Rubicon expands zone at McFinley

Vancouver — Rubicon Minerals (RMX) has intersected more high-grade gold mineralization in the Phoenix zone of its McFinley project in Ontario’s Red Lake camp.

The mineralization is hosted by highly altered and veined sections up to 40 metres thick in altered mafic volcanics near their contact with East Bay ultramafics.

Situated in the northern portion of the property, the Phoenix zone comprises three shoots: PZ-1, PZ-2 and PZ-3. The recent, 16-hole drilling program focused on PZ-1 and returned the following highlights:

— hole 23 — 70.1 grams gold over 3.1 metres (visible gold spotted);

— hole 25 — 15.8 grams gold over 3.5 metres;

— hole 26 — 8.6 grams gold over 3.2 metres;

— hole 30 — 10.1 grams gold over 1.8 metres;

— hole 34 — 20.5 grams over 1.2 metres.

Initial results had yielded high gold grades over substantial widths of up to 15.5 grams over 4.8 metres. Gold was found to occur in quartz-carbonate veins and as replacement zones and is locally visible. Variable amounts of arsenopyrite, pyrrhotite, pyrite, sphalerite, chalcopyrite and galena have been observed.

The PZ-1 zone shoot has been defined over 200 metres to a depth of 160 metres below surface. The higher-grade core of PZ-1 was drilled on 30-metre centres and averages 20.69 grams gold over 3.27 metres. These and further results will help define the resource.

Drilling will continue to test the gold and sulphide system, which remains open in both directions. Only a small portion of the system has been tested so far, and Rubicon President David Adamson says the grades are comparable with those of the major mines in the Red Lake district.