Canadian Mining Journal

News

GOLD: Rubicon drills high grades north of Phoenix development

ONTARIO – As Rubicon Minerals Corp. puts the finishing touches on its Phoenix gold project – start-up is scheduled for the next few weeks – near Red Lake, it continues to explore and drill excellent grades north of the current...



ONTARIO – As Rubicon Minerals Corp. puts the finishing touches on its Phoenix gold project – start-up is scheduled for the next few weeks – near Red Lake, it continues to explore and drill excellent grades north of the current mine development.

The area under examination is less than a kilometre north of the new mine in the F2 gold system. The system is a sequence of ultramafic-to-mafic volcanics, felsic intrusives and meta-sedimentary rock types trending northeast and dipping to the west. It includes the McFinley gold deposit banded iron formation sequence within the East Bay Deformation trend.

Rubicon has completed 21 widely spaced surface holes with the following highlights:

  • PR-15-11 – 24.17 g/t Au over 2.00 metres and 4.88 g/t over 10.50 metres, including 6.43 g/t over 7.00 metres;
  • PR-15-16 – 8.48 g/t Au over 3.25 metres, including 11.10 g/t over 2.25 metres;
  • PR-15-19 – 8.43 g/t Au over 1.05 metres and 2.30 g/t over 12.00 metres, including 5.76 g/t over 2.00 metres.
  • PR-15-06 – 10.77 g/t Au over 2.65 metres; and
  • PR-15-09 – 7.84 g/t Au over 1.50 metres.

The first three holes noted were drilled in the Carbonate zone hanging wall that is about 25 metres wide. Gold mineralization is associated with fine-grained arsenopyrite shear bands, and silicified, actinolite altered, quartz-carbonate veins.

The final two holes noted above were drilled in the Carbonate zone, again about 25 metres wide. It consists of a massive colloform carbonate vein zone with gold mineralization associated with sulphides in brecciated and silicified portions of iron carbonate veins.

Drilling will continue. Please visit RubiconMinerals.com