Rambler Metals and Mining plc (TSX
VENTURE:RAB - News; AIM:RMM)
('Rambler' or the 'Company') is pleased to announce that as of January 1st,
2011, Mr. Peter Mercer, will assume the role of Corporate Secretary in
conjunction with his other duties as VP Corporate Development. Mr. Leslie
Little, the current Corporate Secretary, will be retiring at the end of the
calendar year but will stay on in the interim to assist with the transition
of Mr. Mercer in his new position. The registered address of the company will
remain the same in the New Year.
George Ogilvie, P.Eng,
President and CEO, Rambler commented;
"On behalf of the management and
Board I would like to thank Leslie for his efforts over the past 5 years and
wish him every success in his future endeavours.
"Having Peter take on these
additional duties will further streamline our business as the position will
be based in St. John's, Newfoundland where the other Company Senior Officers
are resident."
About Rambler
Rambler Metals and Mining is Junior
Mining Company that has 100% ownership of the Ming Copper-Gold Mine in Baie Verte, Newfoundland and
Labrador, Canada. Our objective is to become a mid-tier mining company by
bringing the Ming Mine into production, discovering new deposits and through
M&A's. Following the acquisition of the Ming Mine, Rambler, listed on the
London AIM in 2005 and Toronto TSX-V in 2007.
The Ming property had been a former
underground copper and gold producing mine that ceased production when the
deposit reached a then third party property boundary. This neighbouring property was subsequently consolidated before
being brought into Rambler's portfolio. Rambler now owns a 100% interest in
the property.
The area where the mine is located is a
former mining centre and subsequently good infrastructure exists including
roads, fresh water, hydro, access to a working port while the town of Baie Verte, population 1,300 is
located 17km away.
Over the last several years Rambler has
been exploring on the property leading to the publication of three NI43-101
resource statements, a newly published reserve statement, the
discovery of new mineralized lenses and the extension of pre-existing lenses.
Today all mineralization remains open in multiple directions while,
importantly, the deposit has not been cut-off at depth. The underground
workings have been dewatered and services including air, water and electrical
re-installed.
In October 2009, Rambler purchased an
operational gold hydrometallurgical mill, Nugget Pond, which is situated
approximately 40km from the Ming Mine. Rambler intends to expand the mill so
that it is capable of handling massive sulphides
from the Ming Mine and produce a copper concentrate with gold and silver as
by-products. By utilizing the hydrometallurgical facility, in conjunction
with the concentrator, the company anticipates increased gold recovery as well
as recovering any free gold.
Following the successful publication of
a positive Feasibility Study Rambler has now entered the construction phase
of the project and expects to bring the Ming Mine back into production in
2011.
Forward Looking Statement:
Some of the statements contained herein
may be forward-looking statement, which involve known and unknown risks and
uncertainties. Without limitation, statements regarding future plans and
objectives of the Company are forward looking statements that involve various
degrees of risk. It is important to note that the Company's actual results
could differ materially from those in such forward-looking statements.
Neither TSX Venture Exchange nor its
Regulation Service Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contact:
George Ogilvie, P.Eng.
Rambler Metals and Mining Canada Limited
President and CEO
709-532-4990
Leslie Little
Rambler Metals & Mining Plc
Company Secretary
+44 (0) 14-8341-9942
www.ramblermines.com |