Roxgold Announces Results for Metallurgical Testwork Drilling
TORONTO, ONTARIO -- (Marketwired) -- 05/02/13 -- Roxgold Inc. (TSX VENTURE: ROG) ("Roxgold" or the "Company") is pleased to announce results from metallurgical drilling at its 100% owned Yaramoko Permit in Burkina Faso.
HIGHLIGHTS:
-- 29.73 grams per tonne ("gpt") gold over 28.8 meters in metallurgical
test hole, YRM-13-MET-01
-- 27.62 gpt gold over 7.3 meters in metallurgical test hole, YRM-13-MET-05
"The results from the metallurgical test holes released today are in line with what we expect from the 55 Zone," stated Paul Criddle, COO of Roxgold Inc. "Hole YRM-13-MET-01 provides confirmation as to the continuity of grade over an approximately 25 meter vertical slice through the deposit. Results such as these continue to validate our confidence in the 55 Zone and we look forward to conducting the next phase of test work as part of our Preliminary Economic Assessment."
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Est.
Vertical
Depth Depth Depth Value Over
Hole ID Zone Azi Dip From To (m) (g/t) (m)
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Metallurgical drilling
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YRM-13-MET-01 55 180 -74 213.20 242.00 200.00 28.25 28.80
YRM-13-MET-02 55 180 -64 DNT
YRM-13-MET-03 55 180 -63 DNT
YRM-13-MET-04 55 180 -55 66.20 72.30 65.00 3.42 6.10
YRM-13-MET-05 55 180 -55 74.00 81.30 70.00 27.62 7.30
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Table 1: Results from metallurgical test drilling (No top cut was applied to
the assays. All intercepts are reported as down-hole lengths.)
(i) DNT-Did not intersect target.
Metallurgical test drilling commenced in late March and samples gathered from these holes have been dispatched to Canada for Phase II metallurgical test work. The work will be conducted on behalf of Roxgold by Met-Solve Laboratories Inc. of Vancouver, British Colombia.
The metallurgical test holes were intentionally designed to drill down-dip on the 55 Zone structure in order to gather representative samples of mineralized material for metallurgical testing. Drill hole YRM-13-MET-01 was drilled on section 9475 and intersected 28.80 metres of mineralized material at approximately 200 meters vertical depth. The hole did not completely pass through the zone and was terminated in the footwall. Holes YRM-13-MET-02 and 03 were planned to test mineralization at approximately 60 to 100 meters. Both holes ended up drilling under the structure and paralleling the 55 Zone at 64 and 63 degrees respectively. The dip angles for holes YRM-13-MET-04 and 05 were flattened to 55 degrees and both intersected the 55 Zone structure as planned, estimated true widths on holes MET-04 and MET-05 are 1.70 meters and 1.85 meters respectively. In total 980 meters of HQ drill core in 5 holes were completed for this program. Click here for a longitudinal section of these results http://www.roxgold.com/i/pdf/YRM_55_LongSection_MET_PR.pdf.
In total, 170 kilograms of material was collected and dispatched for test work. This sample material will be split into granite and quartz and volcanic and quartz domains for test work. The phase 2 test work program will consist of the following:
-- Hardness and Abrasion Testing (Bond Indices)
-- Gravity gold characterisation (GRG testing)
-- Grind sensitivity - cyanide (whole ore) leaching
-- Diagnostic Leaching Tests
-- Settling and Reagent consumption tests
Results from these tests will feed into Roxgold's Preliminary Economic Assessment ("PEA") study that is scheduled to be completed in Q3 2013.
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 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 was then quartered and sent for assay at Actlabs Ouagadougou with QAQC samples inserted routinely. The remaining three quarters of the HQ core was then packaged in sealed plastic bags and sent to Roxgold's Ouagadougou office before being shipped to Canada with DHL. Samples received at Actlabs in Ouagadougou are first crushed up to 90%, passing 2 mm. A 300 gram split is then pulverized to 95%, passing 150 mesh (prep code RX1). A 1000 gram split is pulverized for samples located within the mineralized zone (prep code RX1+1.3). All samples are then assayed using procedure code 1A2-50 which is a 50 gram fire assay with AA (Atomic Adsorption) finish. All samples within the mineralized zones or samples grading in excess of 5 g/t Au, are re-analyzed with procedure code 1A4-1000 which is a 1,000 g screen metallic assay where a representative 500 g or 1,000 grams sample split is sieved at 100 mesh (150 micron), with assays performed on the entire +100 mesh fraction and two splits of the -100 mesh fraction.
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 Hounde region of Burkina Faso, West Africa. Roxgold is focused on further exploring the Company's 100% owned Yaramoko concession 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.
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.
Contacts:
Roxgold Inc.
John Dorward
President and CEO
+1 416-203-6401
jdorward@roxgold.com
www.roxgold.com