Drilling planned on Roxwell project

Drilling should start this February on Roxwell Gold Mines’ MOS project 50 miles northwest of Yellowknife, N.W.T. The property falls under an option agreement with Canamax Resources.

Canamax can earn a 66.6% interest in the project by spending $1 million and completing a minimum 3,000-ft drill program by December, 1987. After that, the project will become a true joint venture with each party contributing its respective share of exploration funding. Roxwell can be reduced to 15% by not participating.

Airborne geophysics is planned over the entire property and a drill contract has already been signed for the February program. No drilling or geophysics have been done on the property except in the immediate area of the main zone, notes Roxwell.