Wednesday, 27th August 2008 (396 views)

Rubicon Minerals has announced it has encountered a "bonanza" gold grading at its Phoenix gold project in Ontario.

Results one drill hole on the property include 891.1g/t across two metres. According to the company, this may be indicative of a new northern zone.

Previous results in the area include 58.8 g/t of gold across 2.1 metres and 62 g/t of gold across one metre.

This new area is 120 metres from the area where most of the gold has so far been found at the Phoenix project.

In the south of the site, results included eight g/t of gold across 6.1 metres and 10.4 g/t of gold across 2.2 metres.

Further assay results in the south include 17 g/t of gold across 2.5 metres, 13.8 g/t of gold across 2.65 metres and 21.6 g/t of gold across three metres.

Along with the Phoenix property, Rubicon Minerals also has sites in Alaska and Nevada.

 

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