[Most Recent Quotes from www.kitco.com]

Archive for the ‘Rubicon’ Category

Rubicon Reports New High Grade Gold Intercepts From Exploration Drilling at the F2 Gold System, Phoenix Project, Red Lake, Ontario

Again Rubicon has announced excellent drilling results. In these results from yesterday there are many high grade gold intercepts adding more value to the F2 Gold System of Rubicon’s Phoenix Project in the famous Red Lake Area. Just the location of the Rubicon claims in-between well known, high grade mines, was one of the main reasons for us to invest in Rubicon. Still much of the property is unexplored, with more drilling planned in the area, the company has still an unbelievable potential. We bought shares of Rubicon in June 2010 @ CA$3.49 The stock has a 52-week trading range of  CA$3.24-CA$6.50 Today the stock opened @ CA$5.51 this means a 57.8% gain since our buy alert, even so the stock remains an interesting buy at this price.

Rubicon News Release:

-intercepts include 39.43 oz/t gold over 3.6 feet (1351.8 g/t gold over 1.1 metres), 2.07 oz/t gold over 11.5 feet (70.9 g/t gold over 3.5 metres) and 1.46 oz/ton gold over 11.2 feet (50.0 g/t gold over 3.4 metres)

VANCOUVER, Jan. 10 /CNW/ – Rubicon Minerals Corporation (RMX:TSX | RBY:NYSE-AMEX) (“Rubicon”) is pleased to announce further drill results from exploration drilling of the F2 Gold System, part of its 100% owned Phoenix Gold Project in the heart of the prolific Red Lake gold district of Ontario. Results in this release pertain to exploration drilling that is focused outside the area of current delineation drilling which Rubicon reports separately (Figures 1 and 2 and December 21, 2010 news release). The exploration drilling is designed to expand limits of the large F2 Gold System, and is directed at a 1.2 x 1.5 kilometre target area referred to as the ’9X’ target area (See Figure 1). The 9X target area contains a previously announced NI-43-101 compliant, 4.0 million ounce inferred gold resource estimate grading 20.1 g/t gold (0.59 oz/t gold) which includes all drilling up to the end of July, 2010. A total of over 38,000 metres of drilling has been carried out in the 9X target area since July 31, 2010, results from which (including those in the current news release) are not incorporated into the resource estimate.

New results confirm extension into new target areas south of the 9X target area

Several drill holes have extended gold mineralization south of the 9X target area, confirming that the F2 Gold System is present over at least a 600 metre (1970 feet) vertical extent in this area down to a depth of 1357 metres (4452 feet) below surface where it has been drill-tested to date. Signficant results include 2.07 oz/ton gold over 11.5 feet (70.9 g/t gold over 3.5 metres) in hole F2-108 and 39.43 oz/ton gold over 3.6 feet (1351.8 g/t gold over 1.1 metres) in hole F2-108-W1.

These latest holes are significant because they demonstrate that the F2 Gold System geology extends south of the original 9X target area over a considerable vertical extent and that the F2 Gold System continues to be open in all directions for further drilling. A previously reported intercept, located approximately 250 metres below surface (hole PR-10-18 returned 102.7 g/t gold over 0.6 metres), also south of the 9X target area, suggests that the vertical extent of the F2 Gold System could be significant in this area.

Drilling in Target Area 1 continues to extend gold mineralization

A number of holes were completed between depths of approximately 350 metres to 550 metres below surface in target area 1 (Figure 2 and Table 1). These include numerous high-grade intercepts such at 1.46 oz/ton gold over 11.2 feet (50.0 g/t gold over 3.4 metres) in hole 305-39, and 1.31 oz/t gold over 6.9 feet (45.0 g/t gold over 2.1 metres) in drill hole 305-47 (see Table 1 and Figures 1 and 2 for complete results).

These results are significant because they show that the F2 Gold System below the current area of delineation drilling is well developed and is likely to be amenable to future delineation drilling. As well, it provides confidence that the F2 Gold System will continue to fill in at greater depths (target areas 2 and 7) where drilling is currently wider spaced.

“These latest results continue to demonstrate both the very high hit ratio of holes drilled to date since discovery in 2008 as well as the continued presence of significant high-grade gold in newly tested areas. Of particular note is the extension of the system south of the already large 9X target area which bodes well for further expansion of the F2 Gold System,” stated David Adamson, President and CEO.

Rubicon Minerals Corporation is a well-funded exploration and development company, focused on exploring and developing its high-grade gold discovery at its Phoenix Gold Project in Red Lake, Ontario. Rubicon controls over 100 square miles of prime exploration ground in the prolific Red Lake gold district of Ontario which hosts Goldcorp’s high-grade, world class Red Lake Mine.

RUBICON MINERALS CORPORATION
“David W. Adamson”
President & CEO

Table 1:  Assay Results

Hole Elevation Gold
(g/t)
Width
(m)
Gold
(oz/ton)
Width
(ft)
9X Target
Area
F2-107 676 3.0 22.5 0.09 73.8 5
Incl. 667 7.1 5.0 0.21 16.4 5
And Incl. 669 18.4 1.0 0.54 3.3 5
F2-108 888 70.9 3.5 2.07 11.5 South of 9X
Incl. 887 245.0 1.0 7.15 3.3 South of 9X
F2-108 975 10.8 1.0 0.32 3.3 South of 9X
F2-108-W1 730 9.2 1.2 0.27 3.9 South of 9X
F2-108-W1 1357 1351.8 1.1 39.43 3.6 South of 9X
F2-109 Anomalous
F2-110 250 3.9 5.8 0.11 19.0 4
F2-111 No Significant Assays
F2-112 719 16.1 1.0 0.47 3.3 South of 9X
F2-113 Anomalous
122-74 1025 19.0 1.0 0.55 3.3 5
122-74 1075 22.1 2.0 0.64 6.6 5
Incl. 1076 34.4 1.0 1.00 3.3 5
122-74 1207 11.7 1.0 0.34 3.3 8
122-75 No Significant Assays
305-20 Anomalous
305-22 No Significant Assays
305-23 307 8.5 1.4 0.25 4.6 1
305-24 Anomalous
305-25 Anomalous
305-26 No Significant Assays
305-27 287 37.8 3.0 1.10 9.8 1
Incl. 287 102.0 1.0 2.98 3.3 1
305-29 301 6.0 2.0 0.18 6.6 1
305-30 459 5.4 7.0 0.16 23.0 1
Incl. 460 11.9 2.0 0.35 6.6 1
305-31 432 7.7 2.2 0.22 7.2 1
305-32 583 3.0 6.0 0.09 19.7 1
305-33 503 5.1 3.0 0.15 9.8 1
Incl. 502 14.6 0.9 0.43 3.0 1
305-34 255 3.9 3.0 0.11 9.8 1
305-35 297 6.9 5.0 0.20 16.4 1
Incl. 297 19.6 1.5 0.57 4.9 1
305-35 298 6.3 1.8 0.18 5.9 1
305-35 308 5.7 6.1 0.17 20.0 1
Incl. 308 16.8 1.0 0.49 3.3 1
305-35 309 3.5 3.1 0.10 10.2 1
305-35 312 4.4 3.9 0.13 12.8 1
305-36 342 3.2 19.0 0.09 62.3 1
Incl. 340 13.9 1.0 0.41 3.3 1
Incl. 346 24.7 1.0 0.72 3.3 1
305-36 362 4.7 8.5 0.14 27.9 1
Incl. 360 16.6 1.5 0.48 4.9 1
305-37 Anomalous
305-38 326 3.9 6.0 0.11 19.7 1
Incl. 325 12.7 1.0 0.37 3.3 1
305-38 333 14.6 2.2 0.43 7.2 1
305-39 394 5.4 13.0 0.16 42.6 1
Incl. 394 18.8 2.0 0.55 6.6 1
305-39 417 6.0 4.0 0.18 13.1 1
Incl. 416 12.8 1.6 0.37 5.2 1
305-39 451 50.0 3.4 1.46 11.2 1
Incl. 451 160.5 1.0 4.68 3.3 1
305-39 475 5.5 3.4 0.16 11.2 1
305-39 526 12.8 1.0 0.37 3.3 1
305-40 947 14.8 1.0 0.43 3.3 2
305-40 975 7.3 2.0 0.21 6.6 2
Incl. 975 12.2 1.0 0.36 3.3 2
305-41 388 36.3 2.0 1.06 6.6 3
Incl. 388 71.5 1.0 2.09 3.3 3
305-42 No Significant Assays
305-43 1157 7.7 12.1 0.22 39.7 7
Incl. 1155 11.9 4.5 0.35 14.8 7
305-44 553 9.0 1.2 0.26 3.9 2
305-45 671 5.3 3.0 0.15 9.8 2
Incl. 670 24.1 0.5 0.70 1.6 2
305-46 973 11.6 2.0 0.34 6.6 2
305-46 986 5.6 5.8 0.16 19.0 2
Incl. 985 13.8 2.0 0.40 6.6 2
305-47 394 45.0 2.1 1.31 6.9 1
Incl. 394 90.0 1.0 2.63 3.3 1

Holes with the prefix ’122′ and ’305′ were drilled from underground. Assays are uncut. Reported results satisfy the following criteria: >10.0 gram gold x metre product and >3.0 g/t gold. Anomalous holes satisfy the following criteria:  >2.5 gram gold x metre product and < 10.0 gram gold x metre product and > 2 g/t gold. A complete listing of results to date for the F2 Zone is available at www.rubiconminerals.com.

