Bigger F2 Holds Together, and Grows

BARRY ALLAN, Mackie Research Capital Corp. (03/24/2009)
"RMX released eight additional holes: F2-47, 48, 49, 50, 51, 54, 56, and 57. Five holes (48, 52, 49, 55, 56) continued to test the F2 mineralization to the southwest of the F2 core, and three additional holes tested the zone to the northeast (47, 50, 57).

Data from these holes is consistent with results gleaned from the Main F2. We have calculated that the southwest extension (al l holes) is averaging a bi t lower grade (~20 g/t) than drilling on the northeast (~28 g/t), and that the width of mineralization seems to increase to the northeast, averaging ~8.7 metres compared to the 3.5 metres in southwest. Note, we have diluted al l intercepts to a minimum 2.0-metre width.

The essential take-aways from these results are:
  1. Further confirmation that the F2 system is developed some 200 metres northeast and southwest of the core F2 Zone.
  2. Total lateral extent appears to be ~500 metres compared to the original strike length of 170 metres.
The tenor of the mineralization is consistent with the Main F2 Zone - a broad envelope of lower-grade material (4-5 g/t) with a higher-grade core (>14 g/t).

Deposits in the Red Lake camp typically have a long vertical extent, reaching >2,500 metres in some cases. Hence, for F2 it is still early days and good additional drilling results are highly probable. We continue to recommend RMX as a BUY, and believe that RMX’s discovery is in the early stages of being defined.

Currently, RMX is undertaking a 50,000-metre drilling program on the F2 Zone, and we fully believe that additional good drill results will be forthcoming. The next set of results should be out within two to three weeks."

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