Rambler Metals & Mining PLC - Surrey, England-based copper and gold producer - Provides update to its 2022 underground diamond drill program at the Ming Copper-Gold Mine, Baie Verte, Newfoundland and Labrador, Canada. Rambler says it has drilled over 5,600 meters year to date in 2022. It is providing definition drilling in the lower footwall zone and is drill testing the recently discovered Jennings and LP East Zones. Additionally, further delineation drilling in the Ming North Zone has been completed from the 795L down to the 830L. Says the next phase of the drill programme will be to continue to infill the planned LFZ stopping blocks identified in the 2024 mining plan, and to delimit the newly discovered Jennings and LP East Zones. These newly discovered zones are open in all directions and require drill hole definition to be put into the mining plan, it adds.
Chief Executive Officer Tony Bradbury says: "With these new intercepts into the indicated and inferred portions of the MNZ resource, we are seeing encouraging results from the holes we have assayed to date. We are seeing better grades at depth, and expansion of the resource to the east. Once all results have been received and imported, and the data analyzed, we will report accordingly.
"Gold assays have been sent to a third party lab for results and will be reported once received. The higher grades seen with recent drilling and coupled with the easterly expansion of the zone is encouraging as it opens up the potential for this high-grade zone to become a larger portion of the mine production plan in the years to come."
Current stock price: 28.50 pence
12-month change: down 52%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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