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1.54 oz/ton gold over 25.9 feet - Roxmark reports expansion of high-grade
open pit potential at Hardrock Project
- 5.26 grams per tonne gold (g/t Au; 0.15 ounces per ton) across 11.7
metres (m; 38.4 feet) in hole MM053
- 3.50 g/t Au (0.10 ounces/ton) across 36.5m (119.7 feet) in hole MM056
- 52.90 g/t Au (1.54 ounces/ton) across 7.9m (25.9 feet) in hole MM062
- 35.45 g/t Au (1.04 ounces/ton) across 3.6m (11.8 feet) in hole MM066
Recent near-surface holes drilled in the NN Zone, located west along strike from the EP Zone, suggest the potential for defining open-pit resources with multiple horizons having intersection widths of up to 36.5 metres (119.7 feet). New drill results from the NN Zone are contained in the table below.
Premier intends to release the results of the initial resource estimate prior to the end of 2009. Initial drilling results during the latter stages of 2009 support Premier's belief that additional mineral resources, amenable to underground mining methods, may be delineated at depth. It is Premier's intention to aggressively pursue this style of drill target during 2010 with the goal of amending the initial mineral resource sometime after the end of the second quarter.
At Hardrock, 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.
"Since January, the focus at Hardrock has been defining open pit style mineralization, an endeavour that has exceeded our initial expectations", stated Ewan Downie, President of Premier Gold. "With our initial mineral resource estimate now imminent, we have shifted our focus toward outlining higher grade underground style resources. This effort has already resulted in one new high grade discovery".
New Sub Zone Intercepts from NN Zone drilling at Hardrock
-------------------------------------------------------------------------
UTM
Coordi- Dip/ Inter- Grade Inter- Grade
nates Azimuth From To val (g/ val (oz/
Hole-ID (m) (degrees) (m) (m) (m) tonne) (ft) ton) Zone
-------------------------------------------------------------------------
upper
52.5 54.0 1.5 3.37 4.9 0.10 NN
-----------------------------------------------
5502941N 104.0 117.0 13.0 1.02 42.6 0.03 NN
MM052 504351E -45/360 -----------------------------------------------
lower
162.1 163.6 1.5 2.16 4.9 0.06 NN
-------------------------------------------------------------------------
upper
MM053 5502990N 30.0 33.0 3.0 1.53 9.8 0.04 NN
504351E -45/360 -----------------------------------------------
57.0 68.7 11.7 5.26 38.4 0.15 NN
-------------------------------------------------------------------------
MM054 5502964N upper
504217E -45/360 61.0 62.5 1.5 2.25 4.9 0.07 NN
-------------------------------------------------------------------------
upper
15.0 31.5 16.5 2.24 54.1 0.07 NN
MM055 5502943N -----------------------------------------------
504302E -45/360 157.5 160.5 3.0 3.98 9.8 0.12 NN
-----------------------------------------------
lower
169.5 171.0 1.5 1.90 4.9 0.06 NN
-------------------------------------------------------------------------
upper
42.0 78.5 36.5 3.50 119.7 0.10 NN
MM056 5502925N -----------------------------------------------
504217E -50/360 158.9 168.3 9.4 5.16 30.8 0.15 NN
-----------------------------------------------
lower
175.7 181.0 5.3 7.44 17.4 0.22 NN
-------------------------------------------------------------------------
MM057 5502995N -45/360 NSV NN
504298E
-------------------------------------------------------------------------
upper
34.8 46.5 11.7 1.00 38.4 0.03 NN
MM058 5502972N -----------------------------------------------
504143 E -45/360 134.6 137.1 2.5 3.27 8.2 0.10 NN
-----------------------------------------------
lower
166.1 167.3 1.2 5.57 3.9 0.16 NN
-------------------------------------------------------------------------
upper
63.0 69.2 6.2 1.00 20.3 0.03 NN
-----------------------------------------------
MM059 5502905N 126.5 128.0 1.5 71.20 4.9 2.08 x
504350E -45/360 -----------------------------------------------
185.5 188.9 3.4 5.69 11.2 0.17 NN
-----------------------------------------------
lower
217.0 222.0 5.0 2.48 16.4 0.07 NN
-------------------------------------------------------------------------
MM060 5502930N -45/360 144.0 176.1 32.1 1.25 105.3 0.04 NN
504250E
-------------------------------------------------------------------------
upper
33.0 37.5 4.5 1.05 14.8 0.03 NN
MM061 5502981N -----------------------------------------------
504116 E -45/360 96.0 99.0 3.0 1.20 9.8 0.04 NN
-----------------------------------------------
lower
149.9 151.3 1.4 2.46 4.6 0.07 NN
-------------------------------------------------------------------------
upper
110.2 111.4 1.2 1.08 3.9 0.03 NN
MM062 5502885N -----------------------------------------------
504217E -47/360 220.2 228.1 7.9 52.90 25.9 1.54 NN
-----------------------------------------------
lower
245.5 247.5 2.0 3.52 6.6 0.10 NN
-------------------------------------------------------------------------
upper
109.0 114.5 5.5 3.49 18.0 0.10 NN
MM063 5502915N -----------------------------------------------
504290E -45/360 158.5 160.0 1.5 18.80 4.9 0.55 NN
-----------------------------------------------
lower
191.4 193.0 1.6 1.10 5.2 0.03 NN
-------------------------------------------------------------------------
MM064 5502980N -45/360 41.0 42.0 1.0 5.60 3.3 0.16 NN
504251E
-------------------------------------------------------------------------
MM065 5503005N -45/360 46.4 47.8 1.4 2.09 4.6 0.06 NN
504185E
-------------------------------------------------------------------------
upper
MM066 5503005N 4.2 6.5 2.3 13.03 7.5 0.38 NN
504250E -45/360 -----------------------------------------------
65.5 69.1 3.6 35.45 11.8 1.04 NN
-------------------------------------------------------------------------
107.0 108.5 1.5 15.30 4.9 0.45 x
-----------------------------------------------
upper
MM067 5502910N 121.1 123.5 2.4 4.05 7.9 0.12 NN
504150E -50/360 -----------------------------------------------
152.5 160.0 7.5 3.04 24.6 0.09 NN
-----------------------------------------------
lower
180.5 182.0 1.5 2.28 4.9 0.07 NN
-------------------------------------------------------------------------
MM068 5503015N -45/360 11.5 14.5 3.0 3.91 9.8 0.11 NN
504350E
-------------------------------------------------------------------------
MM069 5503030N -45/360 NSV
504250E
-------------------------------------------------------------------------
True widths estimated at approximately 70% of intersection widths
NSV - No Significant Values
The Hardrock Project, located near Geraldton, Ontario, is operated under a joint venture with Roxmark and Premier (Roxmark holds 30% carried 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
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.
SOURCE ROXMARK MINES LIMITED
For further information: For further information: Monir Younan, President, Roxmark Mines Limited, (416) 860-1636, Fax: (416) 360-7355, roxmark@on.aibn.com; www.roxmark.com
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