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Market: TSX | NYSE.AMEX: RBY
Sector: Gold Mining
Epic: .RMX
News: Latest news
Web Site: Rubicon Minerals
Other Articles: 03-02-201022-01-201016-12-2009

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Rubicon Minerals

Rubicon Minerals

Rubicon Minerals Corporation (TSX : RMX  | NYSE.AMEX : RMX) 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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Wednesday, December 16, 2009

Rubicon Minerals eyes more discoveries with 2010 drilling programme

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Rubicon Minerals Corporation (TSX: RMX, NYSE-AMEX: RBY) said new results from drilling at its wholly owned Phoenix gold project continued to expand the F2 gold system as it is gearing up for next year’s extensive drilling programme, which is expected to further broaden the current known limits of the system.


The gold mineralisation intersected in Target Area 2 in the Northeastern Area included intervals of 0.6m (metre) grading 70.7 g/t (grammes per tonne) gold, 1m at 45.5 g/t gold, 3m at 10.7 g/t gold, 0.9m at 29.7 g/t gold and 5.4m at 5.2 g/t gold including 0.7m at 25.7 g/t. Intercepts from Target Area 1 included 1m at 69.5 g/t gold, 1m at 35.1 g/t gold, 1.5m at 19.5 g/t gold including 1m at 27.4 g/t gold.


Drilling to the southwest of Target Area 1 included an intercept of 9m at 7.4 g/t gold including 1.2m at 38.6 g/t gold, further expanding the discovery core zone of the area.


The company said that the gold bearing geology could now be correlated over 400m northeast from initial F2 zone discovery in the centre of Target Area 1, implying lateral and depth potential to outline a new zone to the northeast of the F2 zone, which remains open along strike and to depth.


“2009 has been a year of significant progress at the F2 Zone. We have established that the F2 Gold System is of significant size and remains open for expansion with the discovery of new zones,” said President and Chief Executive of Rubicon David Adamson.


The company is planning a 158,000m drilling programme for 2010.


Rubicon controls over 65,000 acres of exploration ground in the Red Lake gold district of Ontario which hosts Goldcorp's (TSX: G, NYSE: GG) high-grade Red Lake Mine. In addition to its Red Lake holdings, Rubicon also controls over 380,000 acres surrounding the Pogo Mine in Alaska as well as 225,000 acres in northeast Nevada.

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