A PDF of the EM contour is available via email if
interested and it will be on thewebsite by the end of the week.
AIRBORNE GEOPHYSICS DELINIATES
MULTIPLE EM CONDUCTORS ASSOCIATED WITH STRUCTURE AND MINERALIZATION
Vancouver,
B.C. (November 19, 2007) Roxgold Inc. (TSX.V: ROG) (“Roxgold” or “the
Company”), has received the final report on an airborne geophysical survey
flown August 28 to 30, 2007 by Aeroquest International Inc. The survey was
comprised of 564 line kilometers of time domain EM and high sensitivity
magnetometer flown at 100 meter line spacing.
The EM component of the survey was successful in defining a number
of potentially significant conductors. The most noteworthy of which is a 2.3
km long north – south conductor that underlies the southern half of the topographic
circular feature interpreted to be an uplifted block caused by an intrusion.
Two other EM anomalies correlate with soil geochemistry that was the basis for
2007 diamond drilling. Finally two additional conductors of note lie to the
south east beyond the limits of historical exploration. The magnetic
variability was very discrete with a property wide range of 110 nT (nanoTesla),
however several subtle trends parallel to regional stratigraphy were
identified. All 2007 exploration, including trenching and drilling was
completed prior to the receipt of the geophysical survey results.
The northern end of the
2.3 km north-south EM conductor appears to be centered under the core of the
circular uplifted block believed to be related to a buried intrusive. Drilling
on the eastern side of the property during 2007 season focused on a soil geochemistry
anomaly approximately 300 meters northeast of this EM conductor. As noted in
the Company’s press release of September 13, 2007, several holes on the
East side target area intersected wide intervals (~200 meters) of moderate to strongly
sericitic altered monzonite that had been cut by numerous narrow quartz veins.
Locally the veins contain strong sulphide mineralization; predominantly pyrite
+/- arsenopyrite, pyrrhotite, sphalerite, chalcopyrite. The monzonite has
been interpreted to be a sill indicating the main body of the intrusive was not
intersected during 2007 drilling. The strength of this north-south EM anomaly,
its abrupt truncation and close proximity to both the intrusive hosted
mineralization encountered in the 2007 drilling and gold-in-soil geochemical
anomaly make this a priority target for the 2008 exploration program. Well
mineralized float boulders, including one approximately two thirds of a cubic
meter grading 10 g/t gold, 25 g/t silver and 3.4% zinc, have been found just
down-ice of this conductor. This linear EM anomaly extends a further 1500
meters southeast beyond the limits of the soil geochemistry grid
On the west side the
airborne survey defined a 2.4 km long EM anomaly oriented approximately 340
degrees that appears to be a splay off the above north-south conductor. This
conductor is parallel to the 2.2 km long gold – arsenic soil geochemical
anomaly. Trenching and drilling during the 2007 exploration program exposed
multiple parallel graphitic horizons that coincide with the northern terminus
of the EM anomaly with quartz sulphide veining, quartz breccia and stockwork
mineralization (see press release of November 6 2007) in association with
graphite. This mineralization plots on the western flank of the north end of
the EM conductor. To date, this EM conductor has only been evaluated at two
locations: through trenching and drilling at the very northern end of the
anomaly at 19800N – 21000E and through trenching at the approximately the
mid point of the conductor some 1200 m south at 18600N – 21300E. Significant
arsenopyrite mineralization in an altered and strongly silicified sedimentary
unit was exposed over 250 meters of strike length south of the 18600N –
21300E area.
Trenching and drilling of
the east side targets during 2007 (holes 07 – 14 through 07 – 18) was
based upon gold-in-soil geochemistry anomaly. Subsequent plotting of these
holes indicates they were collared on the western margin of an EM conductor
interpreted to be narrower and weaker in magnitude than the major north-south
conductor noted above. Holes 17 through 18 which passed through the intrusive
into the underlying meta-sediments, were terminated prior to reaching the EM
conductor. Hole 15, which intersected a mineralized quartz sulphide zone near
the bottom of the hole may have drilled to sufficient depth to reach the
conductor, depending upon the depth of the conductor.
Several other significant
conductors were identified in the course of the geophysical survey. Two of
these have strong EM signatures and one has an associated magnetic anomaly that
is the strongest encountered in the survey. Both of these targets lie outside
of the soil geochemistry grid, are located in areas of dense forest cover and
have never been the subject of systematic exploration. Initial grid based
prospecting and soil sampling will cover these targets early in the 2008
exploration program.
“The EM conductors correlate well with historic
gold-arsenic soil geochemistry anomalies helping to refine current drill targets
as well as developing new targets beyond the limits of historic exploration,”
commented Alan Raven president of Roxgold. “Certainly the major
conductor in the immediate vicinity of the intrusive hosted mineralization
encountered during 2007 drilling is a very exciting target that will be
evaluated early in the 2008 program.”
Independent consulting geologist Brett LaPeare,
MAusIMM, a qualified person as defined by National Instrument 43-101, has
reviewed the information contained herein.
Roxgold
Inc.
Per: Alan Raven
President & CEO
The TSX
Venture Exchange has not reviewed, and does not accept responsibility for the
accuracy or adequacy of this release
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Roxgold Inc.
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EXPLORATION STAGE |
CODE : ROG.V |
ISIN : CA7798992029 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Roxgold is a gold exploration company based in Canada. Roxgold holds various exploration projects in Canada. Its main exploration properties are YARAMOKO in Burkina Faso and TJ RIDGE in Canada. Roxgold is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 494.0 millions as of today (US$ 370.5 millions, € 344.8 millions). Its stock quote reached its lowest recent point on December 05, 2008 at CA$ 0.01, and its highest recent level on March 09, 2012 at CA$ 2.27. Roxgold has 371 440 000 shares outstanding. |