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Rambler Metals & Mining Plc
TSX VENTURE:
RAB
AIM: RMM
May 14, 2008 07:00 ET
Rambler Reports Latest Drill Results at the Ming Mine Drills 5.10 Metres of 3.68 g/T Gold and 15.77% Copper
LONDON, ENGLAND and BAIE VERTE,NEWFOUNDLAND AND LABRADOR--(Marketwire - May 14, 2008) - Rambler Metalsand Mining plc (TSX VENTURE:RAB)(AIM:RMM) is pleased to announcefurther positive drill results from its underground diamond drillingexploration program at the Ming Mine.
Highlights include the following assay results:
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Sample
Drill Hole Length Au Cu
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RMUG08-46 2.20 m 0.41 g/t 2.75 %
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RMUG08-56 13.90 m 0.82 g/t 2.42 %
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including 1.70 m 6.53 g/t 18.35 %
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RMUG08-57 2.20 m 1.05 g/t 5.12 %
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RMUG08-60 17.20 m 1.20 g/t 5.70 %
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including 5.10 m 3.68 g/t 15.77 %
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RMUG08-61 3.95 m 1.47 g/t 5.25 %
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RMUG08-62 2.95 m 2.45 g/t 5.28 %
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Ming Massive Sulphide Horizon (South Zone)
During the historical production period of the Ming Mine, ore wasextracted primarily from the Ming Massive Sulphide Horizon. Due tolower metal prices at the time, much of the ore on the periphery of thedeposit was deemed uneconomical to extract. In view of the presentfavourable market prices for copper and gold, Rambler has designed partof its ongoing underground diamond drill program to define the extentof these unmined zones. These zones of high-grade mineralization, whichare close to present development, could increase cash flows in theearly years of production, reducing the initial capital investmentrequired for start-up and improving the overall project economics.
The second underground drill rig is expected to arrive at the endof May and will focus on delineating the near development massivesulphide zones, as well as the potential high-grade gold mineralizationassociated with the massive zones.
Surface Program
After a number of years of continuous drilling the directionalsurface program officially ended April 2008 with the culmination of ourfirst published NI43-101 resource estimate. The last holes from thisprogram have returned encouraging results however Rambler believes thatfuture exploration can be better achieved through underground driftingfrom existing levels. RM08-21 was designed to test the highly promising1807 Massive Sulphide Zone 100m down plunge of any existingintersection to date.
In the next few months Rambler will be conducting a Titan 24 DCIPand MT ground geophysical survey over Rambler Property adjacent to theknown deposits. This survey will aim to identify massive sulphide drilltargets and will also be useful in helping the Rambler team unravel thestructural history of the area by identifying more favourable horizonsof mineralization. The Titan 24 system has the ability to effectivelysearch for conductive bodies up to 1 km in depth, far beyond thecapabilities of any previous geophysical surveys completed in the area.
George Ogilvie, P.Eng, President and CEO, Rambler commented;
"The underground diamond drilling is now beginning to discover highgrade massive sulphides with associated gold that were not previouslymined. We are confident that with the addition of a smaller secondunderground drill further success can be achieved in discovering newareas of mineralization. It's also important to bear in mind that theseresults were not considered in our recently published NI43-101 but willbe included in the resource update that we expect to publish later inthe year."
The table below summarizes the widths, grades and drill station ofthe recent holes. All underground drill holes targeted the up plungeextension of the Ming Massive Sulphide Horizon (South Zone).
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Drill From To Length Length Au Cu
Target Level Hole (m) (m) (m) (feet) (g/t) (%)
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South Zone 1500 RMUG08-45 67.00 69.00 2.00 6.56 1.08 1.99
South Zone 1500 RMUG08-46 22.50 24.70 2.20 7.22 0.41 2.75
South Zone 1800 RMUG08-56 27.60 41.50 13.90 45.60 0.82 2.42
including 34.40 36.10 1.70 5.58 6.53 18.35
South Zone 1800 RMUG08-57 30.10 33.70 3.60 11.81 0.93 3.81
including 31.50 33.70 2.20 7.22 1.05 5.12
South Zone 1800 RMUG08-58 35.25 40.60 5.35 17.55 0.81 1.43
including 35.25 37.05 1.80 5.91 0.80 3.27
South Zone 1800 RMUG08-60 50.90 68.10 17.20 56.43 1.20 5.70
Including 54.30 66.60 12.30 40.35 1.68 7.96
Including 57.40 62.50 5.10 16.73 3.68 15.77
South Zone 1800 RMUG08-61 40.90 58.60 17.70 58.07 0.46 1.38
Including 51.05 55.00 3.95 12.96 1.47 5.25
Including 52.00 54.00 2.00 6.56 2.33 7.11
South Zone 1800 RMUG08-62 30.00 35.20 5.20 17.06 0.39 1.97
RMUG08-62 83.10 94.85 11.75 38.55 0.94 1.56
Including 91.90 94.85 2.95 9.68 2.45 5.28
including 93.00 94.85 1.85 6.07 3.83 8.38
Surface Drilling
1807 Zone RM08-20o 660.30 660.80 0.50 1.64 3.90 2.90
1807 Zone RM08-21 765.75 766.50 0.75 2.46 3.34 4.20
For more information and a complete listing of all RMM drillintersections, corresponding maps, figures and NI43-101 complianceinformation please visit our website at
www.ramblermines.com.
Larry Pilgrim, P.Geo. is the Qualified Person responsible for thetechnical content of this release and has reviewed and approved itaccordingly. Mr. Pilgrim is an independent consultant contracted byRambler Metals and Mining plc.
All tonnes are dry metric tonnes.
Drill intercepts quoted are core lengths; true widths for the GoldZone and Ming Zone are estimated to be in excess of 60% of theintersected core lengths. Analytical results for Rambler core are firstdetermined at Eastern Analytical, Springdale, NL. Samples are thenshipped by courier to Activation Laboratories Ltd.("Actlabs'), AncasterOntario, where a 34 element ICP analysis and gold fire assay areperformed. The results presented in this release are based on assaydata from Eastern Analytical and Actlabs'. ActLabs' data, being theaccredited lab for this project, will supersede all other results.