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Message: ROXMARK Geraldton..
Roxmark reports Hardrock Project drilling defines strong mineralization in several targets
TORONTO, March 20 /CNW Telbec/ - Roxmark Mines Limited (TSXV-RMK) today
reported on progress of the drilling program being carried out on the Hardrock
Project joint venture with Premier Gold in Geraldton, Northwestern Ontario.
Current drilling by Premier as operator has intersected the most significant
mineralization to date in the EP-Zone target; defined a robust gold-bearing
zone at the Tenacity target; and demonstrated high-grade gold potential in the
Oreo Zone.
Drilling continues to identify significant near surface (open pit-style)
mineralization contained within multiple zones and continues to confirm
high-grade potential proximal to existing mine workings. Recent highlights
include:
<<
- EP-Zone mineralization has been intersected over a minimum strike
length of 350 metres (m) with new intersections of up to 2.37 grams per
tonne gold (g/t Au) across 62.7m.
- Tenacity mineralization (open pit and underground target) has returned
near surface intersections of up to 4.13 g/t Au across 18.9 m with
higher grade mineralization of up to 7.79 g/t Au across 5.5 m.
- Oreo drilling proximal to the historic North Zone mine workings
continues to intersect high-grade gold mineralization with
intersections up to 8.25 g/t Au across 2.0 m.
Follow-up drilling, as well as testing of new targets, is on-going.
Results obtained from the zones are as follows:
EP-ZONE
-------
The EP-Zone is comprised of near-surface mineralization proximal to the
historic North Zone mine workings. Drilling has identified multiple sub-zones
within the EP target consisting of the South Limb (SL) and North Limb (NL).
Significant mineralization has been intersected over a strike length of 350
metres and remains open in all directions.
The following tables demonstrate the potential of the EP-Zone,
highlighting mineralization within each horizon. These results demonstrate
continuity and grade within the EP-Zone, supporting Premier's belief that
historic and new results will be utilized in a NI43-101 compliant resource
calculation which is expected to be completed in Q4 2009.
-------------------------------------------------------------------------
Grid Inter-
Coordi- Dip/ section Au
Hole nates Azimuth From-to Int. Int. Au (oz/ EP
No. (m) (Degrees) (m) (m) (ft) (g/t) ton) Zone
-------------------------------------------------------------------------
EP023 504949E -55/180 111.0 - 122.4 11.4 37.4 1.36 0.04 North
Limb
5503237N including 120.7 - 122.4 1.7 5.6 7.46 0.22
146.2 - 147.5 1.3 4.7 13.15 0.38
-------------------------------------------------------------------------
EP024 504900E -45/180 24.0 - 32.5 8.5 27.9 0.82 0.02
5503189N 43.0 - 55.9 12.9 42.3 1.01 0.03 North
Limb
-------------------------------------------------------------------------
EP025 504902E -45/180 49.0 - 70.5 21.5 70.5 1.32 0.04 North
Limb
5503222N 96.0 - 100.0 4.0 13.1 2.07 0.06
106.0 - 109.0 3.0 9.8 9.51 0.28
-------------------------------------------------------------------------
EP026 504902E -60/180 79.0 - 141.7 62.7 205.7 2.37 0.07 North
Limb
5503222N including 79.0 - 88.0 9.0 29.5 7.73 0.23
including 97.7 - 119.9 22.2 72.8 2.28 0.07
including 132.6 - 141.7 9.1 29.9 2.88 0.08
198.6 - 201.0 2.4 7.9 1.92 0.06
-------------------------------------------------------------------------
EP021 504948E -50/180 8.9-17.9 9.0 29.5 3.07 0.09 North
5503189N Incl. 15.4-17.9 2.5 8.2 8.06 0.23 Limb
-------------------------------------------------------------------------
EP022 504948E -50/180 52.0-61.0 9.0 29.5 2.62 0.08 North
5503213N 85.0-96.4 10.8 37.4 4.34 0.13 Limb
Incl. 92.2-94.7 2.5 8.2 10.01 0.29
103.0-106.2 3.2 10.5 1.08 0.03
-------------------------------------------------------------------------
(*) True widths estimated at approximately 70% of intersection widths
TENACITY ZONE
-------------
Initial drilling at the Tenacity Zone has confirmed the potential for both
open pit and underground gold mineralization. Drilling has defined a zone with
a strike length of more than 400 metres and is open in all directions. To
date, 20 holes have been drilled into this target with the initial 11
summarized in the following table. Of particular significance is an
intersection of 4.13 g/t Au across 18.9 m in the western most down-plunge
drill-hole, TN011.
