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Market: TSX, AMEX
Sector: Gold Mining
Epic: RMX
News: Latest news
Web Site: Rubicon Minerals
Other Articles: 12-07-201006-07-201027-05-2010

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Rubicon Minerals

Rubicon Minerals

Rubicon Minerals Corporation (TSX:RMX, NYSE AMEX:RBY) is a well-funded, top tier, gold exploration company deriving its strength from a hands-on management team with a track record of discovery. Rubicon controls over 65,000 acres of prime exploration ground in the prolific, high-grade Red Lake gold camp of Ontario, Canada, which hosts Goldcorp's world class Red Lake Mine and where in early 2008, Rubicon made the significant F2 Zone discovery at its Phoenix Gold Project. With an exceptional technical team, outstanding assets, a focus on gold camps in politically safe environments and a high profile in the capital markets, Rubicon Minerals has gained the reputation as a leading junior exploration company.

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Thursday, November 19, 2009

Rubicon extends gold mineralization at F2 System to the northeast

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Ongoing drilling at Rubicon Minerals (TSX: RMX, NYSE AMEX: RBY) flagship Phoenix Gold Project in Ontario’s world renowned Red Lake Gold District continues to deliver highly encouraging results.

Today the company reported yet another extension to the known strike length of the F2 Gold Zone, where the company has intersected multiple high grade gold values and wider intervals of gold mineralization.

Rubicon has completed 91,000 metres of drilling to date, with the current drill campaign focused on testing a 1200 metre by 1600 metre target area. In the north-eastern area of the F2 system Rubicon reported that drill hole 122-17 intersected 8.9 grams per tonne over 10 metres, including two high grade 1 meter intersects grading 25.2 grams per tonne and 36.9 grams per tonne.  Another underground drill hole, 122-23, also in the north-east area, intersected 48.8 g/t gold over 1.0 metre, including 88.8 g/t gold over 0.5 metres, plus 24.1 g/t gold over 0.5 metres and 12.9 g/t gold over 1.5 metres including 34.8 g/t gold over 0.5 metres.

“These latest results confirm the presence of broad mineralized zones and high-grade intercepts which continue to expand the target area in the northeast part of the system,” Rubicon noted.

Rubicon also reported results from two additional holes drilled into the 122-10 Zone, a new zone discovered in September 2009. Results included 12 g/t gold over 5.0 metres, which was part of a broader zone grading 4.1 g/t gold over 41.0 metres in drill hole F2-80-W2.  The same hole also cut a second broad gold zone containing 9.8 g/t gold over 8 meters, including 21.7 g/t gold over 2 meters and 44 g/t gold over 0.7 meters further downhole.

Underground drill hole 122-16, which was drilled approximately 50 metres south-west of the 122-10 intercept, returned 11.4 g/t gold over 8.0 metres,  including 16.8 g/t gold over 3.0 metres.


"This latest drilling continues to identify new gold zones, expands our target area and provides important infill in areas such as the 122-10 zone,” said David Adamson, President and CEO of Rubicon. “ As recently announced, we expect to complete an additional 158,000 metres or 518,000 feet of drilling over the next 14 months as we continue our aggressive exploration program to expand the F2 gold system.”


Rob McEwen, former Chairman and CEO of Goldcorp, owns 21.6% of the issued shares of Rubicon Minerals.

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