🕐21.01.09 - 17:36 Uhr
RAMBLER REPORTS POSITIVE RESULTS FROM ITS TITAN 24 GEOPHYSICAL SURVEY
21st January, 2009
RAMBLER REPORTS POSITIVE RESULTS FROM ITS TITAN 24 GEOPHYSICAL SURVEY
London, England & Baie Verte, Newfoundland and Labrador Rambler Metals and
Mining PLC (TSXV: RAB, AIM: RMM) is pleased to announce that it has received
positive results from a Titan 24 DCIP and MT survey completed over the
Rambler Property during July and August, 2008.
HIGHLIGHTS
Seventy-seven (77) separate anomalies of varying significance were
identified on the nine (9) survey profiles.
Two of these are deemed high priority and are represented by
multi-parameter (MT+DC+IP) anomalies with characteristics indicative of
highly conductive zones similar to the Ming ore bodies.
A further
twenty-eight (28) anomalies are deemed second priority, represented by
varying degrees of chargeability and resistivity.
One of the high priority anomalies occurs approximately 300 meters below
the Ming Horizon and has an apparent strike length of 200 meters and a
plunge of + 500 meters.
The second high priority anomaly occurs higher in
the stratigraphy above the Ming Horizon, approximately 150 meters below
surface.
A preliminary evaluation of all the 77 anomalies has been completed and
the results are currently being imported into a 3D modelling program, which
will incorporate all available geological data.
After full data evaluation a
drill program will be designed to test those anomalies determined to be of
the highest potential for new discoveries.
Larry Pilgrim, Chief Geologist commented,
Rambler is pleased with the new results produced from this survey.
We are
confident that the final data interpretation will generate new targets for
further exploration; potentially making new discoveries of economically
viable mineral deposits on the Rambler property.
Of particular significance
are those targets directly along plunge of the delineated ore bodies, like
the 1807 and 1806 zones.
Further extensions of these zones could increase
our current NI43-101 resource estimate and ultimately strengthen the
economics of the project.
SURVEY OBJECTIVES
The intent of the Titan DCIP and MT survey was to provide sub-surface
resistivity and chargeability mapping both along strike and down plunge of
the historically producing Ming ore bodies (2.1 Mt at 3.5 percent Cu and
0.07 oz/ton Au).
The survey was designed to test the favourable Ming Horizon
which hosts the high grade Ming ore bodies.
The Rambler Property covers
2,400 meters of strike length of the favourable Ming Horizon of which only
500 meters had been previously tested at depth.
The area hosts significant
potential for further discoveries both down plunge and adjacent to the known
deposits.
The Ming ore bodies are members of a special class of gold rich Volcanogenic
Massive Sulphide (VMS) deposits.
Three mineralization types are commonly
recognized at Rambler; stratiform VMS; disseminated stringers of sulphides
in the footwall zone (MFZ); and epigenetic shear-hosted mineralization
overprinting VMS and MFZ mineralization.
The DC/IP component of the Titan survey provides an excellent means of
delineating target mineralization within the top 500 to 750 meters, far
beyond any historical geophysical surveys completed from surface in the
area.
The MT resistivity provides additional resistivity information from
surface to depths beyond one kilometre.
The MT resistivity is useful for
mapping geological contacts with resistivity contrasts and deep conductors
that can potentially represent alteration or mineralization.
SURVEY RESULTS
Rambler Metals and Mining is pleased with the results of the Titan
geophysical survey.
A total of seventy-seven (77) separate DC, IP and MT
anomalies of varying significance were identified on the nine (9) survey
profiles.
Two (2) of these anomalies are deemed high priority and are represented by
multi-parameter (MT+DC+IP) anomalies with low resistivity and high
chargeability indicative of highly conductive zones similar to the Ming ore
bodies.
One of these, a +80.0 millirad chargeability anomaly occurs
approximately 300 meters below the Ming Horizon and has an apparent strike
length of 200 meters and a plunge of 500+ meters.
The second +80.0 millirad
chargeability anomaly occurs higher in the stratigraphy above the Ming
Horizon approximately 150 meters below surface.
Twenty-eight (28) are deemed
second priority represented by varying degrees of chargeability and
resistivity.
Thirty-five (35) are classified as third priority, while twelve
(12) are deemed low priority anomalies.
Rambler Metals and Mining has completed a preliminary evaluation of the 77
anomalies and is in the process of importing the results into a 3D modelling
program.
The 3D model will incorporate all historical and recent diamond
drilling data, historical geophysical, geochemical data and surface
geological mapping.
The 3D interpretation will redefine the geophysical
anomalies based on their proximity to known mineralization or location
within the stratigraphic pile.
No other known source of conductive material (such as graphite) has been
reported in the Rambler Camp from underground development or diamond
drilling.
Therefore Rambler Metals and Mining is confident that a number of
the anomalous zones defined by the Titan survey are a result of
accumulations of disseminated, stringer or massive sulphides similar to
other known mineralization in the Rambler Camp.
After full evaluation of all
of the anomalies a drill program will be designed to test those determined
to be of the highest potential for new discoveries.
Rambler Metals and Mining would like to thank the Government of Newfoundland
and Labrador for its monetary contribution to the project under the Junior
Exploration Mineral Incentive Program administered through the Department of
Natural Resources.
For more information and a complete listing of all RMM drill intersections,
corresponding maps, figures and NI43-101 compliance information please visit
our website at www.ramblermines.com.
George Ogilvie, P.Eng.
President and CEO
Rambler Metals and Mining
Canada Limited
Tel No: 709-532-4990
Leslie Little
Company Secretary
Rambler Metals & Mining Plc
Tel No: +44 (0) 20-7661-8104
Nandita Sahgal
Seymour Pierce Limited
Tel No: +44 (0) 20-7107 8000
Chelsea Hayes/Klara Kaczmarek
Pelham Public Relations
Tel No: +44 (0) 20-7743-6675 /20-3159-4395
Larry Pilgrim, P.Geo., is the Qualified Person responsible for the technical
content of this release and has reviewed and approved it accordingly.
Mr.
Pilgrim is an independent consultant contracted by Rambler Metals and Mining
plc.
Neither TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or accuracy
of this release.
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