Rubicon Holds a Large Land Position in Alaska - 65,560 Acres in the Area of the Pogo Mine
“Why Alaska?”
- Proven "elephant" country but highly under prospected.
- Very prospective for new high-grade gold discoveries.
- Pro-development government.
- Secure land tenure and favourable tax regime.
Exploration
- Early stage exploration work focused on mapping and prospecting to identify targets for follow-up.
- Total of Cdn $6.2 million of exploration work since May 2007.
- While drilling failed to return significant gold values on the remaining claims, additional drilling is required to test this promising area.
In light of the Company’s focus on the Phoenix Gold project and the significant cost of claim ownership, it was decided to reduce the claim ownership down to those claims with the most favourable exploration potential. In that regard, the Company elected to cancel its option agreement with Kiska Minerals Corporation and also reduce its, 100%-owned mineral claims from 195,000 acres to 65,560 acres retaining those areas considered most prospective based on exploration work to date. The Company considers its Alaska properties are best advanced through partnerships and is currently pursuing possible option/joint ventures with several parties.
Date of Issue: December, 2011