CEO Vision & Strategy

“On the back of a successful 2017 Exploration Program, we are pleased to deliver the 2018 Mineral Resource Estimate, which demonstrates a significant increase in ounces, grades, and tonnes at the Phoenix Gold Project. This is an important step forward towards potentially advancing the Project to a viable commercial operation. We are uniquely positioned compared to other junior gold explorers because we have substantial mine infrastructure in place, including a new state-of-the-art 1,250-tonne per day mill, a completed tailings management facility, a 200-person camp, earth and civil works in place, a fully commissioned hoist and headframe, a shaft that is approximately 730-metres deep, mobile equipment and more than nine kilometres of underground development…”

“…We are pleased with the progress achieved to-date and we believe there is still further potential to improve upon the 2018 Mineral Resource Estimate. Our current exploration and test mining activities provides us with the potential opportunity to significantly enhance both the quantities and the classifications of the 2018 Mineral Resource Estimate at a future date.”

George Ogilvie, P.Eng.

President, CEO and Director 

 

Long-Term Vision: To potentially build a mid-tier gold Company over the next 5 to 7 years 

    • Potentially advancing the Phoenix Gold Project to  commercial production;
    • Organically growing the project pipeline from targets within 2 km proximity to the Phoenix Gold Project; and
    • Exploring our vast Regional Land Package in Red Lake.


2018 Exploration Program

Following a successful 2017 Exploration Program consisting of 28,500 metres (“m”) of oriented drilling and 10,000 m of historical core relogging, the Company is continuing to advance the Project with additional drilling, test mining and bulk sample processing activities in 2018. The objectives of the 2018 Exploration Program are to:

Complete the structural geology analysis of the F2 Gold Deposit - ACHIEVED
Potentially grow the mineral resources - ACHIEVED
Potentially improve the classification of the mineral resources - ACHIEVED
Potentially enhance and validate a new geological model and updated Mineral Resource Estimate with data from test mining, bulk sample processing and additional drilling - ONGOING
Deliver an updated NI 43-101 Mineral Resource Estimate in the second half of 2018 - ACHIEVED (earlier than planned)
Gather test mining data for a potential feasibility study of the Project.

The activities and objectives outlined in the 2018 Exploration Program are subject to change depending upon observations and outcomes gathered from the exploration activities.  

Up to 14,000 metres of drilling  

The 2018 Exploration Program plans for 10,000 m of infill and step-out drilling from the 305-, 610- and 685-metre levels to potentially improve mineral resource classification and grow the mineral resources within the F2 Gold Deposit. In addition, the Company plans up to 4,000 m of bazooka drilling, which entails drilling short holes within the developed test stopes to better define the extent of the mineralization in the stoping blocks and stoping shapes. 

Underground development and test mining

Rubicon has advanced 153.6 m in exploratory underground development at the Project on the 122- and 244-metre levels. The Company has begun stockpiling mineralized development material on surface that will ultimately be used for bedding in the mill. Upon completion of the development program, the Company will move into a test mining phase that is anticipated to commence in mid-2018. 

Rubicon has identified a number of stopes to conduct its test mining activities. These test stopes are located in the upper portion of main F2 Gold Deposit mineralized envelope and have substantial development and drilling already completed, enabling the Company to take advantage of sunk capital, reducing costs and timelines. Please refer to Diagrams 1 to 6 at the end of this release for visual depictions of the planned test mining. During the test mining program, Rubicon plans to:

Test various mining methods, including sublevel longhole stoping, which will help determine the appropriate mining method(s) in the future;
Gather data including chips, muck samples and mapping that will help to potentially reconcile, refine, and validate the new geological model and Mineral Resource Estimate; and
Collect cost data that would be beneficial for a potential feasibility study of the Project.  

Rubicon is planning to test mine an initial 15,000 to 25,000 tonnes of mineralized material from the test stopes. Based on the 2016 Mineral Resource block model, the estimated grades of the mineralized material from the test stopes are between 4 to 6 grams per tonne of gold. The Company cautions that these estimates are not necessarily representative of the estimated block model grades that Rubicon and its consultants are formulating for an updated Mineral Resource Estimate of the F2 Gold Deposit. Rubicon will continue to stockpile mineralized material on surface from the test mining until sufficient tonnes have been accumulated to be processed through the mill. 

Milling of bulk sample

The Company plans to re-start its mill at the Project to process the mineralized bulk sample material from the test mining. The mill is currently configured and permitted to process approximately 1,250 tonnes per day. Rubicon will charge up its mill using low-grade development material prior to processing mineralized material from test mining. The Company anticipates operating the mill between 700 to 1,000 tonnes per day and will clean out the mill following the processing of all bulk sample material. Rubicon anticipates mill start up to commence in mid-2018.