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Roxmark Mines today announced upcoming plans
on some of their gold properties.
As we mentioned in our update last month
, "With the only operational and permitted mill in the area, and with a huge amount of existing infrastructure, Roxmark is much closer to production than any other juniors in the area." Indeed, Roxmark plans to re-open the Northern Empire Mine in late 2008. The Northern Empire Mine was operated successfully by Newmont Mines from 1934 to 1941, when gold was fixed at $35/oz. Now, with their recent drilling showing grades higher than when Newmont operated the mine, with gold over $800/oz, and with their onsite mill and existing underground workings, Roxmark should be able to quickly put the Northern Empire Mine back into production at minimal cost.
While they prepare the Northern Empire Mine for reopening, Roxmark is also planning a winter drilling program on the still undrilled 1,200 meter known strike length on the west extension of the Contact Zone at the Northern Empire property. Work is also planned for 2008 on the Leitch Gold Mine (once Canada's richest gold mine) and the Nortoba-Tyson property (a new source of gold and molybdenum), including "drilling of promising gold showings at the Nortoba-Tyson property."
Meanwhile, with Roxmark focused on the aforementioned properties, their joint venture partner Premier Gold
is actively drilling on Roxmark's former-producing gold mines in the Geraldton Camp. Premier would like to quickly prove up the gold deposits there to quickly move those mines back to production in order to earn their joint venture interest. The local news had a story earlier this month on Premier's efforts: http://www.tbsource.com/Localnews/index.asp?cid=101750
To get the word out to investors, Roxmark has scheduled a road show in Montreal, Mississauga, and Toronto next week. Here are the details on this road show: http://www.renmarkfinancial.com/en/clients/file/?idClient=179&idCategory=2
As we explained last month
, the Geraldton-Beardmore area has received a lot of interest recently, with Kodiak Exploration (KXL in Canada), Sage Gold (SGX in Canada), Ontex Resources (ONT in Canada), Mantis Minerals (MINE on the CNQ in Canada, MNTCF in the U.S.), and others all attracting a lot of investor attention with their promising gold exploration. With all of their programs in the works over the next year, Roxmark is well positioned to be the first in the area to realize profits from all this excitement.
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