Roxmark Mines Limited, Toronto ON, TSX.V : RMK., is the leader in gold and molybdenum exploration and development in the prolific and historically significant Geraldton-Beardmore area of Northwest Ontario.
Currently, Roxmark is planning to re-open the Northern Empire Mine based on exciting results of 2007 and 2008 diamond drilling programs, encouraging geological assessments in a 43-101-compliant Qualifying Report, and cost advantages of existing infrastructure, including an onsite mill.
Roxmark’s 15 properties cover 14,700 acres and include, in addition to the Northern Empire, five other formerly highly productive gold mines and Nortoba-Tyson, an important new molybdenum/gold project with high grade gold showings and extensive moly resources.
The six gold mines produced nearly two million oz. from high grade ore (three mines in the Beardmore camp produced more than 1 million ounces of gold at an average recovered grade of 0.70 oz Au/ton), but were closed primarily due to a $35 gold price and boundary issues Roxmark has eliminated by consolidating land holdings.
These mines offer existing infrastructure above and below ground which will reduce the cost and speed the pace of future development.
Ongoing programs accelerate gold, moly development:
In 2007 and 2008, Roxmark completed important diamond drilling programs at the Northern Empire Mine (which produced nearly 150,000 oz of gold) in the Beardmore Camp, following up on previous promising drilling. 2007 results released in a 43-101 report, indicate resources grading 0.42 oz of Au/T.
Additional lands along strike and with gold showings have been aquired and surface mapping and exploration is underway. The nearby 200-TPD gold and moly mill has been extensively upgraded.
A Joint Venture agreement with Premier Gold has spurred a three-rig drilling program on Roxmark lands in the Geraldton Camp--with very exciting results.
Roxmark is further delineating moly resources at Nortoba-Tyson and assessing production techniques. Promising gold showings at N-T are also being assessed
Over the past five years, Roxmark has:
For 2009, Roxmark has raised $1.35 million to support an active diamond drilling program which will further delineate gold resources at The Northern Empire and Nortoba-Tyson, following up on previous years' drilling and a promising aerial magnetometer survey carried out late in 2008.
The Company is also assessing new strategic mining approaches to reduce the cost and improve the payback of initial underground development at The Northern Empire.
In addition, Roxmark is an active participant in The Hardrock Project, a joint venture with Premier Gold Limited to develop a number of Geraldton Camp properties.
In 2009, as operator, Premier will be spending an estimated $8 million dollars to carry out a 50,000-meter drilling program directed at establishing threshold resources for early commercial development of both open-pittable and underground resources.
Beardmore Molybdenum and Gold Project
Beardmore Gold Properties
Geraldton Gold Properties