To vew Figure 1: F2 Gold System Plan Map see:

http://files.newswire.ca/617/Figure1F2GoldSystem.pdf

To View Figure 2: Composite Long Section Looking Northwest and 9X Target Outlines see:

http://files.newswire.ca/617/Figure2Composite.pdf

Assaying and Qualified Person
Drill core assays were conducted on sawn NQ-sized half core sections. Delineation drilling intercepts represent horizontal thickness which at this time is interpreted to be true thickness. The saw blade is routinely cleaned between samples when visible gold is noted during logging and sampling of the drill core. Assays from underground are conducted on face samples that employ a panel sample technique. This technique marks out intervals on the face or walls defined by geological or mineralogical boundaries taking no more than a one metre square for any panel. All assays were conducted by SGS Minerals Services using standard fire assay on a 30 gram (1 assay ton) sample with a gravimetric finish procedure. Assays are uncut as is standard practice in Red Lake. Standards, blanks and check assays were included at regular intervals in each sample batch. Check assays on 5% of samples are carried out at a third party independent laboratory. Gold standards were prepared by CDN Resource Laboratories Ltd. Drill work programs in this release were supervised by Terry Bursey, P.Geo. Regional Manager for Rubicon and the project exploration Qualified Person under the definition of NI 43-101.

Forward Looking Statements
This news release contains statements that constitute “forward-looking statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934 and “forward looking information” within the meaning of applicable Canadian provincial securities legislation (collectively, “forward-looking statements”). Forward-looking statements often, but not always, are identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “targeting” and “intend” and statements that an event or result “may”, “will”, “should”, “could”, or “might” occur or be achieved and other similar expressions. Forward-looking statements in this document include statements regarding the timing and nature of future exploration programs which are dependent on projections which may change as drilling continues, or if unexpected ground conditions are encountered. In addition, areas of exploration potential are identified which will require substantial drilling to determine whether or not they contain similar mineralization to areas which have been explored in more detail. The description of the extent of mineralized zones is not intended to imply that any economically mineable estimate of reserves or resources exists on the Phoenix project. Similarly, although geological features of the F2 Gold System are interpreted to show similarities to nearby gold producing mines owned by third parties, this should not be interpreted to mean that the F2Gold System has, or that it will, generate similar reserves or resources. Significant additional drilling is required at F2 to fully understand system size.

The forward-looking statements that are contained in this news release are based on various assumptions and estimates by the Company and involve a number of risks and uncertainties. As a consequence, actual results might differ materially from results forecast or suggested in these forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause the actual results to differ include market prices, results of exploration, availability of capital and financing on acceptable terms, inability to obtain required regulatory approvals, unanticipated difficulties or costs in any rehabilitation which may be necessary, market conditions and general business, economic, competitive, political and social conditions. These statements are based on a number of assumptions, including assumptions regarding general market conditions, timing and receipt of regulatory approvals, the ability of the Company and other relevant parties to satisfy regulatory requirements, the availability of financing for proposed transactions and programs on reasonable terms and the ability of third-party service providers to deliver services in a timely manner. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements, there may be other factors which cause actual results to differ.

Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Source: Company website

Rubicon Commences Bulk Sample and Updates Delineation Drilling F2 Gold System, Phoenix Project, Red Lake, Ontario

Today Rubicon announced more results from its Phoenix Project in Red Lake, Ontario. The project really lives up to  “Red Lake Standard”.  We boughs shares of Rubicon last July @ CA$3.49 using today’s intra-day high of CA$5.69 this means a 63% gain in just 5 months!

Rubicon News Release:

VANCOUVER, Dec. 21 /CNW/ – Rubicon Minerals Corporation (RMX:TSX | RBY:NYSE-AMEX) (“Rubicon”) is pleased to announce that bulk sampling has commenced within the core area of the F2 Gold System. Delineation drilling is being carried out in the core part of the previously announced NI 43-101 4.0 million ounce inferred gold resource estimate grading 20.1 g/t gold (0.59 oz/t gold). The bulk sampling has been initiated on one of the newly identified sub-zones (the “WLB2 Zone”) within the F2 Core Zone area, approximately 300 metres below surface. The northeast-trending WLB2 Zone (Figure 1) has been successfully defined by 18 drill holes over a strike length of 55 metres and 20 metres vertically (the limit of current delineation drilling). Previous, wider spaced drilling in this area suggests a minimum depth potential of 230 metres which remains open both up and down dip.

Definition holes are at a nominal spacing of 7.5 metres and have a horizontal length-weighted average gold grade of 1.07 oz/ton gold over 6.6 feet (36.6 g/t gold over 2.0 metres) horizontal width (see Table 1 for additional assay results from the WLB2 zone). It is estimated that a bulk sample of approximately 1000 tonnes will be extracted from the WLB2 Zone from which grade reconciliation and metallurgical work will be completed during Q1, 2011.

A second, 1000 tonne bulk sample will be taken early in 2011 from one or more of the central area sub-zones currently being defined on the same level (Figure 1).  Based on observations from underground mapping and sampling, drilling, and advice from metallurgical consultants Soutex Ltd., bulk samples from separate zones are preferred to a single sample from one zone in order to allow an assessment of potential differences between individual zones. Metallurgical test work on this bulk sample will also be completed during Q1, 2011.

WLB2 area

In the 360 cross cut in the WLB2 Zone (Figure 1), systematic face sampling indicates an average grade in two separate rounds taken of 0.86 oz/ton gold (29.4 g/t gold) and 0.35 oz/ton (11.96 g/t gold) gold, respectively from face and wall panel samples covering an area of 7.3 metres in length x 3.0 metres in height (24 x 10 feet) each round. This area was cut by a previous delineation drill hole which graded 6.7 g/t gold over 6.3 metres including 17.4 g/t gold over 1.5 metres. The systematic face sampling represents a volumetrically more significant sample compared to the single drill hole in this area.

Central area drilling

Definition drilling in this area is ongoing and is being extended to test for the presence of additional NW-trending (F2) zones within a NE trending (F1) mineralized corridor (Figure 1). Significant assays include drill hole D305-04-027 intercept 1.14 oz/t gold over 16.4 feet (39.1 g/t gold over 5.0 metres), drill hole D305-04-028 intercept 1.55 oz/t gold over 36.1 feet (53.3 g/t gold over 11.0 metres) and drill hole D305-05-023 intercept 15.88 oz/t gold over 7.5 feet (544.5 g/t gold over 2.3 metres). To date, multiple visible gold bearing zones have been identified that are oriented in both the F1 and F2 directions. A tabulated summary of results is presented in Table 2. When previous, wider spaced drilling is incorporated (see compilation plan map – Figure 1), mineralization in the central area can currently be inferred for approximately 300 metres vertically. Where delineation drilling has taken place, new sub-zones are being intersected where previously no holes were present or where only low grade gold was present. Future delineation drilling will test if this pattern repeats to depth.

“Although it is early days, we are encouraged that we are seeing more gold zones in the area of our drift and cross-cuts and also in our delineation drill holes than had been suggested by our initial wider spaced drilling. We are seeing clear evidence of at least two major structural trends both of which can host visible and high-grade gold. The zones we are defining are of similar dimensions to those documented from the Red Lake Mine and, based on drilling to date, they have good potential to continue to depth,” stated David Adamson, President and CEO.

Rubicon Minerals Corporation is a well-funded exploration and development company, focused on exploring and developing its high-grade gold discovery at its Phoenix Project in Red Lake, Ontario. Rubicon controls over 100 square miles of prime exploration ground in the prolific Red Lake gold district of Ontario which hosts Goldcorp’s high-grade, world class Red Lake Mine.

RUBICON MINERALS CORPORATION
“David W. Adamson”
President & CEO

Table 1:  WLB2 Zone Delineation Drilling Assay Results

Hole Elevation
Level
Gold
(g/t)
Width
(m)
Gold
(oz/ton)
Width
(ft)
9X
Target
Area
D305-05-013* 304 17.0 1.8 0.50 5.9 1
303 5.6 3.6 0.16 11.8 1
303 26.5 1.0 0.77 3.3 1
D305-05-014* 302 669.1 0.8 19.52 2.6 1
D305-05-015* 303 5.2 4.1 0.15 13.4 1
D305-05-016* 295 568.9 2.5 16.59 8.2 1
Incl. 295 1406.8 1.0 41.03 3.3 1
D305-05-017* 304 6.7 6.3 0.20 20.7 1
Incl. 304 17.4 1.5 0.51 4.9 1
And Incl. 304 38.5 0.5 1.12 1.6 1
D305-05-018* Anomalous
D305-05-019* Anomalous
D305-05-020* 297 93.8 2.0 2.74 6.6 1
Incl. 297 183.0 1.0 5.34 3.3 1
D305-05-037 303 13.6 1.7 0.40 5.6 1
302 8.7 1.5 0.25 4.9 1
D305-05-038 Anomalous
D305-05-039 300 9.8 5.5 0.29 18.0 1
Incl. 301 20.8 1.9 0.61 6.2 1
D305-05-040 Anomalous
D305-05-041 Anomalous
D305-05-042 302 78.6 0.5 2.29 1.6 1
D305-05-043 283 19.5 2.0 0.57 6.6 1
Incl. 282 39.5 1.0 1.15 3.3 1
D305-05-044 292 16.2 1.0 0.47 3.3 1
D305-05-045 293 7.8 2.0 0.23 6.6 1
Incl. 293 13.5 1.0 0.39 3.3 1
D305-05-046 293 5.1 4.0 0.15 13.1 1
289 5.4 3.8 0.16 12.5 1
Incl. 288 14.1 0.9 0.41 3.0 1

*previously released results

Holes with the prefix ‘D305′were drilled from underground on the 305 metre level and are part of the delineation program. Assays are uncut. Reported results satisfy the following cut-off criteria: An intercept equal to or greater than 10 g/t gold (gram) x (metre) product value and possessing an average grade of equal to or greater than 5.0 g/t gold.

