SOURCE: Rambler Metals & Mining Plc

July 27, 2017 04:15 ET

Rambler Metals & Mining PLC: 2nd Quarter Production Results & Updated Guidance

BAIE VERTE, NL--(Marketwired - Jul 27, 2017) - Rambler Metals & Mining PLC (TSX VENTURE: RAB) (LSE: RMM)

TSXV: RAB, AIM: RMM
27 July 2017

Rambler Releases Second Quarter Production Results &
Provides Updated Guidance

London, England - Newfoundland and Labrador, Canada - Rambler Metals and Mining plc (TSXV: RAB, AIM: RMM) ("Rambler" or "the Company"), a copper and gold producer, explorer, and developer today provides production results for the second quarter ended 30 June 2017 ('Q2/17').

Q2/17 PRODUCTION SUMMARY

  • Copper feed grade for the quarter was 1.41% with a gold grade of 0.67 g/t, both in line with guidance. Total mill throughput for the period ending 30 June 2017 was 86,895 dry metric tonnes ('dmt'), a new quarter record and a 15% increase over the previous quarter; 29% increase over the same quarter F2016.

  • During the period the copper milling facility averaged 1,077 metric tonnes per day ('mtpd') during operational hours. This is a significant increase over the previous quarter and with the final modifications to the mill's grinding circuit now complete, this facility is ready to test a sustained 1,250 mtpd mill feed.

  • Underground development into the Lower Footwall Zone continued at the mine during the quarter. Overall development is approximately 2 months behind schedule, however, monthly average development meters have increased significantly quarter over quarter with the operation hitting forecasted development meters during the quarter. It is anticipated that the 1,250 mtpd target will incur a slight delay but will be achieved during the fall of 2017.

  • Average recoveries to concentrate for the quarter were: copper 94.2% and gold 56.5% with a concentrate grade of 26.6% and 7.7 g/t for copper and gold respectively.
    • The mill produced 4,359 dmt of concentrate, a 49% increase over Q1/17, containing saleable metal of 1,112 tonnes of copper and 939 ounces of gold. This represents a 40% and 140% increase respectively over the previous quarter, Q1/17.

Please see the associated PDF to view the announcement in full
http://www.rns-pdf.londonstockexchange.com/rns/2697M_1-2017-7-27.pdf

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