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Rubicon Minerals Corp.
Summary
| Project: | Phoenix | |
|---|---|---|
| Deposit: | Phoenix | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 4/30/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 30-4-2018: Rubicon Minerals Corp. announces a Resource Estimation report for its Phoenix deposit at the Phoenix project. Upgraded mineral resource estimate at the project. TORONTO, Ontario, April 30, 2018 – Rubicon Minerals Corporation (TSX: RMX | OTCQX: | |
| Resources: | (Resource, M+I): 1.374Mt @ 6.37g/t Au for 281Koz Au contained at project | |
| CP/QP: | [Resources]: Jerry DeWolfe (Golder Associates) | |
| ABSTRACT: | TORONTO, Ontario, April 30, 2018 – Rubicon Minerals Corporation (TSX: RMX | OTCQX: RBYCF) (“Rubicon” or the “Company”) is pleased to report an updated Mineral Resource Estimate (“2018 Mineral Resource Estimate”) for the Phoenix Gold Project (the “Project”). The Company plans to file an updated NI 43-101 Technical Report for the Project within 45 days. Rubicon President and Chief Executive Officer George Ogilvie, P.Eng., stated, “On the back of a successful 2017 Exploration Program, we are pleased to deliver the 2018 Mineral Resource Estimate, which demonstrates a significant increase in ounces, grades, and tonnes at the Phoenix Gold Project. This is an important step forward towards potentially advancing the Project to a viable commercial operation. We are uniquely positioned compared to other junior gold explorers because we have substantial mine infrastructure in place, including a new state-of-the-art 1,250-tonne per day mill, a completed tailings management facility, a 200-person camp, earth and civil works in place, a fully commissioned hoist and headframe, a shaft that is approximately 730-metres deep, mobile equipment and more than nine kilometres of underground development. We also have approximately C$687 million in tax loss pools that could be utilized in a potential viable commercial operation scenario. I am also pleased to report that the Company deployed shareholder capital efficiently, resulting in a finding cost of approximately C$7 per ounce5 .” | |
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