Anomalous holes satisfy the following criteria:  >2.5 gram gold x metre product and > 2 g/t gold.  A complete listing of results to date for the F2 Gold System is available at www.rubiconminerals.com.

Table 2:  Central Area Delineation Drilling Assay Results

Hole Elevation
Level
Gold
(g/t)
Width
(m)
Gold
(oz/ton)
Width
(ft)
9X
Target
Area
D305-04-021 Anomalous
D305-04-023 Anomalous
D305-04-023 251 24.2 1.4 0.71 4.6 1
Incl. 251 36.3 0.9 1.06 3.0 1
D305-04-023 226 5.3 4.0 0.15 13.1 1
D305-04-024 248 14.8 2.0 0.43 6.6 1
Incl. 248 27.6 1.0 0.81 3.3 1
D305-04-024 242 178.0 0.7 5.19 2.3 1
218 6.1 4.0 0.18 13.1 1
Incl. 217 18.3 1.0 0.53 3.3 1
D305-04-024 209 6.2 5.0 0.18 16.4 1
Incl. 210 16.3 1.0 0.48 3.3 1
D305-04-026 231 126.4 0.5 3.69 1.6 1
D305-04-027 103 39.1 5.0 1.14 16.4 1
Incl. 104 361.8 0.5 10.55 1.6 1
D305-04-028 326 53.3 11.0 1.55 36.1 1
Incl. 327 92.9 6.1 2.71 20.0 1
And Incl. 327 162.5 3.2 4.74 10.5 1
And Incl. 328 676.7 0.7 19.74 2.3 1
D305-04-029 Anomalous
D305-05-021 303 6.0 14.8 0.18 48.6 1
Incl. 303 16.3 1.8 0.48 5.9 1
303 31.8 1.0 0.93 3.3 1
D305-05-022 295 5.1 4.5 0.15 14.8 1
Incl. 293 19.7 1.5 0.57 4.9 1
And Incl. 293 26.8 1.0 0.78 3.3 1
293 11.4 2.9 0.33 9.5 1
D305-05-023 308 11.1 1.1 0.32 3.6 1
309 5.0 14.0 0.15 45.9 1
Incl. 309 15.2 2.0 0.44 6.6 1
311 5.0 2.2 0.15 7.2 1
311 544.5 2.3 15.88 7.5 1
Incl. 311 1240.9 1.0 36.19 3.3 1
312 20.8 4.0 0.61 13.1 1
Incl. 312 34.7 2.0 1.01 6.6 1
D305-05-024 303 5.3 5.0 0.15 16.4 1
Incl. 303 13.1 1.5 0.38 4.9 1
303 6.0 4.0 0.18 13.1 1
Incl. 303 19.5 1.0 0.57 3.3 1
D305-05-025 298 7.3 4.9 0.21 16.1 1
Incl. 298 39.5 0.7 1.15 2.3 1
D305-05-026 308 8.1 2.0 0.24 6.6 1
Incl. 308 13.9 1.0 0.41 3.3 1
311 11.9 15.1 0.35 49.5 1
Incl. 311 56.7 3.0 1.65 9.8 1
D305-05-027 303 25.9 1.0 0.76 3.3 1
D305-05-028 296 10.1 1.0 0.29 3.3 1
293 22.4 3.0 0.65 9.8 1
Incl. 293 41.8 1.5 1.22 4.9 1
D305-05-028 292 5.1 7.0 0.15 23.0 1
Incl. 292 11.3 2.0 0.33 6.6 1
D305-05-029 310 9.1 6.5 0.27 21.3 1
Incl. 310 29.4 1.5 0.86 4.9 1
311 15.1 1.0 0.44 3.3 1
313 28.6 6.1 0.83 20.0 1
Incl. 313 162.0 1.0 4.73 3.3 1
315 74.8 3.0 2.18 9.8 1
Incl. 315 217.3 1.0 6.34 3.3 1
D305-05-030 Anomalous
D305-05-031 Anomalous
D305-05-032 Anomalous
D305-05-047 300 5.0 2.6 0.15 8.5 1

Holes with the prefix ‘D305′were drilled from underground on the 305 metre level and are part of the delineation program. Assays are uncut. Reported results satisfy the following cut-off criteria: An intercept equal to or greater than 10 g/t gold (gram) x (metre) product value and possessing an average grade of equal to or greater than 5.0 g/t gold.

Anomalous holes satisfy the following criteria:  >2.5 gram gold x metre product and > 2 g/t gold.  A complete listing of results to date for the F2 Gold System is available at www.rubiconminerals.com.

Figure 1:  Plan Map of Central and WBL2 Areas of Drilling
(Results included for the 103 through 328 metre levels)

To view map please visit: http://files.newswire.ca/617/CentralAndWBL2.pdf

Assaying and Qualified Person

Drill core assays were conducted on sawn NQ-sized half core sections. Delineation drilling intercepts represent horizontal thickness which at this time is interpreted to be true thickness. The saw blade is routinely cleaned between samples when visible gold is noted during logging and sampling of the drill core. Assays from underground are conducted on face samples that employ a panel sample technique. This technique marks out intervals on the face or walls defined by geological or mineralogical boundaries taking no more than a one metre square for any panel. All assays were conducted by SGS Minerals Services using standard fire assay on a 30 gram (1 assay ton) sample with a gravimetric finish procedure. Assays are uncut as is standard practice in Red Lake. Standards, blanks and check assays were included at regular intervals in each sample batch. Check assays on 5% of samples are carried out at a third party independent laboratory. Gold standards were prepared by CDN Resource Laboratories Ltd. Drill work programs in this release were supervised by Terry Bursey, P.Geo. Regional Manager for Rubicon and the project exploration Qualified Person under the definition of NI 43-101. Bulk sample and underground face panel sampling programs in this release were supervised by Eric Hinton, P.Eng, Project Manager for Rubicon and the operations Qualified Person under the definition of the NI 43-101.

Forward Looking Statements

This news release contains statements that constitute “forward-looking statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934 and “forward looking information” within the meaning of applicable Canadian provincial securities legislation (collectively, “forward-looking statements”) . Forward-looking statements often, but not always, are identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “targeting” and “intend” and statements that an event or result “may”, “will”, “should”, “could”, or “might” occur or be achieved and other similar expressions. Forward-looking statements in this document include statements regarding the timing and nature of future exploration programs which are dependent on projections which may change as drilling continues, or if unexpected ground conditions are encountered. In addition, areas of exploration potential are identified which will require substantial drilling to determine whether or not they contain similar mineralization to areas which have been explored in more detail. The description of the extent of mineralized zones is not intended to imply that any economically mineable estimate of reserves or resources exists on the Phoenix project. Similarly, although geological features of the F2 Gold System are interpreted to show similarities to nearby gold producing mines owned by third parties, this should not be interpreted to mean that the F2Gold System has, or that it will, generate similar reserves or resources. Significant additional drilling is required at F2 to fully understand system size.

The forward-looking statements that are contained in this news release are based on various assumptions and estimates by the Company and involve a number of risks and uncertainties. As a consequence, actual results might differ materially from results forecast or suggested in these forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause the actual results to differ include market prices, results of exploration, availability of capital and financing on acceptable terms, inability to obtain required regulatory approvals, unanticipated difficulties or costs in any rehabilitation which may be necessary, market conditions and general business, economic, competitive, political and social conditions. These statements are based on a number of assumptions, including assumptions regarding general market conditions, timing and receipt of regulatory approvals, the ability of the Company and other relevant parties to satisfy regulatory requirements, the availability of financing for proposed transactions and programs on reasonable terms and the ability of third-party service providers to deliver services in a timely manner. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements, there may be other factors which cause actual results to differ.

Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Source: Company website

Rubicon Announces 4.0 Million Ounce Inferred Gold Resource Estimate Grading 20.1 g/t gold (0.59 oz/ton gold) at its Phoenix Gold Project, Red Lake, Ontario

Today Rubicon announced the results of the Geoex Limited research of the Phoenix Gold Project. These results are no surprise to us, many investors seemed  to be surprised, since the stock gained 33,26% today! We bought Rubicon in July of this year at a price of CAD$3,49 at today’s closing of CAD$6,13 meaning a 75,6% gain. We are not selling Rubicon. We expect the company to ad value for it’s shareholders for years to come. Production at the Phoenix Gold Project will able the company to aggressively explore their other projects, and thereby adding even  more to their inferred resources.

Rubicon News Release:

- Total geological potential of F2 Gold System 13.3 to 16.1 million ounces grading 24.4 to 26.8 g/t -

TORONTO, Nov. 29 /CNW/ – Rubicon Minerals Corporation (RMX:TSX | RBY:NYSE-AMEX) (“Rubicon”) is pleased to provide a NI 43-101 compliant inferred mineral resource estimate for the F2 Gold System, part of its 100%-owned Phoenix Gold Project located in the heart of the prolific Red Lake Gold District of Ontario. The estimate is summarized below:

Inferred Resource
(5 g/t cutoff & 10 gram x metre product minimum)
Tonnes Grade (g/t) Grade (oz/ton) Contained ounces
Total Inferred Resource 6,200,000 20.1 0.59 4,007,000

The inferred mineral resource estimate was prepared by Geoex Limited. (“Geoex”) based on 166,886 metres of diamond drilling in 237 drill holes carried out between February 27, 2008 (the date of the initial discovery) and July 31, 2010. The estimate does not include approximately 41,702 metres of drilling completed since July 31, 2010. The inferred resource estimate was prepared using the polygonal calculation method (see below for details) which, in the opinion of Geoex, is the appropriate method and is typically used for this type of deposit. The cut-off used is considered to be an economically reasonable estimate of breakeven mining costs.

