THIS COULD BE FIRESTEEL ONE DAYRead this news release. This is what we have on the Poker property. I am very excited that exploration is finally on the way. Good luck to every one who has been so patient.
Rubicon Minerals Corp RMX
Shares issued 40,868,175 Sep 2 close $1.03
Wed 3 Sept 2003 News Release
Mr. David Adamson reports
RUBICON OPTIONS GOLDEN PROMISE GOLD PROJECT, NEWFOUNDLAND TO PLACER DOME --
$5 MILLION EARN IN, $700,000 WITHIN SIX MONTHS, INCLUDING DIAMOND DRILLING
Rubicon Minerals has signed an agreement with Placer Dome (CLA) Canada
Ltd., whereby Placer can earn an initial 55-per-cent interest in Rubicon's
extensive 500-square-kilometre Golden Promise gold project located in
north-central Newfoundland. Under the terms of the agreement, Placer must
spend $5-million over a four-year period, including $1.5-million before the
end of 2004 and a firm exploration commitment of $700,000 before the end of
February, 2004. Placer has indicated that diamond drilling will be part of
the exploration program prior to the end of 2003. Rubicon will be the
operator of the project until earn-in is completed.
Rubicon established a large land position at Golden Promise in response to
the discovery in June, 2002, of gold-bearing quartz boulders, which were
subsequently traced back to their local source. Diamond drilling led to the
discovery by Rubicon of a gold-bearing vein or locally, vein system, named
the Jaclyn zone, which is developed over a minimum 225-metre strike length,
has been tested to a vertical depth of only 50 metres below surface and is
open for exploration in all directions. Of 17 holes testing the zone to
date, 15 have intersected visible gold-bearing quartz vein(s). Intercepts
include 17.69 grams per tonne gold over 2.30 metres, 16.57 grams per tonne
gold over 2.00 metres and 14.85 grams per tonne gold over 2.25 metres (see
news in Stockwatch dated Sept. 19 2002, for complete results).
Prospecting during 2002-2003 has led to the discovery of additional
mineralized boulders believed to have been sourced from other veins, which
are, as yet, undiscovered. Information derived from the Jaclyn zone
suggests that the source veins of these angular boulders are likely locally
derived (less than 200 metres from source). To date, the Golden Promise
trend is known to contain six visible gold-bearing float areas including
the Jaclyn drill discovery area. In addition, Rubicon's land position
encompasses an extensive area of anomalous gold in basal till suggesting
that mineralization may be of regional extent.