Rubicon cuts high grades at McFinley

A 16,000-metre drill program at the McFinley property near Red Lake, Ont., is beginning to show results for Rubicon Minerals (RMX-T).

Initial results of the program, which is testing mineralization discovered in 2004 called the Phoenix zone, show high-grade gold continues on structural extensions of the zone.

Intersections were mainly in the 1- to 2-metre range, mostly at grades of 2 to 6 grams gold per tonne. The mineralization is in basalt, near the contact between the basalt and an ultramafic intrusion. It makes up a series of overlapping zones, each 25 to 100 metres along strike, which together make up a strike length of 150 metres.

Higher-grade intersections were encountered in some holes, including a 2.15-metre length grading 17.24 grams per tonne, a 1.2-metre length grading 34.17 grams, and a 1.85-metre length grading 9.5 grams.

Two holes cut a previously unknown ankerite-quartz replacement zone in the basalts, with “needle” arsenopyrite grains, common in Red Lake gold occurrences, and some visible gold. Rubicon is awaiting assay results for those intersections.