Roxgold Reports Deepest High Grade Intercept on 55 Zone to Date and Confirms Mineralization to 900 Meters
TORONTO, ONTARIO -- (Marketwire) -- 01/08/13 -- Roxgold Inc. (TSX VENTURE: ROG) ("Roxgold" or the "Company") is pleased to announce drill results on its 100% owned Yaramoko permit in Burkina Faso. These results represent the deepest drill intercepts on the 55 Zone to date and now indicate that mineralization within the 55 Zone extends from surface to 900 meters vertical depth.
HIGHLIGHTS
-- 16.98 grams per tonne gold over 5.6m starting from 1,016.4m down hole in
hole YRM-12-DD-250;
-- 18.9 grams per tonne gold over 1.34m starting from 857.27m down hole in
hole YRM-12-DD-253;
-- 24.77 grams per tonne gold over 3.6m starting from 530.5m down hole in
hole YRM-12-DD-236;
-- YRM-12-DD-253 represents a 150 meter step out down plunge and YRM-12-DD-
250 an approximate 400 meter step out down dip from the recently
released YRM-12-DD-245.
Please refer to the following link for a long section of the drilling included in this release
http://media3.marketwire.com/docs/rog108-Longitudinal_Section.pdf
"Today's results continue to demonstrate the high grade potential down plunge within the 55 Zone," stated John Dorward, President and CEO of Roxgold. "We are encouraged by the results from drilling so far. The previously released Hole YRM-12-DD-245 demonstrated high grade mineralization to a depth of 500 meters. To extend high grade mineralization to a depth of 900 meters with additional significant results between 500 meters and 900 meters is an excellent base from which to commence our planned 2013 program. The previous resource estimate (see press release dated August 7, 2012) incorporated information from drilling to a depth of approximately 400 meters and these results now confirm that mineralization continues well below that."
Summary of Results
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Estimated
Depth Depth Value Intercept True
Hole ID Location Azi Dip From To (g/t) (m) Width
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YRM-12-DD-
189 55 ZONE 360 -50 199.00 199.50 23.56 0.50 0.40
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YRM-12-DD-
230 55 ZONE 360 -50 539.20 545.60 4.74 6.40 5.25
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YRM-12-DD-
236 55 ZONE 360 -55 530.50 534.10 24.77 3.60 2.62
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including 55 ZONE 530.50 532.20 48.65 1.70 1.24
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YRM-12-DD-
250 55 ZONE 360 -62 1,016.40 1,022.00 16.98 5.60 3.62
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including 55 ZONE 1,018.80 1,022.00 28.02 3.20 2.07
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YRM-12-DD-
253 55 ZONE 360 -56 857.27 858.61 18.90 1.34 0.88
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Table 1. Highlights from Q4 2012 drilling
To see a Table of results from drill holes included in this release please click the following link
http://media3.marketwire.com/docs/rog108-Assay_Table.pdf
Following the recently announced management appointments (see press release dated December 19, 2012), Roxgold is well positioned to deliver on its planned work program for 2013 which includes the following key objectives:
1. Expand upon recent results to enhance the scope of the high grade 55
Zone through infill and extensional drilling
2. Advance the Yaramoko Project towards a production decision
3. Unlock the extensive geological potential of the Yaramoko Permit through
a systematic exploration program
An updated resource estimate is scheduled to be completed in Q1 2013 and work continues to progress towards the Preliminary Economic Assessment planned for the second half of this year.
Quality Assurance/Quality Control and Qualified Person
Drill holes reported in this press release were drilled using HQ and NQ sized diamond drill bits. True width is calculated using an approximate vein orientation of 258 degrees azimuth with a south westerly dip of 75 degrees. Contractors and staff working for Roxgold conducted all logging and sampling. The core was logged and marked up for sampling in lengths of up to 2 meters. "Zone Samples" were sampled on intervals down to 30 centimetres depending on the core length of the intercept. The core was cut into equal halves using a diamond saw. One half of the core was left in the original core box and stored at the Roxgold compound in Koussaro. The other half was sampled, placed into sealed bags and securely stored at site until it was shipped to a certified lab in Ouagadougou. The core was dried and crushed by the labs, and a 150 gram pulp was prepared from the coarse crushed material. The labs conducted routine gold analysis using a 50 gram charge and fire assaying with atomic absorption finish. Quality control procedures included the systematic insertion of blanks, duplicates and sample standards into the sample stream at the rate of one duplicate or one certified reference blank or standard per 11 samples. In addition, labs, inserted their own standards, blanks and duplicates as per internal Company procedures.
Pierre Desautels, P.Geo, 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.
About Roxgold
Roxgold is a TSX.V listed Exploration Company with its key asset, the 167 km2 Yaramoko permit, located in an emerging greenstone belt to the south of and contiguous to SEMAFO's Mana project in the Hounde region of Burkina Faso, West Africa. Burkina Faso is a mining friendly country that has seen rapid growth in its mining sector with the construction of 6 mines in 5 years. Roxgold is focused on further exploring and advancing the 55 Zone resource located within the Company's 100% owned Yaramoko permit.
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, expected completion of assay backlog, 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 & CEO
+1 416-203-6401
jdorward@roxgold.com
www.roxgold.com