LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND AND LABRADOR -- (Marketwired) -- 06/24/13 -- Rambler Metals and Mining plc, the Newfoundland copper and gold producer, explorer and developer (AIM: RMM)(TSX VENTURE: RAB) ("Rambler" or "the Company") is pleased to provide an update on its diamond drilling activities over the past three months at the Ming Copper-Gold Mine. Following the breakthrough of the main 1807 ramp system, at the end of February 2013, there has been a new focus on expanding the known resources/reserves through definition and exploration diamond drilling.
-- Diamond drill hole UG13-98, delineation drilling into the 1807 zone down-dip, returned 5.80 metres (core length) of 13.18% copper, 4.58 g/t gold and 31.73 g/t silver-- Definition diamond drilling testing the up-dip extension of the 1807 zone, UG13-195, returned 8.4 metres (core length) of 5.28 % copper, 1.59 g/t gold and 11.77 g/t silver
-- Recent exploration diamond drilling of the 1806 zone returned 6.63 g/t Au, 1.42% Cu and 19.17 g/t Ag over 2.54 meters (core length)-- Selective mining of the 1806 zone has been ongoing with approximately 11,135 tonnes of material drilled, blasted or stockpiled with an average grade of 7.83 g/t gold, 96.09 g/t silver and 0.76% copper. The Company plans to process this material through the gold hydrometallurgical facility towards the end of June 2013 while the copper concentrator is offline for planned maintenance
George Ogilvie, P. Eng., President and CEO, comment,
"I am pleased to see that the early diamond drilling results are positive and confirming that the 1807 zone extends beyond the known reserve block. The second half of 2013 will see an exciting period in our diamond drilling campaign as we further test the down-plunge extension of the 1807 zone.
Towards the end of June the Company will have sufficient 1806 zone material stockpiled at the mill to batch this ore through the gold hydromet plant. Having the flexibility to seamlessly switch between copper concentrate and gold dore production based on business environment factors is an option that differentiates Rambler from many other junior producers.
Production at the mill is at an all time high with copper recoveries continually reporting at 95% or better, a measurable increase over the 92.4% budgeted for the fiscal year. Backed by this momentum we hope that the rejuvenated exploration campaign will add to the successes seen to date."
A REVIVED EXPLORATION PROGRAM
Sufficient capital infrastructure in the 1807 zone has now been developed providing access to six months of stope production. The capital development is now allowing diamond drill bays to be developed with the goal of undertaking an in-fill and exploration drilling campaign.
Diamond drilling from the 329 level drill bay has demonstrated that the 1807 zone continues up-dip, potentially beyond the known ore reserve model. The drilling has intersected significant copper and gold mineralization with development chip sampling confirming the high-grade nature and continuity of the zone. The 329 level drill bay is now being extended so that further exploration can be completed to test the horizon closer to surface.