Rubicon Continues to Expand F2 Gold Zone, Red Lake, Ontario
19 Novembre 2009 - 2:49PM
PR Newswire (US)
-Intercepts include multiple high-grade gold values plus broad
intervals of economic significance- TORONTO, Nov. 19
/PRNewswire-FirstCall/ -- Rubicon Minerals Corporation (RMX.TSX:
RBY.NYSE-AMEX) is pleased to provide a further update of drill
results from its 100%-owned Phoenix Gold Project, located in the
heart of the prolific Red Lake Gold District of Ontario. New
results continue to expand the F2 Gold system, where 91,100 metres
of drilling have been completed to date (see news releases since
March 12, 2008 and http://www.rubiconminerals.com/ for details).
The current drill program is testing a 1200-metre by 1600-metre
target area, and is referred to as the '9X drill plan'. Significant
new results are summarized below and all new results are presented
in Table 1 and Figures 1 and 2. Northeastern Area - Underground
drill hole 122-17, located in the northeast area of the F2 system
intersected a broad gold zone grading 0.26 oz/ton gold over 32.8
feet (8.9 g/t gold over 10.0 metres) including 1.07 oz/ton gold
over 3.3 feet (36.9 g/t gold over 1.0 metre) and 0.73 oz/ton gold
over 3.3 feet (25.2 g/t gold over 1.0 metre). - Underground drill
hole 122-23 also in the northeast area intersected 1.42 oz/ton gold
over 3.3 feet (48.8 g/t gold over 1.0 metre) including 2.59 oz/ton
gold over 1.6 feet (88.8 g/t gold over 0.5 metres) plus 0.70 oz/ton
gold over 1.6 feet (24.1 g/t gold over 0.5 metres) and 0.37 oz/ton
gold over 4.9 feet (12.9 g/t gold over 1.5 metres) including 1.02
oz/ton gold over 1.6 feet (34.8 g/t gold over 0.5 metres). - These
latest results confirm the presence of broad mineralized zones and
high-grade intercepts which continue to expand the target area in
the northeast part of the system. 122-10 Zone The 122-10 zone is
named for the drill hole first reported from this zone on September
14, 2009 (see also news release dated October 22, 2009 for
subsequent results). Two new holes reported in this release
continue to expand the gold zone in this area. New results include:
- Drill hole F2-80-W2 intersected 0.35 oz/ton gold over 16.4 feet
(12.0 g/t gold over 5.0 metres) which is part of a broader zone
grading 0.12 oz/ton gold over 134.5 feet (4.1 g/t gold over 41.0
metres). F2-80-W2 also intersected a second broad gold zone
containing 0.29 oz/ton gold over 26.2 feet (9.8 g/t gold over 8.0
metres) including 0.63 oz/ton gold over 6.6 feet (21.7 g/t gold
over 2.0 metres) as well as 1.28 oz/ton gold over 2.3 feet (44.0
g/t gold over 0.7 metres) further downhole. - Underground drill
hole 122-16, located approximately 50 metres southwest of the
122-10 intercept, returned 0.33 oz/ton gold over 26.2 feet (11.4
g/t gold over 8.0 metres) including 0.49 oz/ton gold over 9.8 feet
(16.8 g/t gold over 3.0 metres) which includes 1.54 oz/ton over 1.6
feet (52.8 g/t gold over 0.5 metres). "This latest drilling
continues to identify new gold zones, expands our target area and
provides important infill in areas such as the 122-10 zone. As
recently announced, we expect to complete an additional 158,000
metres or 518,000 feet of drilling over the next 14 months as we
continue our aggressive exploration program to expand the F2 gold
system" said David Adamson, President and CEO. Table 1: Assay
Results
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Depth to Centre Hole of Intercept Gold Metres Gold Feet (m) (g/t)
(oz/t)
-------------------------------------------------------------------------
F2-80-W2 598 4.1 41.0 0.12 134.5
-------------------------------------------------------------------------
incl. 608 12.0 5.0 0.35 16.4
-------------------------------------------------------------------------
F2-80-W2 662 9.8 8.0 0.29 26.2
-------------------------------------------------------------------------
incl. 662 21.7 2.0 0.63 6.6
-------------------------------------------------------------------------
F2-80-W2 724 44.0 0.7 1.28 2.3
-------------------------------------------------------------------------
122-14 111 16.8 1.0 0.49 3.3
-------------------------------------------------------------------------
122-14 335 4.5 8.3 0.13 27.1
-------------------------------------------------------------------------
incl. 334 10.0 1.0 0.29 3.3
-------------------------------------------------------------------------
122-16 525 5.1 3.0 0.15 9.8
-------------------------------------------------------------------------
122-16 608 11.4 8.0 0.33 26.2
-------------------------------------------------------------------------
incl. 608 16.8 3.0 0.49 9.8
-------------------------------------------------------------------------
And incl. 607 52.8 0.5 1.54 1.6
-------------------------------------------------------------------------
122-16 618 33.6 1.0 0.98 3.3
-------------------------------------------------------------------------
122-16 656 3.5 10.0 0.10 32.8
-------------------------------------------------------------------------
122-17 330 4.6 25.0 0.13 82.0
-------------------------------------------------------------------------
incl. 334 8.9 10.0 0.26 32.8
-------------------------------------------------------------------------
And incl. 331 36.9 1.0 1.07 3.3
-------------------------------------------------------------------------
And incl. 336 25.2 1.0 0.73 3.3
-------------------------------------------------------------------------
122-23 291 12.9 1.5 0.37 4.9
-------------------------------------------------------------------------
incl. 291 34.8 0.5 1.02 1.6
-------------------------------------------------------------------------
122-23 476 24.1 0.5 0.70 1.6
-------------------------------------------------------------------------
122-23 496 48.8 1.0 1.42 3.3
-------------------------------------------------------------------------
incl. 496 88.8 0.5 2.59 1.6
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Holes with the prefix '122' were drilled from underground, all
other holes are drilled from surface. Assays are uncut. Results
