Tailings controlled by Roxmark total 400,000 tons grading 0.04 oz gold per ton. The bulk of the tailings is on the Bankfield and Tombill properties, two former producing gold mines in the area. Metallurgical studies will also be carried out on the material.
Ateba Mines (TSE), a joint venture partner in the tailings project, has declined to participate and will be diluted. Roxmark is planning a shareholders’ rights offering which, with a private placement, is expected to raise $500,000-700,000. The offering should be completed by the New Year, Roxmark says.
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