The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Marketwire

Roxgold Intersects 22.1 gpt Gold Over 3.96 Meters in 55 Zone Infill Drilling

Infill Drilling Continues to Intersect High Grade Mineralization Down Plunge

Tuesday, May 07, 2013

Roxgold Intersects 22.1 gpt Gold Over 3.96 Meters in 55 Zone Infill Drilling

10:32 EDT Tuesday, May 07, 2013

TORONTO, ONTARIO--(Marketwired - May 7, 2013) - Roxgold Inc. (TSX VENTURE:ROG) ("Roxgold" or the "Company") is pleased to announce results from the ongoing infill drilling program on the 55 Zone, at its 100% owned Yaramoko permit in Burkina Faso. Today's results continue to demonstrate the continuity of high grade mineralization throughout the 55 Zone.

HIGHLIGHTS

  • 22.1 grams per tonne ("gpt") gold over 3.96 meters in drill hole YRM-DD-13-266
  • 20.3 gpt gold over 3.17 meters within a wider intercept of 10.9 gpt over 7.2 meters in drill hole YRM-DD-13-270.
  • 53.7 gpt gold over 1.48 meters within a wider intercept of 18.8 gpt over 4.48 meters in drill hole YRM-DD-13-274
  • 16.2 gpt gold over 3.96 meters within a wider intercept of 10.8 gpt over 6.42 meters in drill hole YRM-13-DD-279

*All intercepts above are reported as core length, estimated true widths are reported in Table 1.

"The 55 Zone continues to yield strong, high grade, results as we progress with our current infill drilling program," commented John Dorward, President and CEO of Roxgold Inc. "We remain confident that the 55 Zone is open at depth and that further drilling will continue to yield high grade results."

Summary of Results

Hole ID + Zone Azi Dip Depth
From
Depth
To
Est.
Vertical
Depth
(m)
value
(g/t)
over
(m)
Est.
True
Width
YRM-13-DD-266 55 360 -61 738.5 742.46 640 22.1 3.96 2.13
YRM-13-DD-268 55 360 -60 NSR
YRM-13-DD-269 55 360 -54 513.8 516.55 330 3.5 2.75 2.23
YRM-13-DD-270 55 360 -59 652.55 659.75 540 10.9 7.20 4.11
including 654.78 657.95 20.3 3.17 1.81
and 676.33 686.23 4.4 9.90 5.65
including 682 686.23 7.3 4.23 2.42
YRM-13-DD-271 55 360 -51 NSR
YRM-13-DD-272 55 360 -58 NSR
YRM-13-DD-274 55 360 -49 504.77 509.25 380 18.8 4.48 3.74
including 504.77 506.25 53.7 1.48 1.24
YRM-13-DD-276 55 360 -59 534.2 536.32 435 6.7 2.12 1.34
YRM-13-DD-278 55 360 -59 510.18 512.55 420 16.2 2.37 1.47
YRM-13-DD-279 55 360 -61 709.34 715.76 620 10.8 6.42 3.73
including 709.74 713.7 16.2 3.96 2.30
Table 1: Results from current drilling (No top cut was applied to the assays. All intercepts are reported as down-hole lengths.)
+ Holes YRM-DD-13-267, YRM-13-DD-273, YRM-DD-13-275 and YRM-DD-13-277 were abandoned short of the target depth due to extreme deviations in azimuth. Targets for these holes will be retested from alternate sites.

All results released today are infill drill results from the 55 Zone. Mineralization intersected within these holes is consistent with other holes drilled into the 55 Zone. Gold is hosted within veins formed within brittley deformed granites and sheared mafic volcanics. Click here for a longitudinal section illustrating these results:

http://www.roxgold.com/i/pdf/YRM_55_LongSection_PR_May07.pdf

Roxgold continues to execute its current infill drilling program on the 55 Zone between 400 to 750 meters vertical depth. To date, 28 holes have been completed totalling 16,500 meters within the current infill program. Results from the infill program will be included in an updated resource estimate expected to be completed in the third quarter. The updated resource estimate will form the foundation of a preliminary economic assessment ("PEA") due to be released in September this year.

Qualified Person

Pierre Desautels, P.Geo, of AGP Mining Consultants Inc., a Qualified Person within the meaning of National Instrument 43-101 who is an independent consultant to the company, has verified and approved the data disclosed in this release. This includes the sampling, analytical and test data underlying the information.

Quality Assurance/Quality Control

Drill holes reported in this press release were drilled using HQ and NQ sized diamond drill bits. Company personal are located at the drill site. Contractors and employees of Roxgold conducted all logging and sampling. The core was logged, marked up for sampling using standard lengths of two meters outside of the "zone" and adjusted to lithological contacts up to one meter within the "zone". Samples are then cut into equal halves using a diamond saw. One half of the core was left in the original core box and stored in a secure location at the Roxgold camp within the Yaramoko area. The other half was sampled, catalogued and placed into sealed bags and securely stored at the site until it was shipped to either ALS Chemex in Ouagadougou or Actlabs in Ouagadougou ("The Labs"). The core was dried and crushed by The Labs and a 150 gram pulp was prepared from the coarse crushed material. The Labs then conducted routine gold analysis using a 50 gram charge and fire assay with an atomic absorption finish. Samples within the 55 Zone or samples returning over 5 grams per tonnes are additionally assayed using a metallic screen analysis in which a 1000 gram pulp is analyzed. The screening of samples produced two size fractions - less than 100 micrometres (um) and greater than 75 um. These fractions are then analyzed independently by fire assay and atomic absorption. Quality control procedures included the systematic insertion of blanks, duplicates and sample standards into the sample stream. In addition, The Labs inserted their own quality control samples.

About Roxgold

Roxgold is a TSX.V listed exploration and development company with its key asset, the 167 Km2 Yaramoko concession, located to the south of and contiguous to SEMAFO's Mana Project in the Houndé region of Burkina Faso, West Africa. Roxgold is focused on further exploring the Company's 100% owned Yaramoko permit and advancing the 55 Zone.

Forward Looking Statements

This news release may contain forward-looking statements. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements in this news release include statements that describe the Company's future plans for the exploration and development of the 55 Zone and regional exploration in 2013, the potential of the 55 Zone including its prospectivity at depth and the extensions of the mineralized area at depth, the objectives or goals of exploration programs, and timing of future announcements, and include words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Forward-looking statements are based on assumptions and address future events and conditions; by their very nature they involve inherent risks and uncertainties. The assumptions upon which forward looking statements in this news release are made include the reasonable assumptions of management with respect to the geologic model, that third party labs will continue to process assays at the current pace, results of exploration will warrant further work, and current macro-economic conditions will continue to prevail. Actual results relating to such future events and conditions could differ materially from those currently anticipated in such statements for many reasons such as: changes in management, changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

FOR FURTHER INFORMATION PLEASE CONTACT:

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information:
Roxgold Inc.
John Dorward
President and CEO
+1 416-203-6401
jdorward@roxgold.com
www.roxgold.com

Products
  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

GlobeLink.ca

Your number one partner for reaching Canada's Influential Achievers. learn more

The Globe at your Workplace
Our Company
Customer Service
Globe Recognition
Mobile Apps
NEWS APP
INVESTING APP
Other Sections