+ 500,000,000 lbs contained Copper
Rambler Copper - Gold property, located on the Baie Verte Peninsula of Newfoundland.
Message: Rambler Metals and Mining plc: Environmental Registration Filed for
Mining of Nugget Pond's Crown Pillar
LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND and LABRADOR--(Marketwire - Jan. 12, 2011) - Rambler Metals and Mining plc (TSX VENTURE:RAB)(AIM:RMM) ('Rambler' or the 'Company') is pleased to announce that on December 20, 2010 the Company officially submitted the environmental registration for the mining of the Nugget Pond Crown Pillar, located less than 150 metres away from its gold hydromet processing facility.
The Company is also pleased to announce that it recently completed processing a bulk sample for Crosshair Exploration and Mining Corp. (TSX:CXX)(NYSE Amex:CXZ) ('Crosshair') with ore from its Golden Promise Project.
The crown pillar contains an historical resource of approximately 8,100 tonnes of ore grading 7.7 g/t of gold equating to 2005 troy ounces in-situ. An open pit mining method is planned.
All ore processing will be completed at the Company's own Nugget Pond Hydromet Facility. Historical recovery averaged 95%.
The undertaking was registered on December 20, 2010; the deadline for public comments is January 26, 2011; and the minister's decision is due by February 3, 2011.
The Company plans on mining this crown pillar in calendar Q2, 2011.
Completed toll milling contract for Crosshair Exploration and Mining Corp. in November 2010.
Peter Mercer, VP Corporate Development commented;
"We are pleased to have some additional mining at the Crown Pillar while construction is taking place at the Ming Mine. While the mining of Crown Pillar itself will be of short duration there remains much exploration potential both within our own mining lease and over the entire mineralized trend.
In addition the successful toll milling of Crosshair's bulk sample confirms our belief that the Nugget Pond facility is amenable to a wide range of ore types and will allow Rambler access to further business opportunities on the Baie Verte peninsula with a view to becoming the premier gold and base metal hydrometallurgical facility in the region."
Nugget Pond Crown Pillar
Rambler acquired the rights to the 140L mining lease, which encompasses the Crown Pillar, through its purchase of the Nugget Pond processing facility in 2009 for C$3.5 million. (See RMM press release dated 27 October 2009) While the original intent of the purchase was solely for the facility itself, the added bonus of acquiring the mineral rights to the surrounding area has allowed Rambler's geologic team to evaluate the historical resource potential within the past producing property. (See RMM press release dated 26 January, 2010). This historical resource estimate is non NI43-101 compliant and cannot be relied upon in any way.
The historical resources remaining at Nugget Pond are considered by Rambler to be highly prospective and hold significant value. With the crown pillar accessible from surface and sitting less than 150m from the primary crusher the project will require a low capital cost investment with quick start up and minimal operating costs.
In November 2010 a total of 2,241 tonnes were received from Crosshair's Golden Promise deposit located less than 250 kilometres from the Nugget Pond facility. The material was successfully processed over a 9 day period resulting in a small gold dore poured at the end of the program. Rambler would like to thank Crosshair for the opportunity to process its material and wishes the company success in bringing the property closer to production.
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.
Rambler Metals and Mining is Junior Mining Company that has 100% ownership of the Ming Copper-Gold Mine in Baie Verte, Newfoundland and Labrador, Canada. Our objective is to become a mid-tier mining company by bringing the Ming Mine into production, discovering new deposits and through M&A's. Following the acquisition of the Ming Mine, Rambler, listed on the London AIM in 2005 and Toronto TSX-V in 2007.
The Ming property had been a former underground copper and gold producing mine that ceased production when the deposit reached a then third party property boundary. This neighbouring property was subsequently consolidated before being brought into Rambler's portfolio. Rambler now owns a 100% interest in the property.
The area where the mine is located is a former mining centre and subsequently good infrastructure exists including roads, fresh water, hydro, access to a working port while the town of Baie Verte, population 1,300 is located 17km away.
Over the last several years Rambler has been exploring on the property leading to the publication of three NI43-101 resource statements, a newly published reserve statement, the discovery of new mineralized lenses and the extension of pre-existing lenses. Today all mineralization remains open in multiple directions while, importantly, the deposit has not been cut-off at depth. The underground workings have been dewatered and services including air, water and electrical re-installed.
In October 2009, Rambler purchased an operational gold hydrometallurgical mill, Nugget Pond, which is situated approximately 40km from the Ming Mine. Rambler intends to expand the mill so that it is capable of handling massive sulphides from the Ming Mine and produce a copper concentrate with gold and silver as by-products. By utilizing the hydrometallurgical facility, in conjunction with the concentrator, the company anticipates increased gold recovery as well as recovering any free gold.
Following the successful publication of a positive Feasibility Study in 2010 Rambler has now entered the construction phase of the project and expects to bring the Ming Mine back into production in 2011.
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: George Ogilvie, P.Eng.
Rambler Metals and Mining
President and CEO
Rambler Metals & Mining Plc.
+44 (0) 20 8652-2700
+44 (0) 20 8652-2719 (FAX)
ORNandita Sahgal / Jeremy Stephenson
Seymour Pierce Limited
+44 (0) 20-7107-8000
ORKlara Kaczmarek / Philippe Polman
Pelham Bell Pottinger
+44 (0) 20-7861-3232
Ocean Equities Limited
+44 (0) 20-7786-4370
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