Monday 19th November 2018

Resource Clips

Rubicon issues Ontario Gold Inferred Resource Estimate: 6.2Mt at 20.1 g/t

Rubicon Minerals Corporation RMX:CA announced an NI 43-101 compliant inferred mineral resource for the F2 Gold System of its Phoenix Gold Project in the Red Lake Gold District, Ontario. At a 5 g/t cut-off, the F2 system has a total inferred resource of 6.2 million tonnes at 20.1 g/t gold, i.e. 4 million ounces gold.

President/CEO David Adamson commented, “We are very pleased with these initial results. They demonstrate that the F2 Gold System is already a significant sized gold deposit. Importantly, the gold grade of 20.1 g/t gold is high compared to most major gold deposits around the world and is consistent with the overall Red Lake camp average grade, which is Red Lake’s key advantage. Our objective now, through our ongoing delineation program is to upgrade part of this large inferred resource, move towards development and to continue to expand the gold system. Underground development on the project has already cross-cut mineralized zones at the 305 metre level and delineation drilling is underway.”

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Bill Cavalluzzo
VP Investor Relations

by Ted Niles

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