Follow-up drilling continues to intersect strong vein zones including
several occurrences of visible gold. These intercepts demonstrate significant
gold mineralization within the Tenacity Zone, which remains open down-plunge
of TN011:
-------------------------------------------------------------------------
Grid Inter-
Coordi- Dip/ section Au
Hole nates Azimuth From-to Int. Int. Au (oz/
No. (m) (Degrees) (m) (m) (ft) (g/t) ton) Zone
-------------------------------------------------------------------------
TN001 505749E -50/360 58.6 - 82.0 23.4 76.8 1.72 0.05 Tena-
city
5502617N 88.5 - 89.5 1.0 3.3 2.68 0.08 TB
107.0 - 108.0 1.0 3.3 16.60 0.48 Sou-
th
HGV
-------------------------------------------------------------------------
TN002 505749E -70/360 95.6 - 99.5 3.9 12.8 2.35 0.07 Tena-
city
5502617N 124.5 - 127.5 3.0 9.8 1.73 0.05 TB
-------------------------------------------------------------------------
TN003 505648E -45/360 80.0 - 97.0 17.0 55.8 1.02 0.03 Tena-
city
5502605N
-------------------------------------------------------------------------
TN004 505647E -55/360 169.0 - 170.4 1.4 4.6 1.20 0.04 TA
5502557N 176.0 - 180.2 4.2 13.8 1.30 0.04 Tena-
city
-------------------------------------------------------------------------
TN005 505549E -50/360 174.1 - 190.5 16.4 53.8 2.25 0.07 Tena-
city
5502558N 196.5 - 198.0 1.5 4.9 2.55 0.07 TB
-------------------------------------------------------------------------
TN006 505551E -50/360 26.8 - 29.5 2.7 8.9 1.77 0.05 Upp-
er
Tena-
city
5502504N 226.5 - 228.0 1.5 4.9 3.73 0.11 Tena-
city
237.0 - 238.5 1.5 4.9 4.62 0.13 Tena-
city
254.0 - 255.5 1.5 4.9 1.65 0.05 TB
-------------------------------------------------------------------------
TN007 505600E -55/360 NSV
5502485N
-------------------------------------------------------------------------
TN008 505651E -45/360 31.5 - 42.7 11.2 36.8 2.15 0.06 Tena-
city
5502656N 53.0 - 78.3 25.3 83.0 2.25 0.07 Tena-
city
-------------------------------------------------------------------------
TN009 505553E -50/360 91.0 - 110.0 19.0 62.4 1.71 0.05 Tena-
city
5502605N 138.0 - 152.0 14.0 45.9 4.77 0.14 Tena-
city
183.5 - 186.5 3.0 9.8 2.11 0.06 East
Pit
-------------------------------------------------------------------------
TN010 505642E -55/360 226.5 - 228.7 2.2 7.2 1.41 0.04 Tena-
city
5502497N
-------------------------------------------------------------------------
TN011 505450E -50/360 257.8 - 276.7 18.9 62.0 4.13 0.12 Tena-
city
5502508N
-------------------------------------------------------------------------
(*) True widths estimated at approximately 70% of intersection widths
(xx) NSV - No significant assay values
OREO ZONE
---------
The Oreo Zone was identified in historic drilling between the two main
producing horizons at Hardrock, the North Iron Formation and the Porphyry Hill
horizons. Historic drilling, testing for mineralization between these horizons
returned numerous high-grade intercepts in the area currently being tested.
