Rambler, Maritime sign LoI on Nugget Pond gold plant in Canada
Monday, March 16th, 2020
Exploration firm Rambler Metals and Mining Canada has signed a letter of intent (LoI) with Maritime Resources to evaluate the former’s Nugget Pond gold plant.
The Nugget Pond plant is located in the Baie Verte peninsula in northeastern Newfoundland, Canada.
The LoI signed with Maritime includes an exclusivity period of 12 months to evaluate Rambler’s Nugget Pond gold plant.
“The gold circuit is currently idle and was operated in the past by Richmont Mines, processing feed from the former Nugget Pond and Hammerdown gold mines with gold recoveries of over 95%.”
According to the companies, the LoI is to explore processing feed from the Maritime’s Hammerdown gold project at the plant and to complete a feasibility study with the option to negotiate a purchase agreement during that time.https://www.mining-technology.com/news/rambler-maritime-sign-loi/