Ming is a copper-gold massive sulfide deposit located in northwestern Newfoundland in a region that has a strong history of gold, base metal and industrial minerals mining. The two dominant types of mineralization at Ming are stratiform volcanogenic massive sulphide (Ming Massive Sulphide) and disseminated sulphide stringers (Lower Footwall Zone).
Production began in late 2011 and Rambler produced approximately 15 kozs of gold in five months from a high-grade gold area, known as the 1806 Zone. This early production from the gold zone allowed Rambler to generate revenue while the company constructed a copper flotation circuit at the Nugget Pond Mill located approximately 40 km from the Ming mine. The processing facility includes a crushing, grinding and flotation process that been in commercial production since the second quarter of 2013. Recoveries range between 94% and 96% for copper and 65% to 70% for gold.
Rambler expanded the mill throughput capacity to 1,250 tpd in 2017 and the current mine plan from the June 2015 Pre-Feasibility Study has production continuing through 2036. The Proven and Probable Reserves as of July 20, 2015 are 8.7 Mt of ore containing 1.79% copper and 0.48 g/t gold (1.56% CuEq cut-off).
Sandstorm has a gold stream agreement to receive 25% of the first 175,000 ounces of gold, and 12% of the life of mine gold produced thereafter from the Ming Mine. In the event that the metallurgical recoveries of gold at the Ming Mine are below 85%, the percentage of gold that Sandstorm shall be entitled to purchase shall be increased proportionally. There is no ongoing cost per ounce for the gold delivered from the Ming Mine.