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Rambler Metals and Mining extends gold exploration footprint near Ming Copper-Gold Mine

Earlier this month, Canadian based junior gold developer Rambler Metals and Mining Plc (AIM: RMM & TSX- V:RAB) announced the purchase of the Nugget Pond processing facility on the Baie Verte peninsula. Today Rambler released an update identifying a further expansion of its operations in Newfoundland, Canada.

Rambler is taking proactive steps to explore potential Gold prospects in the area surrounding its primary Copper / Gold operations and the newly acquired Nugget Pond site. Production is due to start at the Ming Mine and Nugget Pond processing facility in 2010, focusing on the company’s Ming Copper-Gold Mine.

The Ming Mine is Rambler’s primary focus, and was initially a copper play, however, an extensive exploration programme conducted by Rambler over the past few years has increasingly identified elevated gold grades.
In February this year a NI 43-101 compliant resource update, showed a total measured and indicated resource of 3.651 million tons grading 2.21 percent copper and 1.37 grams per ton of gold. Subsequently Rambler has had an increased focus on the potential for significant gold deposits in and around the surrounding area.

In today’s statement Rambler made reference to two specific properties for which they had made early stage agreements, both properties are within close proximity to Ramblers existing operations on the Baie Verte peninsula, Newfoundland.

The first property is The Deer Cove Deposit, owned by the Tenacity Gold Company, a privately owned explorer. Rambler has signed a confidentiality agreement with Tenacity Gold Mining Company Ltd to evaluate the potential of developing the Deer Cove deposit.

The Deer Cove deposit consists of auriferous brecciated quartz/sulphide veins, and has been the subject of a number of exploratory tests and bulk samples since the nineteen eighties. The most recent study in 1999 made an incompliant resource estimate of 94,093 tonnes of high grade mineralization at 6.01 grams per tonne. Tenacity has already begun upgrading the historic resource estimates to meet today's NI43-101regulations.

Deer Cove is a accessible to trucks and located within 10Km from Rambler’s Ming Mine and 50km away from the Nugget Pond facility. According to today’s statement Rambler is confident that the deposit can be brought into production quickly with minimum expenditure.

The second property identified by Rambler is also located within a short distance of both the Ming Mine and Nugget Pond. The Corkscrew / Big Bear property is at a much earlier stage development than Deer Cove - the property is owned by Seaside Realty Ltd.

The Corkscrew / Big Bear property has had sporadic periods of exploration from as early as the nineteen eighties. Approximately 28 diamond drill holes have been completed in the past, intersecting gold mineralization of varying thickness and grades.

Rambler has entered into an option agreement to earn up to a 50% undivided interest in the Corkscrew/Big Bear Property. Rambler will assume project management of the property for two years, to provide geologic compilation and exploration management while Seaside will be responsible for all diamond drilling related costs.

Rambler intends to initiate a test drill program of the Corkscrew / Big Bear property in the spring of 2010.

In today’s statement Rambler’s CEO, George Ogilvie commented on the developments which provide Rambler Metals and Mining an increased potential for both short and long term gold production on the Baie Verte Peninsula. George Ogilvie states;

“The agreements potentially give Rambler the opportunity to develop a gold property which is in close proximity to Nugget Pond, our soon to be acquired gold hydrometallurgical facility. Further it fits well with our
strategy of becoming a major gold and base metal producer on the Baie Verte Peninsula."