TORONTO, June 16 /CNW Telbec/ - Roxmark Mines Limited (TSXV-RMK) today
announced that it has started an aggressive 2009 exploration program on its
Beardmore properties, with the prime objective of exploring several new
parallel structures outlined on the Northern Empire Gold Mine property by the
2008 High-Resolution Aeromagnetic (HRAM) airborne geophysical survey.
Work is currently underway to explore two structures at the Northern
Empire which contain several anomalies. In this year's program, prospecting,
geological mapping and mechanical stripping will be carried out prior to 5,000
metres of diamond drilling.
The main structure to be evaluated is 300 metres south of the Power Zone
and can be traced with geophysics for over 1.50 kilometres. To date, the team
has exposed 150 metres of highly mineralized vein structure. The exposed
section is comprised of three distinct veins within a 10 m wide shear zone.
This section is about 440 metres east of a sample taken in 2008 (east of the
Spooner shaft) that returned 3.3g/t of gold. The second target lies a further
250 m south of the main one. Systematic channel sampling will be conducted
when stripping is complete.
Another vein system has also been identified which confirms historical
work on the MacKenzie-Jarvela Vein system. A grab samples from the vein
located about two kilometres east of the mine shaft, returned values ranging
from 0.42 to 6.10 oz/t gold (reported by A. Hopkins in 1975).
The 2009 program will also include exploration work on the Leitch Mine
property, now 100 percent owned by Roxmark and once Canada's richest mine and
on gold veins on the Company's Nortoba-Tyson property.
The program is being supervised by Peter Bevan, P. Eng., who is the
Qualified Person for the information contained in this news release and within
the meaning of NI 43-101.
On November 14, 2008, the Company filed on SEDAR the Technical Qualifying
Report for the Northern Empire Gold Mine, in accordance with NI 43-101
regulations. The updated report was prepared by Bevan. The report established
86,652 tonnes grading 10.70g.Au/t containing 29,807 ounces of Indicated Gold
Resources as well as 64,748 tonnes grading 9.95g.Au/t containing 20,719 ounces
of Inferred Gold Resources, at shallow depths over a limited drilled strike
length of the Contact and Power Zones. Roxmark's news release of October 2,
2008 describes both resources and potential in detail. The mine has historical
resources calculated in 1988 by Dr. S. E. Malouf, then consulting geologist,
at 562,274 tons grading 0.22 oz Au/t. The Company is not treating the
historical estimate as current NI 43-101-defined resources and the historical
estimate should not be relied upon.
The Northern Empire Mine located in the Town of Beardmore, approximately
200 km northeast of Thunder Bay and serviced by the Trans-Canada Highway, was
operated successfully by Newmont Mines from 1934 to 1941. The mine was
serviced by a shaft to a depth of 2,460 feet and produced 149,000 ounces of
gold from 426,000 tons of ore at a recovered grade of 0.35 oz Au/t. The
on-site 200TPD mill (expandable to 500TPD) was built in 1982 and upgraded and
permitted by Roxmark.
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.
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:
For further information: Monir Younan, President, Roxmark Mines Limited,
(416) 860-1636, Fax: (416) 360-7355, email@example.com; www.roxmark.com