ONTARIO – The Ontario Ministry of Northern Development and Mines has approved the closure plan for the Phoenix gold project in Red Lake. The decision allows owner Rubicon Minerals of Vancouver to press forward with development and construction.
The initial discovery was made in March 2008, and the project is targeted for start-up in 2013. A 1,250-t/d mine and mill operation is planned. The underground mining method will be captive cut and fill with a paste fill plant, followed by gravity and carbon-in-leach (CIL) gold recovery. The mined grade is estimated to be 13.87 g/t Au, and 2.0 million oz of gold will be recovered over a 12-year project life. Resources include 1.0 million tonnes at 14.5 g/t Au in the indicated category and 4.2 million tonnes at 17.0 g/t in the inferred category.
In 2012 Rubicon will continue consultations with local Aboriginal groups, hoping to conclude mutually beneficial agreements covering the production phase of the Phoenix project.
There is a comprehensive photo gallery at www.RubiconMinerals.com as well as additional information about the Phoenix project.