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Tuesday, 28th April 2009 (745 views)

Rubicon Minerals has intersected more high-grade gold and wide gold zones at its wholly-owned Phoenix gold project in the Red Lake gold district of Ontario.

The company has been carrying out ice-based drilling at the property's F2 Zone, with the latest results focused in the north-east and south-west target areas of the property.

Rubicon Minerals reported that it intersected 9.8ft at 3.62 oz/t gold, 3.3ft at 6.96 oz/t and 12.1ft at 1.15 oz/t, while wide zones included 0.36 oz/t gold over 98.4ft.

David Adamson, the firm's president and chief executive, stated: "Only a small part of the total identified target area has been drill tested and thus the potential for further expansion of the F2 gold system is considered to be very high."

The latest drilling results indicate that the north-east area is an expansion of the F2 core system, rather than a separate deposit and remains open for exploration to depth and further to the north/north-east.

Vancouver-based Rubicon Minerals is focused on gold exploration activities in politically safe jurisdictions and controls more than 65,000 acres of ground in the Red Lake gold district, over 380,000 acres surrounding the Pogo mine in Alaska and 225,000 acres in north-east Nevada.

 

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