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Roxmark to begin gold drilling program at Northern Empire Mine and Nortoba-Tyson, continues to evaluate molybdenum production
Roxmark to begin gold drilling program at Northern Empire Mine and Nortoba-Tyson, continues to evaluate molybdenum production.
About this update from Atlas Salt Inc
[{"type":"text","content":"\n\n\n\nTORONTO, May 8 /CNW/ - Roxmark Mines Limited (TSXV:RMK) announces that\nPhase 1 of a surface diamond drilling program is to begin within a few days on\nits Northern Empire Mine property near Beardmore, Ontario. The program-based\non the results of extensive digitization of historic data and 3-D modelling of\nRoxmark properties carried out in 2006-will primarily involve infill holes in\nthe Power and Contact Zones, both in the eastern extension of the Main Vein\nlocated 2,300 to 3,000 feet east of the shaft.\n\n\nPlanned are 25 holes totalling 2,320 metres (7,612 feet), of which 22 are\nintended to confirm historical resources of 65,969 tons (grading 0.47 oz/t for\na total of 30,780 ounces of gold) estimated above the diabase sill in 1999 by\nPeter Bevan, Consulting Geologist. The estimate is not compliant with NI\n43-101. The other three holes will test the Temiskaming Contact Zone about 400\nfeet to the north.\n\n\nHistorically, the Northern Empire Mine produced 149,000 ounces of gold\nfrom 426,000 tons of ore. The mine was serviced by a 2,640-foot shaft which\nwould be utilized by Roxmark to develop extensions or parallel occurrences. In\naddition, the Company has upgraded the onsite 200 ton-per-day fully-permitted\nNorthern Empire Mill to efficiently process both gold and molybdenum ores.\n\n\nThe second phase of the program, planned for later this year, will\ninclude diamond drilling to explore several promising gold veins on the\nNortoba-Tyson molybdenum property. Historical bulk sample results show that\n135 tons extracted at Nortoba in 1964 produced 139 ounces of gold, an average\nof 1.03 ounces of gold per ton. (Geological Report 122 of the Ministry of\nNorthern Development and Mines, 1975, Mackasey). Several grab samples taken by\nRoxmark in 2006 from the bottom of the previous bulk sample area assayed at\nvalues ranging from 0.17 to 7.64 oz/t.\n\n\nIn 2007, Roxmark will also be working to establish the commercial\nviability of molybdenum production at Nortoba-Tyson before moving underground.\nThis will involve additional work at surface to further delineate the nature,\nsize and accessibility of the molybdenite vein as well as an investigation of\nproduction techniques that could minimize dilution of ore delivered to the\nmill.\n\n\n"We continue to be optimistic about prospects for early production of\ngol...