Rubicon Minerals Corporation is an advanced stage gold development company, focused on responsible and environmentally sustainable development of its Phoenix Gold Project in Red Lake, Ontario towards projected gold production in 2014. Rubicon is well-funded and its flagship Phoenix Gold Project is fully permitted for production. In addition, Rubicon controls over 100 square miles of prime exploration ground in the prolific Red Lake gold district which hosts Goldcorp's high-grade, world class Red Lake Mine. Rubicon’s shares are listed on the NYSE.MKT (RBY) and the TSX (RMX) Exchanges. Rubicon’s shares are included in the S&P/TSX Composite Index.
Rubicon Minerals announces grid power connection to Phoenix project
Mineral explorer Rubicon Minerals (TSE:RMX) said that it has turned on its first grid power allocation of up to 5.3 megawatts from Hydro One Thursday at the Phoenix gold project, in Red Lake Ontario.
The Hydro-electric grid power now replaces and increases the company’s power capabilities versus existing diesel power, and allows Rubicon to save on costs while producing cleaner energy, it said.
In a statement, Rubicon’s vice president of operations, Claude Bouchard, commented: "Accessing grid power represents a major milestone in the further development of the Phoenix gold project."
"The ability to readily access grid power underscores the advantage of the project being situated in the heart of the established Red Lake gold district."
Rubicon said that it has completed its power line connection and infrastructure, and has obtained the required approvals and agreements from adjacent surface rights holders.
The company, which is an exploration and development company, is focused on developing the high-grade gold discovery at its Phoenix gold project in Red Lake, Ontario.
Rubicon controls over 100 square miles of exploration ground in the prolific Red Lake gold district, which hosts Goldcorp's high-grade Red Lake Mine.