Production Approval Received for Nugget Pond Cr...
FOR: RAMBLER METALS & MINING PLC
TSX VENTURE SYMBOL: RAB
AIM SYMBOL: RMM
April 26, 2011
Rambler Metals & Mining Plc: Production Approval Received for Nugget Pond Crown Pillar Along With Environmental
Release for the Tilt Cove East Deposit
LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND AND LABRADOR--(Marketwire - April 26, 2011) - Rambler Metals &
Mining plc (TSX VENTURE:RAB)(AIM:RMM) ('Rambler' or the 'Company') is pleased to provide an update on both the
Nugget Pond and Tilt Cove gold projects.
HIGHLIGHTS
-- Final approval received for the Nugget Pond Crown Pillar project.
Contractors preparing to mobilize for open pit development. First
production planned for May 2011.
-- The Tilt Cove East Mine Project has been released from Environmental
Assessment. In addition, first comments have been received from the
Department of Natural Resources on the Development Plan. This project is
expected to begin in June 2011 with first production immediately
following the Nugget Pond Crown Pillar.
George Ogilvie, President and CEO commented:
"It is certainly exciting to see these two projects moving towards production and generating some early cash
flow for the company. The success of these operations further strengthens our belief that the Baie Verte
peninsula will be host to numerous profitable deposits that may continue to provide feed for our gold
hydrometallurgical facility."
Nugget Pond Crown Pillar
On April 18, 2011 the Provincial Department of Natural Resources has given Rambler the go ahead to mine all
remaining material in the Nugget Pond Crown Pillar, located just 150 meters from the processing facility. With
this final approval the company has signed work agreements with contractors for the drilling, blasting and rock
haulage. As of the date of this release all contractors have begun mobilization for pit preparation.
Rambler is anticipating that all material from this zone will be stockpiled and ready for processing by May
2011. Historical resource estimates have indicated that the amount of material available will be between 10,000
to 15,000 metric tonnes grading between 5 to 11 g/t gold. Historic mill recoveries from the main zone are in
the range of 92-96%.
Tilt Cove - East Mine Deposit
The company is also pleased to announce that on April 6, 2011 the East Mine Project was officially released
from further environmental assessment. Subsequent to this approval the company has also received preliminary
comments from the Department of Natural Resources on the project's Development Plan submission. A response to
this initial review is now being compiled and will be re-submitted over the coming weeks.
The planned work by Rambler will see trucking of the 50,000 to 80,000 tonnes of unconsolidated material,
grading from 2 to 4 g/t gold, 23 kilometres to the Nugget Pond facility. Recent leachability test work has
shown that the gold leach extraction to be 96 % over a 24 hour period.
The company anticipates that final approval will be received for this project over the next 2 months with
mining beginning in early June following processing of the Nugget Pond Crown Pillar.
All resource estimates are historic in nature and non NI43-101 compliant. The potential quantity and grades
reported are conceptual in nature and there has not been insufficient exploration to define a mineral resource.
Further, it is uncertain if further exploration will result in the discovery of a mineral resource.
Larry Pilgrim, P.Geo. 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 plc.
A qualified person has not done sufficient work to classify the historical estimate as current mineral
resources, the issuer is not treating the historical estimate as current mineral resources and the historical
estimate should not be relied upon in any way. Subsequently the economic viability of this proposed operation
has not been determined.
All tonnes reported are dry metric tonnes.
Forward Looking Statement:
Some of the statements contained herein may be forward-looking statement, which involve known and unknown risks
and uncertainties. Without limitation, statements regarding future plans and objectives of the Company are
forward looking statements that involve various degrees of risk. It is important to note that the Company's
actual results could differ materially from those in such forward-looking statements.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Rambler Metals and Mining
George Ogilvie, P.Eng.
President and CEO
709-532-4990
OR
Rambler Metals & Mining Plc.
Corporate Office
+44 (0) 20 8652-2700
+44 (0) 20 8652-2719 (FAX)
www.ramblermines.com
OR
Seymour Pierce Limited
Nandita Sahgal
+44 (0) 20-7107-8000
OR
Seymour Pierce Limited
Jeremy Stephenson
+44 (0) 20-7107-8000
OR
Pelham Bell Pottinger
Charles Vivian
+44 (0) 20 7861 3126
OR
Pelham Bell Pottinger
Philippe Polman
+44 (0) 20 7861 3921
OR
Ocean Equities Limited
Guy Wilkes
+44 (0) 20-7786-4370
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
-0-
Rambler Metals & Mining Plc
Latest directors dealings
- 30 minutes ago Close Brothers Group
- 30 minutes ago Savannah Energy
- 48 minutes ago Mid Wynd International Inv Trust
- 1 hour ago Dillistone Group
- 1 hour ago SSP Group