Drilling resumes at McCuaig (February 10, 2003)

Partners Rubicon Minerals (RMX-V) and Golden Tag Resources (GOG-V) have resumed drilling at the McCuaig property in the Red Lake camp of northeastern Ontario.

The pair will drill upwards of 10,000 metres to test the 1900 and LD zones, discovered in 2001 and 2002, respectively.

Mineralization at each is hosted by intensely silicified ultramafic bodies and associated with disseminated sulphides (pyrrhotite, pyrite and arsenopyrite) and quartz-carbonate veins. Visible gold is common at the 1900 zone.

Past results from the 1900 zone include 76 grams per tonne over 0.7 metre in hole 32 and 25 grams over 1.7 metres in hole 27. The LD zone returned a best result of 0.68 gram over half a metre; however, only six holes were drilled, and a grab sample of outcropping quartz veining yielded a more respectable 7.75 grams.

Rubicon holds a 60% stake in McCuaig; Golden Tag, the remainder. The pair hope to mimic the success of neighbours Goldcorp (G-T) and Placer Dome (PDG-T), owners of the high-grade Red Lake and Campbell mines, respectively, about 1.5 km to the southeast.

The Red Lake district has produced some 24 million oz. from 15 mines since the 1920s. The Red Lake mine began life in 1948 under the name Dickenson and has since become one of the richest and lowest-cost gold producers in the world.