Rambler Provides Diamond Drilling Update at Its...
FOR: RAMBLER METALS & MINING PLC
AIM SYMBOL: RMM
TSX VENTURE SYMBOL: RAB
November 13, 2013
Rambler Provides Diamond Drilling Update at Its Ming Mine
Intersected 4.91% Copper, 2.86 g/t Gold and 22.61 g/t Silver over 3.00 Metres
LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND AND LABRADOR--(Marketwired - Nov. 13, 2013) - Rambler Metals and
Mining plc, a Newfoundland copper and gold producer, explorer and developer (AIM:RMM)(TSX VENTURE:RAB)
("Rambler" or "the Company") today provides an update on its diamond drilling activities over the past six
months at the Ming Copper-Gold Mine, located in Newfoundland, Canada.
The bulk of the diamond drilling was focused on the 1807 Zone, a high-grade copper zone, which has produced the
majority of mined tonnes since first declaring commercial production in November 2012. Mill feed grade from the
1807 zone over the last six months has ranged between 3.48 and 4.46 per cent copper, along with 1.35 to 1.83
grams per tonne gold. The average recovery at the Nugget Pond processing facility, over the same period, was 95
per cent and 63 per cent for copper and gold respectively.
Rambler's 2014 fiscal diamond drilling program is designed to add comparable grade to the resource/reserve base
by extending the 1807 zone both up and down plunge. An updated estimate of resources and reserves for the life
of mine is expected to be released early in 2014.
HIGHLIGHTS
COPPER
-- The Company completed 3,659 meters of diamond drilling in the 1807 Zone
and has been successful in extending the high-grade tonnes both up and
down plunge. Table 1 below shows highlights of significant
intersections.
-- The deepest drill hole completed to date has extended the resource model
210 meters (plunge length) below the deepest reserve level, 516L, while
drilling up plunge has extended the zone an additional 161 meters
(plunge length) above the shallowest reserve level, 329L.
GOLD
-- Rambler has also completed 2,098 meters of diamond drilling in the 1806
Zone, a high-grade gold zone. The new drilling intersected visible gold
in crosscutting fractures near the massive sulphide contact similar to
the intersections returned in previous drilling (see Press release 10
May 2013 with 227.15 g/t gold, 2.37 % copper and 60.17 g/t silver over
4.50 meters). Table 2 below shows highlights of significant
intersections.
George Ogilvie, P. Eng., President and CEO, said,
"We are pleased to see extensions of the known ore within the 1807 Zone outside the current mining blocks. This
should bode well for maintaining or adding to the reserves and resources in this area.
"Throughout the remainder of fiscal 2014 we shall remain focused on further exploration drilling with $2M being
assigned to this essential activity at the Ming Mine alone."
Extension of the Mined Copper and Gold Zones
With capital development five months ahead of the planned production levels, over the last two quarters more of
the underground resources have been available for developing new diamond drill bays. Drilling has been mostly
focused on extending the 1807 Copper Zone in order to replenish the reserves that have been mined since
declaring Commercial Production. Additional drilling is also being planned to test the mineralized contact to
the west of the 1807 Zone on the 457L level which remains unexplored to date. A drill bay has been established
on the 457L to accommodate this pure exploration drilling.
The fiscal 2014 exploration plan for the Ming Mine includes;
-- Extending known ore zones near the underground infrastructure. Positive
results already returned from drilling up and down plunge on the 1807
zone.
-- A two-phase outward exploration program on Rambler's two mining leases
and one mineral exploration licence. Phase 1 will include compilation of
all historical data, target generation and field orientation surveys,
while Phase 2 will include detailed geophysical, geochemical and
sampling of the defined targets along with follow-up trenching and
diamond drilling if required.
