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Posts tagged ‘Rubicon Minerals Corp (RMX)’

HFT speed bump gets green light as OSC approves Aequitas Neo Exchange

November 17th, 2014

by Greg Klein | November 17, 2014

A new bourse that intends to block high frequency trading, Aequitas Neo Exchange received regulatory approval from the Ontario Securities Commission on November 17. With the go-ahead taking effect March 1, Aequitas Innovations says it’s on track to launch its trading and listing platforms during the first half of next year. “The private markets platform will then follow, subject to regulatory approval.”

HFT speed bump gets green light as OSC approves Aequitas Neo Exchange

The new exchange’s primary distinction will be processing delays, or “speed bumps,” as well as higher fees directed at HFT traders. The OSC lists Aequitas Innovations owners as Barclays Corp, CI Investments, IGM Financial, ITG Canada, OMERS OCM Investments II, PSP Public Markets and RBC Dominion Securities. “Before launching operations, the ownership structure will be further expanded, with the aim of reaching an optimal representation of all types of market stakeholders—both small and large,” Aequitas stated.

In a September Financial Post op-ed, David Beatty argued that “HFT firms buy and sell ahead of others, and sell or buy back milliseconds later at absolutely no risk and for great profit. When a traditional trader does this, he is illegally front-running the market.”

Beatty, an Aequitas supporter who holds board positions with a number of companies including Rubicon Minerals TSX:RMX, added: “For a number of dominant HFT market participants, these companies have simply become a commodity, traded not for their fundamentals, but for how they fit in an algorithm executed almost at the speed of light.”

In October the TMX Group announced it would apply a speed bump to its Alpha exchange. Speaking to the National Post, ITG Canada managing director Doug Clark called the plan “TMX Group’s attempt to compete with Aequitas.”

Red Lake reports

April 8th, 2013

Confederation/Redstar and Rubicon work towards Ontario gold PEAs

by Greg Klein

Next Page 1 | 2

Should Newman Todd begin with a small starter pit or go directly underground? That’s the question Confederation Minerals TSXV:CFM will address with its just-commissioned preliminary economic assessment, to be released later this year. On April 8 the company announced another batch of assays from its winter drill campaign in northwestern Ontario’s Red Lake Greenstone Belt. Some highlights include:

  • 1.92 grams per tonne gold over 36 metres, starting at 103 metres
  • (including 7.56 g/t over 1 metre)
  • 1.3 g/t over 38 metres, starting at 75 metres
  • (including 9.1 g/t over 1 metre)
  • 2.62 g/t over 19 metres, starting at 202 metres
  • (including 10.9 g/t over 1 metre)
  • 63.1 g/t over 0.5 metres, starting at 297 metres
  • 1.21 g/t over 22 metres, starting at 297 metres
  • (including 8.66 g/t over 1 metre)
  • 1.82 g/t over 16 metres, starting at 53 metres
  • (including 2.54 g/t over 9 metres).
Confederation/Redstar and Rubicon work towards Ontario gold PEAs

Mineralization closer to surface distinguishes
Newman Todd from other Red Lake projects.

The down-hole depths provided don’t reflect vertical depths. Intercept true widths weren’t available. No topcut was applied to assays.

Confederation describes the Newman Todd structural/alteration system as approximately 200 metres in width, with significant intercepts to depths of 850 metres from surface. Most of the April 8 assays came from drilling “within a relatively restricted area” about 200 metres along the zone’s strike length and at least 50 metres on sections perpendicular to strike, the company added. The maiden resource and PEA will focus on the project’s Hinge zone.

“One of the things with Red Lake and this type of geology is that it tends towards more vertically oriented systems,” Confederation president/director Brian Bapty tells ResourceClips. “But we have a very, very long strike length of 1.8 kilometres with good grades near surface. So if you look at other people drilling at Red Lake, they tend to be drilling quite deep. We can find near-surface ounces, which are cheaper to drill, but they don’t speak to the size of the opportunity.”

With size, however, comes challenges. “One of the problems of having a strike length of 1.8 kilometres by at least a kilometre deep is that it would take us years and cost millions to drill the entire thing out. So we want to focus our business plan on the most economic ounces, on what’s the best way forward—a starter pit or direct to underground. Answering those questions early is important to us.”

More assays are pending and drilling continues. Winter allows work on a frozen lake and marsh, Bapty points out. “After break-up we can move back onto solid ground.”

