Another great results from Premier Gold PG.to from Roxmark Mines RMK.v Hardrock project:19.03 g/t Au across 11.3m and 6.63 g/t Au across 28.1m.
Deposit is shaping very nicely with high grade core, 4 drills are turning fast and resource estimation will be by the year end.
We saw last two days interesting technical formation in Gold stocks, which could lead to bullish reversal from recent correction. TA on Roxmark Mines is very strong now: Cup and Handle bullish formation, Slow STO at Buy, RSI and MACD are neutral - any buying pressure will bring break out from this consolidation phase.
Roxmark reports high-grade gold intersections at EP and SP Zone targets of Hardrock Project
On Wednesday June 17, 2009, 5:25 pm EDT
On Wednesday June 17, 2009, 5:25 pm EDT
19.03 g/t Au across 11.3m and 6.63 g/t Au across 28.1m
TORONTO, June 17 /CNW Telbec/ - Roxmark Mines Limited (TSXV-RMK) today announced that ongoing drilling by Premier Gold Mines Limited (TSX-PG) as operator continues to define significant gold mineralization in multiple zones at the Company's Hardrock Joint Venture Project in the Geraldton camp, Northwestern Ontario. The current program, consisting of delineation and exploration drilling, will continue throughout 2009 and is expected to result in an NI 43-101-compliant resource estimate by year end.
Drilling at the EP Zone continues to exceed expectations with recent step-out and infill holes returning some of the best results received to date. The first three holes drilled to test the South Porphyry Zone ("SP") have all returned high-grade gold mineralization within multiple zones.
Highlights from recent drilling include:
<< - EP Zone: 5.21 grams per tonne gold (g/t Au) across 37.0 metres within the North Limb - 19.03 g/t Au across 11.3 metres in step-out drilling on the South Limb - SP Zone: 6.63 g/t Au across 28.1 metres within the SP Zone underground target 36.22 g/t Au (1.06 oz/ton) across 2.2 metres within the HGV Zone target. >>
Roxmark has a 30% carried interest in the Hardrock Project. The Hardrock Project is host to several past-producing mines which collectively produced nearly 3.0 million ounces of gold within 600 metres of surface from 1938-1968. Early drilling in 2009 focussed on open pit-style mineralization and is now targeting the huge potential to expand higher grade mineralization amenable to efficient underground mining methods. Historically at Hardrock, little effort was made to define narrow vein, high grade mineralization as bulk mining methods were used to extract the ore.
EP-Zone
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The EP-Zone has been identified as a potential high-grade open pit target in the vicinity of the historic North Zone, from which 2.97 million short tons of ore were mined at a recovered grade of 0.22 ounces per ton gold (7.54 g/t Au). Drilling has intersected mineralization in multiple sub-zones within the EP target over a strike length of 600 metres.
Previous highlights include 7.60 g/t Au across 20.5 m in hole EP044, 2.37 g/t Au across 62.7 m in hole EP026, and 4.17 g/t Au across 29.0 m in hole EP053. New results, that include 6.66 g/t Au across 14.0 m in hole EP074, 5.21 g/t Au across 37.0 m in hole EP079, and 19.03 g/t Au across 11.3 m in hole EP080 continue to define and expand mineralization within the EP target area." More
Drilling at the EP Zone continues to exceed expectations with recent step-out and infill holes returning some of the best results received to date. The first three holes drilled to test the South Porphyry Zone ("SP") have all returned high-grade gold mineralization within multiple zones.
Highlights from recent drilling include:
<< - EP Zone: 5.21 grams per tonne gold (g/t Au) across 37.0 metres within the North Limb - 19.03 g/t Au across 11.3 metres in step-out drilling on the South Limb - SP Zone: 6.63 g/t Au across 28.1 metres within the SP Zone underground target 36.22 g/t Au (1.06 oz/ton) across 2.2 metres within the HGV Zone target. >>
Roxmark has a 30% carried interest in the Hardrock Project. The Hardrock Project is host to several past-producing mines which collectively produced nearly 3.0 million ounces of gold within 600 metres of surface from 1938-1968. Early drilling in 2009 focussed on open pit-style mineralization and is now targeting the huge potential to expand higher grade mineralization amenable to efficient underground mining methods. Historically at Hardrock, little effort was made to define narrow vein, high grade mineralization as bulk mining methods were used to extract the ore.
EP-Zone
-------
The EP-Zone has been identified as a potential high-grade open pit target in the vicinity of the historic North Zone, from which 2.97 million short tons of ore were mined at a recovered grade of 0.22 ounces per ton gold (7.54 g/t Au). Drilling has intersected mineralization in multiple sub-zones within the EP target over a strike length of 600 metres.
Previous highlights include 7.60 g/t Au across 20.5 m in hole EP044, 2.37 g/t Au across 62.7 m in hole EP026, and 4.17 g/t Au across 29.0 m in hole EP053. New results, that include 6.66 g/t Au across 14.0 m in hole EP074, 5.21 g/t Au across 37.0 m in hole EP079, and 19.03 g/t Au across 11.3 m in hole EP080 continue to define and expand mineralization within the EP target area." More
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