Intersects 59.35g/t of Au over 0.92 m and 21.53 g/t Au over 0.81 m
TORONTO, Aug. 13 /CNW/ - Roxmark Mines Limited (TSXV - RMK) (CNQ - RMKL) today announced assay results for an additional four drill holes of its surface diamond drilling program on the Northern Empire Mine property in Beardmore, Ontario.
Hole 09-9B drilled on section 7+87.5E intersected 59.35g/t of gold over 0.92 metre (equivalent to 1.73 ounces per ton of gold). A previously drilled hole, No. 86-4 on section 7+75E, intersected 48g/t over 1.40 metre. Similarly, hole No. 07-02 intersected 21.53g/t of gold over 0.81 metre drilled on section 7+12.5E. This hole is a step-out to the east of hole 86-1 drilled in 1986 on section 7+00E which intersected 32.91g/t over 2.25 metres. Drill intersections are near true widths of the zones.
All holes drilled have intersected the Power and Contact zones, with mineralization persisting over a strike length of 212.5 metres. The targeted area is located 700 metres east of the existing shaft and drilled above the diabase sill. Drilling to outline gold mineralization below the diabase sill will be carried out from underground.
Significant intersections from the recent drilling are presented in the table below. Previous intersections were announced on June 15 and July 13.
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Length Gold
Section Hole No. From To (m) g/tonne Zone
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7+00E 86-1 83.20 85.45 2.25 32.91 Power
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7+12.5E 07-02 77.29 78.10 0.81 21.53 Power
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7+75E 07-07 83.30 84.05 0.75 13.20 Contact
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86-4 91.70 94.10 1.40 48.00 Contact
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7+87.5E 07-9B 85.53 86.45 0.92 59.35 Contact
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8+37.5E 07-14 70.80 71.54 0.74 6.46 Power
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07-14 72.60 74.00 1.40 11.67 Contact
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"We are excited by these results," said Monir Younan, Roxmark President and CEO. "They will help to support an upcoming NI 43-101-compliant report which we believe will expand historical estimates and establish the viability of re-opening the Northern Empire Mine.
"We continue to find mineralization richer than that of zones previously mined at the Northern Empire. In addition, we have previously identified new mineralized zones," he added.
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 FA methods. Check sampling using two laboratories is being carried out prior to the determination of the quantity and the quality of the resources.
The Northern Empire Gold Mine property is located in Beardmore, Ontario. Historically, the Northern Empire Mine produced 149,053 ounces of gold from 425,866 tons with a recovery of 0.35 oz. in gold per ton. The mine was serviced by a shaft to 2,460 feet with development above and below a major flat diabase sill.
In 1999, Peter Bevan estimated resources of 65,969 tons grading 0.47 oz/t for a total of 30,780 ounces of gold. The historical estimate, which is not classified as current mineral resources, was based on information from above the diabase sill. This estimate should not be relied upon and is not compliant with NI 43-101.
Existing infrastructure on the property, including an upgraded and fully permitted 200 tpd mill (expandable to 500 tpd), as well as the mine's non-remote location will reduce the cost of future development. The mill processes efficiently both gold and molybdenum 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. 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, eliminated by Roxmark's consolidation of key properties.
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
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