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Thursday, 30 May 2013
Rambler Metals makes third shipment to Transamine
Rambler Metals and Mining (LON:RMM) (CVE:RAB) has made a further shipment of copper concentrate from its bulk storage facility in Canada to offtake partner Transamine.
The miner shipped a further 6,112 wet metric tonnes (wmt), with average grades of the concentrate 28.2% copper, 6.57 g/t gold and 49.62 g/t silver.
It was the third load under the agreement with Transamine and takes the amount shipped since Rambler’s Ming mine started production a year ago to just over 18,000 wmt.
Rambler also reported recoveries from its Nugget Pond milling facility had averaged from 95% from an average head grade of approximately 4.5% copper.
During this same period nearly 80 wmt of copper concentrate was produced per day with some peak days of 115 wmt of concentrate or 30 tonnes of copper metal.
The mine had also seen a number of significant advancements and remains profitable despite the recent gold and copper price fluctuations, the miner said.
George Ogilvie, Rambler’s president and chief executive said: "The continuing shipment of copper concentrate demonstrates our ability to produce and we are extremely pleased to see further progress and optimization of our mine and mill.
“Realizing first profit and free cash flow from operation in fiscal Q2 we are confident that the production can be maintained over the fiscal Q4 period with over 20,000 tonnes of high-grade ore in drilled and blasted inventory waiting to be processed.”
Ogilvie added that exploration to test the up-dip extension of the 1807 zone had intersected high-grade mineralisation and the company is assessing the information to determine whether new stoping blocks can be added.
In June, Rambler also expects to start to exploration of down-plunge of the ore body, initially with the goal of converting inferred mineralisation to the measured and indicated category and then for “pure exploration”.