GOLD: Rubicon updates on Phoenix construction

ONTARIO – Toronto-based Rubicon Minerals Corp. has updated its progress on the Phoenix gold mine and mill in the Red Lake area. The $241-million underground mine and 1,250-t/d mill will reach commercial rates in 2015 and operate for 12 years at an average annual output of 180,000 oz of gold.

Shaft sinking has reached 610 metres below surface. It will probably be deepened to further explore the mineralization at depth. Poor ground conditions in November and December 2013 slowed the pace of development, but Rubicon says the ground improved significantly in January 2013.

At the mineral processing plant, the foundation for the carbon-in-leach circuit is complete and the steel framework has been erected. Work is proceeding on the foundation for the remainder of the building. Rubicon has already ordered long lead time items, including the semi-autogenous grinding and ball mills, and the company expects delivery in due course. The selection and procurement of other processing equipment continues. The mill is to begin commissioning in Q2 2014.

Rubicon is working on an updated 43-101 resource report to be completed in a few weeks. Other aspects of the project are being studied for optimization.

See the latest presentation and a photo gallery for the Phoenix project at RubiconMinerals.com.