TIDMORM
RNS Number : 6214T
Ormonde Mining PLC
17 December 2012
17 December 2012
Ormonde Mining plc
("Ormonde" or "the Company")
Further Good Gold Results from Trenching on the Cabeza
Prospect
The Board of Ormonde is pleased to report further very
encouraging results from its trenching programme at our Cabeza de
Caballo ("Cabeza") Gold Prospect in the Salamanca Province, western
Spain. This prospect is part of our joint venture with Aurum Mining
plc.
Results received from samples collected in the latest two
trenches excavated on an extensive gold-in-soil anomaly have
encountered gold mineralisation over wide zones of good grade.
These results follow on from earlier trenching that encountered
similar gold mineralisation as announced on 23 October 2012.
Main Points
-- Trench CABTR006 encountered two main zones of veining and
mineralisation (19m and 30m wide respectively). Best intervals
within the two mineralised zones include:
o First zone: 4 metres grading 8.17 grams per tonne ("g/t"), and
1 metre grading 14.0g/t gold;
o Second zone: 1 metre grading 4.72 g/t, 11 metres grading 1.57
g/t and 5 metres grading 1.22g/t gold. If zero gold grade is
assigned to the intervals that were not sampled between these zones
(total of 13 metres), then this gives an average grade of 0.97g/t
gold over the full 30 metre zone of interest.
-- Trench CABTR006 is located some 90 metres south of Trench
CABTR004 reported in October which returned 21 metres grading 3.71
g/t gold from a similar zone of quartz-sulphide veining.
-- These trenches are located on a gold-in-soil anomaly which
has a strike length of some 800 metres.
A map of the trenches and the gold-in-soil anomaly can be
accessed by clicking here.
Kerr Anderson, Ormonde's Managing Director, said:
"These are further very encouraging results from the Cabeza
Prospect, with gold mineralisation being identified at surface over
wide zones of good grade. This supports our growing confidence that
we have identified a significant new gold system in this area.
We now intend to expand our activities at Cabeza early in the
New Year, with further trenching scheduled to be undertaken in
January and a follow up drilling campaign thereafter."
Detail
Two further trenches for a total of 280 metres were excavated at
Cabeza de Caballo Prospect on a gold-in-soil anomaly, which has a
strike length of some 800 metres (NNE-SSW) at 50ppb gold. These
trenches were a follow-up to test the strike extension of thick
zones of good grade gold mineralisation identified during the first
trenching programme to be carried out on the Prospect as reported
in October (Trenches CABTR001 to 004), which included an interval
of 21 metres grading 3.71g/t gold from a zone of steeply-dipping
quartz-sulphide veining within altered granites in Trench CABTR004.
Trench CABTR006 was excavated some 90 metres south of Trench
CABTR004 and encountered two zones of strong veining and alteration
from 11 to 30m (19m wide) and 56 to 86m (30m wide). Complete
sampling of one of these zones was not possible. Assaying of the
first zone returned best intervals of 4 metres grading 8.17g/t and
1 metre grading 14.0g/t gold and may be correlated with a zone of
weak mineralisation in Trench CABTR003. The second zone returned
several intervals including 1 metre grading 4.72 g/t, 11m grading
1.57 g/t and 5m grading 1.22 g/t gold and is interpreted as the
continuation of the zone in CABTR003 and 004. If zero gold grade is
assigned to the intervals that were not sampled (total of 13m) in
this 30m wide second zone, then this gives an average gold grade of
0.97g/t gold. Trench CABTR005 was excavated on the northern margin
of the soil anomaly and encountered essentially fresh granitic rock
with no significant veining or alteration. Chip sampling returned
no significant gold grades in samples collected from Trench
005.
Results received from the six trenches excavated to-date are
summarised in the table below. The resumption of trenching will
focus on the area to the south of CABTR006 towards the earlier
trenches CABTR001 and 002 around 400-450m to the south and will be
followed thereafter by drilling.
Trench From To Au g/t
(m) (m)
---------- -------- ------- ---------------
CABTR005 No significant mineralization
---------- ----------------------------------
CABTR006 11.0 15.0 4m @ 8.17
22.0 23.0 1m @ 14.0
29.0 30.0 1m @ 3.41
56.0 57.0 1m @ 4.72
11m @
64.0 75.0 1.57
81.0 86.0 5m @ 1.22
---------- -------- ------- ---------------
Trench From To Au g/t
(m) (m)
---------- ------ ------ ----------
CABTR001 5.8 6.8 1m @ 0.61
8.0 9.0 1m @ 2.20
17.0 18.0 1m @ 1.53
28.0 29.0 1m @ 16.6
59.0 60.0 1m @ 0.61
69.0 70.0 1m @ 0.85
113.0 114.0 1m @ 2.26
143.0 144.0 1m @ 2.56
---------- ------ ------ ----------
CABTR002 3.0 4.0 1m @ 0.70
11.0 12.0 1m @ 0.67
---------- ------ ------ ----------
CABTR003 13.0 14.0 1m @ 1.07
18.0 19.0 1m @ 0.95
28.0 31.0 3m @ 0.65
40.0 41.0 1m @ 0.70
58.0 59.0 1m @ 1.96
64.0 67.0 3m @ 0.87
69.0 70.0 1m @ 3.27
71.0 75.0 4m @ 1.96
78.0 82.0 4m @ 1.85
88.0 91.0 3m @ 2.13
92.0 94.0 2m @ 1.25
97.0 98.0 1m @ 11.8
---------- ------ ------ ----------
21m @
CABTR004 0.0 21.0 3.71
---------- ------ ------ ----------
Significant Intercepts 0.5 g/t cut (1m minimum width of
intercept and 5m maximum internal dilution)
Notes to table:
Sampling, Assaying and Quality Control Measures
All trenches have been mapped and sampled by an experienced
geologist. Sampling is carried out over one metre intervals.
Sample preparation and analyses were performed at ALS Chemex
(Spain). Assays are reported using Fire Assay and AAS on a 50g
sample. 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.
Kerr Anderson PhD EurGeolPGeo, Managing Director of Ormonde
Mining plc, and a qualified person as defined in the 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 or
follow Ormonde on Twitter https://twitter.com/ormondemining or
Linkedin http://www.linkedin.com/company/ormondemining-plc
Enquiries to:
Ormonde Mining plc
Kerr Anderson, Managing Director Tel: +353 (0)1 8253570
Bankside Consultants
Simon Rothschild Tel: +44 (0)20 7367 8888 Mob: +44 (0)7703 167065
Murray Consultants
Ed Micheau Tel: +353 (0)1 4980300 Mob: +353 (0)86 803 7155
Davy (Nomad / ESM Adviser)
Eugenée Mulhern / Roland French Tel: +353 (0)1 6796363
ENDS
About Ormonde
Ormonde Mining Plc is admitted to trading on the AIM market in
London & the ESM market in Dublin. Ormonde is a mineral
development and exploration company focused on Spain (Ticker:
ORM).
Ormonde's key activities include:
Barruecopardo Tungsten - Ormonde is developing a low cost mining
operation at Barruecopardo to become a major, secure European
supply of tungsten.
La Zarza Copper- polymetallic massive sulphide deposit in the
prolific Iberian Pyrite Belt of southern Spain.
Gold Explorationin several highly prospective areas of western
Spain which includes its joint venture agreement with Aurum Mining
plc (AIM: AUR), where Ormonde currently has a 40% interest in the
Pino de Oro project in the Zamora Province and a 46% interest in
the Peralonso and Cabeza projects in Salamanca Province of western
Spain. Ormonde is Manager of the Joint Venture.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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