The Gold Report
Notable Quotes
"ICG has closed a CA$2.5M flow-through placement." (12/24/15) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report More >
"The exploration upside at MAG's Juanicipio project is substantial." (12/23/15) MAG Silver Corp. - Gwen Preston, Resource Maven More >
"AKG's management continues to deliver on its development milestones." (12/22/15) Asanko Gold Inc. - Nana Sangmuah, Clarus Securities More >
"We are initiating coverage on KDX with a Buy rating." (12/21/15) Klondex Mines Ltd. - Don Blyth, Paradigm Capital More >
"VIT's Eagle is a shovel-ready, fully permitted, prefinanced gold project." (12/17/15) Victoria Gold Corp. - Tom Hayes, Edison Investment Research More >
Drilling Extends F2 Zone to the Northeast
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TIMOTHY LEE, Salman Partners
(08/31/2009)
"If the F2 Zone continues to grow, Rubicon's share price is likely to have further upside. As a high-grade gold discovery in the heart of the Red Lake camp, the F2 Zone appears to have the characteristics of a future gold mine. The main unknown now is the size of the deposit. With every drill hole that expands the known mineralized zone, Rubicon's discovery looks more like a world-class project. The News: Drilling encounters gold along strike and at depth in F2 Zone. On August 31, Rubicon reported drilling results from its 100%-owned Phoenix Gold Project in the Red Lake area of northwestern Ontario. The results are from holes drilled from surface and underground, largely targeting northeast and southwest extensions of the F2 Zone. Drilling in the northeast encountered multiple intersections of gold mineralization at depths of 150m to 450m within the typical host basalt unit. Highlights include 46.4 g/t gold over 2.0m and 6.4 g/t gold over 6.0m. Drilling in the southwestern extension area also intersected several gold-bearing intervals. Previous drilling had encountered a fault in this area, and the latest drill holes demonstrate that the gold-bearing zone continues across the fault. Implications: These holes extend the F2 Zone along strike, continuing to demonstrate the size potential of this discovery. Although not all intersections had high gold grades, it is not unusual for vein-hosted deposits to exhibit variable grades, and it is now more important to demonstrate that the gold-bearing structure has significant size. Rubicon had previously reported results from regional exploration holes that encountered gold in other areas on the Phoenix property, including the Island Zone, approximately 2km north of the currently defined F2 Zone. Although the relationship between the F2 Zone and these other areas has not yet been determined, these other areas offer evidence that gold mineralization may extend well beyond the area drilled to date." |
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