Rambler Metals & Min (RMM.L) Rambler Intersects Multiple Drill Holes In Excess of 20 m of +2% Copper

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 provides an update to its on-going 2021 underground diamond drill program at the Ming Copper-Gold Mine, Baie Verte, Newfoundland and Labrador, Canada. This is the first release of all data presented in this announcement.

DRILL HIGHLIGHTS

Target 2: Lower Footwall Zone Drilling Program Targeting 735-760L

  • R21-620-10

· 1.71 metres at 5.32% copper (MNZ)

· 20.60 metres at 1.80% copper, including 5.30 metres at 2.98% copper and 6.30 metres at 2.13% copper

· 16.00 metres at 2.15% copper

· 4.00 metres at 3.85% copper

  • R21-620-11

· 8.50 metres at 1.08% copper

· 9.74 metres at 2.87% copper, including 6.24 metres at 3.32% copper

· 27.50 metres at 3.30% copper, including 8.00 metres at 3.71% copper and 17.50 metres at 3.43% copper

  • R21-620-12

· 23.00 metres at 2.13% copper including 7.00 metres at 3.75% copper, and 5.00 metres at 2.11% copper

· 10.00 metres at 1.78% copper

· 3.00 metres at 1.96% copper

· 4.00 metres at 1.59% copper

  • R21-620-13

· 14.48 metres at 1.42% copper

· 28.70 metres at 2.42% copper

· 7.00 metres at 1.60% copper

· 5.95 metres at 2.47% copper

  • R21-620-14

· 1.37 metres at 3.38% copper (MNZ)

· 18.79 metres at 1.69% copper

· 9.50 metres at 2.07% copper

· 11.67 metres at 1.47% copper, including 2.67 metres at 3.78% copper

  • R21-620-17

· 67.87 metres at 1.94% copper, including 7.00 metres at 2.82% copper, 9.00 metres at 2.76% copper, and 15.00 metres at 2.16% copper

· 3.00 metres at 2.52% copper

Target 3: Ming North Zone Drilling Program Targeting 785 Level and Below. Previously modeled mineralization confirmed by new intercepts of multi-percent copper over downhole widths up to 48.59 metres, including:

  • R21-785-12

· 1.03 metres at 2.37% copper

· 9.19 metres at 3.57% copper

· 3.00 metres at 1.28% copper

  • R21-785-17

· 5.00 metres at 1.93% copper

· 11.00 metres at 4.32% copper, including 5.00 metres at 8.45% copper

· 48.59 metres at 6.30% copper

PROGRAM PROGRESS

To date the team has completed 14,258 meters (94%) of the planned 15,200 meters. The program is aimed at four key target areas to further support near-term production planning (see Figure 1 below):

Target 1. Lower Footwall Zone (“LFZ”) 510-535 level: drilled from the 411 level.

Status: Drilling complete; assays complete and fully reported on 7 May 2021.

Target 2. LFZ 735-760 level: drilled from the 620 level.

Status: Drilling complete; assays in progress; partial results reported on 2 August 2021, on 25 August 2021 and in this press release. 12 holes assayed of 18 holes drilled (67%)

Target 3. Ming North Zone (“MNZ”) 785 level.

Status: Drilled from the 785 level; drilling complete; assays in progress; partial results reported on 25 August 2021 and in this press release. 5 holes assayed of 21 holes drilled (24%)

Target 4. Upper Footwall Zone (“UFZ”) below 790 level:

Status: Planned to drill from the 620 level; scheduled in Q4 2021.

In addition to the infill drill program, as previously reported on 8 October 2021, the team has also initiated its exploration program to further grow the LFZ and Ming Massive Sulfide (“MMS”) zones. To date 1,300 metres has been completed in 5 holes. An additional 6,000 metres of drilling in 15 holes is planned for Q4. This drilling is aimed to expand the known mineralisation and build upon the encouraging high-grade intersections listed in this press release.

