Rambler Metals & Mining PLC
06 February 2007
Rambler Metals & Mining Plc
6th February 2007
Rambler Provides Summary Overview of Exploration Success
London, England & Baie Verte, Newfoundland and Labrador - In conjunction with
its announcement earlier today of the listing of its ordinary shares on the TSX
Venture Exchange, Rambler Metals and Mining plc (TSXV:RAB, AIM:RMM) is pleased
to provide a summary overview of the exploration results from its Rambler
copper-gold project located in Newfoundland and Labrador.
The Rambler project covers the historic Ming and Ming West copper-gold mines on
the Baie Verte Peninsula on the island of Newfoundland. Exploration work
carried out by RMM since its listing on the London AIM market in early 2005 has
primarily focused on evaluating and delineating the Ming Footwall deposit. This
work has also resulted in the discovery of the Upper Ming Footwall deposit, and
has confirmed extensions to both the historic Ming and Ming West deposits. All
of these deposits are located within reasonable proximity to the historic
underground mine infrastructure, which the company is about to begin dewatering
and rehabilitating.
Ming Footwall Zone
The Ming Footwall Zone (MFZ) is located approximately 100 metres below and
generally parallel to the historic Ming Mine workings. To date, the deposit
has been identified along a 1500 metre plunge length and has an apparent width
of 50 to 150 metres. The deposit thickness generally exceeds 20 metres, up to
70 metres and is being evaluated as a potential low-cost, bulk underground
mining operation. Highlight drill results from the MFZ include:
Hole From To Length (m) Length Cu Au (ppb)
(m) (m) (feet) (%)
RM04-03 913.07 925.21 12.14 39.83 2.32 165
RM04-03 934.64 956.74 22.10 72.51 2.26 79
RM06-03b 891.70 898.10 6.40 21.00 3.40 208
RM06-03b 903.80 914.80 11.00 36.09 2.44 95
RM06-03b 922.20 940.20 18.00 59.06 2.28 95
RM06-03e 934.65 953.38 18.75 61.52 1.89 127
including 934.65 943.83 9.18 30.12 2.70 143
RM04-04 1092.09 1099.45 7.36 24.15 1.96 71
RM06-04b 1070.00 1085.00 15.00 49.21 2.44 89
RM06-04b 1107.50 1121.00 13.50 44.29 2.45 91
RM06-04c 1061.50 1098.70 37.20 122.05 2.23 84
RM06-04c 1111.00 1130.63 19.63 64.40 2.89 296
including 1114.02 1124.59 10.57 34.68 3.73 496
RM06-04d 1074.00 1092.00 18.00 59.06 2.55 244
including 1074.00 1084.50 10.50 34.45 3.16 271
RM06-04e 1071.50 1089.00 17.50 57.41 2.00 124
RM06-04e 1094.90 1106.90 12.00 39.37 2.04 122
RM06-04e 1118.00 1135.40 17.40 57.09 3.18 214
RM06-04e 1162.00 1168.00 6.00 19.69 2.24 65
RM05-08 1220.65 1232.89 12.24 40.16 1.92 185
including 1220.65 1226.45 5.80 19.03 2.61 248
RM06-17 782.50 788.50 6.00 19.69 2.33 108
Upper Ming Footwall Deposit
The Upper Ming Footwall Deposit is a new high-grade discovery that sits
stratigraphically between the Ming Deposit and the Ming Footwall Zone. It has
been intersected thus far along a 150 metre plunge length where it ranges
between 6.0 and 14.4 metres in thickness. The newly discovered deposit is both
open across strike and down plunge. Highlight drill results are as follows:
Hole From To Length (m) Length Cu Au(ppb)
(m) (m) (feet) (%)
RM06-04f 974.00 980.00 6.00 19.68 14.55 1614
RM06-04g 966.10 980.50 14.40 47.23 5.16 471
including 967.50 970.80 3.30 10.82 14.60 1370
RM06-04h 962.60 972.50 9.90 32.47 3.51 388
including 968.60 970.60 2.00 6.56 11.56 1335
Ming and Ming West Deposits
The historical mine production from the Rambler Project originates from the Ming
and Ming West massive sulphide deposits. These parallel, plunging deposits are
on the same stratigraphic horizon and separated by 250 metres. Mining was
carried out from surface to approximately 750 metres vertical depth along a 1500
meter plunge length. A decline that extended to 820 vertical meters and a shaft
that extended to 650 vertical meters facilitated this production. Historical
production from the Ming Deposit was estimated at 2.1 million tons grading 3.5%
Cu and 2.4 g/T. Mining ceased in 1982 when workings reached an historic
neighbouring property at a time of low copper prices. The properties have since
been consolidated and now comprise part of the Rambler Project. At the time of
mine closure it was estimated that 350,000 tons of 3.4% Cu and 1.7 g/T Au
remained in the Ming Deposit and that 55,000 tons of 6.5% Cu and 1.1 g/T Au
remained in the Ming West Deposit (near the 1800 level) adjacent to the property
boundary. These estimates are historical in nature and are not NI-43-101
compliant and therefore should not be relied upon (see notes below). Recent
drilling undertaken by Rambler Metals and Mining to test for further extensions
of these deposits across the former property boundary has resulted in the
discovery of interpreted extensions to both of these deposits. Highlight drill
results from these deposit extensions are described below.