The current program has intersected gold mineralization within the Oreo Zone
and proximal to the North Zone mine workings. The following table provides
results from the continued drilling at the Oreo and North Zones:
-------------------------------------------------------------------------
Grid Inter-
Coordi- Dip/ section Au
Hole nates Azimuth From-to Int. Int. Au (oz/
No. (m) (Degrees) (m) (m) (ft) (g/t) ton) Zone
-------------------------------------------------------------------------
OR004 504601E -60/360 NSV
5502925N
-------------------------------------------------------------------------
OR005 504701E -60/360 414.5 - 416.0 1.5 4.9 12.99 0.38 North
5502921N
-------------------------------------------------------------------------
OR006 504653E -55/360 96.0 - 109.0 13.0 42.6 2.03 0.06 West
Pit
5502729N Including 96.0 - 97.0 1.0 3.3 11.89 0.35 West
Pit
Including 107.5 - 109.0 1.5 4.9 5.02 0.15 West
Pit
121.1 - 125.5 4.4 14.4 1.44 0.04 PHP
-------------------------------------------------------------------------
OR007 504602E -60/360 110.5 - 112.0 1.5 4.9 2.68 0.08 Dou-
ble
Stuff
5502865N
-------------------------------------------------------------------------
OR008 504700E -60/360 57.2 - 58.7 1.5 4.9 1.70 0.05 PHP
5502865N 98.7 - 111.3 12.6 41.3 1.75 0.05 PHP
129.0 - 129.8 0.8 2.6 13.30 0.39 PHP
156.1 - 157.6 1.5 4.9 5.54 0.16 Dou-
ble
Stuff
225.1 - 226.6 1.5 4.9 6.02 0.18 Dou-
ble
Stuff
-------------------------------------------------------------------------
OR009 504553E -60/360 230.5 - 235.0 4.5 14.8 1.30 0.04 Dou-
ble
Stuff
5502927N 263.5 - 271.0 7.5 24.6 1.48 0.04 Oreo
316.2 - 318.2 2.0 6.6 8.25 0.24 Oreo
349.7 - 350.7 1.0 3.3 10.20 0.30 Oreo
367.4 - 374.0 6.6 21.6 2.10 0.06 North
368.3 - 369.5 1.2 3.9 3.46 0.10 North
372.5 - 373.0 0.5 1.6 10.60 0.31 North
379.4 - 379.9 0.5 1.6 10.10 0.29 North
-------------------------------------------------------------------------
(*) True widths are estimated at approximately 70% of intersection widths
>>
The current program at Hardrock is expected to consist of more than
50,000 metres of definition and exploration drilling. The Project is operated
by Premier Gold Mines Limited (TSX-PG) under a joint venture in which Premier
is earning a 70% interest and Roxmark has a 30% carried interest. The Hardrock
Project is host to several past-producing mines which collectively produced
more than 2.0 million ounces of gold from the same deposits to relatively
shallow depths of approximately 2000 feet (600 metres) from 1938-1968. The
mined zones remained open at depth at the time mining ceased and developed
historical resources were left in place within the existing mine workings (a
qualified person has not done sufficient work to verify the historical
resource, the company is not treating the historical resource as a current
resource and the historical resource should not be relied upon).
Initial drilling with four drills is focusing on delineating both open
pit and underground resources with the goal of defining a multi-million ounce
gold resource that can be moved quickly towards development (See references to
historical resources above.). The Project offers development advantages with
the Trans-Canada Highway, TransCanada PipeLine, and major power lines running
through the center of the property. Significant potential exists for
developing resources in several areas including: open pit-style mineralization
at the site of the original discovery where a resource containing several
hundred thousand ounces of gold was partially drilled off by previous
operators; several newer high-grade discoveries have been made throughout this
large property package that have received little to no follow-up; resource
blocks reported to remain within the mine workings; and the main mined zones
which remain open below the 600-metre level.
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. The 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.
The Hardrock project is located in the heart of the Beardmore-Geraldton
Greenstone Belt, a highly prospective high-grade gold district that has seen
relatively little exploration over the past several decades.
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 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 six formerly highly productive gold mines
located on its properties. These mines previously produced nearly two million
ounces of gold from high grade ore but were closed primarily due to
dramatically lower gold prices at the time and to boundary issues, since
eliminated.
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
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