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Solitaire and Rubicon Commence 3,300 meter Drill Program on the Red Lake North Property, Red Lake, Ontario
Solitaire and Rubicon Commence 3,300 meter Drill Program on the Red Lake North Property, Red Lake, Ontario.
About this update from Pegasus Resources Inc
[{"type":"text","content":"\n\n\n\nVANCOUVER, Aug. 14 /CNW/ - Solitaire Minerals Corp. (TSX-V symbol: SLT)\nand Rubicon Minerals Corp. (TSX-V symbol: RMX) have returned to drilling the\nRed Lake North Property in Red Lake, Ontario. The planned eleven hole 3300m\nsummer drill program will be funded by Solitaire Minerals Corp. and will\ntarget an area that runs parallel to the Blackbear Intrusive for approximately\n12 km. The eleven holes will be drilled at four distinct target areas along\nthe projected extension of a gold bearing Sericite Schist trend as determined\nby Rubicon Minerals Corp., the project operator.\n\n\nHistorical work, completed by Rubicon Minerals Corp., includes detailed\nground and airborne Mag and EM (spectrum) survey, as well as drilling of three\nholes which confirmed the presence of the ultramafic stratigraphy and sericite\nschist.\n\n\nThe property is under option to Solitaire Minerals Corp., the Company is\nrequired to fund $2.5 million of exploration over four years (prior to May 30,\n2010) to earn a 55% interest.\n\n\nThe Red Lake North project is separated into two distinct packages of\nground:\n\n\nThe Red Lake North Main Block\n\n\nThis block which is the focus of this drill program, is directly along\nstrike from both the Main Discovery Zone (MDZ) and Upper Duck Zone (UDZ),\ncurrently being explored by Goldcorp/Planet Exploration Inc on the Sidace Lake\nProperty. Based on three holes drilled by Rubicon in 2005 that intersected the\nprospective quartz-sericite schist altered horizon as well as geophysical\ninterpretation, the extension of gold-bearing stratigraphy that hosts the MDZ\ncontinues southwest onto the Red Lake North Main Block.\n\n\nThe Sidace Lake Area\n\n\nThe Sidace Lake Area claims are situated on the up-dip and down-dip\nextensions of the Goldcorp/Planet MDZ. The property is dominated by a package\nof Balmer assemblage mafic and ultramafic volcanic rocks which are overlain by\naltered intermediate sediments. Solitiare funded a deep-targeting program on\nthis claim in the fall and winter of 2006/2007, but was limited by the depth\ncapacity of the drill rig. A drill rig capable of reaching a depth of 2500\nmeters has been contracted for late September 2007 for planned follow-up\ndrilling.\n\n\nTerry Bursey, P.Geo, a qualified person under National instrument 43-101\nwill advance the Red Lake North project.\n\n\...