RMM.L Regulatory News (RMM)

6 Feb 2007 12:12

Rambler Metals & Mining PLC06 February 2007 Rambler Metals & Mining Plc 6th February 2007 Rambler Provides Summary Overview of Exploration Success London, England & Baie Verte, Newfoundland and Labrador - In conjunction withits announcement earlier today of the listing of its ordinary shares on the TSXVenture Exchange, Rambler Metals and Mining plc (TSXV:RAB, AIM:RMM) is pleasedto provide a summary overview of the exploration results from its Ramblercopper-gold project located in Newfoundland and Labrador. The Rambler project covers the historic Ming and Ming West copper-gold mines onthe Baie Verte Peninsula on the island of Newfoundland. Exploration workcarried out by RMM since its listing on the London AIM market in early 2005 hasprimarily focused on evaluating and delineating the Ming Footwall deposit. Thiswork has also resulted in the discovery of the Upper Ming Footwall deposit, andhas confirmed extensions to both the historic Ming and Ming West deposits. Allof these deposits are located within reasonable proximity to the historicunderground mine infrastructure, which the company is about to begin dewateringand rehabilitating. Ming Footwall Zone The Ming Footwall Zone (MFZ) is located approximately 100 metres below andgenerally parallel to the historic Ming Mine workings. To date, the deposithas been identified along a 1500 metre plunge length and has an apparent widthof 50 to 150 metres. The deposit thickness generally exceeds 20 metres, up to70 metres and is being evaluated as a potential low-cost, bulk undergroundmining operation. Highlight drill results from the MFZ include: Hole From To Length (m) Length Cu Au (ppb) (m) (m) (feet) (%)RM04-03 913.07 925.21 12.14 39.83 2.32 165RM04-03 934.64 956.74 22.10 72.51 2.26 79 RM06-03b 891.70 898.10 6.40 21.00 3.40 208RM06-03b 903.80 914.80 11.00 36.09 2.44 95RM06-03b 922.20 940.20 18.00 59.06 2.28 95 RM06-03e 934.65 953.38 18.75 61.52 1.89 127including 934.65 943.83 9.18 30.12 2.70 143 RM04-04 1092.09 1099.45 7.36 24.15 1.96 71 RM06-04b 1070.00 1085.00 15.00 49.21 2.44 89RM06-04b 1107.50 1121.00 13.50 44.29 2.45 91 RM06-04c 1061.50 1098.70 37.20 122.05 2.23 84RM06-04c 1111.00 1130.63 19.63 64.40 2.89 296including 1114.02 1124.59 10.57 34.68 3.73 496 RM06-04d 1074.00 1092.00 18.00 59.06 2.55 244including 1074.00 1084.50 10.50 34.45 3.16 271 RM06-04e 1071.50 1089.00 17.50 57.41 2.00 124RM06-04e 1094.90 1106.90 12.00 39.37 2.04 122RM06-04e 1118.00 1135.40 17.40 57.09 3.18 214RM06-04e 1162.00 1168.00 6.00 19.69 2.24 65 RM05-08 1220.65 1232.89 12.24 40.16 1.92 185including 1220.65 1226.45 5.80 19.03 2.61 248 RM06-17 782.50 788.50 6.00 19.69 2.33 108 Upper Ming Footwall Deposit The Upper Ming Footwall Deposit is a new high-grade discovery that sitsstratigraphically between the Ming Deposit and the Ming Footwall Zone. It hasbeen intersected thus far along a 150 metre plunge length where it rangesbetween 6.0 and 14.4 metres in thickness. The newly discovered deposit is bothopen across strike and down plunge. Highlight drill results are as follows: Hole From To Length (m) Length Cu Au(ppb) (m) (m) (feet) (%)RM06-04f 974.00 980.00 6.00 19.68 14.55 1614 RM06-04g 966.10 980.50 14.40 47.23 5.16 471including 967.50 970.80 3.30 10.82 14.60 1370 RM06-04h 962.60 972.50 9.90 32.47 3.51 388including 968.60 970.60 2.00 6.56 11.56 1335 Ming and Ming West Deposits The historical mine production from the Rambler Project originates from the Mingand Ming West massive sulphide deposits. These parallel, plunging deposits areon the same stratigraphic horizon and separated by 250 metres. Mining wascarried out from surface to approximately 750 metres vertical depth along a 1500meter plunge length. A decline that extended to 820 vertical meters and a shaftthat extended to 650 vertical meters facilitated this production. Historicalproduction from the Ming Deposit was estimated at 2.1 million tons grading 3.5%Cu and 2.4 g/T. Mining ceased in 1982 when workings reached an historicneighbouring property at a time of low copper prices. The properties have sincebeen consolidated and now comprise part of the Rambler Project. At the time ofmine closure it was estimated that 350,000 tons of 3.4% Cu and 1.7 g/T Auremained in the Ming Deposit and that 55,000 tons of 6.5% Cu and 1.1 g/T Auremained in the Ming West Deposit (near the 1800 level) adjacent to the propertyboundary. These estimates are historical in nature and are not NI-43-101compliant and therefore should not be relied upon (see notes below). Recentdrilling undertaken by Rambler Metals and Mining to test for further extensionsof these deposits across the former property boundary has resulted in thediscovery of interpreted extensions to both of these deposits. Highlight drillresults from these deposit extensions are described below. Hole From To Length (m) Length Cu Au(ppb) (m) (m) (feet) (%)RM03-02 1138.50 1141.00 3.53 11.58 3.26 3022 RM05-08 1024.71 1029.48 4.77 15.65 1.96 8787 RM05-15 1054.20 1059.00 4.80 15.74 2.90 589 RM06-04e 885.50 897.50 12.00 39.36 3.18 3835 A complete listing of RMM drill intersections to date, as well as correspondingmaps and figures can be found at