Mr. George Ogilvie reports
RAMBLER PRODUCES OVER 9,700 OUNCES OF GOLD EXPLORATION DRILLING INTERSECTS 49.69 G/TONNE GOLD OVER 4.45 METERS
Rambler Metals and Mining PLC is providing a project update for the 100-per-cent-owned Ming copper-gold mine in Newfoundland and Labrador's Baie Verte peninsula, Canada.
Highlights
Gold
- Total of 9,714 ounces of gold has been poured to date;
- Exploration diamond drilling in the 1806 zone returned new visible gold
intersections:
- 4.45 metres (core length) of 49.69 grams per tonne gold uncut (7.57 g/t gold
cut);
- 29.80 metres (core length) of 39.80 g/t gold uncut (4.47 g/t gold
cut).
EXPLORATION DRILL RESULTS
Au Au
From To Length (g/t) (g/t)
Drill hole (m) (m) (m) uncut cut
MMUG12-34 13.40 43.20 29.80 39.80 4.47
MMUG12-43 35.20 53.60 18.40 4.35
MMUG12-44 31.80 37.30 5.50 18.04 10.33
MMUG12-45 29.40 35.00 5.60 7.45 6.39
MMUG12-51 34.00 38.45 4.45 49.69 7.57
MMUG12-53 32.00 38.10 6.10 7.82
Copper
- Copper concentrate production scheduled to start in May, beginning with
commissioning ore;
- Continued development of the high-grade copper 1807 zone;
- Development face sampling in the 1807 zone 346 level returned grades of
5.08 per cent copper, 0.94 g/t gold, 10.04 g/t silver and 0.13 per cent zinc over 3.50
m;
- Development of the 1807 downramp has intersected a previously unknown
massive sulphide lens with grades of 4.05 per cent Cu, 4.08 g/t Au, 42.95 g/t Ag
and 0.31 per cent Zn over 1.5 m.
DEVELOPMENT FACE SAMPLING RESULTS
Sample Length Cu Au Ag Zn
Zone type (m) (%) (g/t) (g/t) (%)
1807 Chip 3.50 5.08 0.94 10.04 0.13
1807 Chip 2.50 2.43 2.45 25.81 0.19
including 1.50 4.05 4.08 42.95 0.31
LFZ Chip 4.00 1.86 0.15 0.93 0.06
George Ogilvie, president and chief executive officer, commented: "The early gold production from the 1806 zone has been successful, while the recent exploration drilling in new areas of the 1806 zone has also returned some very encouraging grades. While there is currently 16,000 tonnes of 1806 gold ore remaining to be processed, the recent exploration drilling results have outlined additional stoping blocks for future mining. Based on our projections gold processing should be completed by mid-May whereupon the company will begin running low-grade copper ore through the concentrator as part of the start-up and commissioning process. Once the process has been optimized, high-grade copper ore from the 1807 zone will be fed through the mill.
"Fiscal 2013 will be an important year for the company as we aim to place the company on a strong financial footing by executing our phase one high-grade low-tonnage mine plan with a mind to continuing to identify opportunities for optimization and possible expansion beyond 2014."
Gold production
Mining and processing of the 1806 zone have exceeded expectations with 9,714 ounces of gold poured to date. As mineralogical studies have indicated, the gold is predominantly free and located on mineral grain boundaries, therefore easily liberated with an overall average recovery of 90 per cent. The operations team at the mine and mill has done well with optimizing the early gold production for the company. On average the mine has produced over 700,000 tonnes per day of ore (1,100 ore/waste combined) and with the mill continually operating above 95-per-cent availability, its average daily throughput has been approaching 650 wet metric tonnes per day.
The associated table summarizes gold production from the Ming mine to date. Production from the 1806 gold zone is expected to continue up until mid-May, whereupon the company will change over to copper concentrate production.
GOLD PRODUCTION SUMMARY UP TO AND INCLUDING APRIL 10
Fiscal Q2 Fiscal Q3
Q2 total February, March, April, Total
2012 2012 2012
Milling days 62 28 29 10 129
Average MTPD (wet milled) 627 607 657 643 650
Milled (dry tonnes) 34,515 16,684 18,320 6,699 76,218
Mill head grade gold (g/t) 4.00 4.27 4.13 4.16 4.10
Recovery 89% 91% 89% 90% 90%
Gold poured (oz) 3,573 2,690 2,614 837(i) 9,714
Mill utilization 96% 97% 95% 95% 96%
Head grade, throughput and recovery are averaged for the entire month. Gold
pours occur every two weeks regardless of month-end.
(i) Estimated value.
Recent drilling of the high-grade-gold 1806 zone has confirmed the continuation of the zone up- and down-plunge. Several of the holes reported visible gold contained within and near the massive sulphides. This is a significant discovery for the Ming deposits in that it indicates the potential for more undiscovered high-grade gold zones in or near the massive sulphide lenses. The presence of visible gold is encouraging as it confirms that the gold has been remobilized by later deformation and in contact metamorphic aureoles with later mafic dike intrusions. In essence, the mafic dikes could be a marker for visible gold when such dikes are present in or near the massive sulphides. The mafic dikes are well documented and mapped within the Ming mine geological system. This theory will be tested and reported upon with further diamond drilling.
The associated table outlines the most recent assays from the exploration and delineation diamond drill programs.
