Rubicon Minerals has expanded gold mineralization at its 100%-owned F2 Gold System at Phoenix Gold Project in Ontario, Canada.
Underground drilling program has been halted to allow shaft sinking to the 610m level at the prospect, which is part of the Red Lake gold district.
Rubicon Minerals President and COO Mike Lalonde said, "Also, as part of our ongoing optimization of the PEA1, we are evaluating the cost/benefit of extending the shaft beyond its currently envisaged 610 metres to better facilitate drill access to the sub 1,200 metre target area."
Currently, surface drilling program targeting expansions to the existing gold deposit is underway.
Underground infill drilling program for a 1,200m target area has been completed; assay results on the WLB2 Zone has increased continuity of developed mineralization in this zone.
Results include 198.6 g/t gold over 1.0m (5.79 oz/ton gold over 3.3ft) in hole 305-03-172, 55.8 g/t gold over 2.0m (1.63 oz/t gold over 6.6 ft) in hole 305-03-173 and 18.9 g/t gold over 5.0m (0.55 oz/t gold over 16.4 ft) in hole 305-03-176.
The company is currently developing the WLB2 Zone between the crown pillar and 750m below surface and over an interpreted strike length of 580m.
Infill mineralization in the 122-10 Zone has also been expanded with 15.8 g/t gold over 2.9m (0.46 oz/ton gold over 9.5ft) in hole 305-03-172, part of a broader intercept grading 5.3 g/t gold over 11.9m (0.15 oz/ton gold over 39.0 ft) intersected between vertical depths of 952 to 963m below surface.
Rubicon is carrying out selective drilling in the 1,200m area to test presence of an elevated resource grade and plans to drill additional holes in this target area.
Drill hole F2-2012-06A-W1 intercepted 18.8g/t gold over 2.7m (0.55 oz/ton gold over 8.9ft).
