ONTARIO RUBICON MINERALS of Toronto has decided to dewater the Phoenix mine near Red Lake in preparation for underground exploration.
Work will be carried out in two phases. First, the mine will be dewatered and the existing shaft and hoist facilities will be rehabilitated. A budget of $1.25 million has been approved for this phase. That will allow drilling of the Titan 24 anomaly that extends 1,500 m laterally from the F2 mineralized zone and to depths of 760 m.
The second phase, which will probably be approved later this year, includes an additional 10,000 m of drilling. Deepening the shaft will be considered to provide better access to the F2 zone.
Rubicon has signed an option to acquire a 100% interest in the Phoenix claims, plus a reservation on surface title in favour of mining activities adjacent to the property. The company previously reported results that included 42.2 g/t Au over 11.0 metres and 24.4 g/t over 17.0 metres.
For more details from the Phoenix project, visit www.RubiconMinerals.com.