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Rubicon Minerals Corp.
Summary
| Project: | Phoenix | |
|---|---|---|
| Deposit: | Phoenix | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 1/7/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 7-1-2020: Rubicon Minerals Corp. announces a Resource Estimation report for its Phoenix deposit at the Phoenix project. Updated mineral resource estimate for project. TORONTO, Ontario, January 7, 2020 – Rubicon Minerals Corporation (TSX: RMX | OTCQX: RBYC | |
| Resources: | (Resource, M+I): 3.908Mt @ 6.45g/t Au at project | |
| CP/QP: | [Resources]: Michael Willett, Isaac Oduro, Tim Maunula (Internal;T. Maunula & Associates Consulting Inc.) | |
| ABSTRACT: | TORONTO, Ontario, January 7, 2020 – Rubicon Minerals Corporation (TSX: RMX | OTCQX: RBYCF) (“Rubicon” orthe “Company”)is pleased to report updated mineral resource estimates(collectively, the “2020 Mineral Resource Estimate”) for the Phoenix Gold Project (the “Project”), prepared in accordance with National Instrument 43-101 of the Canadian Securities Administrators (“NI 43-101”). An updated NI 43-101 technical report for the Project will be filed on www.sedar.com within 45 days. Rubicon has commenced a Feasibility Study on the Project and anticipates its completion in the second half of 2020. Rubicon President and Chief Executive Officer George Ogilvie, P.Eng., stated, “The expansion of the Measured and Indicated mineral resource estimate above 800,000 ounces has given us the confidence to begin mine planning and engineering work at the Phoenix Gold Project, with the goal of demonstrating the Project’s commercial viability. We have accordingly initiated a Feasibility Study on the Project, and anticipate its completion in the second half of this year. We have commenced feasibility work on the surface infrastructure, primarily with respect to TMF upgrades and geomechanical work relative to future underground excavations.” “The updated Mineral Resource Estimate reflects all drilling information up to September 30, 2019. We have since completed more than 3,000 m of drilling and anticipate providing an update on the related assay results soon. We are continuing infill drilling at the F2 Gold Zone 2, targeting the high-grade Inferred mineral resource estimate blocks between the 976- and 1,098-m Levels, where we see a strong possibility of upgrading a portion of the 190,000 ounces of the estimated Inferred mineral resource to the Indicated category, at a minimum. Any incremental expansion of the Measured and Indicated mineral resource estimate will be factored in the Feasibility Study.” “I am also encouraged to see that the Measured and Indicated mineral resource estimate currently only extend down to the 976 m Level, which could mean significantly lower sustaining capital development requirements in the mine plan of the Feasibility Study compared to the 2019 PEA.” | |
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