Confederation funds and operates the project under option with Redstar Gold TSXV:RGC. With its initial $5-million work requirement already complete, Confederation can achieve a 50% interest by paying Redstar $75,000 and 150,000 Confed shares. The PEA, along with another 500,000 shares, would boost Confederation’s portion to 70%.

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Rubicon reports Ontario Phoenix gold assays as high as 152.4 g/t over 1.5m

May 14th, 2012

Resource Clips - essential news on junior gold mining and junior silver mining Rubicon Minerals Corp TSX:RMX announced drill results from its Phoenix Gold Project in the Red Lake gold district of Ontario. Assays include

156.9 g/t gold over 1.7 metres (including 221.6 g/t over 1.2 metres)
152.4 g/t over 1.5 metres (including 437.8 g/t over 0.5 metres)
8 g/t over 5.5 metres (including 44.7 g/t over 0.5 metres)
8.2 g/t over 12.8 metres (including 30.6 g/t over 2 metres)
28.8 g/t over 5.0 metres (including 135 g/t over 0.9 metres)
4.1 g/t over 17.4 metres (including 21.4 g/t over 1 metre)
33.6 g/t gold over 3.0 metres

President/CEO David Adamson remarked, “These results continue to build upon those released March 29, 2012. Our infill drilling near surface to date has been successful and has added to our geological confidence in these areas as well as identifying extensions to known zones. Drilling of expansion target areas continues.”

View Company Profile

Bill Cavalluzzo
VP Investor Relations

by Dennis Dale

Rubicon reports Ontario Gold Assays as high as 156 g/t over 4m

December 9th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningRubicon Minerals Corporation TSX:RMX announced drill results from the F2 Gold System of its Phoenix gold project in the Red Lake gold district of Ontario. Highlights include

13.1 g/t gold over 1.1 metres
8 g/t over 2 metres
90.9 g/t over 0.5 metres
184.7 g/t over 0.5 metres
6.2 g/t over 2 metres
23.3 g/t over 1 metre
6.1 g/t over 4 metres
4.5 g/t over 7.5 metres
3.8 g/t over 9.5 metres
4.2 g/t over 26.6 metres (including 16.9 g/t over 1 metre)
10.7 g/t over 3.7 metres (including 34.8 g/t over 1 metre)
8.1 g/t over 4 metres (including 18.5 g/t over 1 metre)
20.5 g/t over 1 metre
156 g/t over 4 metres (including 1,219.6 g/t over 0.5 metres)
5.2 g/t over 6 metres

President/CEO David Adamson said, “These latest results are encouraging. Firstly, they identify an emerging shallow target area, and secondly and perhaps more importantly they are confirming and extending known high-grade gold intercepts in the important area around 1,200 metres, an area where we are assessing the potential to optimize the PEA mine plan grades through further drilling. Our exploration to date extends to only moderate depths compared to other major deposits in the Red Lake gold district and we are looking at ways to drill below 2,000 metres to test whether the F2 Gold System extends to depth.”

View Company Profile

Bill Cavaluzzo
VP Investor Relations

by Ted Niles

Rubicon reports Ontario Results of 61.6 g/t Gold over 2m

September 12th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningRubicon Minerals Corp TSX:RMX announced results from its Phoenix Gold Project in the Red Lake Gold District of Ontario. Assays include 61.6 g/t gold over 2 metres, 37.7 g/t over 3 metres, 28 g/t over 3 metres, 160.4 g/t over 0.5 metres, 128.2 g/t over 0.6 metres, 13.4 g/t over 5.1 metres (including 95.3 g/t over 0.5 metres) and 56.7 g/t over 1 metre (including 112.2 g/t over 0.5 metres).

The project has a March 2011 resource estimate of 1 million tonnes grading 14.5 g/t for 477,000 gold ounces indicated and 4.23 million tonnes grading 17 g/t for 2.32 million gold ounces inferred.

