Roxmark Mines RMK.v: one of our Top Picks 2009 and Canada Gold M&A play - has been on fire today with advance of 45% during one day on volume of more than 6 mil shares. Results are coming better and better and now we can talk about high grade core in the shaping Gold deposit. The longer Premier Gold PG.to waits to take out 30% of the new Gold deposit - the higher Roxmark Mines RMK.v will go now with gold in decisive break out and growing deposit size.
Press Release
Source: Roxmark Mines Limited
On Monday September 14, 2009, 1:48 pm EDT
TORONTO, Sept. 14 /CNW Telbec/ - Roxmark Mines Limited (TSXV-RMK) today announced that ongoing drilling at the Hardrock Project by Premier Gold Mines Limited (TSX -PG) as operator has intersected a new and potentially high-grade gold structure located in close proximity to the EP (open pit) Zone. Several holes have intersected this new zone with grades up to 1,141.54 grams per tonne gold (g/t Au) or 33.33 oz/ton across 2.0 metres (m). In addition, ongoing drilling at the New North ('NN') Zone continues to define higher-grade, underground-style, gold mineralization. Roxmark has a 30% carried interest in the Hardrock Project.
High-Grade Intercept
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A new structure containing high-grade gold mineralization has recently been identified immediately north of the EP Zone, and in close proximity to existing mine workings. This new intercept is marked by high-grade, narrow vein-style, gold mineralization similar to several of the high-grade mines located in the Beardmore-Geraldton Greenstone Belt, including the Little Long Lac and Magnet Gold Mines located on the Hardrock Project.
Hole EP105 has returned one of the highest ever gold results from drilling in the entire district with an intersection of 1,141.54 g/t Au (33.33oz/ton) across 2.0m (6.6 feet) including 2,535 g/t Au (74.02 oz/ton) across 0.9m (3.0 feet). Several additional holes are believed to have intersected this structure, including OR005, located approximately 35 metres down-dip of EP105, which assayed 12.99g/t Au (0.38 oz/ton) across 1.5m (4.9 feet); EP107. located approximately 100 metres along strike to the east and up plunge EP105, with assays pending; EP108, located approximately 150 metres along strike to the east and up-plunge of EP105, with assays pending; EP064, located 50 metres along strike to the west, which assayed 20.10 g/t Au (0.59 oz/ton) over 0.7m (2.3 feet); and OR002, located 50 metres along strike to the west and down plunge, with assays pending. Detailed drilling of this new discovery is now underway.
"Intersecting such high-grade mineralization is always encouraging." stated Stephen McGibbon, Premier's Executive VP and COO. "We know that this camp has a history of high-grade mineralization and an intercept like this can have important implications for us if we can confirm some continuity to this structure."
NN Zone
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The NN Zone is located along strike from, and within, the same iron formation that hosted the North and West Zones at the historic mine. Numerous intercepts into the NN Zone have now defined a zone displaying similar grades over a plunge length of approximately 350 metres with intersections up to 8.25g/t Au (0.24 oz/ton) across 7.3m (23.9 feet).
During production, the North Zone was mined to a depth of 610 metres (2,000 feet) resulting in the recovery of 2.97 million tons with a recovered grade of 0.22 oz/ton (7.54g/t Au), while mining at the West Zone resulted in the recovery of 532,254 tons with a recovered grade of 0.23 oz/ton (7.85 g/t Au)."
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