Latest News15 Oct 2012 08:56
RNS Number : 6434O
Ormonde Mining PLC
15 October 2012
15 October 2012
Ormonde Mining plc
("Ormonde" or "the Company")
Update on Zamora Gold Project
Ormonde advised in its interim results issued on 27 September, 2012 that drilling at the El Facho and Peralonso Prospects, the subject of the joint venture with Aurum Mining plc, had delivered encouraging results and that further drilling is now underway at Peralonso.
In relation to the El Facho Prospect in the Zamora Province of western Spain, Ormonde wishes to advise that our joint venture partner Aurum Mining PLC has today issued the announcement below.
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.
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
Joe Heron Tel: +353 (0)1 4980300 Mob: +353 (0)87 690 9735
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
Fairfax I.S. PLC (Joint Broker)
Ewan Leggat / Katy Birkin Tel: +44 (0)207 598 5368
"AURUM MINING PLC
("Aurum" or "the Company")
Pino de Oro - Further large gold target identified
Aurum Mining plc (AIM: AUR), the gold and tungsten explorer focused in Spain, is pleased to provide the results from the soil sampling programme that has been carried out on the Pino de Oro ("Pino") permit area in North West Spain.
Previous work on the Pino permit area has focused on the "El Facho" structure where drilling to date has enabled a preliminary non-compliant resource estimate of some 122,000-145,000 ounces of gold at average grades of approximately 1g/t. *
The recent soil sampling programme was undertaken in an attempt to expand the potential resource on the permit area through the identification of additional mineralised structures in close proximity to El Facho.
Highlights of the Soil Sampling Programme
· A major new gold target ("Manton de Roble") with two main anomalous zones has been identified 500m to the north of El Facho.
· The target is potentially an extension or a repetition of the El Facho structure and, if looked at in conjunction with El Facho, could significantly bolster the size of the opportunity at Pino.
· Anomaly 1 is North-East trending with a strike length of some 400m when contoured at 250ppb gold. In the main section of the anomaly, there were consecutive values of 651ppb, 1,185ppb, 937ppb, 487ppb and 622ppb from samples 20m apart.