19.03 g/t Au across 11.3m and 6.63 g/t Au across 28.1m
TORONTO, June 17 /CNW Telbec/ - Roxmark Mines Limited (TSXV-RMK) today announced that ongoing drilling by Premier Gold Mines Limited (TSX-PG) as operator continues to define significant gold mineralization in multiple zones at the Company's Hardrock Joint Venture Project in the Geraldton camp, 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 continues to exceed expectations with recent step-out and infill holes returning some of the best results received to date. The first three holes drilled to test the South Porphyry Zone ("SP") have all returned high-grade gold mineralization within multiple zones.
Highlights from recent drilling include:
- EP Zone: 5.21 grams per tonne gold (g/t Au) across 37.0 metres within
the North Limb - 19.03 g/t Au across 11.3 metres in step-out
drilling on the South Limb
- SP Zone: 6.63 g/t Au across 28.1 metres within the SP Zone underground
target
36.22 g/t Au (1.06 oz/ton) across 2.2 metres within the HGV
Zone target.
Roxmark has a 30% carried interest in the Hardrock Project. The Hardrock Project is host to several past-producing mines which 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. Historically at Hardrock, little effort was made to define narrow vein, high grade mineralization as bulk mining methods were used to extract the ore.
EP-Zone
-------
The EP-Zone has been identified as a potential high-grade open pit target in the vicinity of the historic North Zone, from which 2.97 million short tons of ore were mined at a recovered grade of 0.22 ounces per ton gold (7.54 g/t Au). Drilling has intersected mineralization in multiple sub-zones within the EP target over a strike length of 600 metres.
Previous highlights include 7.60 g/t Au across 20.5 m in hole EP044, 2.37 g/t Au across 62.7 m in hole EP026, and 4.17 g/t Au across 29.0 m in hole EP053. New results, that include 6.66 g/t Au across 14.0 m in hole EP074, 5.21 g/t Au across 37.0 m in hole EP079, and 19.03 g/t Au across 11.3 m in hole EP080 continue to define and expand mineralization within the EP target area.
Table 1 highlights new assay results at the EP-Zone. A complete table of results for the EP Zone can be found on the Company's website, www.premiergoldmines.com.
Table 1 New Sub-Zone Intercepts within the EP 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
-------------------------------------------------------------------------
North
5503053 N 147.6 156.4 8.8 5.81 28.9 0.17 Limb B
EP058 504699 E -45/360 ----------------------------------------------
North
165.7 176.4 10.7 3.03 35.1 0.09 Limb C
-------------------------------------------------------------------------
South
62.4 62.9 0.5 5.89 1.6 0.17 Limb
----------------------------------------------
5503076 N North
EP061 504652 E -50/360 71.5 72.0 0.5 7.19 1.6 0.21 Limb
----------------------------------------------
North
165.7 180.1 14.4 1.23 47.2 0.04 Limb C
-------------------------------------------------------------------------
South
89.6 98.7 9.1 0.73 29.8 0.02 Limb
----------------------------------------------
North
116.5 117.2 0.7 5.04 2.3 0.15 Limb
5503052 N ----------------------------------------------
EP062 504650 E -50/360 North
135.2 159.2 24.0 1.71 78.7 0.05 Limb B
----------------------------------------------
North
195.7 196.2 0.5 7.31 1.6 0.21 Limb C
-------------------------------------------------------------------------
North
5503052 N 130.8 135.4 4.6 4.00 15.1 0.12 Limb
EP063 504650 E -60/360 ----------------------------------------------
North
181.3 187.1 5.8 4.30 19.0 0.13 Limb B
-------------------------------------------------------------------------
South
5503027 N 74.9 92.9 18.0 1.49 59.0 0.04 Limb B
EP064 504653 E -60/360 ----------------------------------------------
North
212.8 217.7 4.9 2.83 16.1 0.08 Limb C
-------------------------------------------------------------------------
North
124.7 125.7 1.0 5.48 3.3 0.16 Limb
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5503051 N North
EP066 504601 E -60/360 159.9 162.6 2.7 4.87 8.9 0.14 Limb B
----------------------------------------------
North
249.7 252.0 2.3 5.49 7.5 0.16 Limb C
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South
5503074 N 108.9 120.8 11.9 4.06 39.0 0.12 Limb
EP071 504551 E -60/360 ----------------------------------------------
North
138.1 141.5 3.4 4.48 11.2 0.13 Limb
-------------------------------------------------------------------------
North
5503101 N 106.0 116.1 10.1 1.29 33.1 0.04 Limb
EP072 504549 E -60/360 ----------------------------------------------
North
128.1 135.3 7.2 2.11 23.6 0.06 Limb B
-------------------------------------------------------------------------
5503050 N North
EP074 504500 E -60/360 154.0 168.0 14.0 6.66 45.9 0.19 Limb
-------------------------------------------------------------------------
South
159.0 165.7 6.7 3.16 22.0 0.09 Limb
