TORONTO, July 29 /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 high-grade gold mineralization in
multiple zones at the Hardrock Project in 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.
Roxmark has a 30% carried interest in the Hardrock Project which is host
to several past-producing mines that collectively produced nearly 3.0 million
ounces of gold primarily from relatively shallow depths (600 metres) between
1938 and1968. 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.
Drilling for the balance of the year will focus on defining both open pit
and underground mineralization such that the property can be moved towards
advanced exploration and feasibility. Drilling at the EP Zone target continues
to exceed expectations, having now intersected mineralization over a strike
length of some 650 metres and to depths approaching 200 metres in the central
portion of the deposit. Additionally, drilling continues to intersect
mineralization in the South Porphyry Zone ("SP"), continuing to define the
zone down-plunge, returning high grade gold within multiple zones. Recent
highlights (some previously released) include:- EP Zone: 5.21 grams per tonne gold (g/t Au) across 37.0 metres (m)
within the North Limb
6.51 g/t Au across 18.4 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
6.60 g/t Au across 32.6 metres within the SP Zone
36.22 g/t Au (1.06 oz/ton) across 2.2 metres within the HGV
Zone target
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 tonnes of
ore were mined at a recovered grade of 7.54 g/t Au. Previous highlights that
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, 4.17 g/t Au across 29.0 m in hole EP053, 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 confines of the target pit area at EP.
The following table summarizes highlights from new assay results at the
EP-Zone. A complete tabulation of results for the EP Zone can be found on
Premier's website, www.premiergoldmines.com.New Sub-Zone Intercepts within the EP Zone Target Area
-------------------------------------------------------------------------
UTM Dip/ In- In- roxmaGra-
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
-------------------------------------------------------------------------
17.0 26.0 9.0 2.17 29.52 0.06 PIT
----------------------------------------------
188.5 203.5 15.0 2.76 49.2 0.08 SL
EP081 5503001 N -60/360 ----------------------------------------------
504815 E 219.0 230.0 11.0 3.66 36.08 0.11 NL
----------------------------------------------
264.5 268.0 3.5 17.94 11.5 0.52 NLB
-------------------------------------------------------------------------
134.1 136.5 2.4 1.66 7.9 0.05 SLB
----------------------------------------------
167.5 183.1 15.6 1.05 51.2 0.03 SL
EP082 5503000 N -60/360 ----------------------------------------------
504850 E 196.5 202.9 6.4 1.87 21.0 0.05 NL
----------------------------------------------
206.9 210.5 3.6 7.47 11.8 0.22 X
-------------------------------------------------------------------------
37.5 39.4 1.9 12.54 6.2 0.37 SLC
----------------------------------------------
EP083 5503011 N -60/360 88.5 96.0 7.5 1.66 24.6 0.05 SLB
504903 E ----------------------------------------------
131.2 137.2 6.0 8.45 19.7 0.25 SL
-------------------------------------------------------------------------
33.5 36.8 3.3 7.93 10.8 0.23 SLB
EP084 5503095 N -45/360 ----------------------------------------------
504915 E 44.3 45.2 0.9 21.70 3.0 0.63 SL
-------------------------------------------------------------------------
7.3 29.8 22.5 4.15 73.8 0.12 NL
EP085 5503162 N -45/180 ----------------------------------------------
504950 E 51.0 56.0 5.0 1.32 16.4 0.04 SL
-------------------------------------------------------------------------
EP086 5503228 N
505050 E -50/180 134.5 140.5 6.0 1.35 19.7 0.04 NL
-------------------------------------------------------------------------
15.5 33.9 18.4 6.51 60.4 0.19 NL
EP087 5503160 N -45/180 ----------------------------------------------
505052 E 45.4 46.9 1.5 3.50 4.9 0.10 SL
-------------------------------------------------------------------------
EP088 5503049 N
505052 E -65/360 104.0 104.9 0.9 8.92 3.0 0.26 SL
-------------------------------------------------------------------------
EP089 5502999 N
505101 E -45/360 111.0 114.0 3.0 1.60 9.8 0.05 SLB
-------------------------------------------------------------------------
EP090 5503100 N -45/360 21.0 40.0 19.0 2.43 62.3 0.07 SL
inclu- 504099 E ----------------------------------------------
ding 21.0 29.0 8.0 5.06 26.2 0.15 SL
inclu- ----------------------------------------------
ding 26.6 27.7 1.1 20.70 3.6 0.60 SL
-------------------------------------------------------------------------
EP091 5503180 N
505098 E -45/180 NSV
-------------------------------------------------------------------------
EP092 5503164 N
505149 E -45/360 NSV
-------------------------------------------------------------------------
51.0 53.0 2.0 5.30 6.6 0.15 SLC
EP093 5503001 N -45/360 ----------------------------------------------
504815 E 107.5 109.0 1.5 3.23 4.9 0.09 SL
-------------------------------------------------------------------------
EP094 5503124 N
505198 E -45/360 NSV
-------------------------------------------------------------------------
EP095 5503075 N
505198 E -45/360 NSV
-------------------------------------------------------------------------
115.5 118.5 3.0 1.56 9.8 0.05 SLB
EP096 5503024 N -45/360 ----------------------------------------------
505200 E 128.5 129.5 1.0 26.10 3.3 0.76 SL
-------------------------------------------------------------------------
109.0 110.5 1.5 7.19 4.9 0.21 SL
----------------------------------------------
118.2 120.7 2.5 3.80 8.2 0.11 NL
EP097 5503075 N -45/360 ----------------------------------------------
504500 E 154.5 161.4 6.9 1.49 22.6 0.04 NLB
----------------------------------------------
175.5 178.5 3.0 14.97 9.8 0.44 NLC
-------------------------------------------------------------------------
4.8 6.3 1.5 3.78 4.9 0.11 SLB
----------------------------------------------
EP098 5503001 N -50/360 38.5 40.0 1.5 6.64 4.9 0.19 SL
504450 E ----------------------------------------------
211.9 251.9 40.0 1.13 131.2 0.03 NL
----- ----------------------------------------------
inclu- 241.0 245.1 4.1 3.06 13.4 0.09 NLC
ding
-------------------------------------------------------------------------
EP099 5503030 N
504450 E -50/338 NSV
-------------------------------------------------------------------------
51.0 60.5 9.5 17.16 31.2 0.50 SLB
----------------------------------------------
115.5 118.5 3.0 1.96 9.8 0.06 SL
EP100 5502970 N -50/360 ----------------------------------------------
504450 E 152.0 154.5 2.5 8.20 8.2 0.24 NL
----------------------------------------------
175.0 179.5 4.5 7.94 14.8 0.23 NLB
----------------------------------------------
262.5 268.1 5.6 2.25 18.4 0.07 NLC
-------------------------------------------------------------------------
(*) True widths estimated at approximately 70% of intersection widths
SP Zone
-------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
un-mined down-plunge extension of the SP Zone suggests the potential to define
mineralization over a plunge length of nearly 3.0 kilometres (8,500 feet). The
initial holes drilled have now intersected mineralization over a minimum
plunge length of 500 metres where it remains open. Highlights include 6.60 g/t
Au across 32.6 m and 6.63 g/t Au across 28.1 m within the SP Zone, and 36.22
g/t Au across 2.2 m within the HGV Zone.
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 Thunder
Bay, 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. 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.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
