Roxmark options Placer property

Junior Roxmark Mines (TSE) can acquire Placer Dome’s (TSE) Key Lake gold property in Ontario’s Lindsey Twp.

Previously, in an area referred to as the East pit, Placer drilled two vertical holes, 250 metres east of the Jelex shaft, which intersected 3.06 grams per tonne over 32.6 metres and 2.41 grams over 32.1 metres, respectively.

In addition, another zone, east of the East pit, was discovered. Vertical holes drilled to a depth of 60 metres cut high-grade intersections associated with a siliceous stringer zone. Two assays from this area averaged 21.13 grams over 1 metre and 22.1 grams over 1.7 metres.

Roxmark can acquire the 26-claim property, subject to total net smelter return royalties of 4.25%, by spending $200,000 on exploration over two years. The company will drill vertical holes in a grid pattern east of the East pit to define a resource to the 69-metre level.

With the acquisition, Roxmark now either owns or controls 3,505 hectares in the Geraldton-Long Lac area.