1.45 oz/ton gold over 20 feet - Roxmark reports expansion of high-grade gold
zones at Hardrock Project
- Drilling to follow up intersections of up to 1,141.5g/t Au across 2.0m in the HGN Zone continues to define high-grade vein-style mineralization with new intercepts of up to 49.81g/t Au across 6.0m. - Drilling at the NN Zone has intersected near-surface high-grade vein-style mineralization with intersections of up to 39.15 g/t Au across 3.6m in addition to further defining potentially open pit-style mineralization along strike from the EP Zone. - Expansion drilling at the South Porphyry (SP) Zone continues to define high-grade mineralization with intersections of up to 15.68g/t Au across 3.4m.
Recent drilling has discovered high-grade gold mineralization (HGN Zone) in close proximity to existing mine workings below and north of the main EP Zone. Mineralization has been intersected over a plunge length of approximately 200 metres where it remains open up and down plunge. New intersections including 49.81g/t Au (1.45 oz/ton gold) across 6.0m (19.7 feet) in hole EP119 complement previously released intersections of 1,141.54 g/t Au (33.33 oz/ton) across 2.0m (6.6 feet) in hole EP105 within the HGN Zone, 8.84g/t Au (0.26 oz/ton) across 7.0m (23.0 feet) in hole EP105 within the NL Zone and 12.5g/t Au (0.36 oz/ton) across 6.7m (22.0 feet) in hole OR007 within the NL Zone. New drill results from the HGN Zone are contained in the following table.
Recent near-surface holes drilled in the NN Zone, located along strike from (and west of) from the EP Zone, suggest the potential for defining open-pit resources with intersections up to 6.42g/t Au (0.24 oz/ton) across 22.4m (73.5 feet). Follow-up drilling continues to define broad zones of near-surface mineralization in addition to a new high-grade vein zone that has returned 39.15g/t Au (1.14 oz/ton gold) across 3.6m (11.8 feet) in hole MM048. New drill results from the NN Zone are contained in the following table.
New Sub Zone Intercepts from Hardrock UTM Coordi- Dip/ Inter- Inter- Grade nates Azimuth From To val Grade val (oz/ Hole-ID (m) (degrees) (m) (m) (m) (g/tonne) (ft) ton) Zone ------------------------------------------------------------------------- EP117 5502940 N -60/360 286.5 300.4 13.9 0.90 45.6 0.03 NLB 504675 E ------------------------------------------------------------------------- 305.7 322.6 16.9 1.80 55.4 0.05 NLC ------------------------------------------------------------------------- 374.0 374.4 0.4 9.59 1.3 0.28 HGN ------------------------------------------------------------------------- EP118 5502910 N -60/360 364.5 370.5 6.0 49.81 19.7 1.45 NLC 504725 E ------------------------------------------------------------------------- including 364.5 366.0 1.5 291.00 4.9 8.50 NLC ------------------------------------------------------------------------- MM047 5502968 N -45/360 66.0 86.0 20.0 1.54 65.6 0.04 NN 504297 E ------------------------------------------------------------------------- MM048 5502968 N -45/360 26.8 30.4 3.6 39.16 11.8 1.14 HGV 504352 E ------------------------------------------------------------------------- 106.9 112.2 5.3 3.09 17.4 0.09 NN ------------------------------------------------------------------------- EP119 5502925 N -50/360 139.5 142.5 3.0 1.20 9.8 0.04 NN 504401 E ------------------------------------------------------------------------- 208.8 219.0 10.2 5.67 33.5 0.17 SLA ------------------------------------------------------------------------- 337.8 339.6 1.8 9.40 5.9 0.27 x ------------------------------------------------------------------------- 346.2 355.4 9.2 1.80 30.2 0.05 HGN ------------------------------------------------------------------------- including 353.5 355.4 1.9 3.95 6.2 0.12 HGN ------------------------------------------------------------------------- EP120 5502994 N -45/360 47.5 49.0 1.5 1.79 4.9 0.05 NN 504402 E ------------------------------------------------------------------------- MM041 5502675 N -50/360 264.5 267.3 2.8 4.74 9.2 0.14 SP 504150 E ------------------------------------------------------------------------- 330.5 334.5 4.0 4.47 13.1 0.13 F ------------------------------------------------------------------------- including 330.5 331.0 0.5 24.60 1.6 0.72 F ------------------------------------------------------------------------- MM042 5502676 N -55/360 285.7 286.7 1.0 3.84 3.3 0.11 SP 503950 E ------------------------------------------------------------------------- 369.6 384.5 14.9 1.50 48.9 0.04 F ------------------------------------------------------------------------- 394.0 399.9 5.9 3.23 19.4 0.09 F ------------------------------------------------------------------------- MM043 5502630 N -55/360 338.0 375.4 37.4 3.73 122.7 0.11 SP 504000 E ------------------------------------------------------------------------- including 348.2 352.0 3.8 9.49 12.5 0.28 SP ------------------------------------------------------------------------- including 362.5 365.2 2.7 10.43 8.9 0.30 SP ------------------------------------------------------------------------- including 372.0 375.4 3.4 15.68 11.2 0.46 SP ------------------------------------------------------------------------- MM044 5502689 N -60/360 352.5 381.0 28.5 3.39 93.5 0.10 SP 503842 E ------------------------------------------------------------------------- including 363.5 369.9 6.4 6.48 21.0 0.19 SP ------------------------------------------------------------------------- including 374.0 381.0 7.0 6.75 23.0 0.20 SP ------------------------------------------------------------------------- 409.0 417.0 8.0 8.57 26.2 0.25 F ------------------------------------------------------------------------- MM045 5502676 N -60/360 Assays pending 503751 E ------------------------------------------------------------------------- MM046 5502652 N -60/360 Assays pending 503749 E ------------------------------------------------------------------------- PIT022 5502765 N -55/360 60.5 80 19.5 1.85 63.96 0.05 PIT 504550 E ------------------------------------------------------------------------- 97 146.5 49.5 0.87 162.36 0.03 SP ------------------------------------------------------------------------- including 97 101 4 5.75 13.12 0.17 SPA ------------------------------------------------------------------------- 213.7 247.5 33.8 0.69 110.864 0.02 PIT ------------------------------------------------------------------------- 490 491 1 7.27 3.28 0.21 X ------------------------------------------------------------------------- 552.9 553.2 0.3 17.8 0.984 0.52 HGN ------------------------------------------------------------------------- True widths estimated at approximately 70% of intersection widths SL - South Limb EP Zone NL - North Limb EP Zone HGN - High Grade North Zone HGV - High Grade Vein NN - New North Zone SP - South Porphyry Zone PIT - Porphyry Hill
Ongoing work at Hardrock is testing both open pit and underground type targets. The EP and NN Zones are two of several potential open pit zones that are being detailed in preparation for the completion of an NI 43-101-compliant resource calculation which is expected to be completed in Q4 2009 (initial open pit resource).Significant potential exists for developing resources in several areas including:
- Open pit-style mineralization at sites where historic resources were partially delineated by previous operators, in addition to newly defined mineralization at the Tenacity, EP and Kailey Zones; - Numerous surface and historic high-grade gold intercepts throughout the large property package that have received little to no follow-up; - Historic resource blocks reported to remain within the mine workings, including high-grade vein targets; and, - The main mined zones which remain open below the 600m Level.
The Hardrock Project is operated under a joint venture with Roxmark and Premier (Roxmark holds a 30% interest). The Hardrock Project is host to several past-producing mines which collectively produced nearly 3.0 million ounces of gold primarily from relatively shallow depths (600 metres) from 1938-1968. A recent hole to test the North Zone horizon below the bottom mine level at Hardrock has intersected several mineralized zones further demonstrating the potential for the project. This hole is the first deep hole completed by the joint venture. 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 Ancaster, 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, once Canada's richest producing gold 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.
On
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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For further information: Monir Younan, President, Roxmark Mines Limited, (416) 860-1636, Fax: (416) 360-7355, [email protected]; www.roxmark.com
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