London, England – Newfoundland and Labrador, Canada – Rambler Metals and Mining plc (AIM: RMM) (“Rambler” or the “Company”), a copper and gold producer, explorer, and developer, is pleased to announce its reconciled operational results for the month of April 2022.
Company Management will be attending and presenting at Mining Indaba in Cape Town, South Africa from 9 to 12 May 2022 and also at the PDAC in Toronto, Canada from 13 to 15 June 2022.
The presentation can be viewed online and is also available for download on the Company’s website at:Â Â www.ramblermines.com
APRIL 2022 HIGHLIGHTS
- PRODUCTION
· For the month ended 30 April 2022, the Ming Mine averaged throughput of 1,185 dry metric tonnes (“dmt”) per day (March 2022: 1,074 dmt per day), representing a 10% increase in daily throughput compared to March 2022.
· For the month ended 30 April 2022, the Nugget Pond copper and gold milling facility achieved throughput of 30,195 dmt at a feed grade of 1.46% copper (March 2022: 26,172 dmt at a feed grade of 1.60% copper).
· Recovery of copper metal to concentrate was 97.0% for April 2022 (March 2022: 95.7%).
· During the month, the operation produced 1,599 dmt of concentrate containing 413 tonnes of saleable copper and 160 ounces of saleable gold (March 2022: 1,494 dmt containing 386 tonnes and 207 ounces of saleable copper and gold respectively).
· Development during the month totalled 366 meters (March 2022: 413 meters).
- DRILLING
· Delineation diamond drilling in the month totalled 948 meters (March 2022: 1,048 meters).
· Exploration diamond drilling in the month totalled 941 meters (March 2022: 593 meters).
For the full PDF version of the announcement with graphs in Table 1 included, please refer to:
http://www.rns-pdf.londonstockexchange.com/rns/7050K_1-2022-5-8.pdf
April 2022 Production Results
Reconciled results for January to April of 2022 are shown below in Table 1 and in the subsequent graphs.
Table 1: January to April 2022 reconciled operational results
Operational Update
Production and Developed State
· The developed state of the underground mine has now been brought to a position where full production of 1,350 tonnes per day (“tpd”) through the processing plant is imminent. The status of the four main production areas in the mine are as follows:
o 510L LFZ: Production activities and diamond drilling continue in this area.
o 770L and 790L UFZ: Production activities continue in this area.
o 785 Ming North Zone: Development as a cut and fill operation continues through the zone at scheduled rates. Diamond drilling to infill the zone down plunge was completed and reported on 28 April 2022.
o 735L and 760L LFZ: Production activities continue in this area.
The grade was lower than initially planned in April due to mining out of planned sequence to install additional ground support in the Upper Footwall Zone. Grade is expected to pick up in May.
Nugget Pond
The Nugget Pond processing plant achieved throughput averaging over 1,000 dmt per day despite a maintenance issue with the secondary crusher which caused the mill to operate at or below 800 dmt for 9 days of the month. The Company rented a crushing plant from a local supplier and was able to achieve these rates of throughput, all the while building a 22,500 dmt stockpile of ore in front of the plant. The arrangement with the rented crusher has continued into May and is expected to do so until mid-month.
Covid-19 Update:
All provincial restrictions have been lifted as of March 14, 2022. Rambler will continue to abide by all Public Health guidelines for the long-term management of Covid-19 and protection of the entire workforce.
Toby Bradbury, President and CEO, commented:
“Focus for us has been to fully utilise the capacity of the mill at Nugget Pond and our peak daily plant throughput during April was 1,408 dry metric tonnes. Our mining is now at a rate that can support the designed plant throughput, and we will now optimise the feed grade to the mill. We have built a valuable stockpile ahead of the mill which mitigates some of the mining risk that the operation has been exposed to over recent years and we continue to progressively build resilience into all aspects of the operation.”
Tim Sanford, P.Eng., is the Qualified Person responsible for the technical content of this release and has reviewed and approved it accordingly. Mr. Sanford is an employee of Rambler Metals and Mining Canada Limited. Tonnes referenced are dry metric tonnes unless otherwise indicated.
Note 1: Results reported are accurate and reflective as of the date of release. The Company performs regular auditing and reconciliation reviews on its mining and milling processes as well as stockpile inventories, following which past results may be adjusted to reflect any changes.
Abbreviations:
g/t = grammes per tonne
dmt = dry metric tonnes
tpd = tonnes per day
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (‘MAR’) which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service (‘RIS’), this inside information is now considered to be in the public domain.
ABOUT RAMBLER METALS AND MINING
Rambler is a mining and development company that in November 2012 brought its first mine into commercial production. Rambler has a 100 per cent ownership in the Ming Copper-Gold Mine, a fully operational base and precious metals processing facility and year-round bulk storage and shipping facility; all located on the Baie Verte peninsula, Newfoundland and Labrador, Canada.
Rambler’s focus is to regain its production profile at 1350 metric tonnes per day at a target grade of 2% Cu by the end of 2022 and evaluate expansion opportunities from that base.
Along with the Ming Mine, Rambler also owns 100 per cent of the former producing Little Deer Complex.
Rambler is listed in London under AIM:RMM.
For further information, please contact:
Toby Bradbury
President and CEO
Tel No: +1 (709) 800 1929
Fax No: +1 (709) 800 1921
Celeste Van Tonder
CFO
Tel No: +1 (709) 800 1929
Fax No: +1 (709) 800 1921
