BAIE VERTE, NL--(Marketwired - May 5, 2015) - Rambler Metals & Mining PLC (TSX VENTURE: RAB) (LSE: RMM)
5 May 2015
TSX-V: RAB
Rambler Ships More High Grade Copper Concentrate
London, England & Baie Verte, Newfoundland and Labrador, Canada - Rambler Metals and Mining plc (TSXV: RAB, AIM: RMM) ('Rambler' or the 'Company') today announces that it has delivered approximately 6,300 wet metric tonnes ('wmt') of copper and gold concentrate from its facility in Goodyear's Cove, NL, Canada.
The Company's internal sampling estimates an average grade for the shipment of 27 per cent copper, 9 grammes per tonne gold and 68 grammes per tonne silver. By concentrate standards this is a high quality product with little in the way of deleterious materials. This is the tenth shipment completed to date since declaring commercial production, bringing the total concentrate delivered to approximately 64,000 wmt.
Following the shipment, the Company still has over 1,050 wmt of concentrate in storage at its Goodyear's Cove Facility.
Norman Williams, President and CEO, commented:
"It was a difficult winter for the Company; however, we continued to produce high grade copper concentrate that we have now delivered. We are pleased to report that the operation has stabilized under the revised mine plan. The cost reduction strategies we implemented earlier in the year have been successful in reducing overall capital and operating costs as well.
"We continue to make good progress with the pre-feasibility study designed to integrate the large Lower Footwall Zone mineral resource into the life of mine plan. With a target release date of mid-calendar year this study will demonstrate the potential of the project through optimization of existing infrastructure at the mine and mill sites with a staged, low capital, expansion programme."
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