Wednesday, June 24, 2009

Roxmark discovers high-grade gold in new structures at Northern Empire Mine Property. RMK.v,, CDNX, TSX, HUI, XAU

It looks like finally we are having break out upside from our Cup and Handle formation on Roxmark Mines RMK.v as well. In our Canada Gold M&A play we have another incentive for Premier Gold to take this company out:

"TORONTO, June 24 /CNW Telbec/ - Roxmark Mines Limited (TSXV-RMK) today announced that a trenching program on one of two newly delineated structures on the Northern Empire Gold Mine property has discovered gold content of up to 36.40 g/t in channel samples assayed to date.
The new structures, parallel to the Power and Contact Zones, were outlined in a 2008 High-Resolution Aeromagnetic (HRAM) airborne geophysical survey.
So far, the zone of the main structure has been stripped for 500 metres of the 1.50 kilometres of indicated strike length. Trenches are being mapped and channel sampled for assaying. The exposed zone, comprised of three distinct veins, is up to 10 metres wide and contains highly mineralized, disseminated arsenopyrite, pyrite and chalcopyrite. It lies 240 metres south of and parallel to the NI 43-101 resource outlined in a report dated 2007 and updated in November 2008. Roxmark has filed on SEDAR the Technical Qualifying Report for the Northern Empire Gold Mine, in accordance with NI 43-101 regulations.
A diamond drilling program of up to 5,000 metres will be undertaken beginning in August, following completion of the trenching and sampling of the two structures.
Selected highlights of the current sampling program are detailed below.

Peter Bevan, P. Eng., consulting geologist, 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. Assay results are from 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 Northern Empire Mine is located in the Town of Beardmore, approximately 200 km northeast of Thunder Bay and serviced by the Trans-Canada Highway and was operated successfully by Newmont Mines from 1934 to 1941. The mine was serviced by a shaft to a depth of 2,460 feet and produced 149,000 ounces of gold from 426,000 tons of ore at a recovered grade of 0.35 oz/t Au. The on-site 200TPD mill (expandable to 500TPD) was built in 1982 and upgraded and permitted by Roxmark.
"These are early results, but we are pleased with both the quality and location of this new gold bearing structure," said Monir Younan, Roxmark President. "Proximity to established resources could be a distinct advantage in our development planning for the Northern Empire Mine."
"We will be very interested to see results from the other new structure, which lies a further 200 metres to the south," Younan added.
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 addition to the Hardrock Project in the Geraldton Camp, Roxmark is pursuing a number of initiatives in the Beardmore Camp, including re-opening the Northern Empire Mine and its onsite mill and expanding the resource base at the Leitch-Sand River Mine. In recent 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 nine formerly highly productive gold mines located on its properties. These mines previously produced nearly four million ounces of gold from high-grade ore but were closed primarily due to boundary issues and dramatically lower gold prices at the time.
Further information is available on the Company's website at**http%3A// and on SEDAR under the Company's profile at**http%3A//"

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