TORONTO, June 15 /CNW/ - Roxmark Mines Limited (TSXV - RMK) (CNQ - RMKL) today announced early and encouraging results from its drilling program in an area 700-912 metres east of the main shaft of the Northern Empire Mine near Beardmore, Ontario.
The 25-hole program is designed to define the extent of the Contact and Power Zones in a previously undeveloped area and to confirm the historical resources grading of 15g/t of gold (or 0.47 oz. Au/t for a total of 30,780 ounces of gold) as determined in 1999 by Peter Bevan, a consulting geologist. Drilling continues on the remaining holes and results to date confirm the previous resource assessment.
"These are early days in the drilling program, however, we are pleased that results appear, at a minimum, to confirm the historical information, which was our goal," said Monir Younan, Roxmark President. "In addition, we have discovered an additional zone...and our anticipation is that grading will continue to improve as the drill rig moves further west."
Results shown below are incomplete, as infill sampling is required in
some places.
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Hole From To Width Gold Infill Zone
Section Number (m) (m) (m) g/tonne required intersected
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912.5 07-24 65.20 65.48 0.28 4.63 Yes Power
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75.94 76.22 0.28 1.79 No Contact
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900 07-23 33.60 34.05 0.45 2.40 Yes New Zone
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107.64 108.49 0.85 6.27 No Power
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122.50 122.59 0.09 0.08 No Contact
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07-22 63.70 64.30 0.60 3.22 Yes Power
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74.70 75.65 0.95 1.17 No Contact
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887.5 07-21 62.80 63.30 0.50 2.81 Yes Power
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72.00 72.75 0.75 3.12 No Contact
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or 72.00 73.55 1.55 2.15 No Contact
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07-20 79.75 81.24 1.49 9.54 Yes Power
included 80.09 81.24 1.15 12.00
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90.75 91.54 0.79 7.52 No Contact
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862.5 07-19 57.87 59.44 1.57 1.60 Yes Power
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70.45 71.84 1.39 8.48 No Contact
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07-18 76.08 76.58 0.50 13.47 Yes Power
included 76.39 76.58 0.19 35.40
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86.95 87.08 0.13 11.80 Yes Contact
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Results presented in this news release have been reviewed by the Qualified Person, Peter Bevan, P.Eng. The drilling program employs a Quality Assurance/Quality Control program consistent with NI 43-101 and best industry practice. The NQ-sized core is logged, sampled and split. The samples are recorded, bagged and sent out to SGS Lakefield Research Limited. Samples are analyzed for gold by FAA methods. To date, some minor check sampling has been carried out and more is being planned, together with some blanks and two standards of gold ores.
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 the last two 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 six formerly highly productive gold mines located on its properties. These mines previously produced nearly two 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.
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responsibility for the adequacy or accuracy of the content of this news
release.