Channel sample returns 1.68% Mo over 0.70 metres
Roxmark Extends Molybdenum Mineralization at Nortoba-Tyson Molybdenum Property
Toronto, Ontario, November 13, 2008. Roxmark Mines Limited (TSXV � RMK) today announced the results of surface exploration work completed on vein no. 3 at the Nortoba-Tyson molybdenum gold property, including values as high as 1.68% molybdenum (Mo) over 0.70 metres.
Geological mapping, stripping, trenching and channel sampling were carried out on the vein during the period from August through October of this year. An area of interest situated 74 metres west of trenches 1 & 2 was completely stripped and sampled. The new Nortoba west mineralization extends about 110 metres and opens to the west and depth. The vein has various widths.
Channels were cut every 1.50 metres along strike. Two zones along the strike of the exposed area returned significant assays that warranted further work.
Sample No. |
Zone |
Length (m) |
Width (m) |
Mo % |
2475 |
2 (East) |
|
1.00 |
0.311 |
2476 |
2 (East) |
|
1.00 |
0.035 |
2477 |
2 (East) |
|
1.00 |
0.667 |
2478 |
2 (East) |
|
0.70 |
1.680 |
2479 |
2 (East) |
|
1.00 |
0.015 |
2480 |
2 (East) |
|
0.80 |
0.029 |
2481 |
2 (East) |
|
0.40 |
0.330 |
|
Average Zone 2 |
16.0 |
0.84 |
0.438* |
|
|
|
|
|
2535 |
1 (West) |
|
0.50 |
0.435 |
2536 |
1 (West) |
|
1.00 |
0.011 |
2537 |
1 (West) |
|
0.50 |
0.040 |
2538 |
1 (West) |
|
1.00 |
0.074 |
2539 |
1 (West) |
|
1.00 |
0.035 |
2540 |
1 (West) |
|
1.20 |
0.291 |
|
Average Zone 1 |
12.6 |
0.87 |
0.136* |
*weighted average
Encouraging results from samples as well as preliminary investigation indicate that mineralization increases along the dip. Accordingly, certain areas along the strike were drilled and blasted to make up part of the second bulk sample that is underway from the previous trenches. This 300 tons of blasted material will be hauled to Roxmark�s Northern Empire Mill next spring. An estimated additional 350 to 450 tons of material will also be extracted from the trenches at that time to be treated at the mill.
This molybdenum program was supervised by Peter Bevan, P. Eng., who is the Qualified Person for the information contained in this news release and within the meaning of NI 43-101. The program utilizes a Quality Assurance/Quality Control Program consistent with NI 43-101 and best industry practice. The samples are recorded, bagged and sent out to Actlabs Group of Companies and to S.G.S. Lakefield Research Limited, both accredited mineral analysis laboratories, for preparation and analysis.
The Nortoba-Tyson property, containing both molybdenum and gold mineralization, is located 26 km from the Town of Beardmore, approximately 200 km northeast of Thunder Bay and serviced by the Trans-Canada Highway. Accessibility of all Roxmark properties including the Leitch Gold Mine, once Canada�s richest, is a strong advantage.
Certain Roxmark holdings in the Geraldton Camp are under option agreement to Premier Gold Mines Limited (TSX-PG) which has incurred more than $6.1 million in exploration expenditures since September 2007. Additionally, several properties are being acquired by Premier to be included in the joint venture known as the Geraldton Project. (For more details see Roxmark�s news release dated October 23, 2008).
Roxmark�s holdings are located in the Beardmore-Geraldton greenstone belt, a highly prospective high-grade gold district that has seen relatively little exploration over the past several decades. The belt has historic production of more than 4.1 million ounces of gold.
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. The belt is a highly prospective high-grade gold district that has seen relatively little exploration over the past several decades. The belt has historic production of more than 4.1 million ounces of gold. In the last several 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
Toronto: Tel.: (416) 644-2020 Fax: (416) 644-2021 www.renmarkfinancial.com |
Montreal: Tel.: (514) 939-3989 Fax: (514) 939-3717
|
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