www.ramblermines.com. Delineation and exploration drilling continues at the Rambler Project employingtwo drill rigs both of which are successfully utilizing directional drillingtechnology. It is anticipated that new drilling results will be available forrelease within the next week. As underground dewatering and rehabilitationadvances throughout the year a con-current program of underground drilling willbe initiated. The underground drilling program will greatly increase the rateof delineation drilling of the deposits which in turn will allow Rambler to morequickly evaluate potential mining scenarios. George OgilvieVP & COORambler Metals and MiningCanada Limited Leslie Little, Company SecretaryRambler Metals & Mining PlcTel No: 020-7661-8104 Mark Graves, P.Geo. is the Qualified Person responsible for the technicalcontent of this release. Mr. Graves is an employee of Rambler. Drill intercepts quoted are core lengths; true widths are estimated to be 90% to95% of the intersected core lengths. National Instrument 43-101 complianceinformation regarding sampling and analytical protocols pertaining to theRambler Project can be accessed via the following link: http://www.ramblermines.com Mineral exploration on the Rambler property is being conducted by RMM personnel. All drill holes have produced 47.6 millimetre diameter (1.875-inch) NQ diamonddrill core. The drill core is descriptively logged on site, aligned, marked forsampling and then split in half, longitudinally, using a diamond saw blade.One-half of the core is preserved in core boxes for future reference. Thesamples comprising the other half of the core are bagged, sealed and delivereddirectly to the analytical laboratory by RMM personnel. Base metal-bearingsamples are nominally 1 metre to 1.8 metres (3.28 to 5.90 feet) in length exceptwhere specific geologic parameters require that a smaller interval be sampled.Samples with suspected precious metal content are nominally one metre or less,depending on the geological circumstances. The sawed samples are delivered directly to Eastern Analytical Limited inSpringdale, Newfoundland by RMM personnel where they are dried, crushed andpulped. Samples are crushed to approximately -10 mesh and split using a rifflesplitter to approximately 300 grams. The sample split is pulverized using aring mill to approximately 98% minus 150 mesh. In addition to regular samples,blank samples and quarter-split samples are also submitted for crushing/pulping. The sample pulps are picked up directly at Eastern Analytical Limited by RMMpersonnel and returned to the project site at which point analytical standardsamples and duplicate samples are inserted into the sample stream. The qualitycontrol procedures utilized by RMM have been approved by Scott Wilson RoscoePostle Associates Inc. (Scott Wilson RPA). Their review was the basis of atechnical report written by Scott Wilson RPA on the Rambler project conformingto NI 43-101 Standards of Disclosure for Mineral Projects. All sample rejectsare also retrieved from Eastern Analytical by RMM personnel and securely storedby RMM. The sample pulps are shipped by courier to Activation Laboratories Ltd. inAncaster, Ontario for analysis. A typical analysis consists of three,industry-standard components: (1) an aqua regia digestion followed by a 34 element ICP analysis, (2) a gold assay consisting of a one assay ton fire assay with finish by atomicabsorption, and (3) an assay of specific base metals by aqua regia digestion followed by atomicabsorption spectroscopy for those elements which exceed the limits of ICPaccuracy. Check assays for the Rambler project are being conducted by ALS Chemex, usingindustry-standard techniques posted on their website. Check assays are alsoroutinely performed at Eastern Analytical Limited. The drill program andsampling protocol are being supervised by Mark Graves, P.Geo.; a QualifiedPerson as defined under the Canadian Securities Administrators' NationalInstrument 43-101. Historical Estimates For the Ming Mine, the most comprehensive historical estimates available derivefrom a review prepared in 1982 by D.M. Burton ("Burton"). In 1997 CanameraGeological Ltd. ("Canamera") was commissioned to do a feasibility study on theRambler Property for Ming Minerals and drew heavily on Burton's work. Canamerareported remaining estimates on the property. Canamera concluded that theoutlined mineral resource would not support an economically feasible operation.Note that these estimations and resources definitions are not in compliance withCanada's NI 43-101. Burton (1982) classified the MFZ resources as "Possible". The other resourceshave not been classified by Canamera (1997). These estimates are historicalestimates and which should not be relied upon. See the technical report on theRambler property available at www.sedar.com for the full details andqualifications regarding these estimates. The TSX Venture Exchange has neither approved nor disapproved the contents ofthis press release. The TSX Venture Exchange does not accept responsibility forthe adequacy or accuracy of this release. This information is provided by RNS The company news service from the London Stock Exchange