Rambler M&M notes Q1 2017 production results

Rambler Metals and Mining has provided an operational update for the first quarter ended 31 October 2016.

"Mill production for the period was comparable with last quarter which was a record for the Company," said President and CEO Norman Williams.

"Grades and recovery for copper and gold were in line with our plan as development into the Lower Footwall Zone progressed.

"Over the coming months, the Company will continue its work to increase mill throughput to ensure that all existing infrastructure, at both the mine and mill, are fully optimized in conjunction with sustainable ore production from the LFZ."

The highlights are as follows:

- Production of 4,006 tonnes of copper concentrate, representing a 2% decrease over Q4/16 resulting from a slightly lower copper head grade during the quarter.

- Dry tonnes milled of 69,609 tonnes, equal to Q4/16 and a 20% increase over Q1/16, driven by an increase in production from the Lower Footwall Zone ('LFZ'); 1,057 tonnes of saleable copper (a 1% increase over Q4/16 and a 15% decrease over Q1/16); 1,619 ounces of saleable gold (a 12% increase over Q4/16 and a 12% decrease over Q1/16)

- Head grades of copper averaged 1.7% for the quarter (a 6% decrease over Q4/16); gold averaged 1.1 g/t (6% decrease over Q4/16). Grades for the 3 month period were in line with plan with the majority of LFZ ore now being sourced from either capital development or from the first post-pillar cut and fill ('PPCF') test stope outside of the known reserve. Once the LFZ is fully developed, ore will be primarily sourced from larger stopes.