Rambler Progresses in Bringing Its Copper and G...
FOR: RAMBLER METALS & MINING PLC
AIM SYMBOL: RMM
TSX VENTURE SYMBOL: RAB
February 16, 2011
Rambler Progresses in Bringing Its Copper and Gold Projects Into Production
LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND and LABRADOR--(Marketwire - Feb. 16, 2011) - Rambler Metals and
Mining plc (TSX VENTURE:RAB)(AIM:RMM) ('Rambler' or the 'Company') is pleased to provide an update on a number
of its active projects.
HIGHLIGHTS
/T/
-- Progress at the Ming Mine measured by the first arrival of necessary
equipment, continuation of exploration development, the 80% completion
of the new office and dry facility and continued work with the
Department of Natural Resources on necessary permitting
-- Update of Lower Footwall Zone resource estimate is on track for end of
February 2011 with the NI43-101 Preliminary Economic Assessment due for
release in Q3 2011
-- At the Nugget Pond Crown Pillar Project the Environmental Assessment has
been released by the Department of Environment and Conservation with no
conditions. The Company has submitted the Development Plan to the
Provincial Department of Natural Resources for approval.
-- The Tilt Cove East Mine Dump was officially registered for Environmental
Assessment on February 15, 2011. Public comments due by March 22, 2011
with Ministers decision due on March 31, 2011.
/T/
George Ogilvie, President and CEO commented:
"We continue to make steady progress in bringing the Ming Mine back into production in the second half of this
year. Once in production we anticipate releasing a NI43-101 preliminary economic study for the Lower Footwall
Zone that is not currently in our production forecast. It's anticipated this economic study will reveal
significant upside potential for the mine and will form the basis of future expansions.
In the short term we remain focused on bringing the Nugget Pond Crown Pillar and Tilt Cove East Mine Dumps into
production to generate some early cashflow from operations. These projects remain on schedule to begin mining
in Q2 2011."
Ming Mine
The Ming Copper Gold Mine is quickly transitioning itself from an historic exploration target into a newly
developed operation. It is anticipated that complete construction approval from the Provincial Department of
Natural Resources will be granted in the coming weeks. Once received the third and final tranche of financing
from Sandstorm Resources can be released.
Site construction is proceeding well with the new office and dry facility 80% complete. Mill foundation work is
completed and all major mill components have arrived onsite and are ready to move to the next phase of
construction.
Much of the underground equipment has also arrived at mine site including MT42 truck, ST1030 scooptram, 282
jumbo, production drill and McLean bolter. Other units are due for delivery in the forthcoming weeks. Finally,
exploration development continues on the 1700 level targeting a historical reference to wire gold.
The project remains on schedule for first production in the second half of 2011.
Lower Footwall Zone
The Lower Footwall Zone ('LFZ') resource is currently estimated at 8.2 million tonnes grading 1.65% copper (see
press release dated August 26, 2010). While none of this material has been included in the present Feasibility
Study the company has engaged the services of two independent consultants to publish a NI43-101 compliant
Preliminary Economic Assessment.
The LFZ has been defined with a strike length of 250 meters wide, plunge length of 1550 meters long, 200 meters
thick and hosts disseminated stringer chalcopyrite and pyrrhotite. Importantly the zone is open both up and
down plunge and has returned good copper grades over significant widths. The table below highlights a few of
these drill intersections while a complete list of all diamond drill information can be found on the company
website at www.ramblermines.com.
/T/
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Drill From To Length Cu Au Zn Ag
Hole (m) (m) (m) (%) (g/t) (%) (g/t)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
RM04-03 934.64 956.74 22.10 2.26 0.08 0.01 1.59
----------------------------------------------------------------------------
----------------------------------------------------------------------------
RM06-04c 1061.50 1098.70 37.20 2.23 0.08 0.01 2.19
----------------------------------------------------------------------------
Including 1114.02 1124.59 10.57 3.73 0.50 0.01 4.04
----------------------------------------------------------------------------
RM06-04e 1118.00 1135.40 17.40 3.18 0.21 0.01 2.81
----------------------------------------------------------------------------
RM06-04m 1116.50 1136.70 20.20 2.18 0.16 0.02 2.08
----------------------------------------------------------------------------
----------------------------------------------------------------------------
RM07-08d 1236.80 1252.60 15.80 2.01 0.07 0.01 2.32
----------------------------------------------------------------------------
RM07-08f 1215.60 1286.10 70.50 1.54 0.07 0.01 1.41
----------------------------------------------------------------------------
Including 1228.00 1233.30 5.30 4.53 0.16 0.03 3.75
----------------------------------------------------------------------------
----------------------------------------------------------------------------
RMUG08-73 135.70 270.40 134.70 1.05 0.10 0.01 1.01
----------------------------------------------------------------------------
RMUG08-129 223.80 278.20 54.40 1.81 0.17 0.02 1.48
----------------------------------------------------------------------------
----------------------------------------------------------------------------
----------------------------------------------------------------------------
/T/
In 2007 SRK Consulting (Toronto) compiled the first Preliminary Economic Assessment on mining of the LFZ. While
this report noted many positive elements for the estimated ten year operation, the LFZ resource was non-NI43-
101 compliant which meant the study could not be published and could be used for internal purposes only. Since
then the company has published two separate NI43-101 compliant resource estimates and is planning to update the
LFZ resource again towards the end of February. This new resource will include the entire surface and
underground drill database, updated 3D modeling of both the mineralization and mafic dykes and improved cut off
grades representative of current longer term copper prices. Each of the improvements is expected to have a
positive impact on the new resource estimate for the LFZ.
The new Preliminary Economic Assessment will include the new resource estimate in addition to all of the other
advancements the project has made over the last four years. These include but are not limited to a permitted
mill and tailings impoundment area; fully dewatered mine with air, electrical and water services installed;
underground mobile fleet; complete surface support facilities and a rehabilitated shaft manway. All of these
advancements should assist in reducing capital requirements as the project moves ahead.
The results of this study are expected to be released during Q3 2011 just prior to first production from the
Ming Mine.
Nugget Pond Crown Pillar
On December 20, 2010 the company officially registered the mining of Nugget Pond's crown pillar for
environmental assessment. We are pleased to announce that on February 15, 2011 this project has been released
from further environmental assessment with no underlying conditions. As a result the development plan for this
project has now been submitted and is under review by provincial authorities for their review and approval.
Rambler is anticipating mining this zone during Q2 2011.
Tilt Cove - East Mine Deposit
The Project was officially registered on February 15, 2011 with public comments due by March 22, 2011 and the
Ministry's decision due on March 31, 2011.
The company anticipates that approvals to proceed with this project will be available in Q3 2010.
Website: www.ramblermines.com
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Rambler Metals & 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
www.ramblermines.com
OR
Seymour Pierce Limited
Nandita Sahgal/Jeremy Stephenson
+44 (0) 20-7107-8000
OR
Pelham Bell Pottinger
Philippe Polman
+44 (0) 20-7861-3232
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.
Rambler Metals & Mining Plc
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