Hole From To Length (m) Length Cu Au(ppb)
(m) (m) (feet) (%)
RM03-02 1138.50 1141.00 3.53 11.58 3.26 3022
RM05-08 1024.71 1029.48 4.77 15.65 1.96 8787
RM05-15 1054.20 1059.00 4.80 15.74 2.90 589
RM06-04e 885.50 897.50 12.00 39.36 3.18 3835
A complete listing of RMM drill intersections to date, as well as corresponding
maps and figures can be found at www.ramblermines.com.
Delineation and exploration drilling continues at the Rambler Project employing
two drill rigs both of which are successfully utilizing directional drilling
technology. It is anticipated that new drilling results will be available for
release within the next week. As underground dewatering and rehabilitation
advances throughout the year a con-current program of underground drilling will
be initiated. The underground drilling program will greatly increase the rate
of delineation drilling of the deposits which in turn will allow Rambler to more
quickly evaluate potential mining scenarios.
George Ogilvie
VP & COO
Rambler Metals and Mining
Canada Limited
Leslie Little, Company Secretary
Rambler Metals & Mining Plc
Tel No: 020-7661-8104
Mark Graves, P.Geo. is the Qualified Person responsible for the technical
content of this release. Mr. Graves is an employee of Rambler.
Drill intercepts quoted are core lengths; true widths are estimated to be 90% to
95% of the intersected core lengths. National Instrument 43-101 compliance
information regarding sampling and analytical protocols pertaining to the
Rambler Project can be accessed via the following link: http://
www.ramblermines.com
Mineral exploration on the Rambler property is being conducted by RMM personnel.
All drill holes have produced 47.6 millimetre diameter (1.875-inch) NQ diamond
drill core. The drill core is descriptively logged on site, aligned, marked for
sampling and then split in half, longitudinally, using a diamond saw blade.
One-half of the core is preserved in core boxes for future reference. The
samples comprising the other half of the core are bagged, sealed and delivered
directly to the analytical laboratory by RMM personnel. Base metal-bearing
samples are nominally 1 metre to 1.8 metres (3.28 to 5.90 feet) in length except
where specific geologic parameters require that a smaller interval be sampled.
Samples with suspected precious metal content are nominally one metre or less,
depending on the geological circumstances.
The sawed samples are delivered directly to Eastern Analytical Limited in
Springdale, Newfoundland by RMM personnel where they are dried, crushed and
pulped. Samples are crushed to approximately -10 mesh and split using a riffle
splitter to approximately 300 grams. The sample split is pulverized using a
ring mill to approximately 98% minus 150 mesh. In addition to regular samples,
blank samples and quarter-split samples are also submitted for crushing/pulping.
The sample pulps are picked up directly at Eastern Analytical Limited by RMM
personnel and returned to the project site at which point analytical standard
samples and duplicate samples are inserted into the sample stream. The quality
control procedures utilized by RMM have been approved by Scott Wilson Roscoe
Postle Associates Inc. (Scott Wilson RPA). Their review was the basis of a
technical report written by Scott Wilson RPA on the Rambler project conforming
to NI 43-101 Standards of Disclosure for Mineral Projects. All sample rejects
are also retrieved from Eastern Analytical by RMM personnel and securely stored
by RMM.
The sample pulps are shipped by courier to Activation Laboratories Ltd. in
Ancaster, Ontario for analysis. A typical analysis consists of three,
industry-standard components:
(1) an aqua regia digestion followed by a 34 element ICP analysis,
(2) a gold assay consisting of a one assay ton fire assay with finish by atomic
absorption, and
(3) an assay of specific base metals by aqua regia digestion followed by atomic
absorption spectroscopy for those elements which exceed the limits of ICP
accuracy.
Check assays for the Rambler project are being conducted by ALS Chemex, using
industry-standard techniques posted on their website. Check assays are also
routinely performed at Eastern Analytical Limited. The drill program and
sampling protocol are being supervised by Mark Graves, P.Geo.; a Qualified
Person as defined under the Canadian Securities Administrators' National
Instrument 43-101.
Historical Estimates
For the Ming Mine, the most comprehensive historical estimates available derive
from a review prepared in 1982 by D.M. Burton ('Burton'). In 1997 Canamera
Geological Ltd. ('Canamera') was commissioned to do a feasibility study on the
Rambler Property for Ming Minerals and drew heavily on Burton's work. Canamera
reported remaining estimates on the property. Canamera concluded that the
outlined mineral resource would not support an economically feasible operation.
Note that these estimations and resources definitions are not in compliance with
Canada's NI 43-101.
Burton (1982) classified the MFZ resources as 'Possible'. The other resources
have not been classified by Canamera (1997). These estimates are historical
estimates and which should not be relied upon. See the technical report on the
Rambler property available at www.sedar.com for the full details and
qualifications regarding these estimates.
The TSX Venture Exchange has neither approved nor disapproved the contents of
this press release. The TSX Venture Exchange does not accept responsibility for
the adequacy or accuracy of this release.
This information is provided by RNS
The company news service from the London Stock Exchange
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