(Alliance News) - Rambler Metals & Mining PLC said on Tuesday the amount copper contained at its Ming copper-gold mine in Newfoundland, Canada had risen but added that gold and silver assays were currently unavailable.
The Surrey-based mining company said that its updated resource estimate, depleted by production through December 8, includes 23.7 million tonnes of measured and indicated resources grading 1.8% copper, containing 428,113 tonnes of copper.
Rambler said this represents a 4.9% increase in copper relative to the previous resource estimate of 408,199 declared in May 2021, after mining depletion.
Copper production in December 2021 will be approximately 300 tonnes of contained copper from 496 tonnes planned, Rambler added. The company said this would have no significant impact to the overall copper production tonnes in 2022.
Rambler explained that its gold and silver assays from 2021 were currently unavailable due to an industry-wide shortage of third party assay lab capacity versus samples submitted for precious metal assay from mining and exploration companies.
Chief Executive Toby Bradbury said that the resources for gold and silver would be updated and released in "due course".
Shares in Rambler were down 2.4% at 31.71 pence on Tuesday morning in London.
By Heather Rydings; heatherrydings@alliancenews.com
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