Premier-Roxmark Geraldton Drilling Continues to Expand Gold Zones
Toronto, Ontario, May 6, 2008. Roxmark Mines Limited (TSXV - RMK) today announced additional drilling results from an ongoing exploration program conducted by Premier Gold Mines Limited (TSX: PG) as operator of the Geraldton Project.
Drilling continues to locate new discoveries of gold mineralization in both the newly-discovered Kailey Zone and in the high-grade area south of the historic Little Long Lac Gold Mine. Highlights include 1.32 grams per tonne gold (g/t Au) across 49.0 metres in the Kailey Zone, 11.7g/t Au across 2.5 metres in the No.9 Vein, 12.84g/t Au across 1.3 metres in the No.10 Vein, and 33.93g/t Au across 2.3 metres in the Main Zone.
Kailey Zone
The newly discovered "Kailey" Zone is located parallel to and north of the mine workings of the historic Little Long Lac Gold Mine, and consists of multiple stringer quartz veins with minor mineralization. This near-surface, open pit style, gold mineralization is also located in close proximity to the recently discovered high-grade gold zones (see Table 2) situated to the south of the Little Long Lac Gold Mine. To date, 16 holes have been drilled to test the Kailey horizon and all have intersected variable widths of stringer mineralization over an area 300 metres along strike by 225 metres deep - mineralization remains open in all directions. The Little Long Lac Main Zone saw the production of more than 600,000 ounces of gold during the period 1934-53 at an average grade of 11.66g/t Au. The following table provides a complete summary of assay results received from drilling on the Kailey and Main Zone:
Table 1 Significant Results at Stringer Zone - Little Long Lac Target Area
|
Hole-ID |
Section |
From |
To |
Length (m) |
Zone |
AU (g/t) |
AU (opt) |
|
PLL08009 |
1400E - 3+75N |
18.0 |
82.0 |
64.0 (210 ft) |
Kailey |
1.14 |
0.033 |
|
|
Incl. |
28.0 |
79.0 |
51.0 (167 ft) |
Kailey |
1.33 |
0.039 |
|
PLL08012 |
1225E - 4+50N |
137.0 |
163.0 |
26.0 (85 ft) |
Kailey |
1.34 |
0.039 |
|
|
|
385.0 |
386.0 |
1.0 (3.3 ft) |
Main East |
13.58 |
0.40 |
|
PLL08014 |
1225E - 4+50N |
|
|
Abandoned |
|
|
|
|
PLL08015 |
1220E - 4+30N |
78.0 |
127.0 |
49.0 (161 ft) |
Kailey |
1.32 |
0.039 |
|
PLL08016 |
1220E - 4+30N |
|
|
18.0 (59 ft) |
Kailey |
1.48 |
0.043 |
|
PLL08017 |
1220E - 4+30N |
171.0 |
196.0 |
25.0 (82 ft) |
Kailey |
0.63 |
0.018 |
|
PLL08018 |
1135E - 3+66N |
37.0 |
39.3 |
2.3 (7.5 ft) |
Main West |
33.93 |
0.99 |
|
|
|
144.0 |
165.0 |
21.0 (69 ft) |
Kailey |
1.40 |
0.041 |
|
PLL08021 |
1135E - 3+66N |
66.0 |
87.0 |
21.0 (69 ft) |
Kailey |
1.21 |
0.035 |
|
|
|
226.0 |
239.0 |
13.0 (43 ft) |
Kailey |
1.40 |
0.041 |
NOTE: True widths estimated at approximately 70% of intersection width
High-Grade Area
In addition to the Kailey zone, high-grade gold mineralization occurring in several parallel vein zones is being tested in an area located approximately 300 metres to the southeast. The primary target of these veins are the No.9 and No.10 Vein Zones, which continue to provide consistently significant results as high as 254.8g/t Au (7.44 opt) over 0.3m and 60.88/t Au (1.78 opt) over 1.0m. The following table provides a complete summary from results received from this area:
Table 2:
|
Hole-ID |
Section |
From |
To |
Length (m) |
Zone |
AU (g/t) |
AU (opt) |
|
PLL07001 |
1400E - 0+00 |
105.0 |
106.0 |
1.0 (3.3 ft) |
11 (New) |
60.88 |
