TORONTO, March 31 /CNW Telbec/ - Roxmark Mines Limited (TSXV-RMK) today
reported on the progress of the drilling program being carried out on the
Hardrock Project joint venture with Premier Gold in Geraldton, Northwestern
Ontario. Drilling by Premier as operator continues to intersect high grade
open pit-style mineralization in the EP-Zone target. Intersections that
include 4.56 grams per tonne gold (g/t Au) across 24.5 metres (m) in hole
EP029, 3.04g/t Au across 31.3m in hole EP031, and 2.63g/t Au across 43.5m in
hole EP032 suggest strong tonnage potential as drilling progresses into the
heart of the EP-Zone. These intersections are located 50 m and 100 m west of a
previously announced intersection of 2.37g/t Au across 62.7m in hole EP026.
This drilling continues to identify significant near-surface (open pit-style)
mineralization contained within multiple zones and further supports the
operator's belief that high grade potential exists proximal to mine workings.
Recent highlights include:- EP-Zone mineralization has been intersected over a minimum strike
length of 400 metres and remains open in all directions.
- The above mentioned intersections are contained within the north limb
of the EP-Zone. Drilling is ongoing in the South Limb (assays pending)
along strike from a previously announced intersection of 11.83 g/t Au
across 11.4 m.
EP-ZONE
-------
The EP-Zone is comprised of near-surface mineralization proximal to the
historic North Zone mine workings from which nearly one million ounces of gold
was produced to a depth of 2,000 feet. Drilling has identified multiple
sub-zones within the iron formation-hosted South (SL) and North (NL) Limbs of
the EP target. Significant mineralization has been intersected over a strike
length of 400 metres, to depths of up to 150 metres and remains open in all
directions.
The following table of the results demonstrates continuity and grade
within the EP-Zone, supporting the operator's belief that historic and new
results will be utilized in a NI43-101 compliant resource calculation which is
expected to be completed in Q4 2009.
-------------------------------------------------------------------------
HOLE FROM TO INTERVAL GRADE INTERVAL GRADE
-ID ZONE (m) (m) (m) (*) (g/tonne) (ft) (*) (oz/t)
-------------------------------------------------------------------------
EP026
(xx) NL 79.0 141.7 62.7 2.37 205.7 0.07
-------------------------------------------------------------------------
EP027 NL - B 5.0 6.0 1.0 5.84 3.3 0.17
NL 48.3 58.7 10.4 1.28 34.1 0.04
-------------------------------------------------------------------------
EP028 NL - B 40.0 51.9 11.9 1.01 39.0 0.03
NL 79.0 88.0 9.0 1.42 29.5 0.04
-------------------------------------------------------------------------
EP029 NL - C 34.5 39.0 4.5 3.46 14.8 0.10
NL - B 54.0 78.5 24.5 4.56 80.4 0.13
NL 96.5 118.7 22.2 1.98 72.8 0.06
-------------------------------------------------------------------------
EP030 NL 159.0 179.0 20.0 1.10 65.6 0.03
-------------------------------------------------------------------------
EP031 NL 111.2 142.5 31.3 3.04 102.7 0.09
-------------------------------------------------------------------------
EP032 NL 13.9 57.4 43.5 2.63 142.7 0.08
-------------------------------------------------------------------------
EP033 NL - B 10.0 24.0 14.0 0.55 45.9 0.02
NL 41.5 57.5 16.0 2.06 52.5 0.06
-------------------------------------------------------------------------
EP034 NL - C 14.5 22.3 7.8 0.90 25.6 0.03
NL - B 38.7 43.8 5.1 3.19 16.7 0.09
NL 70.6 115.5 44.9 1.73 147.3 0.05
Includ
-ing 100.5 114.0 13.5 3.72 44.3 0.11
-------------------------------------------------------------------------
EP035 NL - B 25.0 43.8 18.8 2.04 61.7 0.06
NL 102.6 138.0 35.4 2.12 116.1 0.06
-------------------------------------------------------------------------
EP036 NL - B 13.7 15.0 1.3 27.82 4.3 0.81
NL 24.6 25.0 0.4 7.09 1.3 0.21
-------------------------------------------------------------------------
(*) True widths estimated at approximately 70% of intersection width
(xx) previously announced intersection
The current program at Hardrock Project is expected to consist of more
than 50,000 metres of definition and exploration drilling. The Project is
operated by Premier Gold Mines Limited (TSX-PG) under a joint venture in which
Premier is earning a 70% interest and Roxmark has a 30% carried interest. The
Hardrock Project is host to several past-producing mines which collectively
produced more than 2.0 million ounces of gold from the same deposits to
shallow depths of some 2000 feet (600 metres) from 1938-1968. The mined zones
remained open at depth at the time mining ceased and developed historical
resources were left in place within the existing mine workings. (A qualified
person has not done sufficient work to verify the historical resource, the
Company is not treating the historical resource as a current resource and the
historical resource should not be relied upon).
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:
1) Open pit-style mineralization with grades exceeding 1.5 g/t Au
(Timmins, Hemlo)
2) Broad zones of mineralization with grades averaging 5.0+ g/t Au
(Musselwhite)
3) Narrow vein zones with higher gold grades often exceeding 7.0g/t
(Red Lake, Pickle Lake).Initial drilling is focusing on delineating both open pit and underground
resources with the goal of defining a multi-million ounce gold resource that
can be moved quickly towards development (see references to historical
resources above.). The Project offers development advantages with the
Trans-Canada Highway, TransCanada Pipeline, and major power lines running
through or located proximal to the property. Significant potential exists for
developing resources in several areas including: open pit-style mineralization
at the site of the original discovery where a resource containing several
hundred thousand ounces of gold was partially drilled off by previous
operators; several newer high-grade discoveries that have been made throughout
this large property package that have received little to no follow-up;
resource blocks reported to remain within the mine workings; and the main
mined zones which remain open below the 600 m level.
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. The 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.
The Hardrock Project is located in the heart of the Beardmore-Geraldton
Greenstone Belt, a highly prospective high-grade gold district that has seen
relatively little exploration over the past several decades.
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 aggressively pursuing a number of initiatives in the Beardmore
Camp, including re-opening the Northern Empire Mine utilizing the upgraded
onsite mill.
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 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.
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.
For further information: Monir Younan, President, Roxmark Mines Limited,
(416) 860-1636, Fax: (416) 360-7355, roxmark@on.aibn.com, www.roxmark.com
