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Message: Roxmark

Roxmark

posted on Apr 15, 2009 01:35PM

Roxmark reports high-grade gold intersects 16.86 g/t across 5.5 m at Tenacity Hardrock Project

    TORONTO, April 15 /CNW Telbec/ - Roxmark Mines Limited (TSXV-RMK) today
reported that the drilling program being carried out on the Hardrock Project
joint venture in Geraldton, Northwestern Ontario by Premier Gold Mines Limited
as operator continues to return high-grade gold mineralization in the Tenacity
Zone, as well as high-grade narrow vein mineralization in a deeper target (KL
Zone).
    Results suggest that the Tenacity Zone may improve with depth as
confirmed by an intersection of 16.86 grams per tonne gold (g/t Au) across 5.5
metres (m) in the furthest down-plunge section drilled to date. Additionally,
drilling has confirmed high-grade gold in a deeper target beneath Tenacity
with intersections of 40.1g/t Au across 1.0m and 17.45g/t Au across 1.9m.

    <<
    Highlights of recent Tenacity drilling include:

      - Drilling suggests the potential to develop both open pit and
        underground resources with apparent improvement in grade and
        continuity down-plunge.
      - Exploration drilling (three holes) confirmed high-grade gold
        mineralization within a narrow vein target with intersections in
        excess of 17.14 g/t Au ((greater than)0.50 oz/ton).

    Follow-up drilling at Tenacity, as well as the testing of other target
areas, is ongoing.

    TENACITY ZONE
    -------------

    Drilling at the Tenacity Zone has confirmed the potential for both open
pit and underground-style gold mineralization. Drilling has defined open
pit-style mineralization over a strike length of approximately 400 metres and
is now testing for higher-grade mineralization that could be amenable to
mining from a ramp below the potential pit workings. Mineralization remains
open at depth with the strongest intersection being seen in hole TN025, the
first hole with assays from the western-most (down-plunge) section drilled to
date. Tenacity intersections of more than 20 metres have been visually
confirmed down-dip from hole TN025, which returned 16.86g/t Au across 5.5m.
    Follow-up drilling continues to intersect strong vein zones including
several occurrences of visible gold. Highlights from recent drilling are
presented in Table 1 (Note that holes TN013, 016, 017, 019, 021 and 023 were
drilled east of the main area under the ice with no significant intercepts):


    Table 1              Recent Tenacity Zone Intercepts
    -------------------------------------------------------------------------
              Grid               Inter-
             Coordi-     Dip/    section     Inter-  Inter-
    Hole     nates     Azimuth   From-To      val    val   Au      Au
     No.      (m)     (degrees)    (m)        (m)   (ft) (g/ton) (oz/t) Zone
    -------------------------------------------------------------------------

    TN018   505449 mE                                                   Tena-
           5502553 mN   -50/360  181.3-198.7  17.4  57.1   1.93   0.06  city
    -------------------------------------------------------------------------
    TN020   505449 mE                                                   Tena-
           5502456 mN   -50/360  322.3-323.7   1.4   4.6   3.97   0.12  city
    -------------------------------------------------------------------------
    TN022   505449 mE             98.8-111.2  12.4  40.7   2.36   0.07
           5502532 mN   -60/360                                         Tena-
                                 231.1-252.7  21.6  70.8   1.16   0.03  city
    -------------------------------------------------------------------------
    TN025    505400 mE                                                  Tena-
           55502556 mN  -50/360  192.0-197.5  5.50 18.00  16.86   0.49  city
    -------------------------------------------------------------------------
    (*) True widths estimated at approximately 70% of intersection widths


    KL ZONE
    -------

    Three holes have successfully tested a high-grade narrow vein target (KL
Zone) below the main Tenacity Zone. This drilling confirms the potential to
define high-grade underground gold mineralization and the zone remains open,
both up and down-plunge.
    Follow-up drilling to test for extensions of the KL Zone has started.
Highlights from this drilling are profiled in Table 2.


    Table 2 Recent KL Zone Intercepts
    -------------------------------------------------------------------------
             Grid                   Inter-
            Coordi-       Dip/     section
    Hole    nates       Azimuth    From-To  Int.  Int.   Au      Au
     No.     (m)       (degrees)     (m)     (m)  (ft)  (g/t) (oz/ton)   Zone
    -------------------------------------------------------------------------
    TN012   505749N    -50/360               1.9   6.2  17.45   0.51  KL Zone
           5502617E
    -------------------------------------------------------------------------
    TN014   505749N    -70/360      Assays                VG          KL Zone
           5502617E                 Pending
    -------------------------------------------------------------------------
    TN015   505648N    -45/360               1.0   3.3  40.20   1.17  KL Zone
           5502605E
    -------------------------------------------------------------------------
    (*) True widths estimated at approximately 70% of intersection widths


    These results in both the Tenacity and the KL Zones demonstrate continuity
and grade, supporting the Operator's belief that historic and new results will
be utilized in a NI 43-101 compliant resource calculation, which is expected
to be completed in Q4 2009. The current program at Hardrock Project is
expected to consist of more than 50,000 metres of definition and exploration
drilling.
    Importantly, the Hardrock Project has the potential for defining several
styles of mineralization capable of hosting resources, with grades and widths
similar to many of Ontario's major gold mines including:

    1) Open pit-style mineralization with grades exceeding 1.5 g/t Au
       (Timmins, Hemlo)
    2) Broad zones of mineralization with grades averaging 5.0+ g/t Au
       (Musselwhite)
    3) Narrow vein zones with higher gold grades often exceeding 7.0g/t
       (Red Lake, Pickle Lake).
    >>

    The Project is operated by Premier Gold Mines Limited (TSX-PG) under a
joint venture in which Premier is earning a 70% interest and Roxmark has a 30%
carried interest The Hardrock Project is host to several past-producing mines
which collectively produced more than 2.0 million ounces of gold from the same
deposits to shallow depths of some 2000 feet (600 metres) from 1938-1968. The
mined zones remained open at depth at the time mining ceased and developed
historical resources were left in place within the existing mine workings. (A
qualified person has not done sufficient work to verify the historical
resource, the Company is not treating the historical resource as a current
resource and the historical resource should not be relied upon).
    Initial drilling is focusing on delineating both open pit and underground
resources with the goal of defining a multi-million ounce gold resource that
can be moved quickly towards development (see references to historical
resources above.). The Project offers development advantages with the
Trans-Canada Highway, TransCanada Pipeline, and major power lines running
through or located proximal to the property. Significant potential exists for
developing resources in several areas including: open pit-style mineralization
at the site of the original discovery where a resource containing several
hundred thousand ounces of gold was partially drilled off by previous
operators; several newer high-grade discoveries that have been made throughout
this large property package that have received little to no follow-up;
resource blocks reported to remain within the mine workings; and the main
mined zones which remain open below the 600 m level.
    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. The assay results presented are from core samples
sent to Activation Laboratories, an accredited mineral analysis laboratory in
Thunder Bay, Ontario, for preparation and analysis utilizing both fire assay
and screen metallic methods.

    The Hardrock 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 
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