🕐12.01.11 - 09:54 Uhr
Rambler Metals and Mining - Environmental Permitting
See below this mornings press release for Rambler Metals and Mining plc
(TSXV: TAB, AIM: RMM).
Best,
Philippe
12 January, 2011
Environmental Registration Filed for
Mining of Nugget Ponds Crown Pillar
London, England & Baie Verte, Newfoundland and Labrador - Rambler Metals
and Mining plc (TSXV: RAB, AIM: RMM) (Rambler or the Company) is
pleased to announce that on December 20, 2010 the Company officially
submitted the environmental registration for the mining of the Nugget
Pond Crown Pillar, located less than 150 metres away from its gold
hydromet processing facility.
The Company is also pleased to announce that it recently completed
processing a bulk sample for Crosshair Exploration and Mining Corp.
(TSX: CXX, NYSE Amex: CXZ) (Crosshair) with ore from its Golden
Promise Project.
HIGHLIGHTS
* The crown pillar contains an historical resource of
approximately 8,100 tonnes of ore grading 7.7 g/t of gold equating to
2005 troy ounces in-situ.
An open pit mining method is planned.
* All ore processing will be completed at the Companys own Nugget
Pond Hydromet Facility.
Historical recovery averaged 95%.
* The undertaking was registered on December 20, 2010; the
deadline for public comments is January 26, 2011; and the ministers
decision is due by February 3, 2011.
* The Company plans on mining this crown pillar in calendar Q2,
2011.
* Completed toll milling contract for Crosshair Exploration and
Mining Corp.
in November 2010.
Peter Mercer, VP Corporate Development commented;
"We are pleased to have some additional mining at the Crown Pillar while
construction is taking place at the Ming Mine.
While the mining of Crown
Pillar itself will be of short duration there remains much exploration
potential both within our own mining lease and over the entire
mineralized trend.
In addition the successful toll milling of Crosshairs bulk sample
confirms our belief that the Nugget Pond facility is amenable to a wide
range of ore types and will allow Rambler access to further business
opportunities on the Baie Verte peninsula with a view to becoming the
premier gold and base metal hydrometallurgical facility in the region."
Nugget Pond Crown Pillar
Rambler acquired the rights to the 140L mining lease, which encompasses
the Crown Pillar, through its purchase of the Nugget Pond processing
facility in 2009 for C$3.5 million.
(See RMM press release dated 27
October 2009) While the original intent of the purchase was solely for
the facility itself, the added bonus of acquiring the mineral rights to
the surrounding area has allowed Ramblers geologic team to evaluate the
historical resource potential within the past producing property.
(See
RMM press release dated 26 January, 2010).
This historical resource
estimate is non NI43-101 compliant and cannot be relied upon in any way.
The historical resources remaining at Nugget Pond are considered by
Rambler to be highly prospective and hold significant value.
With the
crown pillar accessible from surface and sitting less than 150m from the
primary crusher the project will require a low capital cost investment
with quick start up and minimal operating costs.
Toll Milling
In November 2010 a total of 2,241 tonnes were received from Crosshairs
Golden Promise deposit located less than 250 kilometres from the Nugget
Pond facility.
The material was successfully processed over a 9 day
period resulting in a small gold dore poured at the end of the program.
Rambler would like to thank Crosshair for the opportunity to process its
material and wishes the company success in bringing the property closer
to production.
For further information, please contact:
George Ogilvie, P.Eng.
President and CEO
Rambler Metals and Mining
Tel No: 709-532-4990
Rambler Metals & Mining Plc.
Corporate Office
Tel No: +44 (0) 20 8652-2700
Fax No: +44 (0) 20 8652-2719
Nandita Sahgal / Jeremy Stephenson
Seymour Pierce Limited
Tel No: +44 (0) 20-7107-8000
Klara Kaczmarek / Philippe Polman
Pelham Bell Pottinger
Tel No: +44 (0) 20-7861-3232
Guy Wilkes
Ocean Equities Limited
Tel No: +44 (0) 20-7786-4370
Philippe Polman
Account Manager
Direct line: +44 (0)20 7861 3921
Mobile: +44 (0)7841 672 830
Pelham Bell Pottinger
5th Floor, Holborn Gate, 330 High Holborn, London, WC1V 7QD
Tel: +44 (0)20 7861 3232 Fax: +44 (0)20 7861 3233
www.pelhambellpottinger.co.uk
.......................................
A CarbonNeutral(r) company
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