“We are very pleased with these initial results. They demonstrate that the F2 Gold System is already a significant sized gold deposit. Importantly, the gold grade of 20.1 g/t gold is high compared to most major gold deposits around the world and is consistent with the overall Red Lake camp average grade, which is Red Lake’s key advantage. Our objective now, through our ongoing delineation program is to upgrade part of this large inferred resource, move towards development and to continue to expand the gold system. Underground development on the project has already cross-cut mineralized zones at the 305 metre level and delineation drilling is underway. Photographs of the new zones are available on the Company website at www.rubiconminerals.com.” stated David Adamson, President and CEO.

Geological Potential

In addition to the above referenced inferred resource estimate, Geoex carried out an evaluation of geological potential based on an analysis of the distribution of current drilling (strike length of 898 meters as of July 31,2010) and opportunity for infill and expansion drilling to depth. The system remains open along strike and to depth beyond the current limit of drilling.

The geological potential is based on the projection and extrapolation of the inferred resource present between 0 to 500 metres below surface as this area is considered well drilled and contains an inferred resource of 3,400,000 tonnes containing 2,680,000 oz at 24.4 g/t or 0.71 oz/ton. In the area between 500 and 1500 metres below surface, drilling is wider spaced and thus large parts of the system in this area have not been adequately drill tested, however, in the opinion of Geoex, based on a review of project data, experience from elsewhere in Red Lake and general observations on lode gold deposits, the grade and tonnage profile of the area above 500 metres is likely to be replicated to depth with additional drilling. The results of this analysis are summarized in the table below:

Depth Potential Tonnes Potential Grade Potential Ounces
Above 500m (well drilled) 3,400,000 to 3,700,000 24.4 to 26.8 g/t 2,680,000 to 3,190,000
500-1500 metres (wide spaced drilling) 6,800,000 to 7,500,000 24.4 to 26.8 g/t 5,330,000 to 6,460,000
1500-2500 metres (no drilling – open) 6,800,000 to 7,500,000 24.4 to 26.8 g/t 5,330,000 to 6,460,000
Total to 2500 metres (open at depth) 17,000,000 to 18,700,000 24.4 to 26.8 g/t 13,340,000 to 16,110,000

The potential tonnages, grades and ounces set forth in the analysis of geological potential are conceptual in nature, as there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

“From the early days of the discovery, we have always recognized that we are exploring a very robust and large mineralizing system, which is why we have dedicated significant drilling efforts to the 9X target area. As suggested by Geoex, the current 4.01 million ounce inferred gold resource may be only a small part of the overall gold potential of the F2 Gold System. Large areas remain to be infill-drilled and the system is open in all directions. We should also point out, we own 40% of the exploration real estate in Red Lake giving us a unique opportunity to find the next F2 Gold Deposit,” stated David Adamson, President and CEO.

Geoex will prepare an NI 43-101 compliant technical report in respect of the inferred resource estimate and geological potential discussed in this release which Rubicon will file on SEDAR within 45 days of the date this release was disseminated, and plans to complete a Preliminary Economic Assessment in respect of the F2 Gold System by the end of Q1, 2011.

Resource Calculation Methodology

The construction of the polygonal and block models was a product of collaboration between Rubicon and Geoex. Rubicon personnel included Matt Wunder P.Geo, V.P. Exploration and Eric Hinton P.Eng., Project Manager. All data in the resource evaluation were reviewed by Geoex with Mr. Peter George of Geoex assuming responsibility for the resource and geological potential estimates upon which the statements reported herein are based.

Polygonal Resource calculation

Source assay data were audited by a third party consulting firm (IoGlobal) specializing in data management and QA/QC analysis and composite intervals were calculated utilizing a minimum three and also a five gram cut-off and minimum 10 gram times metre product for all F2 system data to July 31, 2010. No top cut was applied to the data because, in the opinion of Geoex there is insufficient geostatistical data to properly determine an accurate top cut value at this time.   The X, Y and Z centroid points were calculated and horizontal thickness for each composite interval was calculated utilizing a set of east-west cross sections (local mine grid). The composite intervals were classified by geological unit and centroid points for each composite interval were plotted on long sections for each geological domain utilizing AMine software. Individual zones were then interpreted in AMine.

The interpretation is largely based on a series of detailed cross sections confirming geological continuity vertically down dip and along strike (mine grid north-south).  Polygons were plotted on long sections for each sub zone with ellipse parameters for the inferred resource of 75 metre vertical radius and 37.5 metre horizontal radius. Polygons were clipped where overlapping, clipped where the claim boundary and 15 metres below where the lake bottom surface was contacted.  Polygon areas were calculated for each centroid point, horizontal thickness was applied to determine the volume, a specific gravity (“SG”) of 2.85 g/cm3 was applied, being derived from the average SG in preliminary metallurgical studies (see news release dated October 19, 2010). The volume of each polygon was calculated and assigned a gold grade. The sum of the polygons constitutes the inferred resource.

Block Model calculation

In addition to the polygonal resource calculation, as a means of validating the inferred resource estimate by an independent method, a block model was calculated utilizing Surpac software resulting in 5,830,000 tonnes, 3,210,000 ounces at 17.2 g/t or 0.50 opt. The block model results are within 6.7% of the tonnage, 17.1% of the contained ounces and 24.9% of the grade of the polygonal estimate (6,200,000 tonnes, 4,007,000 ounces at 20.1g/t gold or 0.59 opt). While Geoex does not consider the block model the most appropriate method for this type of deposit, the results are considered to provide strong supporting validation for the preferred polygonal estimate reported above. It should be noted that the block model results do not differ significantly regardless of whether a northeast (East Bay trend) or northwest (F2 trend) oriented search ellipse is used in the block model.

Data were audited prior to completion of the block model. For this inferred resource estimate, the data were treated as one domain. Assay data were composited at 1.0 metre intervals (no top cut was applied) and variogram analysis was completed. Two times the variogram range was utilized for oriented search ellipse parameters (list parameters) for the inferred resource calculation.  A block size of 2m (E-W) by 4m (N-S) by 12m (vertical) was selected through an optimization process. Data were constrained by the lake bottom surface, the claim boundary and a western boundary was included to exclude any unrelated drilling carried out prior to February 2008. A SG of 2.85 g/cm3 was utilized.

Rubicon is a well-funded exploration and development company, focused on exploring and developing its high-grade gold discovery at its Phoenix Project in Red Lake, Ontario. Rubicon controls over 100 square miles of prime exploration ground in the prolific Red Lake gold district of Ontario which hosts Goldcorp’s high-grade, world class Red Lake Mine.

RUBICON MINERALS CORPORATION
“David W. Adamson”
President & CEO

Mineral resources that are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues. The quantity and grade of reported inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category. The mineral resources in this press release were estimated using CIM Standards.

Qualified Persons

Rubicon has implemented a rigorous QA/QC program to ensure best practices in the sampling and analysis of drill core.  Assays were conducted on sawn NQ-sized half core sections. Delineation drilling intercepts represent true horizontal width. The saw blade is routinely cleaned between samples when visible gold is noted during logging and sampling of the drill core. Assays were conducted by SGS Minerals Services using standard fire assay on a 30 gram (1 assay ton) sample with a gravimetric finish procedure. Assays are uncut as is standard practice in Red Lake. Standards, blanks and check assays were included at regular intervals in each sample batch. Check assays on 5% of samples are carried out at a third party independent laboratory. Gold standards were prepared by CDN Resource Laboratories Ltd.  Exploration drill programs and all data forming the basis of the inferred resource estimate described in this release were supervised and verified by Terry Bursey, P.Geo,. Regional Manager for Rubicon and a Qualified Person as defined by NI 43-101.  All data required for the block calculation described in this release was prepared and verified by Eric Hinton, P.Eng, Project Manager of Rubicon and a Qualified Person as defined by NI 43-10.  The inferred resource estimate, including the polygonal resource calculation and the block model calculation, and the geological potential analysis were prepared by Peter George, P.Geo., President and consulting geologist of Geoex, an independent Qualified Person as defined by NI 43-101, and he verified all data received from Rubicon in connection with same.

Cautionary Note to U.S. Readers Regarding Estimates of Measured, Indicated and Inferred Resources

This press release uses the term “inferred resources.”  We advise U.S. investors that while this term is recognized and required by Canadian regulations, it is not recognized by the SEC. “Inferred resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility.  It cannot be assumed that all or any part of an “inferred mineral resource” will ever be upgraded to a higher category. Under Canadian rules, estimates of “inferred mineral resources” may not form the basis of a feasibility study or prefeasibility studies, except in rare cases.  The SEC normally only permits issuers to report mineralization that does not constitute “reserves” as in-place tonnage and grade without reference to unit measures.  The term “contained gold ounces” used in this press release is not permitted under the rules of the SEC. U.S. investors are cautioned not to assume that any part or all of a measured, indicated or inferred resource exists or is economically or legally mineable.

Forward Looking Statements
This news release contains statements that constitute “forward-looking statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934 and “forward looking information” within the meaning of applicable Canadian provincial securities legislation (collectively, “forward-looking statements”) . Forward-looking statements often, but not always, are identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “targeting” and “intend” and statements that an event or result “may”, “will”, “should”, “could”, or “might” occur or be achieved and other similar expressions. Forward-looking statements in this document include statements regarding estimates of mineral resources, estimates of gold grades and in-place ounces, the preparation and timing of a technical report in respect of the inferred resource estimate and the proposed Preliminary Economic Assessment and the timing and nature of future exploration programs.  Our exploration programs are dependent on projections which may change as drilling continues, or if unexpected ground conditions are encountered. In addition, areas of exploration potential are identified which will require substantial drilling to determine whether or not they contain similar mineralization to areas which have been explored in more detail. The description of the extent of mineralized zones is not intended to imply that any economically mineable estimate of reserves or resources exists on the Phoenix project. Similarly, although geological features of the F2 Gold System are interpreted to show similarities to nearby gold producing mines owned by third parties, this should not be interpreted to mean that the F2Gold System has, or that it will generate similar reserves or resources. Significant additional drilling is required at F2 to fully understand system size before a meaningful resource calculation can be completed.

