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Friday, 12 July 2013
Rambler Metals' partner files technical report on Green Bay
Maritime Resources, Rambler Metals and Mining’s (LON:RMMCVE:RAB) strategic partner, has filed the Technical Report to accompany the NI 43-101 compliant resource on its Green Bay property in Newfoundland.
At a 3 grams per tonne (g/t) cut-off grade, Green Bay contained 428,600 ounces of gold in the Measured and Indicated categories and 661,100 ounces Inferred.
The Green Bay property encompasses the Hammerdown gold mine, the Orion gold deposit, and the Lochinvar base / precious metals deposit.
Hammerdown was mined by Richmont between 2000 and 2004, producing 291,400 tonnes of ore at an average head grade of 15.83 g/t gold. A total of 143,000 ounces of gold were recovered during its life.
All ore was processed at the Nugget Pond mill, now owned and operated by Rambler, with an average gold recovery of 97.1%.
Rambler owns 17% of Maritime, which is the sole owner of Green Bay.
Rambler also owns and runs the Ming Copper-Gold Mine, which is located close to the Green Bay property on the Baie Verte peninsula, Newfoundland.