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Rubicon Minerals Corp.
Summary
| Project: | Phoenix | |
|---|---|---|
| Deposit: | Phoenix | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 5/23/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 23-5-2019: Rubicon Minerals Corp. announces an Exploration/Drilling Update report for its Phoenix deposit at the Phoenix project. Drilling results incl. 16.9m @ 6.31g/t Au from 326.4m. The 2019 oriented diamond drilling program was designed to upgrade and | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: George Ogilvie, Michael Nerup (Internal) | |
| ABSTRACT: | The 2019 oriented diamond drilling program was designed to upgrade and expand the Inferred Mineral Resource estimate, and advance the current understanding of the high-grade mineralization potential at depth, below the 854 m Level. The Company’s most recent NI 43-101 2019 Mineral Resource Statement is comprised of 589,000 gold ounces in the Measured and Indicated Resources category located above the 854 m Level and 540,000 gold ounces in the Inferred Mineral Resource category, of which more than 340,000 ounces are located below the 854 m Level1 . There are also 0.9 to 1.0 million tonnes of sparselydrilled (greater than 80-metre drill centres) mineralized material grading between 5.0 to 7.0 g/t Au (“Explore Targets”), where estimated Mineral Resources could potentially be expanded with further drilling. Results from the 2019 drill program so far have been encouraging. Rubicon encountered high-grade mineralization at both narrow and wide (>10 m) horizontal widths, intersected within the high titanium basalt units (“High-Ti Basalts”), the main host rock of gold mineralization at the Project. The mineralization at depth, especially at wider widths, could potentially translate to sizable stopes in future mining and enhance the economics of the Project. The Company is getting a better view of the structural geology at depth with the oriented drilling and is currently analyzing the resulting data. Rubicon has a preliminary model of the East Bay Deformation Zone (“EBDZ”) created from the structural data, which has enhanced the understanding of the mineralization and improved drill targeting at depth. Rubicon will continue to build on the current understanding of the geology at depth with further drilling | |
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