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Rubicon Minerals Corp.
Summary
| Project: | Phoenix | |
|---|---|---|
| Deposit: | Phoenix | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 11/16/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-11-2017: Rubicon Minerals Corp. announces an Exploration/Drilling Update report for its Phoenix deposit at the Phoenix project. Drilling results incl. 3.6m @ 11.06g/t Au from 183m. TORONTO, Ontario, November 16, 2017 – Rubicon Minerals Corporation (TSX | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: George Ogilvie, Mark Ross (Internal) | |
| ABSTRACT: | TORONTO, Ontario, November 16, 2017 – Rubicon Minerals Corporation (TSX: RMX | OTCQX: RBYCF) (“Rubicon” or the “Company”) provides an update of its 2017 Exploration Program at the Phoenix Gold Project with additional drill results and observations and announces that it has commenced exploratory underground development. The Company completed all of its planned 23,500 m of drilling in October 2017. Rubicon is currently awaiting assay results from the final 4,592 m of drilling (approximately 1,375 assays) that were submitted to a third-party assay lab. The Rubicon team, together with Golder Associates Inc. (“Golder”) and T. Maunula & Associates Consulting Inc. (“Maunula Associates”), is continuing to evaluate the data with the objective of updating the geological model for the F2 Gold Deposit. Rubicon and its consultants are currently analyzing the structural data to determine the relationship between the structures, the lithology, and the gold mineralization at the deposit. The Company and its consultants anticipate being able to comment on the structural geology of the F2 Gold Deposit following the return of all the outstanding assays. The Company commenced exploratory underground development at the Phoenix Gold Project, which will continue through to the first half of 2018. Once enough trial stoping blocks have been opened, the Company will move into a test mining phase. Details of the 2018 test mining plans will be forthcoming in a future news release in early 2018. Rubicon remains on schedule to deliver an NI 43-101 Technical Report and updated Mineral Resource Estimate in the second half of 2018. Golder is conducting test modelling to improve the representativeness of the geological model but it is uncertain at this time what impact the re-interpretation will have on the Mineral Resource Estimate. | |
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