Rambler Metals & Mining PLC: Update of Reserve and Resource Estimate
27.01.2014 | Marketwired
SAINT JOHNS, NL -- (Marketwired - Jan 27, 2014) - London, England & Baie Verte, Newfoundland and Labrador - Rambler Metals and Mining plc, a Newfoundland copper and gold producer, explorer and developer (TSX-V: RAB; LSE: RMM) ("Rambler" or "the Company") today provides an update on its NI43-101 Reserve and Resource estimates at the Ming Copper-Gold Mine, located in Newfoundland, Canada.The reserve itself shows the replacement of all tonnes mined from the 1807 Zone to date, extending the mine life by one year. All zones remain open to further exploration.
A summary of the Ming mine's reserve and resource estimates can be found in Table 1 and 2 below, with additional details found under Appendix 1.
HIGHLIGHTS on the Mineral Reserve and Resource Statement:
- The updated Mineral Reserve (contained metal) is estimated to contain 56,719,272 pounds of copper, 101,404 ounces of gold and 459,788 ounces of silver in the Proven and Probable categories.
- The updated Mineral Resource (contained metal) is estimated to contain 697,656,693 pounds of copper, 221,873 ounces of gold and 1,511,643 ounces of silver in the Measured and Indicated categories.
RESERVE
- Mining of the 1807 zone has seen an average of a 39 per cent increase in total tonnes mined from stope ore blocks, when compared to the planned reserve published on August 26, 2010.
- The mining of comparable stopes and drifts, when compared to the August 26, 2010 reserve statement, shows an average of a 58 per cent increase in copper grade(3.11 per cent copper planned to 4.91 per cent copper actual), a 32 per cent increase in gold grade (1.10 grams per tonne gold planned to 1.45 grams per tonne gold actual) and a 118 per cent increase in silver grade (5.19 grams per tonne silver planned to 11.30 grams per tonne silver actual).
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the associated PDF document:
http://www.rns-pdf.londonstockexchange.com/rns/5466Y_2-2014-1-27.pdf
This information is provided by RNS The company news service from the London Stock Exchange
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