestern Ontario by Premier Gold Mines Limited as operator.
Drilling into the South Limb of the highly prospective EP-Zone continues to outline high grade open pit-style mineralization with new intersections that include 7.60 grams per tonne gold (g/t Au) across 20.5 metres (m) in hole EP44, 11.96 g/t Au across 4.8 m in hole EP39 and 3.02 g/t Au across 18.1 m in hole EP42.
Drilling at the EP-Zone target continues to expand near surface (open pit-style) mineralization within several parallel horizons. The new results compliment previously announced intersections within the North Limb that included 4.56 g/t Au across 24.5m in hole EP029, 3.04 g/t Au across 31.3m in hole EP031, 2.63 g/t Au across 43.5m in hole EP032, and 2.37 g/t Au across 62.7m in hole EP026, suggesting strong tonnage potential as drilling progresses into the heart of the EP-Zone.
The following table summarizes recent results from drilling at the EP-Zone. Please note that holes EP037-043 all intersected historically mined stopes prior to completely testing the horizon:
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UTM Dip/Azi- In In Gra-
Coor- muth ter- Grade ter- de
Hole- dinates (de- EP- From To val (g/ val (oz/
ID (m) grees) Zone (m) (m) (m) tonne) (ft) ton)
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EP037 504900 E South
5503072 N -45/360 Limb 88.7 92.5 3.8 1.18 12.5 0.03
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South
Limb C 15.0 17.5 2.5 2.50 8.2 0.07
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EP038 504900 E South
5503053 N -45/360 Limb B 58.6 64.2 5.6 1.06 18.4 0.03
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South
Limb 99.0 106.0 7.0 0.95 23.0 0.03
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South
EP039 504900 E Limb C 12.4 17.2 4.8 11.96 15.7 0.35
5503053 N -60/360 ----------------------------------------------
South
Limb B 53.5 60.5 7.0 1.46 23.0 0.04
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EP040 504851 E South
5503074 N -45/360 Limb 57.0 58.8 1.8 4.80 5.9 0.14
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South
Limb 67.0 87.7 20.7 1.34 67.9 0.04
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EP041 504851 E South
5503052 N -45/360 Limb 94.5 102.0 7.5 1.53 24.6 0.04
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North
Limb 112.5 117.5 5.0 1.33 16.4 0.04
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South
Limb B 59.7 74.0 14.3 2.56 46.9 0.07
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EP042 504851 E South
5503052 N -60/360 Limb 95.7 113.8 18.1 3.02 59.4 0.09
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South
Limb 128.4 144.5 16.1 1.39 52.8 0.04
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South
Limb C 38.8 54.1 15.3 1.38 50.2 0.04
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South
EP043 504852 E Limb B 91.5 110.7 19.2 1.03 63.0 0.03
5503027 N -60/360 ----------------------------------------------
South
Limb B 134.0 140.0 6.0 1.44 19.7 0.04
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South
Limb 162.6 177.7 15.1 1.72 49.5 0.05
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South
Limb 57.0 77.5 20.5 7.60 67.2 0.22
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EP044 504811 E South
5503081 N -45/360 Limb 95.5 100.5 5.0 7.52 16.4 0.22
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North
Limb 111.0 147.8 36.8 1.05 120.7 0.03
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South
EP045 504811 E Limb 89.9 95.0 5.1 10.66 16.7 0.31
5503054 N -45/360 ----------------------------------------------
South
Limb 123.5 135.3 11.8 5.42 38.7 0.16
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* True widths estimated at approximately 70% of intersection width
The EP-Zone is comprised of near-surface mineralization proximal to the
historic North Zone mine workings from which nearly one million ounces of gold
was produced to a depth of 2,000 feet. Drilling has identified multiple
sub-zones within the iron formation-hosted South (SL) and North (NL) Limbs of
the EP target. Significant mineralization has been intersected over a strike
length of more than 500 m, to depths of up to 150 m, and remains open in all
directions.
