TORONTO, Oct. 20 /CNW Telbec/ - Roxmark Mines Limited (TSXV-RMK) today announced both plans to extend its 2009 drilling program on the Northern Empire Mine property and completion of an aeromagnetic survey of the Leitch-Sand River property.
Northern Empire drilling will be focused on the McKenzie-Jarvala Vein system, 1.5 kilometres east of the recently-discovered high-grade gold zone and parallel to the Power and Contact Zones. The Jarvala Vein system, known since the 1930s, is comprised of five separate geophysical targets, all parallel and within a 500m envelope and continues for a four kilometre strike length. Grab samples from the veins up to 0.60 metre in width returned gold values of 0.42 and 6.10 oz/t Au (A. Hopkins, 1975). While evaluation in this area has been limited, Roxmark's 2008 airborne geophysical survey outlined clustered magnetic anomalies that warrant further exploration.
A program of up to 3,000 metres of diamond drilling is planned to begin in November. The drill rig is currently on the property. Peter Bevan, P.Eng., consulting geologist, 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.
More than 1,450 kilometres of data generated by an aeromagnetic survey on the Leitch-Sand River Mine property is now available for detailed analysis. New, high-grade parallel structures at the Northern Empire in Beardmore were identified by an aeromagnetic survey carried out in 2008. Exploration by Premier Gold, as operator, has also identified many new parallel occurrences on numerous historically mined properties on Roxmark lands in Geraldton as part of the Hardrock Project joint venture exploration program.
Depending on results of the survey, Roxmark plans diamond drilling on the Leitch-Sand River property in the winter of 2009/10. The property is located 10 kilometres from Roxmark's Northern Empire mill.
Operated continuously over a period of nearly 30 years and producing 847,900 oz of gold with an average ore grade of 0.92 oz/t Au, the Leitch Mine was shut down in 1965 as a result of $35 gold and boundary disputes which Roxmark eliminated by acquiring the Sand River Mine. At just over 3,000 feet, the Leitch Mine was shallow by the standards of top producers in nearby camps. It never ran out of gold at depth and both ore grade and vein width increased with depth. Mining records of the time record several drill assays of more than two ounces per ton over two feet located 100 feet below the 30th level.
"We have had the McKenzie-Jarvala structure on the back burner for some time," said Monir Younan, Roxmark president. "Our interest in drilling it was rekindled by our recent success in identifying additional potential gold mineralization from structures outlined by the airborne survey."
"Our initial approach to the Leitch-Sand River Mine property will be to look for extensions and parallel occurrences to the previously-mined structures," Younan added. "We are also very aware of the potential for further development of the mines using existing workings, since both were open at depth and along strike when shut down because of boundary disputes and $35 gold."
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 October 13, 2009, Roxmark and Ontex Resources announced their intention to merge, subject to shareholder approval and other conditions, creating a combined company with significantly greater gold resources and land holdings in the Geraldton-Beardmore area-as well as important operational synergies. The merger values each Roxmark share at .8 of an Ontex share.
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.
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SOURCE ROXMARK MINES LIMITED
For further information: For further information: Monir Younan, President, Roxmark Mines Limited, (416) 860-1636, Fax: (416) 360-7355, firstname.lastname@example.org; www.roxmark.com