Rubicon Minerals - Phoenix Gold Project
2015
Produced 4,906 oz.
Produced 4,906 oz.
Rubicon Minerals took control of the Phoenix Gold Project (formerly McFinley Mines) in 2002 and began doing geological mapping, magnetic surveying, trenching, sampling and compiling historical data. From 2003 to 2015 Rubicon Minerals conducted intensive diamond drill programs (523,283 metres -1,716,807.7 feet) as well as geophysical and airborne LiDAR surveys. After a decade of research and exploration, the company released its mineral resource estimate in 2013 – 3.3 million ounces.
The Phoenix Gold Project went into production in 2015, and the mine poured its first brick in June. However, by the end of October 2015 mill operations were suspended and underground work ceased in November. The geology of the F2 deposit (Rubicon’s main gold deposit) proved more difficult to deal with than initially anticipated. In January 2016, Rubicon Minerals released a revised mineral resource estimate, where they reduced the estimate to 413,000 ounces.
In October 2016 Rubicon Minerals went into creditor protection, and the company refinanced and restructured. Under new management, Rubicon Minerals put together an 18-24 month exploration plan for the Phoenix Gold Project. The goal was to bring the Phoenix Gold Project back into production, but Rubicon Minerals wanted to make sure that they fully understand the geology of the property and production is feasible. Exploration resumed in April 2017, and 2018 has seen advanced exploration and the beginning of bulk sampling.
The Phoenix Gold Project went into production in 2015, and the mine poured its first brick in June. However, by the end of October 2015 mill operations were suspended and underground work ceased in November. The geology of the F2 deposit (Rubicon’s main gold deposit) proved more difficult to deal with than initially anticipated. In January 2016, Rubicon Minerals released a revised mineral resource estimate, where they reduced the estimate to 413,000 ounces.
In October 2016 Rubicon Minerals went into creditor protection, and the company refinanced and restructured. Under new management, Rubicon Minerals put together an 18-24 month exploration plan for the Phoenix Gold Project. The goal was to bring the Phoenix Gold Project back into production, but Rubicon Minerals wanted to make sure that they fully understand the geology of the property and production is feasible. Exploration resumed in April 2017, and 2018 has seen advanced exploration and the beginning of bulk sampling.