Desdemona Project
The Desdemona Project underwent significant rationalisation in 2010 and now comprises three tenement groups. Rubicon retains tenure over the Jeedamya volcanogenic base metal (VMS) prospect near Kookynie, the Bobs Bore gold prospect adjacent to the Apollo Hill deposit and the Malcolm tenements, on which St Barbara Limited has an option to purchase. The tenements cover approximately 310 km² located between 10 and 55 kilometres south and southeast of Leonora.
The project comprises three sub-projects; Jeedamya, Apollo Hill and Malcolm. The Malcolm Project covers part of the Kookynie greenstone belt which is characterised by a rhyolite-basalt succession together with interbedded sedimentary rocks and iron-rich mafic rocks, including the Niagara Complex, a layered mafic-ultramafic intrusive body that hosts much of the gold mined in that area.
The Jeedamya and Bobs Bore projects mainly cover the Yerilla greenstone belt, which extends along the Keith-Kilkenny Fault Zone. The north-south striking basalt-rhyolite succession east of the Melita Fault is the continuation of the sequence that hosts the Teutonic Bore and Jaguar VMS deposits north of Leonora and the area is considered prospective for VMS mineralisation. A number of small-scale, high-grade historical gold workings and prospects, including the Apollo Hill, Yilgangi and Yerilla gold mines are associated with subsidiary structures within the Keith-Kilkenny Fault Zone.
Jeedamya Project
Rubicon recently tested previously defined electromagnetic (EM) anomalies at the Jeedamya volcanogenic massive sulphide (VMS) prospect with three deep reverse circulation (RC) drill holes. The Jeedamya prospect is located in the Kookynie area approximately 55 kilometres south of Leonora, Western Australia. The prospect lies within a basalt-felsic volcanic-sedimentary package of rocks.
A revised geophysical interpretation of the EM and ground magnetic data indicated that the EM conductors had not been adequately tested by four RC holes drilled by Rubicon in 2008 or in limited drilling by a previous explorer. Rubicon hole RDRC031 drilled in 2008 intersected substantial silica-pyrite-pyrrhotite alteration with anomalous base metals that was interpreted as potentially the upper distal part of a VMS system.
Three RC holes for 744 metres (RDRC032-34) were drilled into the three best defined conductors. All three holes intersected zones of intense silica-pyrrhotite-pyrite (iron sulphide) alteration with minor chalcopyrite within a mafic volcanic-sedimentary chert package at the contact with either an intermediate volcanic or a porphyritic felsic unit.
The silica-pyrite-pyrrhotite altered zones exhibit consistently anomalous copper and zinc values of up to 0.5% zinc and 0.3% copper, but typically less than 0.1%. Best results of 9m @ 0.25% zinc and 16m @ 0.11% copper were recorded within the altered zone in RDRC033, which was sited under a shallow hole drilled by a previous explorer.
The results are considered indicative of a VMS system, with the presence of semi-massive pyrrhotite anomalous in copper and zinc a feature of VMS alteration systems.
An additional exploration licence has been applied for to the southwest of the Jeedamya tenement. The new licence contains the known extension of the altered and gossanous horizon being explored by Rubicon and will be a focus of future exploration.
Malcolm Option
Rubicon has entered into an option agreement with St Barbara Limited over approximately 50 km² of tenements located to the southeast of Leonora at Malcolm. These tenements are within trucking distance of St Barbara's Leonora gold operations. Under the agreement, St Barbara has paid a $50,000 option fee and can purchase the tenements by payment of $1.0 million. St Barbara must spend a minimum of $250,000 on exploration over 18 months.
