Oct 1 2013
Rambler Metals and Mining plc ('Rambler' or the 'Company') today announces that approximately 7,800 wet metric tonnes ('wmt') of copper concentrate has been shipped to international markets from the Company's bulk storage facility in Goodyear's Cove, NL Canada. The Company's own sampling estimates an average grade of 30 per cent copper, 6.5 grammes per tonne gold and 30 grammes per tonne silver.
This is the fourth shipment as part of the off-take agreement with Transamine Trading SA ('Transamine') and brings the total to approximately 26,000 wmt since first concentrate production in late May 2012.
Since the last shipment in May 2013, the Company has been optimizing production through the Nugget Pond milling facility with copper recovery over the past two months averaging 95 per cent, with an average run of mine head grade of approximately 3.85 per cent copper. During this same period 83 wmt of copper concentrate (21 tonnes of contained copper metal) was produced per day with some peak days of over 100 wmt of concentrate.
Following the shipment the Company still has over 1,300 wmt of concentrate in storage at its Goodyear's Cove Storage Facility.
George Ogilvie, President and CEO of Rambler, commented:
"I am pleased to report that the Company continues to make good quality concentrate while overall copper recovery is exceeding forecasted levels. We have now supplied 26,000 wmt of copper concentrate which is 30 per cent of our original commitment to supply 85,000 wmt, after only 16 months of production, including a five month commissioning and ramp up period. We are now producing in excess of 2,000 wmt of copper concentrate on a monthly basis with August and September being 2,388 wmt and 2,484 wmt respectively."
ABOUT RAMBLER METALS AND MINING
Rambler is a mining and development Company that in 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.
Press release avilable from http://www.marketwired.com/
Source: http://www.ramblermines.com/