Roxmarks Properties are the best.
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posted on
Nov 04, 2007 10:20AM
15 Gold properties & 1 Molybdenum resource - Beardmore & Geraldton, N/W Ontario.
I absolutely feel Roxmark has the best properties. Roxmark has a long history in the Beardmore- Geraldton camp. They opperated years ago, were then delisted from the Toroto Exchange,,,have since reorganized,,,,consolidated many of these past producing mines and have aleviated many of the boundery problems that hindered gold production of these individual mining companies.
I went back and found some of the old company yearly reports,,,,2004 and 2005.
Below are some excerpts, Roxmark has been in this camp for many years.
In its first production phase, the Geraldton-
Beardmore Gold Camp ranked among the top five
in Canada producing 4.1 million ounces of gold
from 19.5 million tons of ore or an average
recovered grade of 0.21oz.Au/ton. Roxmark’s
current holdings include six former producing
mines aggregating 20.4% of the total tonnage
milled and 46.1% of the gold recovered i.e. 3.98
million tons milled with an average recovered grade
of 0.46oz.Au/ton for a total of 1,890,045 ounces.
Roxmark has decided to make the contiguous Sand
River-Leitch and East Leitch holdings the
qualifying property for listing purposes. This is also
where we believe we can optimize the use of the
current financial resources. The Sand River Mine
produced 50,065 ounces of gold from 157,870 tons
milled with an average recovered grade of 0.317
ounces per ton. The adjoining Leitch Mine
produced 860,648 ounces from 906,395 tons at an
average recovered grade of 0.91 ounces per ton. It
was regarded as one of Ontario’s highest grade and
most profitable gold mines. The average recovered
grade for the last ten years of operations was
1.15oz.Au/ton. Virtually all of this production came
from the down plunge extension of the Leitch veins
on the Sand River property which was then under
option to Leitch Gold Mine. The property operated
for 30 years and paid out 20% of gross revenue
generated in dividends.
The Sand River-Leitch Mine was shut down in
1965. In that year all production had come from the
30th or 4,525 foot level of the #2 and #2W veins.The ore zone had an economic strike length of 860
feet, an average width of 2.1 feet and a cut grade of
1.13oz.Au/ton. Plans were in place to sink an
internal winze and develop another three levels.
This did not happen because of the economic and
political conditions at the time with gold still fixed
at US$3500 per ounce
Gold mineralization in the Timmins, Kirkland Lake
and Red Lake mining camps persists to depths in
excess of 7,000 feet. There is no known reason why
this should not be the case in the Geraldton-
Beardmore Camp.
After the production ceased, our predecessors
invested a total of $9.5 million on surface
exploration in the 1980s and made at least two
significant new discoveries.
These finds, the #16 Vein system and the East
Leitch high-grade vein system, were not advanced
to their ultimate conclusions because in each case,
they were limited by boundary issues. Now that we
have consolidated the land package, exploration and
development will resume this summer.
Mr. Peter Bevan, P.Eng., a Qualified Person, has
prepared two National Instrument 43-101 ("NI 43-
101") qualifying reports recommending surface
stripping and bulk sampling of these two high-grade
areas. The report suggests a follow-up diamond
drilling program in preparation for an underground
approach geared towards a prefeasibility study and
development, coupled with the exploitation of
known resources.
The back cover of this Annual Report shows a
longitudinal section of the Sand River-Leitch
workings including their servicing and production
shafts. The #16 Vein system is accessible from,
and is within 1,200 feet of, the Sand River shaft. On
the 12th level, a drift comes to within 500 feet of thezone. There are three developed but unmined levels
with good values in the Sand River Mine above the
diabase and another three partially developed levels
below the diabase where a priority target will be to
drive to the west in the Sand River vein.
The Leitch Mine has a deep shaft and winze which
are valuable assets that will be used to explore the
#6, #8, #12, #13, #14 and #15 veins, initially on the
6th level horizon once an underground decision hasbeen made. These veins are within 600 to 800 feet
of the main shaft.
Reason Roxmark was delisted from Toronto Exchange
Records show that the Company was delisted from
the Toronto Stock Exchange on September 5, 2001
for failure to meet the new elevated minimum
listing requirements and was specifically cited for
not having spent the minimum $350,000 on a
program in 1999, after 20 years of continually
meeting all regulations and listing requirements.
This was a time when the Exchange was confronted
with the Bre-X fiasco and other market abuses. An
impersonal purge was carried out and we were
unfortunately caught up in it.