1.78 |
|
|
|
168.0 |
169.0 |
1.0 (3.3 ft) |
10a (New) |
45.32 |
1.32 |
|
|
|
189.0 |
190.9 |
1.9 (6.2 ft) |
10 |
8.70 |
0.25 |
|
|
|
288.3 |
289.8 |
1.5 (4.9 ft) |
9 |
11.43 |
0.33 |
|
PLL07002 |
1500E - 0+25N |
120.5 |
120.8 |
0.3 (1.0 ft) |
10 |
254.79 |
7.44 |
|
|
|
256.8 |
260.0 |
3.2 (10.5 ft) |
9 |
2.36 |
0.07 |
|
PLL07003 |
1400E - 0+50N |
150.0 |
152.0 |
2.0 (6.6 ft) |
10 |
6.95 |
0.20 |
|
|
|
193.3 |
194.3 |
1.0 (3.3 ft) |
9 |
3.28 |
0.10 |
|
PLL07004 |
1500E - 0+50N |
26.0 |
27.0 |
1.0 (3.3 ft) |
(New) |
5.24 |
0.15 |
|
PLL07005 |
1400E - 0+50S |
143.0 |
146.0 |
3.0 (9.8 ft) |
11 (New) |
4.60 |
0.13 |
|
|
|
354.0 |
358.5 |
4.5 (14.8 ft) |
9 |
5.81 |
0.17 |
|
PLL07006 |
1500E - 0+25S |
101.0 |
102.0 |
1.0 (3.3 ft) |
11 (New) |
7.81 |
0.23 |
|
|
|
188.0 |
189.0 |
1.0 (3.3 ft) |
10 |
4.58 |
0.13 |
|
PLL07007 |
1600E - 0+50N |
94.4 |
95.4 |
1.0 (3.3 ft) |
11 (New) |
15.04 |
0.44 |
|
PLL07008 |
1650E - 1+00S |
47.5 |
48.0 |
0.5 (1.6 ft) |
(New) |
2.11 |
0.06 |
|
PLL08010 |
1550E - 0+25N |
|
|
Nsv |
|
|
|
|
PLL08011 |
1450E - 0+00 |
250.0 |
251.0 |
1.0 (3.3 ft) |
10 |
15.00 |
0.44 |
|
|
|
318.0 |
320.5 |
2.5 (8.2 ft) |
9 |
11.72 |
0.34 |
|
PLL08013 |
1375E - 1+15S |
427.0 |
428.3 |
1.3 (4.3 ft) |
10 |
12.84 |
0.37 |
|
PLL08019 |
1375E - 1+00S |
|
|
Abandoned |
|
|
|
|
PLL08020 |
1375E - 1+00S |
335.0 |
338.0 |
3.0 (9.8 ft) |
10 |
3.61 |
0.11 |
|
|
|
418.0 |
421.0 |
3.0 (9.8 ft) |
9 |
8.19 |
0.24 |
NOTE: True widths estimated at approximately 70% of intersection width
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. Core from Geraldton is sent to Accurassay Laboratories, an accredited mineral analysis laboratory in Thunder Bay, Ontario, for preparation and analysis utilizing both fire assay and screen metallic methods.
Premier holds the option to acquire up to a 70% interest in the Geraldton Project from Roxmark Mines by making cash and share payments to Roxmark and performing exploration on the Project. The current drilling in excess of 13,000 metres is part of an ongoing minimum $2.5 million exploration program aimed at confirming Premier's belief that previously untested sub-parallel mineralized faults occur proximal to the historic Little Long Lac Gold Mine. A systematic drill program is being carried out at Little Long Lac in an effort to build gold resources in the Kailey, No.9 and No.10 Vein zones.
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.
At the Northern Empire Mine in its neighbouring Beardmore Camp, Roxmark is actively drilling to delineate the Contact Zone along a strike length of 1,250 metres and certain sections of the Power Zone which were not previously mined. The 6,200-metre program is being supervised by Peter Bevan, P.Eng., a Qualified Person. In January 2008, the Company issued a NI43-101 compliant report outlining resources of 200 metres of strike length of the Contact and Power zones located on the eastern end of the Mine. The Northern Empire Mine was operated by Newmont Mines from 1934 to 1941 and was serviced by a shaft to a depth of 2,460 feet, producing 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.
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
Roxmark Mines Limited
801- 80 Richmond St. West
Toronto, Ontario M5H 2A4
Tel.: (416) 860-1636
Fax: (416) 360-7355
E-mail: roxmark@on.aibn.com
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
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