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5503026 N North
EP078 504750 E -60/360 176.5 185.5 9.0 2.59 29.5 0.08 Limb
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North
193.0 218.5 25.5 2.12 83.6 0.06 Limb B
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EP079 5503102 N North
504808 E -45/360 40.0 77.0 37.0 5.21 121.4 0.15 Limb
-------------------------------------------------------------------------
South
75.0 76.5 1.5 21.10 4.9 0.62 Limb C
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South
131.0 146.4 15.4 2.10 50.5 0.06 Limb B
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5503026 N South
EP080 504807 E -60/360 156.2 167.5 11.3 19.03 37.1 0.56 Limb
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North
187.5 189.0 1.5 14.00 4.9 0.41 Limb
----------------------------------------------
North
241.5 246.0 4.5 2.13 14.8 0.06 Limb C
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True widths estimated at approximately 70% of intersection widths
UNDERGROUND ZONES
-----------------
Following compilation of data from the Project area, 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, and one of several High Grade Vein Zones ("HGV"), has returned multiple intersections of high-grade gold mineralization.
SP Zone
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At Hardrock, 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). The initial three holes drilled to test this target have all intersected significant mineralization within the SP Zone in addition to high-grade gold within a HGV Zone (Note that only MM006 was drilled far enough to intersect the HGV - other holes are being deepened).
Table 2 summarizes new assay results from drilling to test the SP Zone. Highlights include 6.63 g/t Au across 28.1 m and 6.74 g/t Au across 7.0 m within the SP Zone, 8.42 g/t Au across 2.0 m within the F Zone, and 36.22 g/t Au across 2.2 m within the HGV Zone. SP Zone results correlate very well with previous surface drilling results conducted by Asarco in 1994. Previous SP Zone hits include 11.69 g/t across 7.6 m in 94-77 and 7.76 g/t across 21.6 m in 94-78. Premier plans to include these intercepts in its NI-43101-compliant resource by year-end.
Table 2 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
-------------------------------------------------------------------------
208.1 210.0 1.9 5.88 6.2 0.17 SP
----------------------------------------------
5502718 N 219.0 223.4 4.4 6.36 14.4 0.19 SP
MM004 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
-------------------------------------------------------------------------
230.8 258.9 28.1 6.63 92.2 0.19 SP
MM005 ----------------------------------------------
252.9 258.9 6.0 17.14 19.7 0.50 SP
inclu- 5502703 N ----------------------------------------------
ding 504257 E -55/360 272.3 273.5 1.2 10.92 3.9 0.32 SP
----------------------------------------------
297.5 300.5 3.0 4.57 9.8 0.13 SP
-------------------------------------------------------------------------
244.0 251.0 7.0 6.74 23.0 0.20 SP
5502694 N ----------------------------------------------
MM006 504199 E -55/360 314.5 316.0 1.5 4.80 4.9 0.14 F
----------------------------------------------
371.0 373.2 2.2 36.22 7.2 1.06 HGV
-------------------------------------------------------------------------
(x) True widths estimated at approximately 70% of intersection widths
Recent compilation work has identified what appears to be continuous veining over a plunge length of some 1,100 metres (3,800 feet) with historic intersections that include 112.5 g/t Au (3.28 oz/ton Au) across 1.2m on the 7th Mine Level, 39.1 g/t Au (1.14 oz/ton Au) across 1.2m on the 10th Mine Level, and 88.5 g/t Au (2.58 oz/ton Au) across 1.5m on the 13th Mine Level. MM006 intersected similar high-grade vein mineralization up dip from this previous work. This style of mineralization is similar to that at two of the nearby mines which exist on the Hardrock Property including the Little Long Lac Mine (past production of more than 600,000 ounces of gold at an average recovered grade of 11.66 g/t Au) and the Magnet Mine (past production of more than 150,000 ounces of gold at an average grade of 14.4 g/t Au).
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 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 news 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 Ancaster, Ontario, for preparation and analysis utilizing both fire assay and screen metallic methods.
Roxmark's prime focus is development of gold resources by reopening mines on 100% owned lands in the Beardmore Camp of the Beardmore-Geraldton Greenstone Belt, starting with the Northern Empire Mine, utilizing the Company's updated, fully permitted onsite mill.
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.
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that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.