Table 1: Testing of the 1807 Copper Zone
----------------------------------------------------------------------------
From To Length Cu Au Ag
BHID Type (m) (m) (m) (%) (g/t) (g/t)
----------------------------------------------------------------------------
MMUG13-116 Composite 57.35 61.14 3.79 1.95 1.53 8.13
----------------------------------------------------------------------------
MMUG13-118 Composite 70.75 72.77 2.02 3.31 1.89 13.33
----------------------------------------------------------
Including 72.23 72.77 0.54 8.75 4.86 30.30
----------------------------------------------------------------------------
MMUG13-119 Composite 56.20 60.63 4.43 2.61 2.07 15.36
----------------------------------------------------------
Including 56.20 58.20 2.00 3.35 2.89 16.80
----------------------------------------------------------------------------
MMUG13-120 Composite 55.55 57.48 1.93 3.87 2.17 16.29
----------------------------------------------------------------------------
MMUG13-123 Composite 68.55 73.1 4.55 2.78 1.34 16.22
----------------------------------------------------------
Including 70.00 73.1 3.10 3.60 1.31 15.98
----------------------------------------------------------------------------
MMUG13-124 Composite 61.69 66.04 4.35 1.95 1.65 16.35
----------------------------------------------------------------------------
MMUG13-127 Composite 99.70 101.90 2.20 7.09 3.69 24.95
----------------------------------------------------------
Including 100.69 101.90 1.21 11.87 6.39 42.10
----------------------------------------------------------------------------
MMUG13-130 Composite 91.95 99.00 7.05 2.83 1.98 16.95
----------------------------------------------------------
Including 95.00 98.00 3.00 4.91 2.86 22.61
----------------------------------------------------------------------------
MMUG13-131 Composite 82.42 89.46 7.04 2.21 1.50 10.21
----------------------------------------------------------
Including 83.78 87.24 3.46 4.04 2.05 18.01
----------------------------------------------------------------------------
MMUG13-133 Composite 112.20 115.76 3.56 3.33 9.97 16.26
----------------------------------------------------------
Including 113.13 115.76 2.63 3.38 13.27 17.02
----------------------------------------------------------------------------
MMUG13-218 Composite 147.60 149.60 2.00 1.73 1.81 52.05
----------------------------------------------------------------------------
Note: drill intersections indicated are core length which is estimated to be between approx. 95% of true width
for this zone.
Table 2: Testing of the 1806 Gold Zone
----------------------------------------------------------------------------
From To Length Cu Au Ag
BHID Type (m) (m) (m) (%) (g/t) (g/t)
----------------------------------------------------------------------------
MMUG13-136 Composite 3.00 14.43 11.43 1.63 8.05 59.38
----------------------------------------------------------
Including 12.79 13.36 0.57 8.74 76.80 140.50
----------------------------------------------------------------------------
MMUG13-137 Composite 2.00 14.00 12.00 0.20 2.68 14.26
----------------------------------------------------------
Including 9.00 14.00 5.00 0.44 4.72 26.98
----------------------------------------------------------------------------
MMUG13-140 Composite 1.00 12.53 11.53 0.06 1.32 4.37
----------------------------------------------------------
Including 8.00 12.53 4.53 0.10 1.73 5.90
----------------------------------------------------------------------------
MMUG13-141 Composite 5.00 9.90 4.90 0.35 1.89 23.71
----------------------------------------------------------
Including 9.29 9.90 0.61 1.63 9.40 120.10
----------------------------------------------------------------------------
MMUG13-142 Composite 4.00 10.45 6.45 0.21 2.53 17.41
----------------------------------------------------------
Including 8.00 10.45 2.45 0.65 3.07 24.41
----------------------------------------------------------------------------
MMUG13-143 Composite 8.00 16.04 8.04 0.08 1.24 6.83
----------------------------------------------------------
Including 8.00 10.00 2.00 0.02 1.95 5.50
----------------------------------------------------------
Including 15.18 16.04 0.86 0.64 4.25 41.88
----------------------------------------------------------------------------
MMUG13-144 Composite 0.00 11.34 11.34 0.04 0.68 1.52
----------------------------------------------------------
Including 5.00 6.00 1.00 0.02 3.43 1.40
----------------------------------------------------------------------------
Note: drill intersections indicated are core length which is estimated to be between approx. 60-80% of true
width for this zone.
