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Press Release Source: Rubicon Minerals Corporation
Rubicon's Golden Promise Project Delivers High-Grade Gold Intercepts
Thursday September 19, 2:38 pm ET
VANCOUVER, BRITISH COLUMBIA--
Gold-bearing vein intersected over a 225 metre strike length to a depth of 50 metres and is open for follow up
David W. Adamson, President and CEO of Rubicon Minerals Corporation (RMX.TSX Venture) is pleased to announce results from recently completed diamond drilling at the Company's 100% controlled Golden Promise project in Newfoundland. A total of 21 holes were drilled on the Jaclyn Zone vein target for a total of 1045 metres. The drill holes tested a 225-metre strike length on 25-metre to a maximum of 43-metre spacings. Of 17 holes which intersected the vein zone, 15 contain visible gold. An additional three holes were lost due to technical problems and a fourth hole was not drilled deep enough to reach its target. The drilling was designed to test a newly discovered gold-bearing vein which was exposed by trenching in an area of gold-bearing boulders described in an earlier news release (July 23, 2002).
The Jaclyn gold-bearing vein system is developed over a minimum 225 metre strike length and has been tested to a vertical depth of only 50 metres below surface and is open for follow up in all directions. Tabulated assays from the drilling are presented in Table 1.
Gold mineralization is typically developed within quartz veins or breccia zones and is characterized by coarse (0.25-3mm) native gold grains plus/minus arsenopyrite. Galena and sphalerite have been noted locally. Gold mineralization is generally restricted to sections over a few centimetres to 1.5 metres thick, whereas the vein zones themselves may attain estimated true thicknesses of up to 4.05 metres with individual quartz veins reaching estimated true thicknesses of 2.70 metres. The veins are associated with alteration of sedimentary wallrocks which, outside of these altered zones, comprise fine-grained siliciclastics and possible tuffaceous units. The alteration appears as spots, blotches and completely replaced patches of quartz, sericite, carbonate and graphite(?) with accessory pyrite and arsenopyrite. Wall rock alteration haloes are 10 to 15 metres wide on either side of the vein.
David Adamson states: "The Golden Promise project was acquired by Rubicon only three months ago and we are encouraged with these initial drill results from this new gold discovery. Several holes attained grades and thickness of potentially economic significance. To intersect both veining and visible gold with such consistency is noteworthy and we look forward to further exploration of the Jaclyn Zone. We have also identified at least two other boulder trains in the immediate vicinity that have not been sourced but which hold potential for additional gold-bearing vein discoveries. In addition, Rubicon controls over 550 km2 of this unexplored belt which contains a large number of gold anomalies in basal tills which suggest the potential for new gold-bearing vein discoveries."
Plans for additional exploration of the Jaclyn Zone and other potential veins are currently being formulated.
The drill program, sampling and assaying was carried out under the supervision of David Mullen, QP. Half samples of HQ (63.5mm) or NQ (47.6mm) size core were sawn at a secure Rubicon facility and shipped to Springdale NF for analysis at Eastern Analytical Laboratories. A total of ten samples were sent for check assays at ALS Chemex Labs in Vancouver, B.C. The drill program received financial assistance through the JCEAP program of the Newfoundland Department of Energy and Mines, whose support is gratefully acknowledged.
