Business
Solitaire Minerals Corp. Enters 123 Meters of Heavily Silicified and Altered Zone at the Sidace Lake Extension on the Red Lake North Property, Red Lake, Ontario
VANCOUVER, Dec. 19 /CNW/ - Solitaire Minerals Corp. (TSX-V symbol: SLT) and Rubicon Minerals Corp...
About this update from Pegasus Resources Inc
[{"type":"text","content":"\n\n\n\nVANCOUVER, Dec. 19 /CNW/ - Solitaire Minerals Corp. (TSX-V symbol: SLT)\nand Rubicon Minerals Corp. (TSX-V symbol: RMX) would like to announce\nsignificant results from the deep drill hole at Sidace, Red Lake North\nProperty in Red Lake, Ontario. Rubicon Minerals Corp. is currently operating a\ndrill rig in the Sidace Lake area funded by Solitaire Minerals Corp. A deep\ndrill hole is currently testing for the down dip extension of the Main\nDiscovery Zone ('MDZ'), a gold zone controlled by Goldcorp and Planet\nExploration Inc. Solitaire will earn a 55% interest in the Red Lake North\nproject, which includes the Sidace area claims, by spending $2.5 million.\n\n\nGoldcorp and its partner Planet Exploration have drilled over\n61,000 meters on the adjacent claim to the east of the deep drill hole at\nSidace. The MDZ is a gold-bearing sericite +/- pyrite schist (heavily deformed\nmica-rich unit) interpreted by Rubicon to dip westwards onto its claims.\nRubicon considers the gold system at Sidace to show strong similarities to the\nHemlo-type gold deposit which is a bulk mineable disseminated gold system. It\nshould be noted that this type of gold system differs from the classic\nhigh-grade Red Lake type deposit but due to its disseminated style and\ncontinuity can represent an attractive economic target.\n\n\nThe deep drill hole is currently 1956 meters below surface and has\nintersected 123 meters (core length) of permissive schist units which are\ncharacterized by significant alumina- and potassium-rich minerals (white\nfeldspar, sillimanite, garnet, sericite and biotite), variable amounts of\npyrite and pyrrhotite (trace to 5%) and local sphalerite and galena (trace to\n3%). This is taken to indicate that the MDZ type sequence found on the\nGoldcorp/Planet's deposit is present on the Solitaire/Rubicon claims.\n\n\nAssays have been received for a 50.4 meter section of sericite-bearing\nschist. These indicate a thick section of elevated gold (0.74 g/t over\n36.1 meters) which includes 3.42 g/t gold over 4.6 meters and individual\nassays up to 7.7 g/t gold over 1.0 meter (see Figure 1,\nhttp://files.newswire.ca/601/figure.ppt . For further details refer to\nwww.rubiconminerals.com). The drill hole is temporarily halted in heavily\nsilicified and altered units and will be continued when drilling resumes in\nearly January.\n\n\...