Rubicon Minerals (RBY) has gotten off to a great start in 2015. The company just announced the results from its recently completed 38,000 meter infill drilling program at the Phoenix Gold project's F2 Deposit. The results were pretty great: Rubicon continues to identify high-grade gold mineralization within the F2 Deposit, including assays of 157.2 g/t gold over 1.5 meters, 47.3 g/t gold over 1.3 meters, and 20 g/t gold over 2.4 meters.
In my original article on Rubicon, I argued that stock is a buy as the company's high-grade Phoenix Gold project is expected to begin production in mid-2015. One of the main arguments to my investment thesis was the massive upside exploration potential at Phoenix; I think there is far more gold at this deposit than what is currently estimated. So while Phoenix has a high-grade resource base of 3+ million ounces of gold already, I think future positive exploration results can easily boost this figure north of 4-5 million ounces, based on past drilling success and the potential of the deposit.
These infill drilling results further confirm my investment thesis that Rubicon is an excellent junior gold mining stock with big exploration upside. The company continues to identify high-grade gold mineralization, and will begin a surface drilling program in the first quarter of this year to potentially extend the F2 Deposit to the north. Definition drilling will also be ongoing throughout 2015 to further define resources at Phoenix. I had previously ranked Rubicon Minerals as #8 on my list of the top 10 gold stocks for 2015, but I think the stock may deserve a higher ranking if the company can continue its drilling success early in 2015. I plan on buying shares in the coming weeks.