EXPLORATION DIAMOND DRILL PROGRAM OF THE 1806 ZONE
Au Au
From To Length (g/t) (g/t)
Drill hole (m) (m) (m) uncut cut
MMUG12-34 13.40 43.20 29.80 39.80 4.47
including 25.60 43.20 17.60 66.79 6.96
including 38.10 43.20 5.10 227.65 21.19
including 40.60 43.20 2.60 425.74 32.54
including 40.60 41.60 1.00 933.92 40.00
MMUG12-41 42.60 46.60 4.00 4.25
MMUG12-42 63.70 67.30 3.60 1.69
MMUG12-43 35.20 53.20 18.40 4.35
including 43.20 49.90 6.70 5.74
MMUG12-44 31.80 37.30 5.50 18.04 10.33
MMUG12-45 29.40 35.00 5.60 7.45 6.39
MMUG12-46 29.40 35.30 5.90 5.95
MMUG12-47 28.60 35.00 6.40 4.05
MMUG12-48 31.90 37.70 5.80 2.57
MMUG12-49 29.50 36.20 6.70 4.17
MMUG12-50 34.95 38.40 3.45 3.20
MMUG12-51 34.00 38.45 4.45 49.69 7.57
including 35.85 37.95 2.10 104.97 15.72
MMUG12-52 39.80 42.80 3.00 3.54
MMUG12-53 32.00 38.10 6.10 7.82
MMUG12-54 34.80 39.20 4.40 1.50
MMUG12-55 42.00 43.60 1.60 3.74
Gold intersections above 40 g/t shown as cut and
uncut. Duplicate samples taken on all cut assays.
All quoted intersections are core lengths; true
widths are estimated to be 50 per cent to 75 per
cent of core length.
Copper production
The copper concentrator is ready for live ore and is scheduled to begin commissioning in May once the final ounces of 1806 ore have been processed and poured. Following a brief down period for mill cleanout, the concentrator will first begin with approximately 15,000 tonnes of lower footwall material grading between 1 per cent and 1.5 per cent copper. It is important to commission the mill on this lower-grade material so that no high-grade copper is lost to tails while the reagent mix is optimized to recoveries in excess of 92 per cent and while flotation operators gain experience with the new process. Once optimized, the 1807 zone will be the first high-grade ore to be blended and processed on its own. With the development of a dedicated haulage ramp and access headings already in place on the 338 level, 346 level and 361 level, the company is confident that concentrate production can be sustained once the plant has completed the commissioning phase and begun processing the high-grade ore.
Development of the 1807 zone on the 346 level is an important milestone for the Ming mine project in that it is the first time that Rambler has had an opportunity to map and sample this zone from underground openings. Recent chip samples across the developed ore face have confirmed the high-grade nature of the zone with grades returning 5.08 per cent Cu, 0.94 g/t Au, 10.04 g/t Ag and 0.13 per cent Zn over 3.50 m.
The 1807 access ramp below the historical 1600 level has also intersected a massive sulphide lens which has not been drill tested. The newly discovered massive sulphide lens is located on the hangingwall/footwall contact and recent chip sampling has returned 4.05 per cent Cu, 4.08 g/t Au, 42.95 g/t Ag and 0.31 per cent Zn over 1.50 m. It is believed that the new lens may be the up-plunge extension of the historical 1805 zone located approximately 100 m down-plunge. This zone has not been included in any of the company's resource or reserve estimations.
The associated table summarizes the highlights of the development chip and muck sampling to date.
DEVELOPMENT SAMPLING
Sample Sample Length Cu Au Ag Zn
Zone type (m) (%) (g/t) (g/t) (%)
1807 Chip 3.50 5.08 0.94 10.01 0.13
including 2.00 8.80 1.56 17.33 0.23
1807 30637 Muck 8.40 1.77 15.20 0.17
1807 30638 Muck 7.80 2.10 13.90 0.16
1807 30639 Muck 6.90 3.86 13.00 0.13
1807 30647 Muck 10.60 2.72 20.70 0.23
1807 30668 Muck 4.30 0.87 7.17 0.09
1807 30669 Muck 4.00 0.80 8.51 0.08
1807 Chip 2.50 2.43 2.45 25.81 0.19
including 1.50 4.05 4.08 42.95 0.31
1807 30627 Muck 2.80 0.58 5.30 0.04
1807 30628 Muck 0.65 0.34 7.95 0.09
1807 30629 Muck 0.49 0.19 3.80 0.05
1807 30657 Muck 1.40 0.38 12.00 0.12
1807 30658 Muck 1.01 0.27 8.40 0.22
1807 30659 Muck 1.17 0.45 10.30 0.15
1807 30663 Muck 4.30 2.67 42.90 0.22
1807 30664 Muck 3.80 5.50 43.00 0.40
1807 30665 Muck 3.20 1.96 32.80 0.25
1807 30666 Muck 2.38 1.96 21.80 0.54
1807 30667 Muck 3.40 2.14 31.10 0.49
1807 30686 Muck 0.33 0.30 3.00 0.16
1807 30687 Muck 1.17 0.65 12.50 0.53
LFZ Chip 4.00 1.86 0.15 0.93 0.06
including 1.00 2.90 0.35 1.50 0.08
Larry Pilgrim, PGeo, is the qualified person responsible for the technical content of this release, and has reviewed and approved it accordingly. Mr. Pilgrim is an independent consultant contracted by Rambler Metals and Mining.
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