Rubicon continues to advance its Phoenix Gold Project. 5.4 MW of Hydro One power was connected to the site during Q4, 2011. This power will enable the operations team to carry out the construction necessary to build the mine infrastructure and prepare the location for operation. Construction of the headframe extension which was also completed during Q4, went smoothly and without incident. Rubicon has now commissioned the refurbished hoist plant that will be capable of reaching a depth of 1,800 m (6,000 ft). The new system is now ready for use including preparation for shaft sinking from 338 meters down to 610 meters in 2012.
Date of issue: December 2011