Rubicon Minerals Corp. (USA) (NYSEMKT:RBY)’s unique Phoenix Gold Project


Dallas, Texas 09/16/2013 (Financialstrend) – Rubicon Minerals Corp. (USA) (NYSEMKT:RBY) has declared that a novel mineral-resource model is currently being created by SRK Consulting Inc for the F2Gold structure. This is made up of segment of the Phoenix Gold Project and will be based on the amended geological-rendition of different gold mineralization movements on this Project.

The uniqueness of the project

The unique interpretation will allow the company to assess numerous potential mining-extraction alternatives in a better manner. It will also help in the selection of a matching cut-off grade for an upgraded mineral-resource approximation. The primary objective of the project is to optimize Project financials. The company has also proposed to upgrade the Project financials in a new Preliminary Economic Assessment. This will be made up of upgraded mineral-resource estimation and will include completed-optimization researches.

Rubicon Minerals Corp. (USA) (NYSEMKT:RBY) will be using the capital that comes from  its shareholders, the resources of the company and its personnel to boost the growth of the  Phoenix Gold Project which is located in Ontario’s Red Lake gold region. It is projected that Phoenix’s cash cost/ounce is $629, with a mine-life estimate that will last 13 years and a 12-monthly fabrication process of 165,300 ounces of gold on an annual basis.

Friday’s trading session

In Friday’s trading, Rubicon Minerals Corp. (USA) (NYSEMKT:RBY)’s stock was up by 5.26%. The opening price of the shares was $1.33 which rose to an intraday high of $1.42 and dipped to close at $1.40. Approximately, 0.848 million shares were traded on Friday and the average volume of shares traded over 30 days were 0.584. The company has  market capitalization of $4.4.05 million.

The company

Rubicon Minerals Corp. (USA) (NYSEMKT:RBY) is a late phase gold-development company. It is concentrated on environmentally-sustainable and accountable growth of its Red Lake, Ontario Phoenix gold Project. The company also controls over 100 sq miles of massive exploration grounds in the rich Red lake gold region.