Vancouver — A newly completed 6,300 metre drill program over the McCuaig project, in the Red Lake gold district of northwestern Ontario, has returned some encouraging values for partners Rubicon Minerals (RMX-V) and Golden Tag Resources (GOG-V).
Half of the 26 holes followed up last year’s discovery of 10.54 grams per tonne over 0.55 metre of hole MC01-2. The best results came from hole 32, which yielded 75.9 grams gold per tonne over 0.7 metre from 134.1 metre downhole.
Collared some 35 metres to the southeast, hole 27 cut several narrow intercepts ranging up to 33.2 grams gold over 1 metre followed by a 0.7 metre section running 10.1 grams gold.
Moving 13 metres to the west, hole 17 cut two narrow zones grading 19.6 grams gold over 0.25 metre and 19.3 grams gold over 0.4 metre, respectively.
Some 42 metres southeast of hole 27, hole 7 cut 9.3 grams gold over 0.25 metre from 130.1 metre downhole.
Holes 15, 18, 23, 24, 25, and 30 all hit narrow zones of less than 1 metre grading between 1 and 4.9 grams gold.
Gold mineralization is associated with intensely silicified and deformed ultramafic rocks and quartz-carbonate veins. Sulphide mineralization is common, the principal minerals being pyrrhotite and arsenopyrite, and so is magnetite.
“This discovery is the culmination of a number of years work at McCuaig,” says Rubicon President David Adamson. “We look forward to continued success and will formulate an aggressive exploration plan in the short term.”
With the drilling complete, Rubicon now has a 60% stake in the project with Golden Tag holding the remaining 40%.
Rubicon is also exploring, with AngloGold (AU-N), a group of claims immediately west of McCuaig, near where the gold-bearing structure was discovered. The South African major can earn a 70% interest by funding US$3.2 million worth of exploration and development costs over five years.
In all, Rubicon owns more than 270 sq. km in the Red Lake district.
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