This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Rubicon Minerals Provides Construction And Development Update On The Phoenix Gold Project


TORONTO, Jan. 28, 2013 /PRNewswire/ - Rubicon Minerals Corporation (TSX: RMX | NYSE-MKT: RBY) (" Rubicon" or the " Company") provides an update on the construction and development of the Phoenix Gold Project.

Phoenix Gold Project Development 1

Shaft Sinking

The Company continues to make good progress with the sinking of the shaft. As of today, the shaft bottom is at 610 metres (" m") below surface. Contractor crews are currently excavating the 610 m level station. During November and December of 2012, the Company encountered unfavourable ground conditions that impacted the rate of development. Ground conditions have improved significantly in January 2013. Shaft sinking continues and the Company expects better development rates going forward. The Company continues to evaluate the economics of the shaft extension and its use for further resource identification.

Mill and Carbon-in-Leach ("CIL") Plant Construction

The mill CIL building foundation has been completed, as well as the erection of the steel framework. The Company continues construction of the remaining mill building foundation. Subject to the Company's ongoing progress and evaluation of the construction and development of the Phoenix Gold Project, the delivery of long lead time items, such as the "SAG" (semi-autogenous grinding) and ball mills, remain on schedule, consistent with the Company's current proposed timeline. The selection and procurement of the processing equipment is ongoing. The Company plans to complete the mill construction in the second quarter of 2014 1.

Updated Mineral Resource

Rubicon plans to complete and release the summary of its updated mineral resource at the end of the first quarter of this year. The report will include data from over 100,000 m of core drilling since late 2011.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $155.00 -12.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs