LONDON (Alliance News) - Rambler Metals & Mining PLC Thursday said it has commenced diamond drilling at the Little Deer Copper Project in Newfoundland in Canada, with its 50-50 joint venture partner Thundermin Resources Inc.
The Newfoundland copper and gold producer, explorer and developer said an initial 3,800 metre diamond drilling programme has commenced on the Little Deer Copper Deposit, located in north-central Newfoundland in Canada.
The primary purpose of the drill programme, which will focus on the higher grade, eastern portion of the Little Deer deposit, is to increase the mineral resources, and to further upgrade the inferred resources to the indicated resource category.
"While the project itself boasts a healthy GBP129.1 million of contained copper metals it is important that the infill diamond drilling be completed before advancing the project through more detailed engineering and economic analysis," said President and Chief Executive Officer Norman Williams.
As part of the Little Deer Copper Project, roughly CAD8 million has been invested into the property since 2007, including 55,000 metres of diamond drilling and scoping level metallurgical test work.
Rambler Metals & Mining shares were trading 2.1% lower Thursday afternoon, at 31.10 pence per share.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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