Vancouver —
Company geologists describe the mineralized zone as a sulphide-bearing silicified and veined hosted in ultramafic and variolitic mafic volcanic rocks. Mineralization occurs as pyrrhotite, pyrite and magnetite, with accessory chalcopyrite and local asenopyrite, galena, sphalerite and visible gold. Multi-generation quartz and quartz carbonate vein sets are present, and some of these exhibit colloform banding.
Highlights of various intercepts from hole 2 are shown in the accompanying table. Two additional holes have been drilled at this target, and a third is in progress.
The project hosts several gold prospects in the Dorion-McCuaig corridor, a 2.5-by-1-km extension of the Red Lake mine trend, which includes
The McCuaig property is 1.2 km northwest of the Cochenour mine and immediately north of the McKenzie Red Lake mine. Both mines are past-producers.
Rubicon is earning a half-interest in the McCuaig project from
Meanwhile, in northeastern Manitoba, Rubicon has optioned a half-interest in its 250-sq.-km Pegg platinum group metal (PGM) property to
Iriana can earn its interest by spending $850,000 on exploration and paying $80,000 in cash over four years. Rubicon will operate the project and contribute up to $12,000 to exploration during the first year.
The partners plan to search the little-explored property for intrusive-related and nickel-belt-type nickel-copper and PGE deposits.
The property hosts a 10-km strike length of the Cuthbert dyke. Nearby grab sampling of the dyke by
An initial, $150,000 program of airborne geophysics, prospecting and sampling is planned for this spring. Iriana will contribute $20,0000 to the effort. The partners also plan to determine if the belt is the same age as the Thompson nickel belt, 35 km to the west. Rubicon holds an underlying option to earn a 100% interest in the property by spending $70,000 in cash
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