VERY ENCOURAGING NEWS IMO..
Press Release Source: Rubicon Minerals Corporation
Rubicon Reports More High Grade Gold In Red Lake
Tuesday June 3, 9:05 am ET
Rivard Project Returns 12 oz/ton Gold Intercept: Additional Drilling Planned
VANCOUVER, British Columbia--(BUSINESS WIRE)--June 3, 2003--David W. Adamson, President and CEO of Rubicon Minerals Corporation (RMX.TSX Venture) is pleased to announce final results from Winter 2002/3 diamond drilling on its RLJV properties, currently under option to AngloGold (Canada) Exploration Company. The program consisted of 36,280 feet of diamond drilling in a total of 33 drill holes in 5 target areas (Exhibit A). Assay results are summarized in Table 1. A significant portion of this drilling (10,226 feet, 12 holes) was performed in the Rivard target area, located at the western portion of the Red Lake gold camp (Exhibit A). Highlights of the program include:
0.42 oz/ton gold over 31 feet in drill hole RV-03-07. This mineralization, hosted by visible gold-bearing quartz (+/- carbonate) veins in ultramafic and felsic rocks occurs approximately 500 feet below similar gold bearing veins exposed in trenches on surface.
The above interval in drill hole RV-03-07 includes a very high-grade section of 11.9 oz/ton gold over 1.0 foot plus two other mineralized intervals and is similar to the style of mineralization which has been trenched at surface. Historically, in the Red Lake gold mines, high-grade gold values have been 'cut' to 10 ounces per ton values in intervals assaying greater than 10 oz/ton gold. Using this 10 oz/ton cutting factor an average of 0.35 oz/ton gold over 31 feet is indicated.
Mineralization is interpreted to be part of a steeply dipping vein set (determined using oriented core) which is open for follow up at depth (see attached section, Exhibit B) and along strike. Observations from surface work suggest that individual veins can be traced along strike for over 100 feet (30 metres).
Drill hole RV-03-06, collared 755 feet (230 metres) to the south of RV-03-07 has intersected a section of moderate to shallow dipping veins based on oriented core measurements which currently has no known surface expression (see attached section........>>> MORE from biz.yahoo.com news..
biz.yahoo.com
IMO, these high grade intercepts within a very healthy mineralized system at significant depths in this camp are very encouraging..
Disclaimer, I am a shareholder.. |