satisfy the following criteria: (greater than)10.0 gram gold x
metre product and (greater than)3.0 g/t gold. A complete listing of
results to date for the F2 Zone is available at
http://www.rubiconminerals.com/. Rubicon Minerals Corporation is a
well-funded exploration and development company, focused on
exploring for gold in politically safe jurisdictions with high
geological potential. Rubicon controls over 65,000 acres of prime
exploration ground in the prolific Red Lake gold district of
Ontario which hosts Goldcorp's high-grade, world class Red Lake
Mine. In addition to its Red Lake holdings, Rubicon also controls
over 380,000 acres surrounding the Pogo Mine in Alaska as well as
225,000 acres in northeast Nevada. Rob McEwen, President and CEO of
McEwen Capital and former Chairman and CEO of Goldcorp, owns 21.6%
of the issued shares of the Company. RUBICON MINERALS CORPORATION
"David W. Adamson" President & CEO Please visit:
http://files.newswire.ca/617/Red_Lake_Figures.pdf to view Figure 1:
F2 Zone Plan Map and Figure 2: Composite Long Section Looking
Northwest and 9X Target Area Outlines. Assaying and Qualified
Person ----------------------------- Assays were conducted on sawn
NQ-sized half core sections. Further drilling is required before
the true widths of reported intercepts can be determined. The saw
blade is routinely cleaned between samples when visible gold is
noted during logging and sampling of the drill core. Assays were
conducted by SGS Minerals Services using standard fire assay on a
30 gram (1 assay ton) sample with a gravimetric finish procedure.
Assays are uncut as is standard practice in Red Lake. Standards,
blanks and check assays were included at regular intervals in each
sample batch. Gold standards were prepared by CDN Resource
Laboratories Ltd. Work programs in this release were supervised by
Terry Bursey, P.Geo. Regional Manager for Rubicon and the project
Qualified Person under the definition of NI 43-101. Forward Looking
Statements -------------------------- This news release contains
statements that constitute "forward-looking statements" within the
meaning of Section 21E of the United States Securities Exchange Act
of 1934 and "forward looking information" within the meaning of
applicable Canadian provincial securities legislation
(collectively, "forward-looking statements"). Forward-looking
statements often, but not always, are identified by the use of
words such as "seek", "anticipate", "believe", "plan", "estimate",
"expect", "targeting" and "intend" and statements that an event or
result "may", "will", "should", "could", or "might" occur or be
achieved and other similar expressions. Forward-looking statements
in this document include statements regarding the timing and nature
of future exploration programs which are dependent on projections
which may change as drilling continues. In addition, areas of
exploration potential are identified which will require substantial
drilling to determine whether or not they contain similar
mineralization to areas which have been explored in more detail.
The description of the extent of mineralized zones is not intended
to imply that any economically mineable estimate of reserves or
resources exists on the Phoenix project. Similarly, although
geological features of the F2 Zone are interpreted to show
similarities to nearby gold producing mines owned by third parties,
this should not be interpreted to mean that the F2 zone has, or
that it will, generate similar reserves or resources. Significant
additional drilling is required at F2 to fully understand system
size before a meaningful resource calculation can be completed. The
forward-looking statements that are contained in this news release
are based on various assumptions and estimates by the Company and
involve a number of risks and uncertainties. As a consequence,
actual results might differ materially from results forecast or
suggested in these forward-looking statements. Forward-looking
statements involve known and unknown risks, uncertainties,
assumptions and other factors that may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Factors
that could cause the actual results to differ include market
prices, results of exploration, availability of capital and
financing on acceptable terms, inability to obtain required
regulatory approvals, unanticipated difficulties or costs in any
rehabilitation which may be necessary, market conditions and
general business, economic, competitive, political and social
conditions. These statements are based on a number of assumptions,
including assumptions regarding general market conditions, timing
and receipt of regulatory approvals, the ability of the Company and
other relevant parties to satisfy regulatory requirements, the
availability of financing for proposed transactions and programs on
reasonable terms and the ability of third-party service providers
to deliver services in a timely manner. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially from those expressed or implied in
forward-looking statements, there may be other factors which cause
actual results to differ. Forward-looking statements contained
herein are made as of the date of this news release and the Company
disclaims any obligation to update any forward-looking statements,
whether as a result of new information, future events or results or
otherwise, except as required by applicable securities laws. There
can be no assurance that forward-looking statements will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. The Toronto Stock Exchange has not reviewed and does
not accept responsibility for the adequacy or accuracy of this
release. DATASOURCE: Rubicon Minerals Corporation CONTACT: Bill
Cavalluzzo, VP-Investor Relations, Toll free: 1-866-365-4706,
E-mail: , http://www.rubiconminerals.com/, Rubicon Minerals
Corporation, Suite 1540-800 West Pender Street, Vancouver BC,
CANADA, V6C 2V6
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