Rubicon hits more sulphides at Palmer (September 27, 1999)

Rubicon Minerals (RMX-V) has tabled more encouraging assay results from its massive sulphide discovery at the RW zone, part of the Palmer project, near Haines, Alaska.

Hole 13 was drilled downdip and 170 ft. east of hole 10, the discovery hole (15 ft. averaging 4.01% zinc, 0.4% copper and 0.46 oz. silver per ton).

Partial assays for the hole returned an average grade of 13.48% zinc, 0.21% copper, 0.37 oz. silver and 0.003 oz. gold per ton over 7 ft. Included in this interval was a high-grade zinc section that assayed 21.5% zinc over 4.2 ft. Rubicon says this intersection extends mineralization 260 ft. downdip.

Hole 14 was collared about 700 ft. east of the discovery section. Visual reports suggest the hole intersected a 156-ft. zone of stringer sulphide mineralization. The stringer zone displays strong chlorite alteration and includes a 77-ft. interval with visual chalcopyrite starting at a down-hole depth of 638.5 ft. The hole was drilled to a final depth of 857 ft., and assays are pending.

The RW zone is in a previously unexplored region, about 600 ft. from the Little Jarvis showing and 1,600 ft. from the Upper Main zone. RW is believed to represent a mineralized corridor that connects the two showings. The zone remains open in all directions and at depth.

At last report, Rubicon had about $800,000 in its treasury and 17.1 million shares fully diluted.