The forward-looking statements that are contained in this news release are based on various assumptions and estimates by Rubicon and involve a number of risks and uncertainties. As a consequence, actual results might differ materially from results forecast or suggested in these forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of Rubicon to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause the actual results to differ include; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; uncertainties concerning reserve and resource estimates; results of exploration, availability of capital and financing on acceptable terms, inability to obtain required regulatory approvals, unanticipated difficulties or costs in any rehabilitation which may be necessary, market conditions and general business, economic, competitive, political and social conditions. These statements are based on a number of assumptions, including assumptions regarding general market conditions, timing and receipt of regulatory approvals, the ability of Rubicon and other relevant parties to satisfy regulatory requirements, the availability of financing for proposed transactions and programs on reasonable terms and the ability of third-party service providers to deliver services in a timely manner. Although Rubicon has attempted to identify important factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements, there may be other factors which cause actual results to differ. Forward-looking statements contained herein are made as of the date of this news release and Rubicon disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Source: Company website

Rubicon Minerals Announces Initial Delineation Drill Results From the F2 Core Zone within the F2 Gold System, Red Lake, Ontario

Great drill results from Rubicon! Rubicon continuous to build its proven resources and thus building more value for its shareholders. We bought Rubicon in July @ CAD$3,49 Using yesterday’s close of CAD$4,10 this means a 17,4% gain. When you just have a look at the great history of the Red Lake district in Ontario you would expect results like this to keep coming.

Rubicon Press Release:

- includes 16.59 oz/ton gold over 8.2 feet in newly identified northeast-trending subzone -

- cross-cuts expose F2 Core Zone and separate northwest hanging wall zone -

TSX:RMX | NYSE AMEX:RBY

VANCOUVER, Nov. 17 /CNW/ – Rubicon Minerals Corporation (RMX:TSX | RBY:NYSE-AMEX) is pleased to provide an update on its underground delineation drill program being carried out on part of the F2 Core Zone, part of the F2 Gold System at its 100%-owned Phoenix Gold Project located in the heart of the prolific Red Lake Gold District of Ontario. The results below pertain to the initial 4,277 metres of a 27,000 metre delineation drill program. In addition, Rubicon is carrying out approximately 40,000 metres of exploration drilling in the larger F2 Gold System. New delineation drill results are shown in Table 1 and Figures 2, 3, 4 and 6.

The majority of the initial drill results are focused within +/-15 metres of the 305 metre level below surface. The delineation drilling is planned to further test a 150 metre (horizontal) x 200 metre (vertical) area within the F2 Core Zone of the F2 Gold System (Figures 1 and 5). Initial drill results appear to be outlining several structurally-hosted, discrete sub zones trending at multiple angles including a significant northwest-trending component (parallel to the regional F2 fold trend direction). The active cross-cuts now expose areas of the initial delineation drilling in the F2 Core Zone and separate northwest hanging wall zone (Figure 2, 3 and 4) and the Company plans to post pictures of the cross cuts by the end of the week on its website.

Delineation Drilling – Northwest Hanging Wall Area

Drilling northwest of the 305-05 drill station has intersected a previously unrecognized northeast trending subzone to the northwest of the main area of delineation drilling (Figure 2 and 6). Highlights include hole D305-05-016 which returned 16.59 oz/ton gold over 8.2 feet (568.9 g/t gold over 2.5 metres), including 41.03 oz/ton gold over 3.3 feet (1,406.8 g/t gold over 1.0 metre) and hole D305-05-020 returned 2.74 oz/ton gold over 6.6 feet (93.8 g/t gold over 2.0 metres), including 5.34 oz/ton gold over 3.3 feet (183.0 g/t gold over 1.0 metre). The majority of the mineralization in this zone is hosted by quartz veins, within a package of altered high titanium basalts and has currently been defined over a 55 metres strike length.

Delineation Drilling – Below 305 metre level

Hole D305-04-015 intersected 0.92 oz/ton gold over 19.0 feet (31.4 g/t gold over 5.8 metres) including a high-grade interval of 9.65 oz/ton gold over 1.6 feet (330.8 g/t gold over 0.5 metres) on the 310 metre level within strongly biotite-altered and quartz-veined high-titanium basalts (Figure 3 and 6). Hole D305-05-003A intersected a broad zone of 0.20 oz/ton gold over 72.2 feet (7.0 g/t gold over 22.0 metres) containing two separate high-grade intervals of 0.93 oz/ton gold over 7.9 feet (31.9 g/t gold over 2.4 metres) and 0.73 oz/ton gold over 4.6 feet (25.0 g/t gold over 1.4 metres).

Delineation Drilling – Above 305 metre level

Above the 305 metre level (Figure 4 and 6), hole D305-04-017 intersected 1.35 oz/ton gold over 9.8 feet (46.3 g/t gold over 3.0 metres) within a broader zone of 0.46 oz/ton gold over 31.2 feet (15.6 g/t gold over 9.5 metres) southwest of the 305 level drift on the 293 metre level. Northeast of the 305 level drift, drill hole D305-05-005 intersected 0.62 oz/ton gold over 16.4 feet (21.1 g/t gold over 5.0 metres) including 4.27 oz/ton gold over 2.0 feet (146.3 g/t gold over 0.6 metres) within a broader zone of 0.15 oz/ton gold over 87.2 feet (5.0 g/t gold over 26.6 metres) and D305-05-008 intersected 0.82 oz/ton gold over 9.8 feet (28.0 g/t gold over 3.0 metres) within quartz breccias contained within a broader zone of 0.17 oz/ton gold over 77.1 feet (5.7 g/t gold over 23.5 metres) respectively centered on the 296 metre level.

The gold mineralization both above and below the level occurs in multiple sub-parallel zones typically hosted by quartz breccias and variably altered mineralized high titanium basalt. To date, delineation drilling demonstrates that the mineralization is vertically continuous over the 20 metres tested and, based on previous wider-spaced drilling below the current level, it is expected that continuity will extend to depth.

“The F2 Core Zone delineation holes confirm and extend results from wider spaced drilling and also provide evidence of new, previously unidentified sub-zones. We look forward to our initial resource estimate before month end as well as further results from the delineation drilling and additional exploration drilling designed to further test the limits of the large F2 Gold System,” stated David Adamson, President and CEO.

Rubicon Minerals Corporation is a well-funded exploration and development company, focused on exploring and developing its high-grade gold discovery at its Phoenix Project in Red Lake, Ontario. Rubicon controls over 100 square miles of prime exploration ground in the prolific Red Lake gold district of Ontario which hosts Goldcorp’s high-grade, world class Red Lake Mine.

RUBICON MINERALS CORPORATION
“David W. Adamson”
President & CEO

Table 1: Assay Results

Hole Elevation
Level
Gold (g/t) Width (m) Gold (oz/t) Width (ft) 9X Target
Area
Northwest Hanging Wall Area
D305-05-013 304 17.0 1.8 0.50 5.9 1
303 5.6 3.6 0.16 11.8 1
303 26.5 1.0 0.77 3.3 1
D305-05-014 302 669.1 0.8 19.52 2.6 1
D305-05-015 303 5.2 4.1 0.15 13.4 1
D305-05-016 295 568.9 2.5 16.59 8.2 1
Incl. 295 1406.8 1.0 41.03 3.3 1
D305-05-017 304 6.7 6.3 0.20 20.7 1
Incl. 304 17.4 1.5 0.51 4.9 1
And Incl. 304 38.5 0.5 1.12 1.6 1
D305-05-018 Anomalous
D305-05-019 Anomalous
D305-05-020 297 93.8 2.0 2.74 6.6 1
Incl. 297 183.0 1.0 5.34 3.3 1
Below 305 metre Level in Core Area
D305-05-003A 308 7.0 22.0 0.20 72.2 1
Incl. 308 17.6 5.0 0.51 16.4 1
And Incl. 309 31.9 2.4 0.93 7.9 1
Or 309 25.0 1.4 0.73 4.6 1
D305-05-009 308 5.3 2.5 0.15 8.2 1
309 5.9 17.5 0.17 57.4 1
Incl. 309 18.6 1.0 0.54 3.3 1
or 310 16.0 4.3 0.47 14.1 1
And Incl. 310 31.8 1.7 0.93 5.6 1
311 6.9 4.5 0.20 14.8 1
Incl. 311 10.2 2.7 0.30 8.9 1
D305-05-012 310 8.3 43.0 0.24 141.0 1
Incl. 309 16.1 4.0 0.47 13.1 1
Or 311 16.7 14.7 0.49 48.2 1
And Incl. 312 23.6 5.2 0.69 17.1 1
D305-05-012 313 5.4 3.9 0.16 12.8 1
D305-05-006 Anomalous
D305-04-003 311 5.2 16.0 0.15 52.5 1
Incl. 310 9.8 2.0 0.29 6.6 1
Or 311 17.5 1.6 0.51 5.2 1
D305-04-003 313 29.8 0.8 0.87 2.6 1
D305-04-006 309 32.5 0.5 0.95 1.6 1
313 6.3 1.6 0.18 5.2 1
D305-04-009 311 5.0 2.2 0.15 7.2 1
D305-04-012 Anomalous
D305-04-015 310 31.4 5.8 0.92 19.0 1
Incl. 310 330.8 0.5 9.65 1.6 1
D305-04-018 Anomalous
Above 305 metre Level in Core Area
D305-05-001 302 5.6 18.5 0.16 60.7 1
Incl. 302 17.9 3.6 0.52 11.6 1
And Incl. 302 38.7 1.6 1.13 5.1 1
D305-05-002 297 5.2 16.0 0.15 52.5 1
Incl. 296 16.4 3.7 0.48 12.1 1
And Incl. 296 37.2 1.0 1.09 3.3 1
D305-05-004 301 11.4 2.0 0.33 6.4 1
Incl. 301 21.0 1.0 0.61 3.3 1
D305-05-005 296 5.0 26.6 0.15 87.2 1
Incl. 297 21.1 5.0 0.62 16.4 1
And Incl. 297 146.3 0.6 4.27 2.0 1
D305-05-007 301 5.5 28.2 0.16 92.5 1
Incl. 302 19.5 1.8 0.57 5.9 1
Or 301 16.2 3.2 0.47 10.5 1
D305-05-008 296 5.7 23.5 0.17 77.1 1
Incl. 297 28.0 3.0 0.82 9.8 1
D305-05-010 303 5.0 9.5 0.15 31.2 1
Incl. 303 10.5 2.1 0.31 6.9 1
D305-05-011 303 6.5 3.7 0.19 12.1 1
Incl. 303 14.0 1.5 0.41 4.9 1
D305-05-011 295 5.8 2.7 0.17 8.9 1
D305-04-001 302 5.6 12.8 0.16 42.0 1
Incl. 302 22.9 1.9 0.67 6.2 1
D305-04-002 295 5.0 11.4 0.15 37.2 1
Incl. 295 12.4 3.0 0.36 9.8 1
D305-04-004 Anomalous
D305-04-005 296 12.0 1.0 0.35 3.3 1
293 5.3 7.2 0.15 23.6 1
Incl. 293 16.3 1.0 0.48 3.3 1
D305-04-007 302 5.1 3.4 0.15 11.2 1
D305-04-008 Anomalous
D305-04-010 302 5.9 2.5 0.17 8.2 1
D305-04-011 295 18.5 1.0 0.54 3.3 1
D305-04-013 Anomalous
D305-04-014 293 9.8 2.8 0.29 9.2 1
D305-04-016 Anomalous
D305-04-017 294 15.6 9.5 0.46 31.2 1
Incl. 293 46.3 3.0 1.35 9.8 1
D305-04-019 289 5.7 2.3 0.17 7.5 1
D305-04-020 274 5.8 1.9 0.17 6.2 1

