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Monday, 24 June 2013
Rambler Metals & Mining sees encouraging grades from Ming exploration
Additional exploration at its Ming mine in Newfoundland has showed encouraging extensions of both copper and gold, said Rambler Mining and Metals (LON:RMM, TSE:RMM).
Drilling down-dip of the 1807 zone at Ming returned 5.80 metres of 13.18% copper, 4.58 grams per tonne (g/t) gold and 31.73 g/t silver, while testing of 1807’s upper extension showed 8.4 metres of 5.28% copper, 1.59 g/t gold and 11.77 g/t silver.
Rambler added that sufficient capital infrastructure has been put into the 1807 zone to provide access to six months of stope production, which is now allowing diamond drill bays to be developed with the goal of undertaking an in-fill and exploration drilling campaign.
Diamond drilling from the 329 level drill bay has demonstrated that the 1807 zone continues up-dip, potentially beyond the known ore reserve model.
The drilling has intersected significant copper and gold mineralization with development chip sampling confirming the high-grade nature and continuity of the zone.
An exploration drill bay has also been established down-dip on the 1807 zone where the massive sulphide horizon remains un-tested. Initial development chip and muck samples are encouraging and in line with previous diamond drilling in the area.
Rambler has also been exploring the 1806 zone (1,020 ft), with the latest results showing grades of 6.63 g/t gold, 1.42% copper and 19.17 g/t silver over 2.54 metres.
Rambler added that selective mining at 1806 had resulted in a stockpile of 11,135 tonnes of material with an average grade of 7.83 g/t gold, 96.09 g/t silver and 0.76% copper.
This will now be processed through the gold hydrometallurgical facility at Ming while the copper concentrator is offline for planned maintenance.
George Ogilvie, Rambler’s president and chief executive, said the early diamond drilling results confirmed the 1807 zone extends beyond the known reserve block and which will be tested by drilling in the second half of the year.
By end June, the company will also have sufficient 1806 zone material stockpiled at the mill to batch this ore through the gold hydromet plant, he added.
“Having the flexibility to seamlessly switch between copper concentrate and gold dore production based on business environment factors is an option that differentiates Rambler from many other junior producers.
"Production at the mill is at an all-time high with copper recoveries continually reporting at 95% or better, a measurable increase over the 92.4% budgeted for the fiscal year.”