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Rambler Metals and Mining plc: Three Month Ending October 31, 2016 - Production Results

/EINPresswire.com/ -- 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)

  • 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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