TIDMORM
RNS Number : 9826W
Ormonde Mining PLC
04 February 2013
4 February 2013
Ormonde Mining plc
("Ormonde" or "the Company")
Encouraging Gold Results from Prospecting in Salamanca
The Board of Ormonde is pleased to report encouraging results
from new prospecting on areas covered by permit applications which
are adjacent to its existing Peralonso and Cabeza de Caballo
("Cabeza") permits and prospects in the Salamanca Province, western
Spain, and which form part of the joint venture with Aurum Mining
plc.
The prospecting in the adjacent application areas was undertaken
as it had proven to be a highly successful method in identifying
the gold prospects at Peralonso and Cabeza.
Results received from float samples (loose blocks) collected
along the inferred strike extensions of gold-bearing structures
identified to-date have returned good gold values, and new targets
have also been identified.
Main Points
Peralonso Area
-- Gold present in a significant number of float samples located
over an area of some 700m x 200m, centred approximately 1.2
kilometres east northeast of the area of drilling at Peralonso.
From a total of 23 samples of rock collected, 13 samples returned
grades greater than 3g/t gold, with maximum values of 10.05g/t and
13.5g/t gold.
-- Two samples collected in an area some 800m northeast of the
drilling area returned values of 4.22g/t and 34.3g/t gold
respectively.
Cabeza Area
-- Gold-bearing material was indentified in several float
samples located over an area some 1.2 kilometres north of the main
zone of gold discovered in trenching to date at Cabeza. Five of 9
samples collected returned greater than 3g/t gold with a maximum
value 4.92g/t gold.
-- Two float samples collected some 800m northwest of the Cabeza
trenching returned values of 0.57g/t and 43.5 g/t gold, and support
a developing theory that the original float samples on this
prospect (8 of 13 samples returned values greater than 3/gt gold
with maximum values of 45.3g/t and 72.2g/t gold), which are located
some 400 metres northwest of the current trenching, may represent a
separate gold structure with little or no soil geochemical
expression.
-- Overall, float samples with gold values greater than 1g/t now
occur over some 2.6km of strike length.
Kerr Anderson, Ormonde's Managing Director, said:
"Prospecting has proven very successful for us in the past
leading to the discovery of the Cabeza and Peralonso Prospects. Our
widening of the prospecting coverage around the gold prospects
identified to date suggests that extensions to the known
mineralisation and further separate gold structures may be present
in the broader area. This is very encouraging."
Detail
A total of 112 samples of predominantly float material (loose
blocks) were collected over areas extending away from the existing
prospects at Peralonso and Cabeza de Caballo, principally in areas
covered by adjacent permit applications submitted to the provincial
mining authorities in the second half of 2012. The samples
collected were dominantly of quartz veining and altered granite,
with varying amounts of iron oxides and sulphide in places. The
averaged sample weight was around two kilogrammes. Statistical
presentation of the gold results from all the samples is summarised
in the following table.
Detail Peralonso Cabeza Area
Area
---------------- ---------- ------------
Total Number
of Samples 95 17
---------------- ---------- ------------
No. of Samples
=> 1g/t Au 18 (19%) 9 (50%)
---------------- ---------- ------------
No. of Samples
=> 3g/t Au 16 (17%) 6 (33%)
---------------- ---------- ------------
No. of Samples
=> 5g/t Au 8 (8%) 1 (6%)
---------------- ---------- ------------
No. of Samples
=> 10g/t Au 3 (3%) 1 (6%)
---------------- ---------- ------------
Exploration programmes in these areas will be carried out upon
the granting of the permits by the mining authorities.
Notes to table:
Sampling, Assaying and Quality Control Measures
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 its 100% owned
Barruecopardo Tungsten Project as a low cost mining operation 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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