RUBICON MINERALS CORPORATION
David W. Adamson, President & CEO
Hole # Length Dip Az From To Core Estimated Au Au
of Length true (oz (g/t)
Hole (m) thickness /ton)
(m) (m)
----------------------------------------------------------------------
GP02* 35.7 -45 160 23.00 29.30 6.30 4.05 0.19 6.59
Includes** 26.75 29.30 2.55 1.64 0.48 16.57
Includes 28.65 29.30 0.65 0.42 0.97 33.39
----------------------------------------------------------------------
GP-02-02 87.5 -70 160 - - - - Did not -
reach
target
----------------------------------------------------------------------
GP-02-03 26.5 -45 160 - - - - Hole -
lost
----------------------------------------------------------------------
GP-02-04 10.4 -45 160 - - - - Hole -
lost
----------------------------------------------------------------------
GP-02-05 38.7 -45 340 29.15 31.35 2.20 1.80 0.33 11.41
Includes 29.15 29.50 0.35 0.29 1.91 65.63
----------------------------------------------------------------------
GP-02-06 56.4 -70 340 44.20 46.10 1.90 1.09 0.15 5.11
----------------------------------------------------------------------
Includes 45.00 45.55 0.55 0.32 0.46 15.68
----------------------------------------------------------------------
GP-02-07 8.3 -45 340 Hole
lost
----------------------------------------------------------------------
GP-02-08 32.0 -45 340 24.45 25.60 1.15 0.88 0.19 6.55
Includes 24.45 24.85 0.40 0.31 0.50 17.13
----------------------------------------------------------------------
GP-02-09 60.1 -70 340 45.40 50.90 5.50 2.50 0.19 6.37
45.40 50.30 4.90 2.22 0.20 7.05
45.40 48.70 3.30 1.50 0.30 10.43
Includes 46.00 48.25 2.25 1.02 0.43 14.84
Includes 46.00 47.20 1.20 0.54 0.79 27.04
----------------------------------------------------------------------
GP-02-10 46.0 -45 340 32.75 37.85 5.10 4.02 0.05 1.70
----------------------------------------------------------------------
GP-02-11 69.2 -68 340 47.30 52.70 5.40 2.70 0.04 1.40
----------------------------------------------------------------------
GP-02-12 32.0 -45 340 19.25 20.10 0.85 0.63 0.53 18.00
----------------------------------------------------------------------
GP-02-13 49.4 -70 340 39.55 41.85 2.30 0.94 0.52 17.68
Includes 40.30 41.85 1.55 0.63 0.75 25.74
Includes 41.25 41.85 0.60 0.24 1.91 65.43
----------------------------------------------------------------------
GP-02-14 37.8 -45 340 27.55 28.45 0.90 0.67 0.67 23.14
Includes 27.55 28.00 0.45 0.33 0.82 27.97
----------------------------------------------------------------------
GP02-15 59.8 -65 340 47.20 48.30 1.10 0.52 0.33 11.25
Includes 47.80 48.30 0.50 0.23 0.69 23.47
----------------------------------------------------------------------
GP02-16 65.6 -45 340 31.45 31.95 0.50 0.34 0.92 31.61
----------------------------------------------------------------------
GP02-17 68.6 -65 340 55.5 59.15 3.65 1.48 0.09 3.02
Includes 58.5 59.15 0.65 0.26 0.48 16.49
----------------------------------------------------------------------
GP02-18 42.7 -45 340 32.80 33.85 1.05 0.70 0.29 9.90
Includes 32.80 33.35 0.55 0.37 0.52 17.64
----------------------------------------------------------------------
GP02-19 93.6 -68 340 90.35 91.8 1.45 0.45 0.01 0.49
----------------------------------------------------------------------
GP02-20 41.2 -45 340 30.15 30.75 0.60 0.46 0.04 1.34
----------------------------------------------------------------------
GP02-21 84.4 -65 340 33.45 33.85 0.40 0.21 2.01 68.95
------------------------------------------------------------------------
Notes:
(1) Holes 01-05 HQ core size, all other holes NQ core
(2) Assays by metallic screen fire assay method at Eastern Analytical Labs. Check assays on the -150 mesh fraction were conducted by ALS Chemex and are within acceptable limits. All data are uncut.
* Core recovery of 91.3% over this interval
** Core recovery of 78.5% over this interval
The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from targeted results. Mineral resources which are not mineral reserves do not have demonstrated economic viability. The Company relies upon litigation protection for forward looking statements.
NOTE: Location map available from the company at the number listed below or on the CCNMatthews website at ccnmatthews.com.
--------------------------------------------------------------------------------
Contact:
Rubicon Minerals Corporation
Bill Cavalluzzo
VP Investor Relations
Phone: Toll Free: 1-888-365-4706
Email: bcavalluzzo@rogers.com
Website: www.rubiconminerals.com
TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
