Rambler Metals and Mining plc: Three Month Ending October 31, 2016 - Production Results
01.12.2016 | Marketwired
BAIE VERTE, NL--(Marketwired - Dec 1, 2016) - Rambler Metals & Mining PLC (TSX VENTURE: RAB) (LSE: RMM)
TSXV: RAB, AIM: RMM
1 December 2016
Three Month Ending October 31, 2016 - Production Results
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 the first quarter ended 31 October 2016 ('Q1/17 Stub').
| Summary for Q1/17 Stub: Ore, Concentrate and Saleable Metal Production | ||||
| PRODUCTION | Q1 Stub/17 | CONCENTRATE (Delivered to Warehouse) | Q1 Stub/17 | |
| Dry Tonnes Milled | 69,609 | Copper (%) | 26.4 | |
| Gold (g/t) | 13.6 | |||
| Copper Recovery (%) | 96.5 | |||
| Gold Recovery (%) | 65.9 | Dry Tonnes Produced | 4,006 | |
| Copper Grade (%) | 1.7 | Saleable Copper Metal (t) | 1,057 | |
| Gold Grade (g/t) | 1.1 | Saleable Gold (oz) | 1,619 | |
| (see Note 1 below) | ||||
HIGHLIGHTS OF THE QUARTER:
- Production of 4,006 tonnes of copper concentrate, representing a 2% decrease over Q4/16 resulting from a slightly lower copper head grade during the quarter.
- Dry tonnes milled of 69,609 tonnes, equal to Q4/16 and a 20% increase over Q1/16, driven by an increase in production from the Lower Footwall Zone ('LFZ');
- 1,057 tonnes of saleable copper
(a 1% increase over Q4/16 and a 15% decrease over Q1/16)
- 1,619 ounces of saleable gold
(a 12% increase over Q4/16 and a 12% decrease over Q1/16)
- 1,057 tonnes of saleable copper
- Head grades of copper averaged 1.7% for the quarter (a 6% decrease over Q4/16); gold averaged 1.1 g/t (6% decrease over Q4/16). Grades for the 3 month period were in line with plan with the majority of LFZ ore now being sourced from either capital development or from the first post-pillar cut and fill ('PPCF') test stope outside of the known reserve. Once the LFZ is fully developed, ore will be primarily sourced from larger stopes.
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