Holes with the prefix ‘D305′ were drilled from underground on the 305 metre level and are part of the delineation program. Assays are uncut. Reported results satisfy the following cut-off criteria: An intercept equal to or greater than 10 g/t gold (gram) x (metre) product value and possessing an average grade of equal to or greater than 5.0 g/t gold.
Anomalous holes satisfy the following criteria: >2.5 gram gold x metre product and > 2 g/t gold. A complete listing of results to date for the F2 Gold System is available at www.rubiconminerals.com.

Figure 1: F2 Gold System Plan Map

http://files.newswire.ca/617/Rubicon_Fig1_Nov17.doc

Figure 2: Plan map showing the northwest hanging wall zone
(results included for the 265 through 305 metre levels)

http://files.newswire.ca/617/Rubicon_Fig2_Nov17.doc

Figure 3: Plan Map showing the core zone area delineation drill results below the 305 metre level
(results included for the 305 through 345 metre levels)

http://files.newswire.ca/617/Rubicon_Fig3_Nov17.doc

Figure 4: Plan Map showing the core zone area delineation drill results above the 305 metre level
(results included for the 265 through 305 metre levels)

http://files.newswire.ca/617/Rubicon_Fig4_Nov17.doc

Figure 5:  Composite Long Section Looking Northwest and 9X Target

http://files.newswire.ca/617/Rubicon_Fig5_Nov17.doc

Figure 6: Detailed Composite Long Section of Delineation Drill area, Looking Northwest
(New results for 155m thick section only)

http://files.newswire.ca/617/Rubicon_Fig6_Nov17.doc

Assaying and Qualified Person
Assays were conducted on sawn NQ-sized half core sections. Delineation drilling intercepts represent horizontal thickness which, at this time, are interpreted to be true thickness. The saw blade is routinely cleaned between samples when visible gold is noted during logging and sampling of the drill core. Assays were conducted by SGS Minerals Services using standard fire assay on a 30 gram (1 assay ton) sample with a gravimetric finish procedure. Assays are uncut as is standard practice in Red Lake. Standards, blanks and check assays were included at regular intervals in each sample batch. Check assays on 5% of samples are carried out at a third party independent laboratory. Gold standards were prepared by CDN Resource Laboratories Ltd. Work programs in this release were supervised by Terry Bursey, P.Geo., Regional Manager for Rubicon and the project Qualified Person under the definition of NI 43-101.

Forward-Looking Statements
This news release contains statements that constitute “forward-looking statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934 and “forward-looking information” within the meaning of applicable Canadian provincial securities legislation (collectively, “forward-looking statements”). Forward-looking statements often, but not always, are identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “targeting” and “intend” and statements that an event or result “may”, “will”, “should”, “could”, or “might” occur or be achieved and other similar expressions. Forward-looking statements in this document include statements regarding the timing and nature of future exploration programs which are dependent on projections which may change as drilling continues, or if unexpected ground conditions are encountered. In addition, areas of exploration potential are identified which will require substantial drilling to determine whether or not they contain similar mineralization to areas which have been explored in more detail. The description of the extent of mineralized zones is not intended to imply that any economically mineable estimate of reserves or resources exists on the Phoenix project. Similarly, although geological features of the F2 Gold System are interpreted to show similarities to nearby gold producing mines owned by third parties, this should not be interpreted to mean that the F2 Gold System has, or that it will, generate similar reserves or resources. Significant additional drilling is required at F2 to fully understand system size before a meaningful resource calculation can be completed.

The forward-looking statements that are contained in this news release are based on various assumptions and estimates by the Company and involve a number of risks and uncertainties. As a consequence, actual results might differ materially from results forecast or suggested in these forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause the actual results to differ include market prices, results of exploration, availability of capital and financing on acceptable terms, inability to obtain required regulatory approvals, unanticipated difficulties or costs in any rehabilitation which may be necessary, market conditions and general business, economic, competitive, political and social conditions. These statements are based on a number of assumptions, including assumptions regarding general market conditions, timing and receipt of regulatory approvals, the ability of the Company and other relevant parties to satisfy regulatory requirements, the availability of financing for proposed transactions and programs on reasonable terms and the ability of third-party service providers to deliver services in a timely manner. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements, there may be other factors which cause actual results to differ.

Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.


The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Source: Rubicon website

Rubicon to Prepare Initial NI 43-101 Resource Estimate for the F2 Gold System, Red Lake, Ontario

TORONTO, Nov. 2 /CNW/ – Rubicon Minerals Corporation (RMX:TSX: | RBY:NYSE-AMEX) is pleased to announce that, pursuant to the recommendations in its recent NI 43 – 101 technical report filed on September 27, 2010, it has retained Geoex Limited. (“Geoex”) to prepare an initial NI 43-101 resource estimate for its F2 Gold System, part of its 100%-owned Phoenix Gold Project, located in the heart of the prolific Red Lake Gold Camp. The resource estimate is expected to be completed on or before the end of November, 2010 and will be based on 161,000 metres of diamond drilling conducted up to July 31, 2010. Accordingly, it will not include approximately 29,000 metres of drilling completed since that date (total of 190,000m drilled to date).

The initial resource estimate is expected to focus on the Company’s F2 Gold System ’9X’ target area as well as outlining an estimate of exploration target potential within the area of the F2 Gold System.

Geoex has over 40 years experience in similar gold systems including a recent NI 43-101 resource report on the Rice Lake belt assets of San Gold Resources. Geoex also has relevant experience in Red Lake and was retained by Gold Eagle Mines Ltd. in 2008 to prepare an estimate of the geological potential of the Bruce Channel gold deposit. Gold Eagle Mines Ltd. was subsequently acquired by Goldcorp Inc. in late 2008.

“Since discovering the F2 Gold System in 2008, our approach has been to aggressively explore in order to test what we believe to be a large gold mineralizing system. This initial resource will allow us to evaluate the success of that program in areas where sufficient drilling has being carried out and also to assess further gold potential of other parts of the F2 Gold System. Our underground development is advancing on schedule, and our first cross cut is in progress, guided by ongoing delineation drilling.” stated David Adamson, President and CEO.

Rubicon Minerals Corporation (“Rubicon”) is a well-funded exploration and development company, focused on exploring and developing its high-grade gold discovery at its Phoenix Gold project in Red Lake, Ontario. Rubicon controls over 65,000 acres of prime exploration ground in the prolific Red Lake gold district of Ontario which hosts Goldcorp’s high-grade, world class Red Lake Gold Mine. In addition to its Red Lake holdings, Rubicon also controls over 380,000 acres surrounding the Pogo Mine in Alaska as well as 225,000 acres in northeast Nevada.

RUBICON MINERALS CORPORATION
“David W. Adamson”
President & CEO

Source: Company website

Press Release: High-grade gold intercepts continue at Rubicon’s F2 Core Zone, Red Lake, Ontario

    <<
        - 0.54 oz/ton gold over 14.8 feet plus 22.0 oz/ton gold over 1.6 feet
                     at 4331 to 4580 feet below surface -
     - drift to F2 Core Zone reaches halfway point - on schedule to reach
                           target in October 2010 -
    >>

VANCOUVER, Aug. 18 /CNW/ – Rubicon Minerals Corporation (RMX:TSX: / RBY:NYSE-AMEX) is pleased to provide an update of the latest diamond drill results at its 100% owned Phoenix Gold Project, located in the heart of the prolific Red Lake Gold District of Ontario. All new drill results are shown in Table 1 and Figures 1 and 2. Emerging gold zone outlines of the F2 Gold System are shown in Figure 3.

