Targeted Strategies for Today's Evolving Markets

MissionIR Blog

Rubicon Minerals (RBY) Issues Update on Canadian Mining Project

Rubicon Minerals Corp. issued an operational update on its mining activities in Canada, where the company is exploring and developing gold resources.

Rubicon Minerals has an active exploration and development program at the Phoenix Gold Project located in Red Lake, Ontario. The company is currently progressing on a $55 million drilling program at the property. The program is expected to last twelve months and result in production from the Phoenix Gold Project in the fourth quarter of 2013.

Rubicon Minerals has completed various infrastructure projects at the site to enable future production. These projects include a grid power and hoist system along with various other electrical projects. The company is also planning to resume construction of a mine shaft at the property with a goal of reaching a depth of 610 meters.

Rubicon Minerals has conducted drilling in the southern extension of the Phoenix Gold Project at both shallow and moderate depths. The company reported that an analysis of samples taken from this drilling indicates gold mineralization at these levels.

Rubicon Minerals has more than one hundred square miles of exploration areas in the Red Lake gold district in Canada.

For more information on the company, go to

Let us hear your thoughts below:

This entry was posted in Small Cap News. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *