Rubicon drills in Red Lake

Junior Rubicon Minerals (RMX-V) has renewed drilling at the Rivard property in Ontario’s Red Lake camp.

The 7,500-ft. program follows a first phase, completed earlier this year, which produced a best result of 11.9 oz. gold per ton over 1 ft. of a 31-ft. intersection that averaged 0.42 oz. gold.

Gold mineralization is associated with a quartz-vein system developed in ultramafic, felsic and sedimentary rocks. The steeply dipping structures have been traced on surface for more than 100 ft. and are enclosed by a surrounding iron carbonate alteration halo that measures 9,000 ft. long by 6,000 ft. wide.

South African-based AngloGold (AU-N) can earn a 70% interest in Rivard and other Rubicon-held properties by spending US$3.5 million on exploration over the next 1.5 years. The major also must pay US$250,000 in cash.