Rambler completes scoping study and moves ahead to pre-feasibility

Rambler Metals and Mining plc announces that the Board has resolved to progress its Ming copper-gold project located on the Baie Verte Peninsula of Newfoundland, Canada to the pre-feasibility stage following the receipt of a high level scoping study from SRK Consulting (SRK) in conjunction with SNC Lavalin (SNC) and Thibault Associates.

The study considered a 4,000 tonnes per day underground mine producing a copper concentrate with gold and silver credits, with a mine life of 12 years.

Recoveries used in the study were based on metallurgical test work undertaken by SGS Lakefield under the supervision of Thibault Associates. Ore processing for the Footwall Zones using standard grinding and floatation techniques is estimated to achieve a 98.6% copper recovery with a concentrate grade of 28.2%.

The test work on the massive sulphides produced lower recoveries, and a number of recommendations have been made to optimise the processing circuit, as well as incorporating a gold recovery circuit.

The scoping study was based on a resource that is not compliant with National Instrument 43-101 (“NI-43-101″).

George Ogilvie, P.Eng, President and CEO, said, we are delighted to be moving the project to the pre-feasibility stage.

The scoping study has confirmed our belief that the resource we have delineated at the Ming project over the last three years is of sufficient size and grade to move ahead, he added.

We instructed SRK to examine the feasibility of a 4,000 tonnes per day operation as it was important for us to know that the bulk tonnage, low grade Footwall Zones at the Ming Mine are capable of sustaining a profitable long-life mining operation, said Mr. Ogilvie.

We will now commence a pre-feasibility study to determine the optimal mine-plan.

This is most likely to be a two-phase operation; beginning with a lower rate of production from the massive sulphides and then moving on to the higher tonnage, lower grade Footwall Zones, concluded Mr. Ogilvie.