Roxgold keeps on keeping on........... ...................... ........................
I guess one could like this company, if the grades weren't so low!
Re: News Release - Tuesday, August 27, 2013
Title: Roxgold Announces an Updated Mineral Resource Estimate for the 55 Zone Ahead of Upcoming PEA Study
Toronto, Ontario - August 27, 2013 - Roxgold Inc. ("Roxgold" or "the Company") (TSXV: ROG) is pleased to announce an updated resource estimate for the 55 Zone deposit located on its 100% owned Yaramoko exploration permit in Burkina Faso. The resource estimate is based on 99,077 metres of drilling and was prepared by AGP Mining Consultants Inc. ("AGP") in accordance with National Instrument 43-101 ("43-101") Standards for Disclosure of Mineral Properties. Roxgold is currently completing a Preliminary Economic Assessment ("PEA") on the 55 Zone that will demonstrate a potential economic case for extraction of gold at the 55 Zone.
HIGHLIGHTS
An Indicated Resource of 850,000 gold ("Au") ounces estimated using a 3.0 gram per tonne ("gpt") cut-off grade - a 143% increase in ounces compared to the Maiden resource estimate dated August 7, 2012*
"This is an encouraging step forward for Roxgold, as it provides us with a solid foundation on which to build," stated John Dorward, President and CEO of Roxgold. "The first leg of our strategy was to grow the deposit and illustrate the potential for increases above the initial 350,000* ounces within the indicated category. In just over a year, we have successfully delivered on this, increasing the ounces in the indicated category to 2.4 times the original estimate. In addition to this growth, the deposit remains open to future potential expansion at depth. I consider that this achievement places Roxgold in a strong position as we close in on completing the PEA. "
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