Roxmark mobilizes drill rig to test Nortoba-Tyson gold mineralizationadmin
Monday, August 25th 2008
Roxmark Mines Limited announced that a drill rig has been mobilized and that a program of surface diamond drilling will begin immediately at the Company’s Nortoba-Tyson property in the Beardmore Camp.
The proposed drill program is based on results of 2007 geological mapping and prospecting, in conjunction with trenching and channel sampling of gold veins located on the property. At least three gold veins (including veins no. 1 and 1A, 2 and 7) were outlined in the 2007 exploration program as well as through historical work.
Historical bulk samples from the No. 1 and 1A gold veins show that 135 tons extracted at Nortoba-Tyson in 1964 produced 139 ounces of gold, an average of 1.03 ounces per ton. (Geological Report 122 of the Ministry of Northern Development and Mines, 1975, Mackasey). These historic data are not compliant with NI 43-101.
Several grab samples taken by Roxmark in 2006 from the bottom of the previous bulk sample area assayed at values ranging from 5.83 to 261.95g/t Au (0.17 to 7.64 oz/t.Au). In 2007, several channel samples were taken from veins No. 1, 1A and 2 and assayed with individual samples from the veins containing up to 13.30 g/t of gold. Gold mineralization of vein No. 2 extends at least 350 metres along strike and remains open.
Work completed to date on the gold veins has been 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.
“We are excited about further assessing gold veins at The Nortoba-Tyson molybdenum property, located near our Leitch and Northern Empire Mines and the fully permitted Northern Empire mill.” said Monir Younan, President.
The Leitch Mine, once Canada’s richest, hosted historical production of 860,648 ounces of gold from 906,395 tons of ore at a recovered grade of 31.54 g/t Au (0.92 oz/t Au). The Northern Empire Mine produced 149,000 ounces of gold from 426,000 tons of ore at a recovered grade of 0.35 oz/t Au.
The Beardmore Camp is situated near the Town of Beardmore, approximately 200 km northeast of Thunder Bay and is serviced by the Trans-Canada Highway. Accessibility of all Roxmark properties in both Beardmore and Geraldton Camps is a strong cost and logistical advantage.
Roxmark Mines Limited is the leader in gold and molybdenum exploration and development in the historically significant Geraldton-Beardmore area of Northwest Ontario. In recent years, Roxmark has generated cash flow from bulk-sampled gold and molybdenum processed at its 200 TPD (expandable to 500 TPD) 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.