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 AIM; RMM
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Company Statement
Rambler Metals and Mining plc ("Rambler") was established to invest in the base metal sector in politically stable jurisdictions. Its principal project is the Rambler copper-gold property, located on the Baie Verte Peninsula of Newfoundland and Labrador, Canada. Rambler acquired the property from Altius Minerals Corporation in exchange for ordinary shares during 2005.
The Rambler property contains the former producing Ming and Ming West copper-gold mines. The Ming Mine last operated in 1982 and the Ming West Mine in 1996. Mining of the Ming Mine ceased when workings reached a neighbouring property boundary. Rambler Metals and Mines acquired the property after it had been successfully consolidated.
The Ming and Ming West Mines exploited relatively narrow zones of high-grade copper and gold mineralization. Sections of this mineralization remain in the lower part of the Ming Mine and it is open to depth.
In 2004, two holes were drilled to test the depth potential of the underlying Lower Footwall Zone (LFZ), which was partially outlined nearer to surface by the previous mining operator. These drill holes both returned wide zones of copper mineralization with substantially better indicated grades than encountered in the nearer to surface historic holes and the LFZ became a priority for delineation drilling.
The first phase of drilling was carried out from April through December 2005 and involved the completion of widely spaced holes from which offset holes could be completed using directional drilling technology. The directional drilling program began in January of 2006 and finished in April of 2008. Drill holes for the program were spaced at approximately 50 metre centres in order to delineate the mineralized areas with an indicated resource or better.
Rambler has also recently finished dewatering the old mine where ground conditions remained excellent, with minimal rehabilitation, throughout the entire dewatering program. Pre-production development is currently ongoing while work continues on the detailed engineering and business plan with an expected completion date of 1Q 2009.
Rambler Metals and Mining plc currently trades on London's AIM market under symbol RMM and on the TSX:V under symbol RAB.
Current Operations
Rambler Metals and Mining was established to invest in the base metal sector in politically stable jurisdictions. Its principal project is the Rambler Cu-Au property, located on the Baie Verte Peninsula of Newfoundland and Labrador, Canada.
Rambler has recently finished dewatering the old mine where ground conditions remained excellent, with minimal rehabilitation, throughout the entire dewatering program. Pre-production development is currently ongoing while work continues on the detailed engineering and business plan with an expected completion date of 1Q 2009. In conjunction an updated resource estimate is also expected to be released in 1Q 2009.
Location
The Rambler Property is located in Canada, on Newfoundland and Labrador's Baie Verte Peninsula. The area has a history and culture of gold, base metals and industrial minerals mining. The major centre for the region is the town of Baie Verte, which offers several mining and exploration service providers, deep water loading, hotels, schools, shopping, medical facilities and recreational facilities.
History
- The Rambler property contains the former producing Ming and Ming West Cu-Au mines.
- The Ming Mine last operated in 1982 and produced some 2.1 million tons of ore grading 3.5% Cu and 2.5 g/t Au over 10 years in operations.
- The Ming West Mine operated between 1995 and 1996 producing 271,000 tons grading 4.0% Cu and 5.8 g/t Au.
- Mining ceased when workings reached a neighboring property boundary.
Recent Events
- Rambler Metals and Mining acquired the property after it had been successfully consolidated in 2001.
- Surface drilling focused on extending the historically mined areas beyond the old property boundary.
- Underground diamond drill rigs arrived on site in November 2007 to further delineate areas that could not be accessed from surface.
In June 2008 the company completed a scoping study conducted by SRK Consulting and published its first NI43-101 resource for the property. It confirmed the Ming Mine can sustain a 4,000 mtpd production rate with a life of mine in excess of 10 years. - In July 2008 the Ming Mine was fully dewatered while pre-production development to the 1807 Zone was started.
- In August 2008 the company hired a General Manager for the site which completes the operations management team necessary to bring the Mine into production.
- Exploration on the property is ongoing through delineation diamond drilling and geophysical surveys with continued excellent results being produced.
Geographical Spread
Newfoundland and Labrador, Canada
Board of Directors and Key Management
| D.H.W. Dobson | (Chairman) |
| George Ogilvie | (President & CEO) |
| John S. Thomson | (CFO) |
| Leslie Little | (Corporate Secretary) |
| John Baker | (Director) |
| Brian Hinchcliffe | (Non-Exec) |
| Brian Dalton | (Non-Exec) |
| Leslie Goodman | (Non-Exec) |
| Merfyn Roberts | (Non-Exec) |
| Stanley Neamonitis | (Director) |
Company AddressMuscott House
|
Additional Address/Key ContactRambler Metals & Mining Canada Ltd. |
Capital49,725,000 Ordinary Shares |
Annual General MeetingLondon | Year End31st July |
Nominated BrokersOcean Equities | Nominated AdvisorsSeymour Pierce Limited |
Major Shareholders
| Shareholder | % held |
| Altius Resources Inc. | 24.14 |
| Zila Corp. | 13.08 |
| Vidacos Nominees Limited | 3.94 |
| Cantor Fitzgerald Europe | 3.47 |
| Roy Nominees Limited | 3.45 |
Related News
16/03/10 - Rambler Is Now Just A Year Away From First Production At Its Ming Copper-Gold Project In Newfoundland And Labrador02/11/09 - Rambler Metals Puts The Penultimate Piece Of The Ming Mine Jigsaw Into Place
17/08/09 - Rambler Acquires Crew Gold’s Nugget Pond Processing Facility, Turning The Ming Copper Project Into A Very Bankable Proposition
18/05/09 - A Development Decision On Rambler’s Ming Copper Project In Canada Is Now Only Weeks Away
17/11/08 - Rambler Metals Intercepts More Mineralization On the Ming Mine And A Few Potential Partners In China
09/06/08 - Rambler Metals Presses On Towards Feasibility
Most Recent Statement
04/03/10 - US$20M Gold Sale Agreement with Sandstorm Resources15/02/10 - Rambler Metals and Mining Plc Appointment of Joint Broker
03/02/10 - RAMBLER HIRES KEY ENGINEERING STAFF
03/02/10 - RAMBLER HIRES KEY ENGINEERING STAFF
26/01/10 - RAMBLER METALS & MINING PLC INVESTIGATES THE RESOURCE POTENTIAL
08/12/09 - FIRST QUARTER RESULTS 2010 & OPERATIONAL HIGHLIGHTS