RUBICON: The Northern Miner (03/02/2009)
posted on
Mar 09, 2009 10:05PM
The Northern Miner (03/02/2009)
"Red Lake, Ontario is home to a prolific gold camp, which has produced more than 24 million oz. gold to date and where Rubicon controls 10 exploration projects totaling about 260 sq. km, which the company says is 40% of the core of this district.
From the first hole, the company saw some interesting alteration associated with high-titanium basalts, says Ian Russell, Rubicon's regional exploration manager.
Last year, Rubicon drilled 56 holes totaling about 41,000 metres, with the majority, 35,000 metres in 39 holes, drilled on F2. Of these, assays for 35 holes have been released, all of which returned gold mineralization.
And with the recent release of assays from hole 39, the strike length could grow by a further 220 metres to the southwest, for a total of 580 metres. Rubicon says the mineralization in hole 39 is similar to that found in previous holes, which may suggest it has hit the same mineralized system.
"We now know fairly clearly (that) there are multiple parallel zones, which is. . . what the model would predict," Adamson says. "But the more drilling we do, the more we see these zones being developed. So the potential for this to be multiple parallel zones is now, I think, very clear."
And Russell says that F2 is not necessarily a single zone, but potentially "a series of zones that are multiple zones dipping off to the northwest."