RNS 'Positive result'23 Jan 2013 07:38
Ormonde Mining plc
("Ormonde" or "the Company")
Positive Drilling Results at Peralonso, Salamanca
The Board of Ormonde is pleased to report further encouraging assay results from a second stage of drilling on the Peralonso Permit in the Salamanca Province of western Spain, which forms part of the joint venture with Aurum Mining plc.
A total of eight holes were drilled to test for near-surface extensions to the gold mineralisation identified in the first drilling (three holes) on the permit carried out in 2012. Results have now been received for six of these eight new holes, and indicate extensions at shallow depths of mineralised structures encountered in the original drilling.
Highlights
· Drill hole PERDD005 has returned intervals of 6 metres grading 1.87 grams per tonne ("g/t") gold (from 75m depth) and 9.2 metres grading 2.09 g/t gold (from 99.8m depth)
· Drill hole PERDD007 has returned 2 metres grading 10.18g/t gold (from 49m depth)
· Drill hole PERDD009 has returned 18 metres grading 0.70g/t gold (from 40m depth)
· Zones in holes PERDD005 and 007 show good correlation with that in hole PERDD001 from the first campaign which intersected 10 metres grading 3.39g/t gold