NEWFOUNDLAND – Maritime Resources of Vancouver and British miner Rambler Metals and Mining have signed a non-binding letter of intent to have ore from the past-producing Hammerdown gold mine tolled at Rambler’s Nugget Pond mill.
Rambler has expanded the Ming copper-gold mine and is operating at a date of 1,250 t/d. (Image: Rambler Metals and Mining)
The two companies have had a close working relationship for several years. Now they must determine the most effective way to optimize the Nugget Pond grinding circuit to handle not only Hammerdown ore but that from Ramblelr’s Ming copper-gold mine as well. The mill has a copper flotation circuit and a carbon-in-pulp gold circuit.
Maritime is currently dewatering the Hammerdown mine – where the existing mine plan contains an estimated 400,000 oz. of gold in the inferred resource. The potential for open pit mining of three veins was examined this winter. The Hammerdown mine is part of Maritime’s Green Bay property 14 km northwest of Springdale, Nfld.
Richmont Mines operated the Hammerdown gold mine from 2000 to 2004. During that time, 290,180 tonnes of ore was processed at Nugget Pond. With an average grade of 15.74 g/t gold, 143,000 oz. were recovered.
Rambler’s Ming mine on the Baie Verte Peninsula began commercial production on Nov. 1, 2012. The proven and probable 43-101 reserves are 8.7 million tonnes grading 1.71% copper and 0.44 g/t gold. The mine had been shut down since 1982.
See both www.RamblerMines.com and www.MaritimeResourcesCorp.com.