.Rubicon Announces Amended Inferred Mineral Resource and Geological Potential Estimates for Phoenix Gold Project, Red Lake Ontario
Press Release Source: Rubicon Minerals Corporation On Thursday March 31, 2011, 9:06 am
TSX:RMX | NYSE AMEX:RBY March 31, 2011
TORONTO, March 31 /PRNewswire/ - Rubicon Minerals Corporation (RMX: TSX) (NYSE-AMEX: RBY) (the "Company" or "Rubicon") announced amended inferred mineral resource and geological potential estimates today for its Phoenix Gold Project, F2 Gold System. The amended estimates are a result of the previously announced review by the British Columbia Securities Commission of the Company's NI 43-101 technical report filed on January 11, 2011 (the "Report").
The following amended estimates were prepared by Peter George of Geoex Limited, the Company's independent QP and author of the Report (the "Author"), and are effective March 31, 2011:
1. Amended Inferred Mineral Resource Estimate
Polygonal Model Inferred Mineral Resource Estimate - Uncapped and Capped
Polygonal Model Inferred Mineral Resource Estimate
(5 g/t gold cut-off and 10 gram x metre product (core length) - surface to 1200 metres below surface)
Inferred Tonnes Gold (Uncapped Grade) 10-5-2 oz Capped Gold Grade*
Inferred gold grade
(g/t) Inferred
Ounces Inferred gold grade
(g/t) Inferred
Ounces
5,500,000 20.34 3,597,000 17.29 3,057,000
The polygonal model inferred resource estimate is based on composites which satisfy a 5 g/t gold cut-off and 10 gram x metre product (core length) as at July 31, 2010.
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