To view Figure 1: 2021 Ming Mine Drilling Program Target Areas, please click here
http://www.rns-pdf.londonstockexchange.com/rns/4520P_1-2021-10-18.pdf

Toby Bradbury, President and CEO, commented:

“With drilling on three of the four infill targets completed, the Company has improved its confidence in near-term production plans. While we are still awaiting assays on some holes, our confidence has been bolstered by the assay results we have seen to date and by the recent development results obtained on 790L of the Upper Footwall Zone (“UFZ”).

We have stated before that Ming Mine improves in scale and grade with depth and the drilling we are doing is confirming that. In addition, our infill program is converting hitherto Inferred Resources into Indicated status which can be confidently incorporated into future mine plans.

We have also begun expanding the resource base further with 1,300 metres of step-out exploration drilling completed in 5 holes to date. Another 6,000 metres is planned in 15 holes to be completed in Q4. Associated geotechnical data being obtained by our oriented core drilling will help us optimise our mining methods while reducing operational risks.

As we proceed with the program and receive significant new copper and precious metal assays, we will continue to update the market.”

Target 2: Lower Footwall Zone Drilling Program Targeting 735-760L

This portion of the drill program, drilled from the 620 level of the mine, has now confirmed and further supports the higher-grade production blocks planned on the 735 and 760 levels of the LFZ. As part of the program, some inferred mineralization, along the edge of the known deposit, was targeted and converted to an indicated confidence level. Drill intersections listed in this update are consistent with previous drill programs and support a mine plan with a feed of ~2.0% copper to the mill.

In addition, drilling has intersected narrow (2-3m wide) high-grade mineralization in an area with no previously modelled mineral resource. This new discovery will be analyzed and modeled as further assay results are returned. We are excited by the early results and will look to build upon these high-grade intersections with future drill programs.

The status of the 760 Level drilling program is as follows:

  • Drilling is now complete (5,518m completed out of a planned 4,800m as two additional holes were drilled);
  • Core logging and sampling is complete;
  • Including the previously released results on 2 August 2021 and 25 August 2021, copper results have been received for 12 of the 18 holes drilled and logged;
  • Further assays are expected in due course.

Table 1: Previously unreported composited assay intervals from the 735-760 level Lower Footwall Zone diamond drilling program.

Read More

The drilling program for the Ming Mine is being run under the supervision of Mark Ross, P. Geo., who is a qualified person as defined by NI43-101.

All drilling reported in this release was completed by an independent contractor with NQ-sized diamond core (76 mm diameter). Rambler employs an Oriented Core tool which provides valuable information in terms of the orientation of mineralized stringers, dip and dip direction of structure, lithology and foliation for future modelling and geotechnical interpretation. Logging and sampling of diamond drill core is completed on site by Rambler geologists who ship samples daily, using Rambler vehicles and drivers, to the Company’s own laboratory for copper assay by standard x-ray fluorescence (“XRF”) methodology. As part of its QA/QC program 10% of all samples processed are sent for duplicate analysis at an accredited external lab using standard XRF methodologies. Sample pulps are later shipped, using commercial freight services, to independent laboratories for gold assaying.

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. Tim Sanford consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears. Tim Sanford has sufficient experience, relevant to the style of mineralization and type of deposit under consideration and to the activity that he is undertaking, to qualify as a “competent person” as defined by the AIM rules.

Tonnes referenced are dry metric tonnes unless otherwise indicated; unless otherwise noted all figures are quoted in $USD.

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’), incorporated into UK law by the European Union (Withdrawal) Act 2018.  Upon the publication of this announcement via Regulatory Information Service (‘RIS’), this inside 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.  The group has a 100% 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 1,350 metric tonnes per day at 2% copper in the course of 2021 and evaluate expansion opportunities from that base.

Along with the Ming Mine, Rambler also owns 100% of the former producing Little Deer and Whales Back copper mines.

Rambler is listed in London under AIM:RMM.


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