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Rubicon Minerals Corp. (TSX:RMX,NYSEMKT:RBY) announced that it’s poured the first gold at its Phoenix project.
Rubicon Minerals Corp. (TSX:RMX,NYSEMKT:RBY) announced that it’s poured the first gold at its Phoenix project.
As quoted in the press release:
The construction of the mill is now complete. The commissioning of the mill circuit continues with the processing of low-grade mineralized material. The Company expects the commissioning phase to be completed in early July. The initial 8,023 metres of planned underground development was completed onJune 5, 2015. The Company plans to begin stoping on the 244- and 305-metre levels, following the completion of the commissioning phase. Our main objective is to optimize the stoping method and establish best stoping practices in a controlled environment before increasing tonnage towards permitted capacity. The information gathered from the initial stopes will allow us to better design and sequence future stopes.
Michael Lalonde, president and CEO of Rubicon, commented:
This first pouring of gold is a significant milestone for Rubicon. We would like to thank the Rubicon team for their dedicated effort in reaching this milestone. We would also like to thank our investors and stakeholders for their continued support, as we steward the Project towards projected commercial production.
Click here to read the full Rubicon Minerals Corp. (TSX:RMX,NYSEMKT:RBY) press release.
Rubicon Minerals is an emerging gold producer focused on delivering shareholder value by growing free cash flow in low-risk jurisdictions. The Company will act responsibly, earning the respect and support of the communities in which it operates. Rubicon is focused on the completion and start-up of its Phoenix Gold Project in Red Lake, Ontario. The start of projected initial production remains on schedule for mid-2015, based on current forecasts. The Phoenix Gold Project is fully permitted for projected initial production to 1,250 tonnes per day. In addition, Rubicon controls over 100 square miles of prime exploration ground in the prolific Red Lake gold district and approximately 350 square miles of mineral property interests in the emerging Long Canyon gold district that straddles the Nevada-Utah border in the United States. Rubicon’s shares are listed on the NYSE.MKT (RBY) and the Toronto Stock Exchange (RMX).