Rubicon Minerals Equity Research
I found some recent equity research conducted by Daniel Earle.
Rubicon provided an update from its ongoing Infill Drilling Program, at its Phoenix (100%) gold project in Red Lake, Ontario.
Daniel Earle suggests that addition growth potential exists with economic intercepts having been encountered outside of existing stope blocks in the upper levels of the deposit.
The company has completed 124 holes or 22 km of the 38 km of the program, drilling at 25m spacings to upgrade Inferred resources to Indicated in the upper part of the deposit. The company believes grade and continuity continue to meet expectations and suggested a conversion rate of 85% to Indicated as from its prior infill program is possible.
Some recent key results found that sparsely drilled areas contained
244L-69: 136.5 g/t Au over 4.0 m and 244L-83: 61.2 g/t Au over 2.6 m
244L-63: 34.8 g/t Au over 2.5 m and 244L-39: 20.6 g/t Au over 5.0 m (including 32.7 g/t Au over 3.0 m)
You can expect final infill drilling results in late 2014E/early 2015E, mechanical completion and commissioning in early 2015E, as well. There will be first gold production in mid-2015E.
