"Apparently yesterday's halt of Roxmark Mines RMK.v was not because of a new very significant gold intersections by its J/V partner Premier Gold PG.to, but because of merger announced later between Roxmark Mines and Ontex Resources. One more of our Top Picks for this year is being bought. Consolidation in the former producing Canadian Gold district has begun."
Another impressive set of results from Premier Gold - operator of the J/V with Roxmark's share of 30%. After recent announcement about merger with Ontex results from Hardrock project will have to carry both companies - not a lot of value from Ontex side so far and its share price collapsed below 0.3CAD now. Management of Roxmark attempts to survive acquisition by Premier Gold, but now there is an opportunity to consolidate all former producing district with Roxmark's mill and Hardrock deposit shaping nicely in hopefully multi million OZ in the ground, Premier Gold is very aggressive and resource estimation promised by the end of the year. Below 0.2CAD this company will produce another entry point into this Gold Bull with recent pull back in gold.
TORONTO, Oct. 27 /CNW Telbec/ - Roxmark Mines Limited (TSXV-RMK) today announced that ongoing drilling by Premier Gold Mines Limited (TSX -PG) as operator continues to delineate multiple high-grade gold zones at the Hardrock Project in Northwestern Ontario. Highlights from recent drilling include additional high-grade intersections in the High Grade North (HGN) Zone and the discovery of near-surface high-grade vein-style mineralization in the New North (NN) Zone:
in the HGN Zone continues to define high-grade vein-style mineralization with new intercepts of up to 49.81g/t Au across 6.0m. - Drilling at the NN Zone has intersected near-surface high-grade vein-style mineralization with intersections of up to 39.15 g/t Au across 3.6m in addition to further defining potentially open pit-style mineralization along strike from the EP Zone. - Expansion drilling at the South Porphyry (SP) Zone continues to define high-grade mineralization with intersections of up to 15.68g/t Au across 3.4m. Recent drilling has discovered high-grade gold mineralization (HGN Zone) in close proximity to existing mine workings below and north of the main EP Zone. Mineralization has been intersected over a plunge length of approximately 200 metres where it remains open up and down plunge. New intersections including 49.81g/t Au (1.45 oz/ton gold) across 6.0m (19.7 feet) in hole EP119 complement previously released intersections of 1,141.54 g/t Au (33.33 oz/ton) across 2.0m (6.6 feet) in hole EP105 within the HGN Zone, 8.84g/t Au (0.26 oz/ton) across 7.0m (23.0 feet) in hole EP105 within the NL Zone and 12.5g/t Au (0.36 oz/ton) across 6.7m (22.0 feet) in hole OR007 within the NL Zone. New drill results from the HGN Zone are contained in the following table.
Recent near-surface holes drilled in the NN Zone, located along strike from (and west of) from the EP Zone, suggest the potential for defining open-pit resources with intersections up to 6.42g/t Au (0.24 oz/ton) across 22.4m (73.5 feet). Follow-up drilling continues to define broad zones of near-surface mineralization in addition to a new high-grade vein zone that has returned 39.15g/t Au (1.14 oz/ton gold) across 3.6m (11.8 feet) in hole MM048. New drill results from the NN Zone are contained in the following table.
Recent near-surface holes drilled in the NN Zone, located along strike from (and west of) from the EP Zone, suggest the potential for defining open-pit resources with intersections up to 6.42g/t Au (0.24 oz/ton) across 22.4m (73.5 feet). Follow-up drilling continues to define broad zones of near-surface mineralization in addition to a new high-grade vein zone that has returned 39.15g/t Au (1.14 oz/ton gold) across 3.6m (11.8 feet) in hole MM048. New drill results from the NN Zone are contained in the following table.
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