Deep drilling in target area 8 confirms gold mineralizing system continues to depth

Recent drilling of deep target area 8 from both underground and surface has returned positive gold results in the southwestern part of the F2 Gold System at depth (Figure 1 and 2). Underground drill hole 305-06 intersected 0.54 oz/ton gold over 14.8 feet (18.6 g/t gold over 4.5 metres), and is part of a wider intercept grading 0.32 oz/ton gold over 29.5 feet (10.9 g/t gold over 9.0 metres) at a vertical depth of 4580 feet (1396 metres) below surface. Surface holes F2-100A and F2-100A-W1, testing target areas 5 and 8 intersected multiple gold zones including a bonanza hit of 22.0 oz/ton gold over 1.6 feet (754.2 g/t gold over 0.5 metres) at a vertical depth of 4331 feet (1320 metres) below surface in drill hole F2-100A and 4.16 oz/t gold over 1.6 feet (142.6 g/t gold over 0.5m) within a broader zone grading 0.27 oz/t gold over 31.5 feet (9.2 g/t gold over 9.6 metres) at a vertical depth of 3563 feet (1086 metres) below surface in drill hole F2-100A-W1 (Table 1 and Figure 2).

These results begin to fill in the deep target areas and demonstrate that the robust F2 Gold System, as documented by over 492,000 feet (150,000 metres) of drilling to date, continues to depth.

Drilling in target area 5 expands the 122-10 Zone to depth

The F2 Gold System is comprised of several zones identified to date: the F2 Core Zone, the Crown Zone, the 102 Zone in the Northern Extension Area, the Hanging Wall Zone, the 122-40 Zone and the 122-10 Zone (Figure 3). Drill hole 122-67 was designed to test approximately 820 feet (250 metres) below the 122-10 Zone (named after the discovery hole announced September 14, 2009 that intersected 0.40 oz/ton gold over 147.3 feet (13.7 g/t gold over 44.9 metres) including a higher grade section of 0.83 oz/t gold over 59.0 feet (28.4 g/t gold over 18.0 metres)). Drill hole 122-67 intersected 0.48 oz/ton gold over 16.7 feet (16.3 g/t gold over 5.1 metres) including 1.16 oz/t gold over 3.3 feet (39.9 g/t gold over 1.0 metres) at a vertical depth of 3087 feet (941 metres) below surface (Table 1 and Figures 1 and 2) and further extends the 122-10 Zone to depth.

Underground drift on the 305 metre level at halfway point – on target to reach F2 Core Zone in October

The 305 metre level drift (1001 feet) is designed to provide access for both definition drilling and bulk sampling of the F2 Core Zone. As of July 31, the drift reached the halfway point and is on schedule to access the F2 Core Zone by October 2010. A new drill station was set-up at the halfway point and three drills are now turning on the 305 metre level. This latest drill station allows for more cost-efficient drilling due to its closer proximity to the gold bearing zones discovered to date in the central F2 Gold System. Upon completion of the drift in October, Rubicon plans to establish a cross drift and up to four drill stations to be used for the definition drilling of the F2 Core Zone.

Rubicon plans to commence in August, 2010 the excavation of a second egress (a second underground exit to surface) from the 305 metre level as this is a Provincial regulatory requirement to permit mining from underground. The Company has also secured an option to purchase a larger hoist than currently on site, to allow for the project’s potential mining capacity to be increased up to 2000 tonnes per day.

Rubicon Minerals Corporation is a well-funded exploration and development company, focused on exploring and developing its high-grade gold discovery at its Phoenix project in Red Lake, Ontario. Rubicon controls over 65,000 acres (100 square miles) of prime exploration ground in the prolific Red Lake gold district of Ontario which hosts Goldcorp’s high-grade, world class Red Lake Mine. Rob McEwen, President and CEO of McEwen Capital and former Chairman and CEO of Goldcorp, owns 21.4% of the issued shares of the Company.

RUBICON MINERALS CORPORATION

“David W. Adamson”

President & CEO

    <<
                           Table 1: Assay Results
    -------------------------------------------------------------------------
    Hole     Depth to Centre  Gold       Width       Gold      Width     9X
              of Intercept    (g/t)       (m)       (oz/t)      (ft)   Target
                   (m)                                                  Area
    -------------------------------------------------------------------------
    F2-100        Anomalous - Auto-wedged and hole continued as F2-100A
    -------------------------------------------------------------------------
    F2-100A       1085         7.3        1.8        0.21        5.9       5
    -------------------------------------------------------------------------
    F2-100A       1129         3.1       14.0        0.09       45.9       5
    -------------------------------------------------------------------------
        Incl.     1127         6.8        5.0        0.20       16.4       5
    -------------------------------------------------------------------------
        Incl.     1129        17.4        1.0        0.51        3.3       5
    -------------------------------------------------------------------------
    F2-100A       1174         4.9        2.5        0.14        8.2       8
    -------------------------------------------------------------------------
    F2-100A       1276         4.6        8.0        0.13       26.2       8
    -------------------------------------------------------------------------
        Incl.     1275        15.1        1.0        0.44        3.3       8
    -------------------------------------------------------------------------
    And Incl.     1279        16.6        1.0        0.48        3.3       8
    -------------------------------------------------------------------------
    F2-100A       1320       754.2        0.5       22.00        1.6       8
    -------------------------------------------------------------------------
    F2-100A       1453        13.3        1.4        0.39        4.6       8
    -------------------------------------------------------------------------
    F2-100A-W1    1082         9.2        9.6        0.27       31.5       5
    -------------------------------------------------------------------------
        Incl.     1086       142.6        0.5        4.16        1.6       5
    -------------------------------------------------------------------------
    F2-100A-W1    1327         6.4        3.0        0.19        9.8       8
    -------------------------------------------------------------------------
    F2-102         515        24.8        1.0        0.72        3.3       4
    -------------------------------------------------------------------------
    F2-102         552         3.2        8.0        0.09       26.2       6
    -------------------------------------------------------------------------
        Incl.      555        11.9        1.0        0.35        3.3       6
    -------------------------------------------------------------------------
    F2-103          69       373.8        0.5       10.90        1.6       4
    -------------------------------------------------------------------------
    F2-103A        376        12.4        1.5        0.36        4.8       4
    -------------------------------------------------------------------------
    F2-103A        395         3.5        5.0        0.10       16.4       4
    -------------------------------------------------------------------------
    F2-103A        407        27.4        0.5        0.80        1.6       4
    -------------------------------------------------------------------------
    F2-103A        414         6.2        2.5        0.18        8.2       4
    -------------------------------------------------------------------------
    F2-104         486         3.2       12.4        0.09       40.7       4
    -------------------------------------------------------------------------
        Incl.      481         9.9        2.0        0.29        6.6       4
    -------------------------------------------------------------------------
    F2-104         582        40.0        1.0        1.17        3.3       6
    -------------------------------------------------------------------------
    122-67         824         3.0        6.0        0.09       19.7       5
    -------------------------------------------------------------------------
        Incl.      825        11.0        1.0        0.32        3.3       5
    -------------------------------------------------------------------------
    122-67         941        16.3        5.1        0.48       16.7       5
    -------------------------------------------------------------------------
        Incl.      940        21.8        3.6        0.64       12.0       5
    -------------------------------------------------------------------------
        Incl.      940        39.9        1.0        1.16        3.3       5
    -------------------------------------------------------------------------
    122-69         430        23.7        1.0        0.69        3.3       1
    -------------------------------------------------------------------------
    122-70         167       170.9        1.0        4.98        3.3       3
    -------------------------------------------------------------------------
    122-70         817        34.3        1.0        1.00        3.3       5
    -------------------------------------------------------------------------
    122-70         847         3.3        4.0        0.10       13.1       5
    -------------------------------------------------------------------------
    305-05         310         5.2        3.4        0.15       11.2       1
    -------------------------------------------------------------------------
        Incl.      310        11.6        1.2        0.34        3.9       1
    -------------------------------------------------------------------------
    305-05         311         3.1        7.5        0.09       24.6       1
    -------------------------------------------------------------------------
        Incl.      311        24.2        0.5        0.71        1.6       1
    -------------------------------------------------------------------------
    305-05-W1      310         3.9        6.0        0.11       19.7       1
    -------------------------------------------------------------------------
    305-05-W1      363         3.5        7.0        0.10       23.0       1
    -------------------------------------------------------------------------
        Incl.      362         6.0        3.0        0.18        9.8       1
    -------------------------------------------------------------------------
    305-05-W1      370         3.4        8.0        0.10       26.2       1
    -------------------------------------------------------------------------
    305-06        1398        10.9        9.0        0.32       29.5       8
    -------------------------------------------------------------------------
        Incl.     1396        18.6        4.5        0.54       14.8       8
    -------------------------------------------------------------------------
        Incl.     1394       104.7        0.5        3.05        1.6       8
    -------------------------------------------------------------------------
    305-10                           Anomalous
    -------------------------------------------------------------------------
    305-11         292         8.3        3.6        0.24       11.8       1
    -------------------------------------------------------------------------
        Incl.      292        25.7        1.1        0.75        3.6       1
    -------------------------------------------------------------------------
    Holes with the prefix '122' and '305' were drilled from underground.
    Assays are uncut. Reported results satisfy the following criteria:
    greater than 10.0 gram gold x metre product and greater than 3.0 g/t
    gold. Anomalous holes satisfy the following criteria: greater than 2.5
    gram gold x metre product and less than 10.0 gram gold x metre product
    and greater than 2 g/t gold. A complete listing of results to date for
    the F2 Zone is available at www.rubiconminerals.com.
    >>

To view Figure 1: F2 Gold System Plan Map, Figure 2: Composite Long Section Looking Northwest and 9X Target Outlines and Figure 3: F2 Gold System Plan Map with Emerging Outlines of Gold Zones, please visit: http://files.newswire.ca/617/rubiconfig123.pdf

Source: Company website

Rubicon Press Release: Gold Recoveries between 92.1% and 95.2% in Preliminary Metallurgical Test Work from Rubicon’s F2 Gold System, Red Lake, Ontario

TSX:RMX/NYSE AMEX:RBY

TORONTO, July 12 /CNW/ – Rubicon Minerals Corporation (RMX:TSX:/RBY:NYSE-AMEX) is pleased to announce positive results from preliminary metallurgical test work performed on several composite samples from the F2 Gold System at its 100% owned Phoenix Gold Project, located in the heart of the prolific Red Lake Gold Camp.

