Premier-Roxmark Intersects 254.8 g/t (7.44 oz/ton) and 60.88 g/t (1.78 oz/ton)
in New Zone Discovered Proximal to Little Long Lac Gold Mine
Toronto, Ontario, March 3, 2008. Roxmark Mines Limited (TSXV - RMK) today announced that drilling by PREMIER GOLD MINES LIMITED (TSX: PG) at the Geraldton Project has confirmed its initial exploration model by intersecting multiple zones with high-grade gold mineralization proximal to the past-producing Little Long Lac Gold Mine including 254.8g/t Au (7.44 opt) over 0.3m, 60.88/t Au (1.78 opt) over 1.0m and 45.3g/t Au (1.32 opt) over 1.0m. The Geraldton Project is being operated by Premier under an option agreement with Roxmark.
The "Geraldton 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. The Project area covers approximately 10 kilometres of some of the most prospective geology in the region and is host to three past-producing mines and numerous exploration targets in a district that has seen historic production of more than 4.1 Million ounces of gold.
The first target area tested in the ongoing $2.5 Million program was to confirm Premier's belief that previously untested sub-parallel mineralized faults occur proximal to the historic Little Long Lac Gold Mine. The mine produced more than 600,000 ounces of gold during the period 1934-53 at an average grade of 11.66g/t Au. The initial drill program consisted of 8 wide-spaced holes drilled immediately south of the historic mine workings over a strike length of 400 metres. This drilling successfully intersected multiple, near-surface, mineralized vein zones including what is believed to be the up-dip extension of the No.10 Vein. Prior to closure, drifting was carried out on the "No.10 Vein" that was discovered on the 16th Level, one of the deeper levels (675 metres below surface) of the mine. Limited data available with respect to this zone suggests that the No.10 Vein carried high-grade gold and that little previous exploration was carr
ied out up-dip towards surface. Highlights from this initial drilling are presented in Table 1.
Table 1 Significant Results at Little Long Lac Target Area
|
Hole-ID |
Section |
From |
To |
Length (m) |
Zone |
AU (g/t) |
AU (opt) |
|
PLL07001 |
1400E |
105.0 |
106.0 |
1.0 |
12 (New) |
60.88 |
1.78 |
|
|
|
168.0 |
169.0 |
1.0 |
11 (New) |
45.32 |
1.32 |
|
|
|
189.0 |
190.9 |
1.9 |
10 |
8.70 |
0.25 |
|
|
|
288.3 |
289.8 |
1.5 |
9 |
11.43 |
0.33 |
|
PLL07002 |
1500E |
120.5 |
120.8 |
0.3 |
11 (New) |
254.79 |
7.44 |
|
|
|
227.0 |
228.0 |
1.0 |
10 |
2.94 |
0.09 |
|
|
|
256.8 |
260.0 |
3.2 |
9 |
2.36 |
0.07 |
|
PLL07003 |
1400E |
150.0 |
152.0 |
2.0 |
10 |
6.95 |
0.20 |
|
|
|
193.3 |
194.3 |
1.0 |
9 |
3.28 |
0.10 |
|
PLL07004 |
1500E |
26.0 |
27.0 |
1.0 |
(New) |
5.24 |
0.15 |
|
PLL07005 |
1400E |
143.0 |
146.0 |
3.0 |
12 (New) |
4.60 |
0.13 |
|
|
|
354.0 |
358.5 |
4.5 |
9 |
5.81 |
0.17 |
|
PLL07006 |
1500E |
101.0 |
102.0 |
1.0 |
12 (New) |
7.81 |
0.23 |
|
|
|
188.0 |
189.0 |
1.0 |
11 (New) |
4.58 |
0.13 |
|
PLL07007 |
1600E |
94.4 |
95.4 |
1.0 |
11 (New) |
15.04 |
0.44 |
|
PLL07008 |
1650E |
47.5 |
48.0 |
0.5 |
(New) |
2.11 |
0.06 |
NOTE: True widths estimated at approximately 70% of intersection width
Current drilling is following-up on the new high-grade gold veins to further delineate the zones, and is also testing two additional, highly prospective targets located immediately north and east of the Little Long Lac Mine.
Premier, operator of the Project, holds the option to earn up to a 70% interest in the Geraldton Project by making cash and share payments to Roxmark, and performing exploration on the Project. 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.
In the Beardmore Camp, Roxmark is preparing a 6,200-metres program at the Northern Empire Gold Mine to delineate the Contact Zone along a strike length of 1,250 metres. Drilling is resuming this week.
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 the last two 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.
Monir Younan, President Tel.: (416) 860-1636
Roxmark Mines Limited Fax: (416) 360-7355
801- 80 Richmond St. West E-mail: roxmark@on.aibn.com
Toronto, Ontario M5H 2A4 Website: www.roxmark.com
Renmark Financial Communications Inc.
Christine Stewart : cstewart@renmarkfinancial.com
Barbara Komorowski : bkomorowski@renmarkfinancial.com
Tel.: (514) 939-3989
Fax: (514) 939-3717
www.renmarkfinancial.com
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