Rambler Commissions Copper Concentrator Ahead o...
FOR: RAMBLER METALS & MINING PLC
TSX VENTURE SYMBOL: RAB
AIM SYMBOL: RMM
October 20, 2011
Rambler Commissions Copper Concentrator Ahead of Ming Mine Production
LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND AND LABRADOR--(Marketwire - Oct. 20, 2011) - Rambler Metals and
Mining plc (TSX VENTURE:RAB)(AIM:RMM) ('Rambler' or the 'Company') is pleased to provide an operational
progress update ahead of reopening the Ming Copper-Gold Mine.
HIGHLIGHTS
/T/
-- Commissioning of the copper concentrator commenced 17th October
-- Mill operation supported by procurement of processing reagents and by
strengthening of operations team
-- Initial ore to come from the 1806 Gold Zone with first stopes grading
4.15 g/t Au (7,045 Au oz) and 31.67 g/t Ag (53,881 Ag oz). Processing
anticipated to begin in November through the gold hydromet circuit which
historically has seen gold recoveries in excess of 90%
-- 9,500 wet metric tonne concentrate warehouse erected at Goodyear's Cove
Port in anticipation of concentrate deliveries
-- Rambler selects off-take partner for sale and marketing of its copper
concentrates
/T/
Nugget Pond Copper Concentrator Commissioning
With only electrical work still underway the Company has started the commissioning process of the Nugget Pond
Copper Concentrator. The initial phase of commissioning includes running water through the plant to ensure
tanks are water tight, pressurizing pipelines and ensuring valves are functioning properly. Once the new plant
is powered up, electrical motors will be checked for correct rotation. The Company anticipates being in a
position to "live" test the plant with ore from the Lower Footwall Zone (LFZ) once the electrical contract is
complete. Live commissioning will take four to eight weeks before full production is possible.
In recent weeks the Company has continued to strengthen the management team, recently hiring a Mill Operations
Foreman with 16 years of flotation experience and a Mill Metallurgist as it prepares to run "live" feed through
the copper concentrator.
In September the Company was also able to secure 38 tonnes of briquette style sodium cyanide with an additional
38 tonnes ordered and due for delivery in December. The Company believes that with the recent acquisitions it
has ample supply of sodium cyanide to operate either the copper concentrator or gold hydromet.
Ming Mine Start-Up
In light of securing a supply of sodium cyanide, and to maximize revenue and profits, the Company has decided
to process the 1806 Zone, which is high-grade gold, through the hydrometallurgical facility. In addition, given
that this zone is nearer surface cash costs will be lower during the initial start-up on account of trucking
costs.
Development crews are currently accessing the 1806 Zone and opening up the necessary stoping levels. Production
drilling is taking place in these stoping blocks; while first ore blasts have also taken place. ((i)see
detailed note below). The new development and opening of the first 1806 ore stoping blocks has also allowed the
delineation diamond drilling to resume, to confirm grade, ore outline and ore continuity. To date the results
have been consistent with reserve and resource tabulations. The 1806 zone orebody is open both up and down-
plunge and it is Rambler's intention to test these areas to see if additional reserves and resources can found.
The Company is also developing into the Lower Footwall Zone (LFZ) at the 1450L and is currently in
mineralization with access to 10,000 tonnes of sub 1.5% Cu. It's the Company's intention to use the LFZ
material for the "live" commissioning of the copper concentrator circuit. The use of lower grade copper ore
should mitigate the risk of high grade copper being lost to tailings during start up. Previous laboratory
testing of the LFZ revealed a 98% copper recovery with a 28% copper concentrate free of deleterious material.
The live testing will therefore be a good opportunity to confirm the laboratory testing which in turn can then
be used in any Preliminary Economic Assessment (PEA) of the LFZ.
As the Company continues with the commissioning of the copper concentrator it intends to process the 1806 ore
through the existing gold hydromet. The Company will have enough broken ore on the ground to supply the gold
hydromet continuously from November. Historically gold recovery from the gold hydromet has been in excess of
90%, compared to 67% gold recovery expected in the copper concentrator; also true for silver recoveries. The
Company believes this to be the most appropriate business plan as, coupled with the high gold price, it
maximizes revenue and profitability over the first three months of the Ming Mine start-up.
The strategy to mine the 1806 gold zone based on external market conditions emphasizes Rambler's flexibility to
adapt to its environment. This decision demonstrates the strength of the Ming Mine ore bodies and management's
ability to move quickly to changing market conditions and highlights the benefits of having a mill with dual
processing capabilities. Utilizing a hydromet process to maximize gold and silver recoveries or flotation
circuit to maximize copper recoveries is one of the key differentiators of the business.
As the development of the ore body continues and market conditions change Rambler will evaluate the economics
of each zone on an individual basis to ensure that profitability is maximized from all assets.
Port Construction
In the last several weeks the Company has completed the erection of its 9,500 wet metric tonne concentrate
storage facility at the Goodyear's Cove Port. In the coming weeks services including air, water and electrical
will be brought into the building.
An 850 tonne per hour conveyor system with stacker that will load the bulk ships has been ordered and is due
for delivery in late 2011.
Off-take Discussions
The Company is pleased to announce that it has concluded discussion with various off-takers for the sale and
marketing of the Rambler concentrates. An off-taker has been chosen.
George Ogilvie, President and CEO commented:
"We are pleased with the construction progress to date and grateful that the copper concentrator commissioning
process has started.
"We believe the decision to initially target our gold rich 1806 zone for processing through the existing gold
hydromet will result in greater gold recoveries, as compared to using the copper concentrator. It is our aim to
commission the copper concentrator with 'live' feed ore at the appropriate time.
"Having the ability to target different ore zones to maximize profitability that are either gold or copper rich
depending upon external environmental factors, such as commodity prices, emphasizes the flexibility and
resourcefulness of the Ming Mine and its management team. This is supplemented further by now having a mill
with dual processing capabilities; which the Company intends to leverage as we look to build the Company."
NOTES:
About the 1806 Zone
The 1806 Zone has a measured and indicated resource of 349,000 tonnes grading 0.60% Cu, 3.96 g/t Au (44,464 Au
oz) and 27.8 g/t Ag (312,526 Ag oz) (NI43-101 Publication August 11, 2010). Stoping levels have been opened up
on the 720L, 830L, 900L and 1030L providing access to 49,678 tonnes of ore (includes 15% dilution with zero
grade and 90% mining recovery) with a head grade of 0.5% Cu, 4.04 g/t Au (6,453 Au oz) and 30.61 g/t Ag (48,890
Ag oz) available for mining. There is also a surface stockpile of 3,164 tonnes of 1806 Zone ore at the mill
grading 1.29% Cu, 5.8 g/t Au (590 Au oz) and 48.4 g/t Ag (4,921 Ag oz).
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.
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 plc
George Ogilvie, P.Eng.
President and CEO
709-800-1929 or 709-800-1921
www.ramblermines.com
OR
Rambler Metals & Mining Plc.
Corporate Office
+44 (0) 20 8652-2700
+44 (0) 20 8652-2719 (FAX)
OR
Seymour Pierce Limited
Nandita Sahgal / Jeremy Stephenson
+44 (0) 20-7107-8000
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
- 27 minutes ago Close Brothers Group
- 27 minutes ago Savannah Energy
- 45 minutes ago Mid Wynd International Inv Trust
- 58 minutes ago Dillistone Group
- 1 hour ago SSP Group