Drilling at the EP and Tenacity Zones continues to return spectacular
results, with both horizons having open pit and underground resource
potential. The operator believes that historic and new results will be
utilized in an NI 43-101 compliant resource calculation. The current program
at Hardrock Project is expected to consist of more than 50,000 metres of
definition and exploration drilling.
Importantly, the Hardrock Project has the potential for defining several
styles of mineralization capable of hosting resources, with grades and widths
similar to many of Ontario's major gold mines including:
1) Open pit-style mineralization with grades exceeding 1.5 g/t Au
(Timmins, Hemlo)
2) Broad zones of mineralization with grades averaging 5.0+ g/t Au
(Musselwhite)
3) Narrow vein zones with higher gold grades often exceeding 7.0g/t (Red
Lake, Pickle Lake).
>>
The Project is operated by Premier Gold Mines Limited (TSX-PG) under a joint venture in which Premier is earning a 70% interest and Roxmark has a 30% carried interest The Hardrock Project is host to several past-producing mines which collectively produced more than 2.0 million ounces of gold from the same deposits to shallow depths of some 2000 feet (600 metres) from 1938-1968. The mined zones remained open at depth at the time mining ceased and developed historical resources were left in place within the existing mine workings. (A qualified person has not done sufficient work to verify the historical resource, the Company is not treating the historical resource as a current resource and the historical resource should not be relied upon).
Initial drilling is focusing on delineating both open pit and underground resources so that a NI43-101 compliant resource calculation can be completed in Q4 2009, with the goal of defining a multi-million ounce gold resource that can be moved quickly towards development (see references to historical resources above.). The Project offers development advantages with the Trans-Canada Highway, Trans-Canada Pipeline, and major power lines running through or located proximal to the property. Significant potential exists for developing resources in several areas including: open pit-style mineralization at the site of the original discovery where a resource containing several hundred thousand ounces of gold was partially drilled off by previous operators; several newer high-grade discoveries that have been made throughout this large property package that have received little to no follow-up; resource blocks reported to remain within the mine workings; and the main mined zones which remain open below the 600 m level.
Stephen McGibbon, P. Geo., is the Qualified Person for the information contained in this news release and is a Qualified Person within the meaning of National Instrument 43-101. The assay results presented are from core samples sent to Activation Laboratories, an accredited mineral analysis laboratory in Thunder Bay, Ontario, for preparation and analysis utilizing both fire assay and screen metallic methods.
The Hardrock Project is located in the heart of the Beardmore-Geraldton Greenstone Belt, a highly prospective high-grade gold district that has seen relatively little exploration over the past several decades.
About Roxmark Mines
Roxmark Mines Limited is the leader in gold and molybdenum exploration and development in the historically significant Geraldton-Beardmore area of Northwest Ontario. In addition to the Hardrock Project in the Geraldton Camp, Roxmark is aggressively pursuing a number of initiatives in the Beardmore Camp, including re-opening the Northern Empire Mine utilizing the upgraded onsite mill. In recent years, Roxmark has generated cash flow from bulk-sampled gold and molybdenum processed at this fully-permitted mill and has the advantage of infrastructure from nine formerly highly productive gold mines located on its properties. These mines previously produced nearly four million ounces of gold from high-grade ore but were closed primarily due to dramatically lower gold prices at the time and to boundary issues, since eliminated.
Further information is available on the Company's website at www.roxmark.com and on SEDAR under the Company's profile at www.sedar.com.
Forward-Looking Statements
This news release includes certain "forward-looking statements". Such forward-looking statements involve risks and uncertainties. The results or events predicted in these forward-looking statements may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE: Roxmark Mines Limited
Monir Younan, President, Roxmark Mines Limited, (416) 860-1636, Fax: (416) 360-7355, This email address is being protected from spambots. You need JavaScript enabled to view it.; www.roxmark.com
