NEWFOUNDLAND – Rambler Metals and Mining of Baie Verte, NL, and London, UK, has struck a deal to process surface material from the East mine dump at Tilt Cove. The Tilt Cove property belongs to Metals Creek Resources of Toronto. Metals Creek will receive a net smelter royalty.
The historic Tilt Cove mining camp saw production from 1864 to 1917 and then again from 1957 to 1967. The second phase of mining produced nearly 7.4 million tonnes of high grade copper along with significant gold. Historic (non-43-101-compliant) resource estimates include 50,000 to 80,000 tonnes of unconsolidated material with grades from 2.0 to 4.0 g/t Au.
The material in the dump is crushed and ready to be trucked 23 km to Rambler’s Nugget Pond mill. Tests have indicated that gold leach extraction will be 96% over a 24-hour period.
Rambler is proceeding with the requisite permit applications in anticipation of a Q2 2011 start date for treating East mine material. That date will coincide with the completion of processing ore from the company’s Nugget Pond crown pillar.
More information about the potential of the Tilt Cove area is available at www.MetalsCreek.com.