Red Lake North Property, Red Lake

The Red Lake North property is located approximately 22 km northeast of Red Lake, Ontario, in the prolific Red Lake Mining District. The property consists of forty seven staked mining claims totaling 329 units (approximately 5264 Ha). The property is 30 minutes by logging road from the Town of Red Lake, which is the business and government centre for the region. The area has a rich mining history, with two active producing mines (the Campbell and Red Lake Mines), and has all the facilities and infrastructure required to develop a new mining operation.

The Red Lake North property is separated into two distinct packages of ground. The larger of the two blocks is located on the northwest margin of the Black Bear Intrusive. Geologically, the property is dominated by a package of Balmer assemblage mafic and ultramafic volcanic rocks which are overlain by altered intermediate sediments. The stratigraphic units are interpreted to be upright and dipping at 60 to 70 degrees to the northwest. A series of northwest trending, vertical to subvertical faults crosscut and offset stratigraphy. This property is directly along strike from the recent 'Planet Zone' Au discovery, currently being explored by Goldcorp/Planet (TSX-V symbol: PXI). Based on historical drilling and geophysical interpretation on this land package, the extension of Au bearing sericite schist that is observed on the Planet Zone continues southwest onto the newly acquired property. The prospective sericite schist target horizon is interpreted to occur at depth and along the entire 12km strike length of the property. All three holes drilled by Rubicon intersected the prospective sericite schist altered horizon.

The smaller of the two blocks is situated on the up-dip and down-dip extensions of the recent Goldcorp/Planet Au discovery. Geologically, the property is dominated by a package of Balmer assemblage mafic and ultramafic volcanic rocks which are overlain by altered intermediate sediments. The southeastern claim block is on the contact between the overlying Balmer Assemblage volcanics and the Cat Island Pluton to southeast. Based on drilling by RMX, the prospective Au bearing sericite schist horizon continues onto the northwestern claim block, at depth. To date, only two holes have been drilled on this claim block. Further drilling is required to test for the continuity and controls of Au mineralization on the property.

Related documents/websites

→ Property map - Red Lake North
→ rubiconminerals.com