RMM.L Share News (RMM)

LONDON (Alliance News) - Rambler Metals and Mining PLC Tuesday said it will be completing the final phase of testing to determine the viability of expanding its Ming copper-gold mine, located on the Baie Verte peninsula of the Canadian province of Newfoundland and Labrador.

In April 2012, Rambler conducted a preliminary economic analysis (PEA) on the lower footwall zone of the mine, which showed a measured and indicated resource estimate of 18,200,000 tonnes of 1.43% copper.

In an effort to reduce the capital and operating costs associated with the lower footwall zone, as per the PEA, Rambler has been investigating cost-saving ore pre-concentration techniques that could significantly reduce material-handling requirements, it said.

The final phase of test work will use dense media separation, a process whereby dense powder is mixed into water to form a heavier liquid to separate mineral particles. "The process will increase the grade of copper in the lower footwall zone by removing 30% to 40% of the lighter waste host rock with copper recoveries averaging 95%," said Rambler.

"The group is planning to implement an on-site demonstration of the dense media separation plant to scale-up the process and prove the technology for its application. Once the technology demonstration is complete and operating parameters are optimised, this project will serve as the basis of a pre-feasibility study with the goal of moving the lower footwall zones resources into the mine reserve," it said.

The Research and Development Corp of Newfoundland and Labrador (RDC), which have invested USD1 million in funds for groundwork for the on-site demonstration plant program scheduled for later this year, will support the final phase of testing, it added.

The RDC was established by legislation in 2009 to improve research and development in the province but operates at arm's length from the Newfoundland and Labrador provincial government.

"I am pleased to report that the group is on track to begin the demonstration plant project over the coming months, with results expected in the first half of calendar 2015," said Rambler President Norman Williams.

Rambler's shares were up 0.40% to 25.10 pence per share Monday afternoon.

By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance

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