The Company currently has a total stockpiled inventory of 17,000 wet metric tonnes of copper ore available for
milling at both the Ming Mine and Nugget Pond ore pads. The grades are expected to be similar to the previous
six months feed grade. An additional 4,800 wet metric tonnes of the 1806 gold rich massive sulphide zone ore is
also available for milling through the hydromet milling system when the opportunity becomes available.
At the time of release there was 4,427 wet metric tonnes of copper concentrate in storage at the Goodyear's
Cove shipping facility. The Company hopes to ship its fifth shipment before the end of the calendar year. This
shipment will take Rambler's delivered concentrates to market in excess of 32,000 wet metric tonnes since the
first shipment in November 2012.
ABOUT RAMBLER METALS AND MINING
Rambler is a mining and development Company that in November 2012 brought its first mine into commercial
production. The group has a 100 per cent ownership in the Ming Copper-Gold Mine, a fully operational base and
precious metals processing facility and year round bulk storage and shipping facility; all located on the Baie
Verte peninsula, Newfoundland and Labrador, Canada.
The Company's Vision is to be Atlantic Canada's leading mine operator and resource developer through the
expansion of the Ming Mine, discovering new deposits and through mergers and acquisitions. Rambler listed on
the London AIM in 2005 and Toronto TSX-V in 2007.
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 Canada Limited.
Tonnes referenced are dry metric tonnes unless otherwise indicated.
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.
Caution Regarding Forward-Looking Statements:
Certain information included in this press release, including information relating to future financial or
operating performance and other statements that express the expectations of management or estimates of future
performance constitute "forward-looking statements". Such forward-looking statements include, without
limitation, statements regarding copper, gold and silver forecasts, the financial strength of the Company,
estimates regarding timing of future development and production and statements concerning possible expansion
opportunities for the Company. Where the Company expresses or implies an expectation or belief as to future
events or results, such expectation or belief are based on assumptions made in good faith and believed to have
a reasonable basis. Such assumptions include, without limitation, the price of and anticipated costs of
recovery of, copper concentrate, gold and silver, the presence of and continuity of such minerals at modeled
grades and values, the capacities of various machinery and equipment, the availability of personnel, machinery
and equipment at estimated prices, mineral recovery rates, and others. However, forward-looking statements are
subject to risks, uncertainties and other factors, which could cause actual results to differ materially from
future results expressed, projected or implied by such forward-looking statements. Such risks include, but are
not limited to, interpretation and implications of drilling and geophysical results; estimates regarding timing
of future capital expenditures and costs towards profitable commercial operations. Other factors that could
cause actual results, developments or events to differ materially from those anticipated include, among others,
increases/decreases in production; volatility in metals prices and demand; currency fluctuations; cash
operating margins; cash operating cost per pound sold; costs per ton of ore; variances in ore grade or recovery
rates from those assumed in mining plans; reserves and/or resources; the ability to successfully integrate
acquired assets; operational risks inherent in mining or development activities and legislative factors
relating to prices, taxes, royalties, land use, title and permits, importing and exporting of minerals and
environmental protection. Accordingly, undue reliance should not be placed on forward-looking statements and
the forward-looking statements contained in this press release are expressly qualified in their entirety by
this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and
the Company does not undertake any obligation to update publicly or revise any such forward-looking statements
or any forward-looking statements contained in any other documents whether as a result of new information,
future events or otherwise, except as required under applicable law.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Rambler Metals & Mining Plc
George Ogilvie, P.Eng.
President and CEO
709-800-1929 or 709-800-1921
OR
Rambler Metals & Mining Plc
Corporate Office
+44 (0) 20 8652-2700
+44 (0) 20 8652-2719 (FAX)
www.ramblermines.com
OR
Cantor Fitzgerald Europe
Stewart Dickson / Jeremy Stephenson
+44 (0) 20 7894 7000
OR
Blythe Weigh Communications
Tim Blythe / Halimah Hussain
+44 (0) 20 7138 3204
OR
Ocean Equities Limited
Guy Wilkes
+44 (0) 20-7786-4370
-0-
Rambler Metals & Mining Plc
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