LONDON (Alliance News) - Rambler Metals and Mining PLC Monday said it has updated its NI43-101 reserve and resource estimate at the Ming Copper-Gold Mine.
The Newfoundland-based copper and gold producer, explorer and developer said the updated mineral reserve is estimated to contain 56.7 million pounds of copper, 101,404 ounces of gold and 459,788 ounces of silver in the proven and probable categories.
The updated mineral resource is estimated to contain 697.7 million pounds of copper, 221,873 ounces of gold and 1.5 million ounces of silver in the measured and indicated categories.
The company said the new reserve estimate confirms the replacement of all tonnes mined from the 1807 zone at the site to date and extends the mine life for one year.
The updated resource and reserve estimate for the Ming Copper-Gold mine is based on new exploration drilling. Since June 2013, the company has completed 5,854 meters of new drilling into the 1807 Zone.
Rambler shares were up 2.0% to 32.50 pence Monday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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