Roxmark ships 7.23 tons of Mo concentrate to Europe -
2007-01-16 14:55 ET - News Release
Mr. Monir Younan reports
ROXMARK SHIPS MOLY CONCENTRATE MILLED FROM NORTOBA-TYSON BULK
SAMPLE, RECEIVES PERMITS FOR UNDERGROUND DEVELOPMENT
Roxmark Mines Ltd. has shipped to a European buyer 7.23 tons
of 54.3 per cent molybdenum concentrate from ore bulk
sampled on the Nortoba-Tyson property and processed to
exceed the industry's 50-per-cent standard for concentrate
at the company's fully permitted Northern Empire mill.
The shipment, equivalent to more than 7,200 pounds of
molybdenum oxide, is valued at an estimated $190,000 net
of roasting fees.
The company is in the process of analyzing in detail
the results of the bulk sampling program, which delivered
just over 2,030 tons of molybdenum ore to the mill,
before deciding on future steps for molybdenum development.
Plans for 2007 currently call for extracting a 6,000-ton
bulk sample from underground at Nortoba-Tyson.
All necessary permits have been received for such a program.
A diamond drilling program is also being planned to further
explore several gold veins on the Nortoba-Tyson property.
Historical bulk sample results show that 135 tons extracted
in 1964 yielded 139 ounces of gold, an average of 1.03 ounces
of gold per ton (Geological Report 122 of the Ministry of
Northern Development and Mines, 1975, Mackasey).
During 2006, several grab samples taken by Roxmark from
the bottom of the previous bulk sample area yielded
Gold values ranging from 0.17 ounce per ton to 7.64 ounces
per ton.
"Production of moly through our mill was an important
milestone for Roxmark," said Monir Younan, Roxmark president.
"Given that this was our first experience working with moly
ore, results were encouraging.
However, we are looking at ways to increase yield
through improved mining and milling techniques as well
as taking an in-depth look at a number of broader
issues before deciding on next steps."
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