ONTARIO – Rubicon Minerals Corp. of Toronto says construction is on budget and schedule for startup in mid-2015 at its Phoenix gold project near Red Lake. The company has already spent $205.2 million on pre-production capital expenditures and anticipates a further $167.5 million will be spent before commissioning ($71.5 million for the mill, $42.0 million for underground development; $31.7 million for onsite construction, and $22.3 million for indirects and definition drilling.
Rubicon plans 8,023 metres of lateral and vertical underground development above the 685-metre level. So far, 875 metres or 10.9% is complete. Thirteen of the 18 drilling stations are done along the exploration drift on the 244-metre level, and two drills are in operation. Development of the main ventilation pilot raise from the 305-metre level to the surface will be complete by the end of June.
Civil, process and electrical engineering for the mill is 81.0% complete. The tank bases, pump bases, containment areas and pillars have been completed, and concrete will soon be poured in the thickener area outside the mill building. The equipment for the elution plant has been installed, with only some piping and electrical work remaining.
Other onsite construction continues, the company said. The Actiflo water treatment system has been commissioned. The raw ore bin has been installed at the headframe. Construction of the tailings management area, which was suspended over the winter, is also nearing completion.
View pictures of the Phoenix project construction and development at RubiconMinerals.com/Investors/Photo-Galleries/default.aspx.
(Editor's note: The images of visible gold are worth taking a couple minutes to enjoy. And the grades are exceptionally high.)
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