ONTARIO - Even the Trans-Canada Highway can't hide good grades from a gold hunter. ROXMARK MINES of Toronto reports that its joint venture partner PREMIER GOLD MINES of Red Lake, Ont., has intersected a new high grade vein zone that included 67.08 g/t Au across 2.0 metres below the tarmac. The discovery was made at the Magnet Mine property near Geraldton.
Dubbed the 'Highway zone', the new discovery is indeed below the highway immediately south of the historic mine. The intersection reported above included a 1.0-metre section grading 125.44 g/t Au. Other drills holes that reached the Highway zone returned 6.28 g/t over 2.0 metres, 8.84 g/t over 1.0 metre, 10.06 g/t over 1.0 metre and 7.30 g/t over 4.5 metres. The last intersection included a 1.0-metre section that assayed 26.78 g/t Au.
The Magnet mine produced 152,000 oz of gold before it closed in 1988. The property has a shaft and winze to 805 metres. The headframe, production hoist, compressors, generator, hydroelectric substation, and other buildings and equipment remain at the site.
More information about Roxmark's properties in the Beardmore-Geraldton area is available at www.Roxmark.com.
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