View Company Profile

Bill Cavalluzzo
VP of Investor Relations

by Greg Klein

Premier President Ewan Downie on Ontario gold assays of 297.61 g/t over 1m

April 28th, 2011

“The East Bay Project is a joint venture we’ve had for several years. Back in 2004-2005, we drilled off a deposit called the Green Altered Zone in the East Bay ultramafic trend in Red Lake—which isn’t the main mine trend, but it’s another favourable alternation horizon. We drilled around, did some feasibility work, and then it just sat on the shelf. Then, a few years back, Rubicon Minerals Corporation TSX:RMX discovered the F2 Zone, and we’ve been following its development. Goldcorp owns adjacent claims to F2, and they’ve been drilling off their own mineralization there. They’ve learned the style of mineralization, and Rubicon has helped us understand what structure they were looking at. East Bay is a fairly large project, and we have multiple similar structures to the F2 deposit that are completed untested by drilling. So in 2010, we did a winter program, and we intersected about an ounce and a half in a narrow-vein structure. It’s best to drill this target in the winter because of the dip of the rock, but we did a follow-up hole last summer; and we hit six ounces per ton, approximately 200 metres north of the original intercept. So this winter [2011], we completed a multihole drill program to follow up those first two high-grade intercepts.

“The first two holes that we released late last week were further step-out holes to the north. So, we’ve now extended the high-grade, narrow-vein structure to a strike length of 400 metres along strike. It remains open, and is wide open down dip. We drilled multiple more holes and are waiting on assays. It’s an early-stage target, and now we’ve identified that there are two parallel horizons. Hopefully, they’re continuous. It’ll take a lot more drilling to establish continuity. Right now, we’re contemplating putting a barge on the water and drilling there, or doing some additional land drilling—drilling down dip like we did last summer.

“As far as these assays are concerned, I’m a huge fan of narrow-vein, high-grade mineralization. That’s what’s made Red Lake. Any time you hit high grade in Red Lake it’s exciting, so we’re looking forward to the follow-up results to this.

“What Rubicon’s done is very positive for the East Bay trend, and it’s inspired us to go back and look at this joint venture with Goldcorp, which has resulted in a discovery already that could become pretty significant with additional drilling.

“We have another JV meeting in about a month—which we do every quarter—and by then we should have all of the results from this drilling. Then we’ll discuss what we do next on East Bay. Hopefully we’ll continue drilling this summer. We’ve got additional targets that remain untested. Right now we’ve got four holes over a strike length of 400 metres, so we need a fair amount of additional drilling before we look at a resource estimate. The objective is to drill off a sufficient resource that would justify an underground program.

“We’re still drilling on our main JV, which is the Rayhill Bonanza Project. We’re expecting, hopefully, some pretty exciting results in the coming week.”

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Rubicon Minerals reports Ontario Gold Assays up to 39.5 g/t over 17.3m

April 11th, 2011

Rubicon Minerals Corporation TSX:RMX announced assays from its Phoenix Gold Project in the Red Lake Gold District, Ontario. Highlights include 39.5 g/t gold over 17.3 metres (including 180 g/t over 3.6 metres), 54.4 g/t over 1.4 metres, 25.8 g/t over 7 metres (including 69.7 g/t over 2 metres), 34.8 g/t over 4.1 metres (including 123.5 g/t over 1 metre) and 77.9 g/t over 2 metres (including 298.4 g/t over 0.5 metres).

President/CEO David Adamson said, “The F2 Core Zone delineation holes have identified the emergence of several high-grade sub-zones within areas of previous wider spaced drilling which display good vertical continuity. This bodes well for future delineation and expansion drilling.” Rubicon expects to complete a preliminary economic assessment in Q2 2011.

View Company Profile

Bill Cavalluzzo
VP Investor Relations

by Ted Niles

Rubicon reports Ontario Gold Assays including 1351.8 g/t over 1.1m

January 11th, 2011

Rubicon Minerals Corporation RMX:CA announced assays from the F2 Gold System of its Phoenix Gold Project in the Red Lake Gold District, Ontario. Results include 70.9 g/t over 3.5 metres (including 245 g/t over 1 metre), 1,351.8 g/t over 1.1 metres, 37.8 g/t over 3 metres (including 102 g/t over 1 metre), 50 g/t over 3.4 metres (including 160.5 g/t over 1 metre), 36.3 g/t over 2 metres (including 71.5 g/t over 1 metre) and 45 g/t over 2.1 metres (including 90 g/t over 1 metre).

President/CEO David Adamson commented, “These latest results continue to demonstrate both the very high hit ratio of holes drilled to date since discovery in 2008 as well as the continued presence of significant high-grade gold in newly-tested areas. Of particular note is the extension of the system south of the already large 9X target area, which bodes well for further expansion of the F2 Gold System.”

View Company Profile

Bill Cavalluzzo
VP Investor Relations

by Ted Niles