|June 23, 2011|
Rockex Mining Flies Airborne Geophysical Survey
|Rockex Mining Flies Airborne Geophysical Survey|
June 23, 2011 Thunder Bay, Ontario -- Rockex Mining Corporation ("Rockex" or the "Company") (TSX:RXM) is pleased to announce that it has completed the helicopter-borne portion of a geophysical survey on its Western Lake St. Joseph Iron Project and Root Lake Project. The survey was completed by Geo Data Solutions GDS Inc., a geophysical consulting company based in Lavel, Quebec. Rockex anticipates receiving the results of the survey within the next several weeks.
"This survey should enhance our understanding of the iron formations in Western Lake St. Joseph and Root Lake areas," said Pierre Gagné, Chairman of the Board. "The survey is designed to identify the magnetic signature of these iron formations and should enable us to extend the formations along strike from our Eagle Island Deposit to Fish Island and Wolf Island, as well as identifying other iron formations in the area. We believe that these surveys will show an increase in the size of the formations and enable us to increase the Company's mineral resources after further drilling and other exploration activities."
Rockex' Western Lake St. Joseph Project -- which includes the Eagle Island Deposit, as well as additional potential deposits at Wolf Island and Fish Island -- consists of a 100% interest in 23 contiguous mining claims covering a nominal area of approximately 5,392 hectares located approximately 100 kilometres northeast of Sioux Lookout and 80 kilometres south-southwest of Pickle Lake. Rockex and its wholly-owned subsidiary, Rockex Limited, received a NI 43-101 mineral resources estimate for its Eagle Island concluding that, at an 18% Soluble Iron cut-off grade, there are Indicated Mineral Resources of 590,847,000 tonnes grading 28.84% Fe and Inferred Mineral Resources of 415,757,000 tonnes grading 29.47% Fe in the Eagle Island Deposit (see press release dated February 3, 2011 and the related Technical Report filed on SEDAR).
In addition, Rockex Limited holds a 100% interest in three other iron projects in relative close proximity to Rockex Limited's Western Lake St. Joseph Project: (i) East Soules Bay, a property consisting of 4 contiguous mining claims (1,024 hectares) in and along the eastern end of Lake St. Joseph, approximately 40 kilometres east of Rockex' Western Lake St. Joseph Iron Project, (ii) the Doran Lake Property consisting of 4 contiguous mining claims (832 hectares) in and along the north shore of Doran Lake, south of Lake St. Joseph, approximately midway between the Western Lake St. Joseph Iron Project and the East Soules Bay Project and (iii) the Root Lake Project, a property consisting of 4 contiguous claims (832 hectares), approximately 100 kilometres north of Sioux Lookout near the central part of Lake St. Joseph.
Please visit the Corporation's website at www.rockexmining.com.
For further information please contact: Pierre Gagné, Chairman of the Board of Rockex, at 807-623-2626, Donald A. Sheldon, President and CEO of Rockex, at 416-595-0147 and Michael Borovec, Vice-President, Investor Relations at 416-594-9449.
Forward Looking Information: This news release may contain or refer to forward-looking information. All information other than statements of historical fact that address activities, events or developments that Rockex believes, expects or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond the Company's ability to control or predict that may cause actual events or results to differ materially from those discussed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Rockex disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although Rockex believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be placed on these forward-looking statements due to the inherent uncertainty therein.
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
You can view the Next News Releases item: Mon Oct 17, 2011, Rockex Airborne Survey Identifies Iron Formations at its Lake St. Joseph Properties
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