Rambler Metals and Mining was established to invest in the base metal sector in politically stable jurisdictions. Its principal project is the Rambler Cu-Au property, located on the Baie Verte Peninsula of Newfoundland and Labrador, Canada.
Rambler has recently finished dewatering the old mine where ground conditions remained excellent, with minimal rehabilitation, throughout the entire dewatering program. Pre-production development is currently ongoing while work continues on the detailed engineering and business plan with an expected completion date of 1Q 2009. In conjunction an updated resource estimate is also expected to be released in 1Q 2009.
Location
The Rambler Property is located in Canada, on Newfoundland and Labrador's Baie Verte Peninsula. The area has a history and culture of gold, base metals and industrial minerals mining. The major centre for the region is the town of Baie Verte, which offers several mining and exploration service providers, deep water loading, hotels, schools, shopping, medical facilities and recreational facilities.
History
- The Rambler property contains the former producing Ming and Ming West Cu-Au mines.
- The Ming Mine last operated in 1982 and produced some 2.1 million tons of ore grading 3.5% Cu and 2.5 g/t Au over 10 years in operations.
- The Ming West Mine operated between 1995 and 1996 producing 271,000 tons grading 4.0% Cu and 5.8 g/t Au.
- Mining ceased when workings reached a neighboring property boundary.
Recent Events
- Rambler Metals and Mining acquired the property after it had been successfully consolidated in 2001.
- Surface drilling focused on extending the historically mined areas beyond the old property boundary.
- Underground diamond drill rigs arrived on site in November 2007 to further delineate areas that could not be accessed from surface.
- In June 2008 the company completed a scoping study conducted by SRK Consulting and published its first NI43-101 resource for the property. It confirmed the Ming Mine can sustain a 4,000 mtpd production rate with a life of mine in excess of 10 years.
- In July 2008 the Ming Mine was fully dewatered while pre-production development to the 1807 Zone was started.
- In August 2008 the company hired a General Manager for the site which completes the operations management team necessary to bring the Mine into production.
- Exploration on the property is ongoing through delineation diamond drilling and geophysical surveys with continued excellent results being produced.
