Rambler Metals and Mining (RMM)

Rambler Metals and Mining (RMM)

Rambler Metals and Mining (RMM) - Rambler Completes Scoping Study and Moves Ahead to Pre-feasibility

Rambler Metals and Mining plc is pleased to announce that the Board has resolved to progress its Ming copper-gold project located on the Baie Verte Peninsula of Newfoundland, Canada to the pre-feasibility stage following the receipt of a high level scoping study from SRK Consulting in conjunction with SNC Lavalin and Thibault Associates.

The study considered a 4,000 tonnes per day underground mine producing a copper concentrate with gold and silver credits, with a mine life of 12 years. 

Recoveries used in the study were based on metallurgical test work undertaken by SGS Lakefield under the supervision of Thibault Associates.  Ore processing for the Footwall Zones using standard grinding and floatation techniques is estimated to achieve a 98.6% copper recovery with a concentrate grade of 28.2%.  The test work on the massive sulphides produced lower recoveries, and a number of recommendations have been made to optimise the processing circuit, as well as incorporating a gold recovery circuit.

George Ogilvie, P.Eng, President and CEO, commented:
“We are delighted to be moving the project to the pre-feasibility stage. The scoping study has confirmed our belief that the resource we have delineated at the Ming project over the last three years is of sufficient size and grade to move ahead. We instructed SRK to examine the feasibility of a 4,000 tonnes per day operation as it was important for us to know that the bulk tonnage, low grade Footwall Zones at the Ming Mine are capable of sustaining a profitable long-life mining operation.
We will now commence a pre-feasibility study to determine the optimal mine-plan. This is most likely to be a two-phase operation; beginning with a lower rate of production from the massive sulphides and then moving on to the higher tonnage, lower grade Footwall Zones.”

About the Company
Rambler Metals and Mining plc was established to invest in the base metal sector in politically stable jurisdictions. Its principal project is the Rambler copper-gold property, located on the Baie Verte Peninsula of Newfoundland and Labrador, Canada. Rambler acquired the property from Altius Minerals Corporation in exchange for ordinary shares during 2005.

The Rambler property contains the former producing Ming and Ming West copper-gold mines. The Ming Mine last operated in 1982 and the Ming West Mine in 1996. Mining of the Ming Mine ceased when workings reached a neighbouring property boundary. Rambler Metals and Mining acquired the property after it had been successfully consolidated.

For more information please visit www.ramblermines.com.

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