TORONTO, July 23 /CNW Telbec/ - Roxmark Mines Limited (TSXV-RMK) today announced that ongoing drilling by Premier Gold Mines Limited (TSX-PG) as operator continues to define both open pit and underground style gold mineralization within multiple subzones at the Company's Hardrock Joint Venture Project at the Geraldton Camp in Northwestern Ontario. The current program, consisting of delineation and exploration drilling, will continue throughout 2009 and is expected to result in an NI 43-101 compliant resource estimate by year end.
Drilling at the EP Zone is currently defining the limits of mineralization within a high potential open pit zone. An update of results is expected in the near future. Drilling in the South Porphyry ("SP") Zone continues to demonstrate the potential of this area to host significant high-grade, underground style, gold mineralization within multiple lenses.
Highlights from recent drilling include: - SP Zone: 6.60 g/t Au across 32.6 metres including 23.36g/t Au across 5.4 metres within the SP Zone underground target.
Roxmark has a 30% carried interest in the Hardrock Project which is host to several past-producing mines that collectively produced nearly 3.0 million ounces of gold within 600 metres of surface from 1938-1968. Early drilling in 2009 focussed on open pit-style mineralization and is now targeting the huge potential to expand higher grade mineralization amenable to efficient underground mining methods.
SP Zone -------
Several highly prospective target areas, with the potential to host new underground mineral resources, have been identified. Initial drilling to test the potential of the SP Zone has returned multiple intersections of high-grade gold mineralization. The SP Zone was partially mined in the upper levels of the mine with 264,354 tonnes (291,428 tons) of ore mined at an average grade of 8.37g/t Au (0.244 oz/t). Intermittent historic drilling that tested the unmined down-plunge extension of the SP Zone suggests the potential to outline mineralization over a plunge length of nearly 3.0 kilometres (8,500 feet).
Highlights from new drilling include 6.60g/t Au across 32.6m in hole MM014 which is located approximately 150 metres down-plunge from a previous intersection of 6.63 g/t Au across 28.1 m in hole MM05. SP Zone results correlate very well with previous surface and underground drilling results, all of which will be included in the Company's upcoming NI-43101 compliant resource. Holes MM04 to MM06 were previously released and are included to demonstrate the potential of this zone.
Table 1 New Sub-Zone Intercepts within the SP Zone Target Area
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UTM Dip/ In- In- Gra-
Coor- Azimuth ter- Grade ter- de
Hole- dinates (de- From To val (g/ val (oz/
ID (m) grees) (m) (m) (m) tonne) (ft) ton) Zone
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208.1 210.0 1.9 5.88 6.2 0.17 SP
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MM004(x) 5502718 N 219.0 223.4 4.4 6.36 14.4 0.19 SP
504306 E -55/360 --------------------------------------------
240.5 242.1 1.6 8.35 5.2 0.24 SP
--------------------------------------------
334.0 336.0 2.0 8.42 6.6 0.25 F
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MM005(x) 230.8 258.9 28.1 6.63 92.2 0.19 SP
inclu- --------------------------------------------
ding 5502703 N 252.9 258.9 6.0 17.14 19.7 0.50 SP
504257 E -55/360 --------------------------------------------
272.3 273.5 1.2 10.92 3.9 0.32 SP
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297.5 300.5 3.0 4.57 9.8 0.13 SP
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244.0 251.0 7.0 6.74 23.0 0.20 SP
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MM006(x) 5502694 N 314.5 316.0 1.5 4.80 4.9 0.14 F
504199 E -55/360 --------------------------------------------
371.0 373.2 2.2 36.22 7.2 1.06 HGV
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296.8 301.7 4.9 3.24 16.1 0.09 SP
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MM007 5502649 N 347.3 353.8 6.5 3.35 21.3 0.1 F
504147 E -50/360 --------------------------------------------
367.9 369.2 1.3 8.40 4.3 0.25 HGV
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MM008 5502720 N 301.5 302.5 1.0 8.25 3.3 0.24 F
504199 E -55/360 --------------------------------------------
357.0 359.0 2.0 4.05 6.6 0.12 HGV
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MM009 5502649 N 387.0 395.8 8.8 4.12 28.9 0.12 SP
inclu- 504200 E -55/360 --------------------------------------------
ding 393.0 395.8 2.8 7.36 9.2 0.21 SP
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MM012 5502675 N
504099 E -55/360 hole abandoned
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MM014 285.7 318.3 32.6 6.60 106.9 0.19 SP
inclu- --------------------------------------------
ding 285.7 291.1 5.4 23.36 17.7 0.68 SP
inclu- 5502674 N --------------------------------------------
ding 504102 E -55/360 286.7 287.8 1.1 93.40 3.6 2.73 SP
inclu- --------------------------------------------
ding 301.2 308.0 6.8 5.61 22.3 0.16 SP
inclu- --------------------------------------------
ding 315.5 318.3 2.8 10.40 9.2 0.30 SP
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MM015 5502660 N 342.5 344.0 1.5 5.17 4.9 0.15 SP
504000 E -50/360 --------------------------------------------
353.0 356.0 3.0 6.51 9.8 0.19 SP
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MM017 5502680 N
503900 E -55/360 assays pending
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(x) Previously Released
True widths estimated at approximately 70% of intersection widths
NN-Zone
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Ongoing exploration drilling is also testing additional prospective targets that could host underground style mineralization similar to the West Zone at Hardrock from which 532,254 tons of ore was mined at an average grade of 7.85g/t Au (0.23 oz/t) The New North ('NN') Zone, a narrow vein target area, has returned numerous significant intercepts within the first several holes drilled to test this zone. These initial results are presented in the following table.
Table 2 New Sub-Zone Intercepts within the NN Zone Target Area
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UTM Dip/ In- In- Gra-
Coor- Azimuth ter- Grade ter- de
Hole- dinates (de- From To val (g/ val (oz/
ID (m) grees) (m) (m) (m) tonne) (ft) ton) Zone
-------------------------------------------------------------------------
MM010 5502940 N 105.0 109.5 4.5 4.66 14.8 0.14 NN
504124 E -45/360 --------------------------------------------
129.5 131.0 1.5 8.56 4.9 0.25 NN
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MM011 5502919 N
504050 E -45/360 NSV
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MM013 5502904 N
503950 E -50/360 171.4 174.5 3.1 7.08 10.2 0.21 NN
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MM016 5502900 N
503980 E -50/360 172.8 175.0 2.2 5.59 7.2 0.16 NN
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MM018 5502899 N
503920 E -52/360 177.5 182.0 4.5 7.56 14.8 0.22 NN
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True widths estimated at approximately 70% of intersection widths
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 Open pit-style mineralization with grades exceeding 1.5 g/t Au (Timmins, Hemlo), broad zones of mineralization with grades averaging 5.0+ g/t Au (Musselwhite), and narrow vein zones with higher gold grades often exceeding 7.0g/t (Red Lake, Pickle Lake). The Hardrock Project benefits from development advantages with the Trans-Canada Highway, Trans-Canada Pipeline and major power lines running through the centre of the property.
Stephen McGibbon, P. Geo., is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101. Assay results 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.
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 pursuing a number of initiatives in the Beardmore Camp, including re-opening the Northern Empire Mine and its onsite mill and expanding the resource base at the Leitch-Sand River Mine. In recent years, Roxmark has generated cash flow from bulk-sampled gold and molybdenum processed at its 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 boundary issues and dramatically lower gold prices at the time.
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.