Positive Results From its TITAN 24 Geophysical Survey
posted on Jan 21, 2009 02:18AM
Rambler Copper - Gold property, located on the Baie Verte Peninsula of Newfoundland.
|January 21, 2009|
|Rambler Metals & Mining Reports Positive Results From its TITAN 24 Geophysical Survey|
|LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND AND LABRADOR--(Marketwire - Jan. 21, 2009) - Rambler Metals and Mining PLC (TSX VENTURE:RAB)(AIM:RMM) is pleased to announce that it has received positive results from a Titan 24 DCIP and MT survey completed over the Rambler Property during July and August, 2008.
- Seventy-seven (77) separate anomalies of varying significance were identified on the nine (9) survey profiles.
- Two of these are deemed high priority and are represented by multi-parameter (MT+DC+IP) anomalies with characteristics indicative of highly conductive zones similar to the Ming ore bodies. A further twenty-eight (28) anomalies are deemed second priority, represented by varying degrees of chargeability and resistivity.
- One of the high priority anomalies occurs approximately 300 meters below the Ming Horizon and has an apparent strike length of 200 meters and a plunge of + 500 meters. The second high priority anomaly occurs higher in the stratigraphy above the Ming Horizon, approximately 150 meters below surface.
- A preliminary evaluation of all the 77 anomalies has been completed and the results are currently being imported into a 3D modelling program, which will incorporate all available geological data. After full data evaluation a drill program will be designed to test those anomalies determined to be of the highest potential for new discoveries.
Larry Pilgrim, Chief Geologist commented,
"Rambler is pleased with the new results produced from this survey. We are confident that the final data interpretation will generate new targets for further exploration; potentially making new discoveries of economically viable mineral deposits on the Rambler property. Of particular significance are those targets directly along plunge of the delineated ore bodies, like the 1807 and 1806 zones. Further extensions of these zones could increase our current NI43-101 resource estimate and ultimately strengthen the economics of the project."
The intent of the Titan DCIP and MT survey was to provide sub-surface resistivity and chargeability mapping both along strike and down plunge of the historically producing Ming ore bodies (2.1 Mt at 3.5 percent Cu and 0.07 oz/ton Au). The survey was designed to test the favourable Ming Horizon which hosts the high grade Ming ore bodies. The Rambler Property covers 2,400 meters of strike length of the favourable Ming Horizon of which only 500 meters had been previously tested at depth. The area hosts significant potential for further discoveries both down plunge and adjacent to the known deposits.
The Ming ore bodies are members of a special class of gold rich Volcanogenic Massive Sulphide (VMS) deposits. Three mineralization types are commonly recognized at Rambler; stratiform VMS; disseminated stringers of sulphides in the footwall zone (MFZ); and epigenetic shear-hosted mineralization overprinting VMS and MFZ mineralization.
The DC/IP component of the Titan survey provides an excellent means of delineating target mineralization within the top 500 to 750 meters, far beyond any historical geophysical surveys completed from surface in the area. The MT resistivity provides additional resistivity information from surface to depths beyond one kilometre. The MT resistivity is useful for mapping geological contacts with resistivity contrasts and deep conductors that can potentially represent alteration or mineralization.
Rambler Metals and Mining is pleased with the results of the Titan geophysical survey. A total of seventy-seven (77) separate DC, IP and MT anomalies of varying significance were identified on the nine (9) survey profiles.
Two (2) of these anomalies are deemed high priority and are represented by multi-parameter (MT+DC+IP) anomalies with low resistivity and high chargeability indicative of highly conductive zones similar to the Ming ore bodies. One of these, a +80.0 millirad chargeability anomaly occurs approximately 300 meters below the Ming Horizon and has an apparent strike length of 200 meters and a plunge of 500+ meters. The second +80.0 millirad chargeability anomaly occurs higher in the stratigraphy above the Ming Horizon approximately 150 meters below surface. Twenty-eight (28) are deemed second priority represented by varying degrees of chargeability and resistivity. Thirty-five (35) are classified as third priority, while twelve (12) are deemed low priority anomalies.
Rambler Metals and Mining has completed a preliminary evaluation of the 77 anomalies and is in the process of importing the results into a 3D modelling program. The 3D model will incorporate all historical and recent diamond drilling data, historical geophysical, geochemical data and surface geological mapping. The 3D interpretation will redefine the geophysical anomalies based on their proximity to known mineralization or location within the stratigraphic pile.
No other known source of conductive material (such as graphite) has been reported in the Rambler Camp from underground development or diamond drilling. Therefore Rambler Metals and Mining is confident that a number of the anomalous zones defined by the Titan survey are a result of accumulations of disseminated, stringer or massive sulphides similar to other known mineralization in the Rambler Camp. After full evaluation of all of the anomalies a drill program will be designed to test those determined to be of the highest potential for new discoveries.
Rambler Metals and Mining would like to thank the Government of Newfoundland and Labrador for its monetary contribution to the project under the Junior Exploration Mineral Incentive Program administered through the Department of Natural Resources.
For more information and a complete listing of all RMM drill intersections, corresponding maps, figures and NI43-101 compliance information please visit our website at 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.