Roxmark Mines Ltd - begin Gold drilling program at Northern Empire Gold & Moly Mine -
Roxmark to begin Gold drilling program at Northern Empire Mine - and Nortoba-Tyson - continues to evaluate molybdenum production - Tuesday May 8, 8:00 am ET TORONTO, May 8 /CNW/ -
Roxmark Mines Limited - (TSXV:RMK) announces that Phase 1 of a surface diamond - drilling program is to begin within a few days on its - Northern Empire Mine; property near Beardmore, Ontario.
The program-based on the results of extensive digitization - of historic data and 3-D modelling of - Roxmark properties - carried out in 2006-will primarily involve infill holes - in the Power and Contact Zones, both in the eastern extension - of the Main Vein located 2,300 to 3,000 feet east - of the shaft.
Planned are 25 holes totalling 2,320 metres (7,612 feet), of which 22 are intended to confirm historical resources of 65,969 tons (grading 0.47 oz/t for a total of 30,780 ounces of gold) estimated above the diabase sill - in 1999 by Peter Bevan, Consulting Geologist.
The estimate is not compliant with NI 43-101. The other three holes will test the Temiskaming Contact Zone - about 400 feet to the north.
Historically, the Northern Empire Mine - produced 149,000 ounces of gold from 426,000 tons of ore.
The mine was serviced by a 2,640-foot shaft - which would be utilized by Roxmark - to develop extensions or parallel occurrences.
In addition, the Company has upgraded the onsite - 200 ton-per-day fully-permitted Northern Empire Mill - to efficiently process both Gold and Molybdenum ores.
The second phase of the program, planned for later this year, will include diamond drilling to explore several - promising gold veins on the Nortoba-Tyson - molybdenum property.
Historical bulk sample results show - that 135 tons extracted at Nortoba in 1964 - produced 139 ounces of Gold - an average of 1.03 ounces of Gold per ton. (Geological Report 122 of the Ministry of Northern Development and Mines, 1975, Mackasey).
Several grab samples taken by Roxmark - in 2006 from the bottom of the previous bulk sample area - assayed at values ranging from 0.17 to 7.64 oz/t.
In 2007, Roxmark - will also be working to establish the commercial viability - of molybdenum production at Nortoba-Tyson - before moving underground.
This will involve additional work at surface to further - delineate the nature, size and accessibility of - the molybdenite vein as well as an investigation - of production techniques that could minimize dilution - of ore delivered to the mill.
"We continue to be optimistic - about prospects for early production of Gold - and Molybdenum from our properties," said Monir Younan, President.
"We will be assessing next steps on both fronts - on completion of the current field program."
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 the last two years, Roxmark has generated cash flow - from bulk-sampled Gold and Molybdenum - processed at its mill and has the advantage of infrastructure - from six formerly highly productive Gold mines - located on its properties.
These mines previously produced nearly two million ounces of Gold - from high grade ore but were closed primarily due to dramatically lower gold prices at the time and to boundary issues, since eliminated.
Roxmark's 12 properties total nearly 400 claims and leases covering 14,700 acres and include Nortoba-Tyson, an important new high grade gold/molybdenum project.
The Nortoba-Tyson property has historical reserves; - of 72,000 tons grading 1.73% MoS2 (molybdenite) - estimated in 1958 to a depth of 375 feet; however diamond drilling in 2005 extended - the strike length and encountered Moly - at a depth of more than 1,000 feet.
Further information is available on the Company's website at www.roxmark.com and on SEDAR under the Company's profile at www.sedar.com.
Forward-Looking Statements This news release includes certain "forward-looking statements". --- not guarantees of future performance and accordingly undue reliance should not be placed on such statements due to the inherent uncertainty therein.
For further information
Monir Younan, President,
Roxmark Mines Limited, 801-80 Richmond St. West Toronto, Ontario, M5H 2A4
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