high grade gold & moly

15 Gold properties & 1 Molybdenum resource - Beardmore & Geraldton, N/W Ontario.

Free
Message: What thin Air?? It was drilled and reported by Bevan, currant Geo on site

What thin Air?? It was drilled and reported by Bevan, currant Geo on site

posted on Nov 23, 2007 08:34AM
Toronto, Ontario, November 20, 2007. Roxmark Mines Limited (TSXV ? RMK)(CNQ ? RMKL) today announced that it has scheduled a Winter 2007-08 field drilling program to test the additional known strike length of 1,200 metres still undrilled on the west extension of the Contact Zone at its Northern Empire property. The Company also announced that it is planning to reopen the Northern Empire Mine in late 2008?utilizing existing infrastructure above and below ground?on the strength of expectations driven by results of historical and recent drilling on the mine?s east extension and by the conclusions of a 2006 geological assessment.

The Northern Empire Mine was operated successfully by Newmont Mines from 1934 to 1941. The mine was serviced by a shaft to a depth of 2,640 feet and produced 149,000 ounces of gold from 426,000 tons of ore at a recovered grade of 0.35 oz/t Au. The onsite 200TPD mill (expandable to 500TPD) was built in 1982 and upgraded and permitted by Roxmark. It processed gold and molybdenum ores in 2005 and 2006, respectively.

In 2006, SRK Consulting was commissioned to digitize available drilling and other information on the mine and to develop a 3D mineralization model which outlined 150,000 ounces of potential gold resources in the mine area. The SRK assessment is not NI 43-101 compliant.

This past summer, Roxmark carried out a limited 26-hole program totaling 2,711 metres on a strike length of just 200 metres located 700 metres east of the Northern Empire Mine shaft. This was in addition to the 30 holes (16,805 metres) completed in 1986-1987.

Peter Bevan, consulting geologist and a qualified person under NI 43-101, has calculated the resources above the diabase sill to the second level (300 feet) only, as per NI 43-101, although mineralization continues at depth and along the strike. Based on a cut-off grade of 3g/t and a minimum horizontal width of 0.92 metres, indicated and inferred resources for 200 metres of strike length of the Contact and Power zones are as follows:

Tonnes Grade g/t. Au Grade oz/t. Au Ounces of gold

Power (Indicated) 12,457 16.72 0.49 6,697

Contact (Indicated) 32,544 12.24 0.35 12,808

Power (Inferred) 4,347 19.79 0.58 2,766

Contact (Inferred) 6,829 14.13 0.41 3,102

Total Indicated 45,001 13.48 0.39 19,505

Total Inferred 11,176 16.33 0.48 5,868

Bevan’s report states that, in the recent drilling program from 7+00E to 9+00E, the Contact Zone contains three times the tonnage of the Power Zone and twice the contained ounces of gold for a combined total of 25,373 ounces. Beyond the 6,000 metres of surface drilling, Bevan’s recommendations in the NI 43-101 report, which will be made available shortly, are to dewater the mine, drift in the two vein structures, conduct an underground bulk sample, and carry out underground drilling to east and west of the shaft.

Roxmark is currently choosing a drilling contractor to conduct the winter program. In addition, it is proceeding with all necessary steps, including mine planning, permitting, and employee training, to stay on the critical path toward reopening of the Northern Empire Mine in late 2008.

Share
New Message
Please login to post a reply