Rambler Reports Fiscal 2016 Q4 and Yearend Production Results
BAIE VERTE, NL--(Marketwired - Sep 21, 2016) - Rambler Metals & Mining PLC (TSX VENTURE: RAB) (LSE: RMM)
TSXV: RAB, AIM: RMM
21 September 2016
Rambler Reports Fiscal 2016 Q4 and Yearend Production Results
12% Increase in Production over Fiscal 2015
London, England & Baie Verte, Newfoundland and Labrador, Canada - Rambler Metals and Mining plc (TSXV: RAB, AIM: RMM) ('Rambler' or the 'Company'), a copper and gold producer operating in Newfoundland and Labrador, Canada, today provides an operational update for its Fiscal 2016 Yearend and fourth quarter ending 31 July 2016 ('F2016' and 'Q4/16').
| PRODUCTION | Yearend F2016 | F2016 Guidance | ||
| Dry Tonnes Milled | 241,080 | 235,000 - 250,000 | ||
| Copper Recovery (%) | 95.6 | 94 - 96 | ||
| Gold Recovery (%) | 68.7 | 65 - 70 | ||
| Silver Recovery (%) | 71.8 | 65 - 75 | ||
| Copper Head Grade (%) | 2.12 | 2.0 - 2.5 | ||
| Gold Head Grade (g/t) | 1.40 | 1.0 - 2.0 | ||
| Silver Head Grade (g/t) | 9.97 | 6.0 - 10.0 | ||
CONCENTRATE (Delivered to Warehouse) | ||||
| Copper (%) | 26.9 | 27 - 29 | ||
| Gold (g/t) | 13.8 | 6 - 8 | ||
| Silver (g/t) | 98.1 | 55 - 75 | ||
| Dry Tonnes Produced | 17,048 | 17,000 - 21,000 | ||
| Copper Metal (tonnes) | 4,580 | 4,500 - 6,000 | ||
| Gold (ounces) | 7,549 | 5,500 - 6,500 | ||
| Silver (ounces) | 53,830 | 42,000 - 57,000 | ||
HIGHLIGHTS OF YEAREND
- Rambler met or exceeded its 2016 fiscal year production guidance. Targets were achieved for tonnes milled, metal recovery and grades. Gold ounces exceeded guidance by 16 per cent, a record for gold in concentrate production, resulting from adjustments made to the flotation circuit in the first half of the year. During the second half of the year more focus was placed on increasing mill throughput. Once throughput is fully optimized the team will work towards re-establishing the higher gold recoveries.
- Copper grades of 2.12 per cent and gold grades of 1.40 grammes per tonne were in line with guidance. Total mill throughput for the year was 241,080 dry metric tonnes, a 12% increase over the 216,000 tonnes milled in fiscal 2015.
- Average recoveries to concentrate for the year were: copper 95.6 per cent, gold 68.7 per cent and silver 71.8 per cent with a concentrate grade of 26.9 per cent, 13.8 grammes per tonne and 98.1 grammes per tonne for copper, gold and silver respectively.
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