Composite samples returned gold recoveries averaging 93.8%, an absence of any refractory gold component despite the presence of appreciable sulphide minerals in the sampled gold zones and contained low arsenic content. The samples are amenable to standard gravity and carbon-in-leach treatments.

Four composite samples were prepared from a total of 155 drill intercepts. G&T Metallurgical Services Ltd, located in Kamloops, B.C. performed the metallurgical test work under the supervision of Soutex Inc., Mineral Processing and Metallurgy Consultants, located in Quebec City. The test work returned the following results:

<< - Gold recoveries: 92.1%, 93.6%, 94.4% and 95.2%, (average 93.8%), - Sulfur content averaging 2.37% (ranging from 1.57% to 2.82%) consistent with the presence of widespread sulphide minerals (pyrite and pyrrhotite) in the mineralized zones, - Low arsenic content averaging 0.04% (range 0.01% to 0.08%), - Specific gravity for the composites averaging 2.78 (ranging from 2.67 to 2.84) >>

“These preliminary results demonstrate very good gold recoveries indicating the absence of any refractory component. This is highly encouraging and bodes well for optimization of both capital and operating costs through further test work,” stated Claude Bouchard, VP Operations.

Results are preliminary in nature and considerably more sample material and test work is required to further characterize and optimize F2 Gold System metallurgy.

Rubicon Minerals Corporation is a well-funded exploration and development company, focused on exploring and developing its high-grade gold discovery at its Phoenix Gold project in Red Lake, Ontario. Rubicon controls over 65,000 acres of prime exploration ground in the prolific Red Lake gold district of Ontario which hosts Goldcorp’s high-grade, world class Red Lake Gold Mine. In addition to its Red Lake holdings, Rubicon also controls over 380,000 acres surrounding the Pogo Mine in Alaska as well as 225,000 acres in northeast Nevada. Rob McEwen, President and CEO of McEwen Capital and former Chairman and CEO of Goldcorp, owns 21.4% of the issued shares of the Company.

<< RUBICON MINERALS CORPORATION "David W. Adamson" President & CEO Assaying and Qualified Person ----------------------------- >>

This news release has been reviewed and approved by Terry Bursey P.Geo.and Regional Manager for Rubicon Minerals Corporation and Qualified Person under the definition of NI 43-101.

Representative composite samples for metallurgical testing were selected by Rubicon Minerals Corporation under the guidance of Soutex Inc., The metallurgical program was designed and supervised by Pierre Roy, P. Eng., Senior Metallurgist, Soutex Inc. Mineral Processing and Metallurgy Consulting. Two types of composite samples were prepared consisting of: 1) quarter sawn NQ drill core (remaining quarter core left in the core box for representative sample);and, 2) combined coarse sample reject material and sample pulp material remaining from original assay testing. For composite samples consisting of sample reject and sample pulp material, individual samples were first sent to an independent Assay lab (ALS Chemex) for verification prior to preparing the respective composite samples.

Metallurgical test work was performed under the supervision of Peter Mehrfert, P.Eng., Senior Metallurgist, G&T Metallurgical Services Ltd. The Metallurgical test work performed consisted of Ore Characterization (size distribution, chemical analysis, mineralogical analysis) and Metallurgical Testing (gravity recoverable gold, flotation tests and cyanidation tests).

Link to the original press release on the Rubicon website

Rubicon confirms significant horizontal thickness through the F2 Core Zone and discovers a new zone in the northern target area, Red Lake, Ontario

Rubicon Press Release:

TORONTO, July 6 /CNW/ – Rubicon Minerals Corporation (RMX:TSX: / RBY:NYSE-AMEX) is pleased to provide an update of the latest diamond drill results at its 100%-owned Phoenix Gold Project, located in the heart of the prolific Red Lake Gold District of Ontario. All new drill results are shown in Table 1 and Figures 1 and 2.

Core Zone – new intercept confirms horizontal thickness and vertical continuity of high grade gold

Drill hole 305-11 tested the F2 Core Zone (target area 1 in figure 2) in the area of the intended cross-cut approximately 21 metres vertically above previously reported drill hole 305-05 (1.24 oz/ton gold over 22.6 feet (42.5 g/t gold over 6.9 metres), part of a broader vein zone grading 0.59 oz/ton gold over 49.2 feet (20.1 g/t gold over 15.0 metres)). Hole 305-11 intersected 1.01 oz/ton gold over 22.0 feet (34.7 g/t gold over 6.7 metres) as part of a wider vein zone grading 0.58 oz/ton gold over 53.1 feet (20.1 g/t gold over 16.2 metres). Both holes were drilled sub-horizontally and intersected the gold-bearing zone at near right angles and thus are interpreted to be true horizontal thicknesses. The F2 Core Zone, which is one zone within the larger F2 Gold System, is currently defined over a strike length of 75 metres (246 feet) a vertical extent of 600 metres (1968 feet) and is open vertically and along strike. Underground development is drifting to the F2 Core Zone on the 305 level following which delineation drilling will be carried out to outline the gold zones in more detail. A long section of the F2 Core Zone showing the distribution of g/t gold multiplied by metres (gram-metre product) is posted on the corporate website, www.rubiconminerals.com.

“305-11 confirms the presence of both exceptional gold grades and thicknesses in the core zone directly in the area where our cross-cut is planned. This bodes well for our objective to build significant tonnes and grade in the core zone as a pre-curser to mining,” stated David Adamson, President and CEO.

Northern Extension Target Area – New Zone Intersected

Drilling from surface in target areas 4 and 6 continues to intersect significant high-grade gold as in-fill drilling further expands gold mineralization this area. Hole F2-102 returned 0.91 oz/ton gold over 55.8 feet (31.2 g/t gold over 17.0 metres) including 1.18 oz per ton gold over 37.7 feet (40.5 g/t gold over 11.5 metres), all developed within a wider zone of 0.47 oz/ton gold over 118.1 feet (16.0 g/t gold over 36.0 metres). Hole F2-101 returned multiple high-grade gold intercepts down hole (Table 1 and Figures 1 and 2) including a quartz veined zone grading 1.10 oz/ton gold over 9.8 feet (37.7 g/t gold over 3.0 metres) including 5.87 oz/ton gold over 1.6 feet (201.2 g/t gold over 0.5 metres).

Below target 4, in target area 6 (Figure 2) underground hole 122-58 intersected 1.07 oz/ton gold over 3.0 feet (36.7 g/t gold over 0.9 metres) and 0.91 oz/ton gold over 3.3 feet (31.1 g/t gold over 1.0 metres). These intercepts provide additional confirmation of the high-grade gold potential at depth in the northern target area.

“Our ongoing ’9X’ drill program continues to return excellent results through the system on a regular basis. Hole F2-102 looks to be a very significant hole that rivals the best holes drilled to date in the F2 Gold System. We believe these results are further confirmation that the F2 mineralizing system has the ability to develop excellent horizontal thickness and impressive gold grades in several zones beyond the F2 Core Zone,” stated David Adamson, President and CEO.

Southern Extension Area – Depth extension of 122-10 Zone

Surface drill hole F2-94 in target area 5 was designed to test for the extension to depth of the previously reported 122-10 Zone reported September 14, 2009 which intersected 0.40 oz/ton gold over 147.3 feet (13.7 g/t gold over 44.9 metres) including 3.82 oz/ton gold over 4.9 feet (130.9 g/t gold over 1.5 metres). F2-94 intersected 0.65 oz/ton gold over 22 feet (22.3 g/t gold over 6.7 metres), including 1.05 oz/ton gold over 9.8 feet (36.0 g/t gold over 3.0 metres) and 2.15 oz/ton gold over 1.8 feet (73.7 g/t gold over 0.5 metres) 225 metres below 122-10 (see Table 1). This hole indicates significant potential to expand the 122-10 Zone to depth.

Rubicon Minerals Corporation is a well-funded exploration and development company, focused on exploring and developing its high-grade gold discovery at its Phoenix project in Red Lake, Ontario. Rubicon controls over 65,000 acres (100 square miles) of prime exploration ground in the prolific Red Lake gold district of Ontario which hosts Goldcorp’s high-grade, world class Red Lake Mine. Rob McEwen, President and CEO of McEwen Capital and former Chairman and CEO of Goldcorp, owns 21.4% of the issued shares of the Company.


Click here to go to the Rubicon Website and see the assay results (table 1) and gold system map plan

Second Stock Pick: Rubicon Minerals (TO:RMX AMEX:RBY)

As promised our second and last stock pick: Rubicon Minerals (TO:RMX AMEX:RBY)
Today we bought shares of Rubicon minerals at a price of CAD$ 3,49 Below CAD $ 3,60 Rubicon is in the buying range.
More information about Rubicon Minerals and the first stock pick Seabridge Gold in later posts, and on the portfolio page of this website.

Click here to go to the Rubicon Minerals Page for interactive charts, and more information coming soon!