6.91 g/t gold over 18.7 metres - Roxmark reports expansion of high-grade open
pit potential at Hardrock Project
- NN Zone - 4.93 grams per tonne gold (g/t Au) across 10.5 metres (m) or 0.14 oz/t across 34.4 feet in hole MM071, including 10.03 g/t Au across 3.5 m (0.29 oz/t across 11.5 ft). - NN Zone - 5.69 g/t Au across 24.2 m or 0.17 oz/t across 79.4 feet in hole MM072, including 7.05 g/t Au across 18.1 m (0.21 oz/t across 59.4 ft). - NN Zone - 6.91 g/t Au across 18.7 m or 0.20 oz/t across 61.3 feet in hole MM074, including 11.55 g/t Au across 9.7 m (0.34 oz/t across 31.8 ft). - NN Zone - 3.38 g/t Au across 20.9 m, or 0.10 oz/t across 68.6 feet in hole MM076, including 12.99 g/t Au across 3.5 m (0.38 oz/t across 11.5 ft). - F2 Zone - 5.41 g/t Au across 6.0 m or 0.16 oz/t across 19.7 feet in hole MM051, including 18.70 g/t Au across 1.2m ( 0.55 oz/t across 3.9 feet). - F2 Zone - 8.30 g/t Au across 2.6m or 0.24 oz/t across 8.5 feet in hole MM051. - Northeast Zone - 121.00 g/t Au across 1.5m or 3.53 oz/ton across 4.9 feet in hole MM051.
Complete new drill results are contained in Table 1 and Table 2.
Due to these outstanding new results, which expand near-surface mineralization along strike to the west, the upcoming NI 43-101 resource calculation will be delayed to incorporate these drill holes. Therefore, the initial compliant resource is now expected to be released in
"It is truly remarkable that we are continuing to expand the near-surface mineralized zones westward. This was unexpected and of such significance that we've decided to incorporate the new drill-hits into the resource evaluation," stated
Table 1 New NN Zone Intercepts from Hardrock drilling ------------------------------------------------------------------------- Hole- UTM ID Coordi- Dip/ Inter- Grade Inter- Grade nates Azimuth From To val (g/ val (oz/ (m) (degrees) (m) (m) (m) tonne) (ft) ton) Zone ------------------------------------------------------------------------- MM070 5502901 N -45/360 ddh NN 504100 E aban- doned ------------------------------------------------------------------------- MM071 5502884 N -47/360 72.0 74.7 2.7 3.82 8.9 0.11 Upper 504250 E ---------------------------------------- NN 274.5 285.0 10.5 4.93 34.4 0.14 NN inclu- ---------------------------------------------- ding 279.0 282.5 3.5 10.03 11.5 0.29 NN ------------------------------------------------------------------------- MM072 5502901 N -46/360 172.5 196.7 24.2 5.69 79.4 0.17 NN 504100 E ---------------------------------------------- inclu- 178.6 196.7 18.1 7.05 59.4 0.21 NN ding ---------------------------------------------- 211.6 216.0 4.4 3.58 14.4 0.10 X ------------------------------------------------------------------------- MM074 5502900 N -45/360 150.3 157.5 7.2 2.04 23.6 0.06 Upper 504074 E NN ---------------------------------------------- 175.5 183.0 7.5 5.10 24.6 0.15 NN inclu- ---------------------------------------------- ding 201.0 219.7 18.7 6.91 61.3 0.20 NN ---------------------------------------------- 205.5 215.2 9.7 11.55 31.8 0.34 NN ------------------------------------------------------------------------- MM075 5502889 N -45/360 131.9 134.9 3.0 8.62 9.8 0.25 Upper 504050 E NN ---------------------------------------------- 184.1 188.7 4.6 8.39 15.1 0.24 NN ---------------------------------------------- 272.0 272.8 0.8 12.30 2.6 0.36 X ------------------------------------------------------------------------- MM076 5502929 N -45/360 116.4 137.3 20.9 3.38 68.6 0.10 NN 504025 E ---------------------------------------------- inclu- 120.5 124.0 3.5 12.99 11.5 0.38 NN ding ---------------------------------------------- 196.0 197.9 1.9 10.29 6.2 0.30 X ------------------------------------------------------------------------- MM077 5502869 N -45/360 ddh NN 504024 E aban- doned ------------------------------------------------------------------------- True widths estimated at approximately 70% NSV - No Significant Values of intersection widths Table 2 New F2 Zone Intercepts from Hardrock Drilling ------------------------------------------------------------------------- Hole- UTM ID Coordi- Dip/ Inter- Grade Inter- Grade nates Azimuth From To val (g/ val (oz/ (m) (degrees) (m) (m) (m) tonne) (ft) ton) Zone ------------------------------------------------------------------------- ------------------------------------------------------------------------- MM051 540.0 546.0 6.0 5.41 19.7 0.16 F2 ---------------------------------------------- 544.8 546.0 1.2 18.70 3.9 0.55 F2 5502600 N ---------------------------------------------- 504049 E -66/360 621.4 624.0 2.6 8.30 8.5 0.24 F2 ---------------------------------------------- inclu- 660.5 661.0 0.5 41.00 1.6 1.20 F2 ding (North- east) ---------------------------------------------- 680.0 681.5 1.5 121.00 4.9 3.53 F2 (North- east) ------------------------------------------------------------------------- True widths estimated at approximately 70% NSV - No Significant Values of intersection widths
The Hardrock Project, located near Geraldton, Ontario, is operated under a joint venture with Roxmark and Premier (Roxmark holds 30% carried interest and Premier is earning 70% interest). The Hardrock Project is host to several past-producing mines which collectively produced nearly 3.0 million ounces of gold from shallow depths (600 metres) between 1938 and 1968. The first hole from the current program that tested the North Zone horizon below the bottom mine level at Hardrock returned an impressive 38.2g/t Au (1.14 oz/t) across 4.8m. Follow-up drilling has intersected broad mineralized zones that further demonstrate the potential for the project. The Hardrock Project benefits from development advantages with the Trans-Canada Highway, TransCanada 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.
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
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, [email protected]; www.roxmark.com
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