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Rubicon Minerals Corp.
Summary
| Project: | Phoenix | |
|---|---|---|
| Deposit: | Phoenix | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 1/20/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 20-1-2020: Rubicon Minerals Corp. announces an Exploration/Drilling Update report for its Phoenix deposit at the Phoenix project. Drilling results incl. 7.6m @ 8.82g/t Au from 344.9m. TORONTO, Ontario, January 20, 2020 – Rubicon Minerals Corporation (TSX: | |
| Resources: | (Resource, M+I): 811,000oz Au | |
| CP/QP: | [Overall Report]: Michael Willett, Isaac Oduro (Internal) | |
| ABSTRACT: | TORONTO, Ontario, January 20, 2020 – Rubicon Minerals Corporation (TSX: RMX | OTCQX: RBYCF) (“Rubicon” or the “Company”) reports the remaining assay results from its 2019 infill drilling program (the “2019 Drill Program”) and provides its 2020 plans to advance the Phoenix Gold Project (the “Project”) to Feasibility Study and commence exploration at the McFinley and Pen zones (“2020 Plans”). Rubicon President and Chief Executive Officer George Ogilvie, P.Eng., stated, “Our infill drilling program continues to yield positive results, which gives us great confidence that our Measured and Indicated Mineral Resource estimate will continue to expand at depth. We are targeting up to 7,500 m of infill drilling during the first half of 2020, which will focus on the approximately 190,000 ounces in the current Inferred Mineral Resource estimate between the 976- and 1,098 m Levels. We believe there is a good probability of converting some of these estimated ounces to the Measured and Indicated categories and then subsequently being added to the planned Feasibility Study mine plan.” “With the Phoenix Gold Project advancing on a positive path, we are commencing exploration with orientated core drilling on the highly-prospective McFinley and Pen Zone targets that are located 500 m from the Project mill and existing underground infrastructure including the mine shaft with a fully functional hoisting system. These targets have historical drilling that yielded high-grade results that we intend to follow up on this year. Our intention over the course of this year will be to update the historical Mineral Resource estimate at McFinley to an NI 43-101 compliant Mineral Resource estimate, and similarly for the Pen Zone for 2021, which are in close proximity to the Project mill and existing underground infrastructure.” | |
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