{"id":1107820,"date":"2019-03-27T19:37:38","date_gmt":"2019-03-27T19:37:38","guid":{"rendered":"http:\/\/resourceworld.com\/?p=55228"},"modified":"2019-03-27T19:37:38","modified_gmt":"2019-03-27T19:37:38","slug":"rubicon-unveils-110-gold-resource-increase","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1107820","title":{"rendered":"Rubicon unveils 110% gold resource increase"},"content":{"rendered":"
\"\"<\/a><\/p>\n

Rubicon\u2019s Phoenix Gold Project in the Red Lake mining camp of northwestern Ontario. Source: Rubicon Minerals Corp.<\/p>\n<\/div>\n

Rubicon Minerals Corp.<\/strong> [RMX-TSX; RBYCF-OTC] on Wednesday March 27 released an updated mineral resource update for its flagship Phoenix gold project near Red Lake, northwest Ontario.<\/p>\n

The company said measured and indicated resources at the site are up 110% to 589,000 ounces in comparison to the 2018 indicated resource of 218,000 ounces. However, grade of the latest measured and indicated resource estimate has dropped 2% to 6.26 g\/t gold from 6.37% in the earlier estimate.<\/p>\n

Rubicon said the increase in measured and indicated resources is mainly attributable to the company\u2019s successful 20,000-metre oriented infill drilling program in 2018. The main objective of that program was to improve confidence in the mineral resources above the 854-metre level.<\/p>\n

However, as a result of the successful conversion to measured and indicated resources, inferred resources have decreased 28% to 540,000 ounces of gold from 749,000 ounces in 2018. Over the same period, the inferred grade increased 9.0% to 6.53 g\/t gold from 6.00 g\/t gold.<\/p>\n

The company also said the 2019 mineral resource metrics are based on a 3.0 g\/t gold cut-off grade.<\/p>\n

Rubicon shares were unchanged at $1.18 on Wednesday and trade in a 52-week range of $1.00 and $1.73.<\/p>\n

The Phoenix Gold Project is an underground exploration project located in the district of Red Lake, in northwestern Ontario, 265 km northeast of Winnipeg, Manitoba.<\/p>\n

Rubicon owns 100% of the Phoenix Gold Project which consists of the high-grade F2 Gold Deposit, more than 9,000 metres of underground development, including a commissioned shaft that goes down approximately 730 metres below surface and surface infrastructure that includes a 1,250 tonne-per-day mill, a completed tailings management facility, electric power supply and substation.<\/p>\n

The property is centred on the historical McFinley Shaft (now called the Phoenix Shaft) and hosts a 200-person camp.<\/p>\n

Since acquiring the Phoenix gold project in 2002, Rubicon has conducted an extensive exploration program, which includes geological mapping, re-logging of selected historic boreholes, digital complication of available historical data, ground and airborne magnetic surveys, mechanical trenching, channel sampling, along with numerous drilling programs.<\/p>\n

The company recently commissioned its 1,250 tonne-per-day mill, work that included the processing of approximately 5,000 tonnes of development material to bed in the mill.<\/p>\n

\u201cThe significant growth in measured and indicated resources, without a significant decline in grade, brings additional confidence and validation for the Phoenix gold project and its potential as a commercially viable operation,\u201d said Rubicon President and CEO George Ogilvie.<\/p>\n

\u201cWe remain firmly on a path to building a conceptual mine plan with new economics for the Phoenix Gold Project, which will be reflected in a new PEA scheduled for the second half of 2019,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Rubicon Minerals Corp. [RMX-TSX; RBYCF-OTC] on Wednesday March 27 released an updated mineral resource update for its flagship Phoenix gold project near Red Lake, northwest Ontario. The company said measured… Read more »<\/a><\/span><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[622],"tags":[48],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1107820"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1107820"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1107820\/revisions"}],"predecessor-version":[{"id":1107821,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1107820\/revisions\/1107821"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1107820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1107820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1107820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}