LONDON (Alliance News) - Ramblers Metals & Mining PLC on Monday said it has hired consultants to evaluate the mining potential of the lower footwall zone at the Ming Copper-Gold Mine in Canada.
The company said it has hired independent third-party consultants to evaluate the mining potential at the site. The initial, Phase 2 plan will evaluate a production rate of up to 1,250 metric tonnes per day under a staged, low capital expenditure expansion programme.
The objective of the study will be to demonstrate the viability of a ten-year life of mine for the Ming mine, it said. It expects engineering and evaluation work to be completed by June this year.
"Through a staged low-capital expansion program we hope to fully utilize the existing copper concentrator at the Nugget Pond milling facility, optimise production at the Ming Mine while taking full advantage of the abundant lower footfall zone resource," said Rambler Chief Executive Norman Williams.
Rambler shares were up 13% in early trade to 15.00 pence, one of the best performers in the AIM All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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