Rambler Metals and Mining Produces Over 5,000 Ounces of Gold and Intersects 278 g/t Gold Over 2.60 m in Exploration Drilling
- Fiscal Q2 gold production of 4,022 ounces (as at January 31, 2012)
- Total of over 5,000 ounces of gold has been poured to date at the Ming Mine
- Exploration diamond drilling in the 1806 zone returned new visible gold intersection of 2.60 metres (core length) of 8.10 oz/ton gold (278 g/t gold uncut)
- Continued development of the high grade copper 1807 zone with live ore commissioning for the concentrator scheduled for fiscal Q3 2012
- Development face sampling in the 1807 zone returned grades of 4.48% copper, 0.83 g/t gold and 8.88 g/t silver over 3.40 meters
Peter Mercer, Vice President Corporate Development, commented:
"We are pleased with the continuous improvements at the Ming Mine, both underground and at the milling facility. We are also encouraged by the discovery of new visible gold near our current stoping levels; however, our focus remains on optimizing our processes to ensure that we maximize the potential of the underexplored areas of the Ming Mine.
"We look to continue to develop and increase our revenue stream to ensure that the Company continues to grow over the near term."
The operations team continues to optimize gold production from the Ming Mine. The average daily throughput for January was 600 mtpd with the highest one day throughput being 695 mtpd. This production rate confirms the projected tonnage rate determined by the Company's feasibility study, noting that the reported recovery of gold through the plant is nearing 92%.
Since the start of gold production in November 2011, Rambler has poured 3,563 ounces for the quarter ending January 31, 2012. The higher than projected refined ounces is a result of slightly higher head grades than the estimated 1806 reserve grade. The table below summaries the company's gold production to date including preliminary results for the beginning of fiscal Q3 2012.
Table 1: Gold Production Summary to Date.
Fiscal Q2 Fiscal Q3
Mined (tonnes) 5,160 13,829 19,933 38,922 12,441 - - 51,363
Milling Days 3 29 30 62 20 - - 83
Milled (tonnes) 1,538 16,126 17,995 35,659 11,357 - - 47,016
Mill Head Grade Gold (g/t) 3.53 3.72 4.40 4.00 4.48 - - 4.13
Recovery 87 % 88 % 90 % 89% 91 % - - 90 %
Gold Produced (Oz) 147 1,650 2,225 4,022 1,417 - - 5,439
Gold Poured (Oz) - 423 3,140 3,563 1,462 - - 5,025
Mill Utilization 100 % 93 % 95 % 96% 100 % - - 97 %
The mills performance during the early processing of the 1806 has exceeded expectations and the exploration diamond drilling program has been particularly exciting, including the discovery of new visible gold intersections down plunge of the 1806 zone. In the past the Company has reported visible gold deeper in the mine, in and around the historic 1700 ft level (see press release dated 10 May 2011), but these types of grades have never been reported this high in elevation or adjacent to our current stoping blocks on the 100 lv.
The diamond drilling results in Table 2 indicate the discovery potential for additional high grade gold mineralization at the Ming Mine. While the drilling was originally part of an exploration program, having the intersection located just 30 meters from existing underground infrastructure the Company plans to develop across the zone to better understand the controlling structures hosting the gold mineralization. This development can then be utilized as ore access for future production.
Down plunge of the discovery has not been adequately tested for several hundred meters and will be incorporated into the Company's exploration program.
Table 2: Exploration Diamond Drill Program of the 1806 Zone.
Drill Hole From(m) To(m) Length(m) Au(g/t)
MMUG12-32 46.60 55.10 8.50 4.10
Including 50.40 55.10 4.70 5.04
MMUG12-34 (cut) 13.40 43.20 27.80 4.70
Including (cut) 25.60 43.20 17.60 6.96
Including (cut) 38.10 43.20 5.10 21.19
Including (uncut) 40.60 43.20 2.60 277.84
MMUG12-36 29.30 45.60 16.30 4.25
Including 40.50 45.60 5.10 6.20
MMUG12-38 25.60 32.60 6.60 4.62
MMUG12-40 (uncut) 11.60 49.40 24.80 5.94
Including (cut) 45.30 49.40 4.10 11.33
Including (uncut) 45.30 49.40 4.10 33.33
Note: Gold intersections above 40 g/t shown as cut and uncut. Duplicate samples taken on all cut assays.
All quoted intersections are core lengths; true widths are estimated to be 50-75% of core length.
Development into the high grade copper 1807 zone is continuing and the Company anticipates commencing copper production during fiscal Q3 2012. Geological mapping and sampling of the 1807 zone development has given the Company an opportunity to better understand the geometry and structural controls which define the shape of the ore zones. To date, the results are encouraging in that they are consistent with previous interpretation and grades.
The intersection of high grade massive sulphides while developing the 1600 level by-pass ramp, is an additional encouragement to the Company. Development chip samples from this zone returned 3.73% Cu, 2.11 g/t Au, 30.78 g/t Ag and 0.78% Zn over a thickness of 1.60 meters. This new zone will be drill tested both up plunge and down plunge to determine the extent of the mineralization. The table below summarizes a few of the composited development samples collected to date. This is a continuing program for which the Company will provide further updates over the course of the year.
Table 3: Development Sampling.
Heading Length(m) Cu(%) Au(g/t) Ag(g/t) Zn(%)
1600 - bypass 2.60 1.86 1.86 20.67 0.60
Including 1.60 3.73 2.11 30.78 0.78
1807 - 346 lv 3.40 4.48 0.83 8.88 0.07
Including 1.00 8.55 1.57 14.70 0.17
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 unless otherwise indicated.
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.
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 and Mining plc
George Ogilvie, P.Eng.
President and CEO
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