Ormonde Mining PLC

Published : April 14th, 2011

Hemscott News Alert - Ormonde Mining PLC

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RNS Number : 8704E
Ormonde Mining PLC
14 April 2011
 

14 April 2011

Ormonde Mining plc

("Ormonde" or "the Company")

 

Barruecopardo Drilling Progress

 

The Board of Ormonde is pleased to report on-going results from its infill drilling programme at its flagship Tungsten project at Barruecopardo.  The current twenty hole infill drilling programme has been completed and the results of a further three holes located in the southern portion of the deposit, where current mineral resources are in the Inferred category, and where the various tungsten zones converge, are reported on below.

 

Main Points

 

?     All three holes encountered good intervals of tungsten mineralisation including:

BAR-56      4 metres grading 0.94% WO3

BAR-60      3 metres grading 3.79% WO3 (*2.39% with an upper-cut applied) and

11 metres grading 1.32 WO3 (*0.88% with an upper-cut applied)

BAR-61       2 metres grading 3.82% WO3 and

2 metres grading 1.03% WO3

 

?     These infill drill hole results demonstrate overall continuity of the mineralisation.

 

?     Assay results for the outstanding fourteen holes will be released on a 4-5 week basis over the coming months and will be incorporated in a final mineral resource and a revised open pit design during the summer.

 

?     Drilling is now focussed on sterilisation holes on the proposed plant and waste dump sites.

 

 

Kerr Anderson, Ormonde's Managing Director, said:

 

"These results further enable the continuity of the mineralisation on the southern end of the deposit to be better established which will allow this part of the deposit to be included in the final mine plan".

 

New Drilling Results

 

Hole

From (m)

Width (m)

True Width (m)

WO3%

WO3% (cut)*







BAR-56

156

4.0

2.7

0.94

0.94







BAR-60

108

38.0

25.5

0.75

0.51

including

108

3

2.0

3.79

2.39


115

5

3.4

0.26

0.26


126

1

0.7

0.92

0.92


135

11

7.4

1.32

0.88







BAR-61

100

2

1.3

3.82

3.82

and

113

2

1.3

1.03

1.03

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Notes to table:

 

Sampling, Assaying and Quality Control Measures

 

All core has been routinely logged by an experienced geologist.  Relevant core intervals were split in half by Diamond saw, with half being sent for assay and the other half being retained in the core boxes for reference.  Sampling is carried out over one metre intervals.

 

Sample preparation and analyses were performed at ALS Chemex (Spain). Assays are reported using the fusion XRF method.  Reference samples (blanks, duplicates and certified standards) are routinely included in each sample batch as quality control measures.  In addition check assays are performed on selected mineralised samples.

 

*Intervals are also reported using an upper-cut (or top-cut) of 7% WO3 applied to all sample results above this grade, which includes exceptionally high values of 11% WO3 in two samples in hole BAR-60.

 

 

 

Kerr Anderson PhD EurGeolPGeo, Managing Director of Ormonde Mining plc, and a qualified person as defined in the Guidance Note for Mining, Oil and Gas Companies, June 2009, of the London Stock Exchange, has reviewed and approved the technical information contained in this announcement.

 

 

A glossary explaining technical terms contained in this announcement can be found at www.ormondemining.com/en/investors/technical_glossary.

 

For more information please visit www.ormondemining.com.

 

 

Enquiries to:

 

Ormonde Mining plc

Kerr Anderson, Managing Director  Tel: +353 (0)46 9073623

 

Bankside Consultants

Simon Rothschild / Louise Mason  Tel: +44 (0)20 7367 8888   Mob: +44 (0)7703 167065

 

Davy (Nomad / ESM Adviser)

Fergal Meegan / Roland French  Tel: +353 (0)1 6796363

 

Fairfax I.S. PLC (Joint Broker)

Ewan Leggat / Katy Birkin  Tel: +44 (0)207 598 5368

 

 

ENDS

 

 

About Ormonde

Ormonde Mining Plc is quoted on the AIM in London & the ESM in Dublin. Ormonde is a mineral development and exploration company focused on Spain (Ticker ORM).

 

Ormonde's key activities include:

 

The Barruecopardo Tungsten Project - Ormonde is developing a low cost mining operation at Barruecopardo to initially produce ~8% of non-Chinese global mine production from late 2012; to become a major long-life mine.

 

The La Zarza Copper-Gold Project - Joint Venture with Antofagasta Minerals - a large "massive sulphide" deposit with significant copper, gold and zinc resources; exploration for an enlargement to the copper resource is being funded by Antofagasta.

 

Gold Explorationin several highly prospective areas of western Spain.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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Ormonde Mining PLC

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CODE : ORM.L
ISIN : IE0006627891
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Ormonde Mining is a zinc and lead exploration company based in Ireland.

Ormonde Mining develops zinc, lead, copper, gold, silver and tungsten in Spain, and holds various exploration projects in Spain.

Its main assets in development are LA ZARZA and BARRUECOPARDO in Spain and its main exploration property is SALAMANCA & ZAMORA in Spain.

Ormonde Mining is listed in United Kingdom. Its market capitalisation is GBX 359.1 millions as of today (US$ 429.6 millions, € 376.3 millions).

Its stock quote reached its highest recent level on September 10, 2004 at GBX 9.97, and its lowest recent point on March 13, 2020 at GBX 0.42.

Ormonde Mining has 472 507 482 shares outstanding.

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