Rubicon Minerals Expands 2018 Exploration Program at Phoenix

Rubicon Minerals Corp. (TSX:RMX) provided the details of an expanded 2018 exploration program at its Phoenix gold project. The company also announced the appointment of Aleksandra (“Sasha”) Bukacheva, CFA, MSc., to its board of directors.

As quoted in the press release:

On January 23, 2018, Rubicon provided details on its 2018 Exploration Program, which outlined additional drilling, test mining and bulk sample processing activities to continue to advance the Project. On February 26, 2018, the Company completed a private placement flow-through financing for aggregate gross proceeds of C$10.9 million. The Company will use these funds for Canadian Exploration Expenses, allowing the Company to expand its 2018 Exploration Program.

Up to 24,000 metres (“m”) of drilling (previously 14,000 m); 280-metre exploration drift at the 610-metre level

Rubicon plans for an additional 10,000 m of infill and step-out drilling from the 305-, 610-, and 685-metre levels to potentially improve the mineral resource classification and grow the mineral resources at the Project. The Company also plans to add a 280-metre exploration drift at 610-metre level that runs parallel to the strike of the F2 Gold Deposit. This exploration drift will allow the Company to efficiently drill the lower portions of the deposit at 25-metre (or less) centres.

25,000 to 30,000 tonnes of bulk sample material from test mining (previously 15,000 to 25,000 tonnes)

Rubicon plans to increase the bulk sample material from test mining to a range of 25,000 to 30,000 tonnes. The additional mineralized material will come from the three test stopes (#977, #015, and #161) that have been substantially developed and drilled, reducing costs and timelines. The objectives of test mining are:

• Test various mining methods, which will help determine the appropriate method(s) in the future;
• Gather data from chips, muck samples and mapping, that will help to potentially reconcile, refine, and validate the new geological model and Mineral Resource Estimate;
• Restart the Project mill to ensure it continues to function as per design; and
• Collect cost data that would be beneficial for a potential feasibility study of the Project.

Click here to read the full Rubicon Minerals Corp. (TSX:RMX) press release.