Rambler Metals & Mining Plc
TSX VENTURE : RAB
AIM : RMM

Rambler Metals & Mining Plc

May 14, 2008 07:00 ET

Rambler Reports Latest Drill Results at the Ming Mine Drills 5.10 Metres of 3.68 g/T Gold and 15.77% Copper

LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND AND LABRADOR--(Marketwire - May 14, 2008) - Rambler Metals and Mining plc (TSX VENTURE:RAB)(AIM:RMM) is pleased to announce further positive drill results from its underground diamond drilling exploration program at the Ming Mine.

Highlights include the following assay results:



----------------------------------------------
Sample
Drill Hole Length Au Cu
----------------------------------------------
RMUG08-46 2.20 m 0.41 g/t 2.75 %
----------------------------------------------
RMUG08-56 13.90 m 0.82 g/t 2.42 %
----------------------------------------------
including 1.70 m 6.53 g/t 18.35 %
----------------------------------------------
RMUG08-57 2.20 m 1.05 g/t 5.12 %
----------------------------------------------
RMUG08-60 17.20 m 1.20 g/t 5.70 %
----------------------------------------------
including 5.10 m 3.68 g/t 15.77 %
----------------------------------------------
RMUG08-61 3.95 m 1.47 g/t 5.25 %
----------------------------------------------
RMUG08-62 2.95 m 2.45 g/t 5.28 %
----------------------------------------------


Ming Massive Sulphide Horizon (South Zone)

During the historical production period of the Ming Mine, ore was extracted primarily from the Ming Massive Sulphide Horizon. Due to lower metal prices at the time, much of the ore on the periphery of the deposit was deemed uneconomical to extract. In view of the present favourable market prices for copper and gold, Rambler has designed part of its ongoing underground diamond drill program to define the extent of these unmined zones. These zones of high-grade mineralization, which are close to present development, could increase cash flows in the early years of production, reducing the initial capital investment required for start-up and improving the overall project economics.

The second underground drill rig is expected to arrive at the end of May and will focus on delineating the near development massive sulphide zones, as well as the potential high-grade gold mineralization associated with the massive zones.

Surface Program

After a number of years of continuous drilling the directional surface program officially ended April 2008 with the culmination of our first published NI43-101 resource estimate. The last holes from this program have returned encouraging results however Rambler believes that future exploration can be better achieved through underground drifting from existing levels. RM08-21 was designed to test the highly promising 1807 Massive Sulphide Zone 100m down plunge of any existing intersection to date.

In the next few months Rambler will be conducting a Titan 24 DCIP and MT ground geophysical survey over Rambler Property adjacent to the known deposits. This survey will aim to identify massive sulphide drill targets and will also be useful in helping the Rambler team unravel the structural history of the area by identifying more favourable horizons of mineralization. The Titan 24 system has the ability to effectively search for conductive bodies up to 1 km in depth, far beyond the capabilities of any previous geophysical surveys completed in the area.

George Ogilvie, P.Eng, President and CEO, Rambler commented;

"The underground diamond drilling is now beginning to discover high grade massive sulphides with associated gold that were not previously mined. We are confident that with the addition of a smaller second underground drill further success can be achieved in discovering new areas of mineralization. It's also important to bear in mind that these results were not considered in our recently published NI43-101 but will be included in the resource update that we expect to publish later in the year."

The table below summarizes the widths, grades and drill station of the recent holes. All underground drill holes targeted the up plunge extension of the Ming Massive Sulphide Horizon (South Zone).



-----------------------------------------------------------------------
Drill From To Length Length Au Cu
Target Level Hole (m) (m) (m) (feet) (g/t) (%)
-----------------------------------------------------------------------
South Zone 1500 RMUG08-45 67.00 69.00 2.00 6.56 1.08 1.99

South Zone 1500 RMUG08-46 22.50 24.70 2.20 7.22 0.41 2.75

South Zone 1800 RMUG08-56 27.60 41.50 13.90 45.60 0.82 2.42
including 34.40 36.10 1.70 5.58 6.53 18.35

South Zone 1800 RMUG08-57 30.10 33.70 3.60 11.81 0.93 3.81
including 31.50 33.70 2.20 7.22 1.05 5.12

South Zone 1800 RMUG08-58 35.25 40.60 5.35 17.55 0.81 1.43
including 35.25 37.05 1.80 5.91 0.80 3.27

South Zone 1800 RMUG08-60 50.90 68.10 17.20 56.43 1.20 5.70
Including 54.30 66.60 12.30 40.35 1.68 7.96
Including 57.40 62.50 5.10 16.73 3.68 15.77

South Zone 1800 RMUG08-61 40.90 58.60 17.70 58.07 0.46 1.38
Including 51.05 55.00 3.95 12.96 1.47 5.25
Including 52.00 54.00 2.00 6.56 2.33 7.11

South Zone 1800 RMUG08-62 30.00 35.20 5.20 17.06 0.39 1.97
RMUG08-62 83.10 94.85 11.75 38.55 0.94 1.56
Including 91.90 94.85 2.95 9.68 2.45 5.28
including 93.00 94.85 1.85 6.07 3.83 8.38

Surface Drilling
1807 Zone RM08-20o 660.30 660.80 0.50 1.64 3.90 2.90
1807 Zone RM08-21 765.75 766.50 0.75 2.46 3.34 4.20


For more information and a complete listing of all RMM drill intersections, corresponding maps, figures and NI43-101 compliance information please visit our website at www.ramblermines.com.

Larry Pilgrim, P.Geo. is the Qualified Person responsible for the technical content of this release and has reviewed and approved it accordingly. Mr. Pilgrim is an independent consultant contracted by Rambler Metals and Mining plc.

All tonnes are dry metric tonnes.

Drill intercepts quoted are core lengths; true widths for the Gold Zone and Ming Zone are estimated to be in excess of 60% of the intersected core lengths. Analytical results for Rambler core are first determined at Eastern Analytical, Springdale, NL. Samples are then shipped by courier to Activation Laboratories Ltd.("Actlabs'), Ancaster Ontario, where a 34 element ICP analysis and gold fire assay are performed. The results presented in this release are based on assay data from Eastern Analytical and Actlabs'. ActLabs' data, being the accredited lab for this project, will supersede all other results.

National Instrument 43-101 compliance information regarding sampling and analytical protocols pertaining to the Rambler Project can be accessed via the following link: http://www.ramblermines.com.

The TSX-Venture Exchange does not accept responsible for the adequacy or accuracy of this release.

Contact Information

  • Rambler Metals and Mining Canada Limited
    George Ogilvie, P.Eng.
    President and CEO
    (709) 532-4990
    or
    Rambler Metals & Mining Plc
    Leslie Little
    Company Secretary
    +44 (0) 20-7661-8104
    Website: www.ramblermines.com
    or
    Seymour Pierce Limited
    Nandita Sahgal
    +44 (0) 20-7107 8000
    or
    Pelham Public Relations
    Chelsea Hayes
    +44 (0) 20-7743-6675
    or
    Pelham Public Relations
    Klara Kaczmarek
    +44 (0) 20-3159-4395