ORM.L Regulatory News (ORM)

6 Oct 2008 07:00



06 October 2008

Ormonde Mining plc

High Grade Results From Initial Infill Drilling of Thick Tungsten Zone at Barruecopardo

DUBLIN & LONDON: 06 October 2008 - Ormonde Mining plc ("Ormonde" or the "Company") is pleased to report very encouraging drilling results from its Barruecopardo Tungsten Project in Salamanca, Spain (the "Project").

Highlights

Kerr Anderson, Managing Director, said:

"We are very pleased with these great drilling results, both in terms of the infill assays and very encouragingly in starting to provide evidence of a depth extension of the deposit below the level of previous drilling. We look forward to reporting further results from the programme as assays are received."

New Drilling Results

Zone codes:

FP = Filon Principal Zone

FC = Filon Central Zone

Drill hole BAR-47 was drilled under the main open pit to test the thick Filon Principal Zone, on a 50 metre infill section between previous holes BAR-26B and BAR-35, which had returned the following results:

The results of BAR-47 are therefore in line with expectations and support the view that this zone could be amenable to either bulk mining or higher grade selective mining methods.

Drill holes BAR-46 and 46B intersected the depth continuation of the tungsten mineralisation, and demonstrate that the Barruecopardo Deposit extends for at least 100 metres below the level of the current published resource. This is the first drilling at these depths of the deposit and serves to indicate further depth continuity along this 1.5 kilometre long, steeply-dipping deposit.

Drill hole BAR-46 was abandoned before reaching its target depth due to technical difficulties, and the hole was re-drilled and completed as BAR-46B.

Notes on assay method:

BAR-47 - Assays are reported using the fusion XRF method.

BAR-46 and 46B - Assays are reported using the ICP lithium metaborate fusion method. All values greater than 0.1% tungsten are subsequently analysed by the fusion XRF method.

Kerr Anderson PhD EurGeol PGeo, Managing Director of Ormonde Mining plc, and a qualified person as defined in the Guidance Note for Mining, Oil and Gas Companies, March 2006, 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/invest/glossary.html.

Enquiries to:

Ormonde Mining plc

Kerr Anderson, Managing Director,

Fraser Gardiner, 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 / IEX Adviser)

Fergal Meegan Tel: +353 (0)1 6796363

Brewin Dolphin (UK Adviser)

Alexander Dewar Tel: +44 (0)131 529 0276

ENDS

About Tungsten

Tungsten is most frequently used as tungsten monocarbide, which has a hardness close to diamond, in cemented carbides. The principal tungsten applications include its use in cutting steels and in tungsten alloys, electronics, and chemical products.

Prices of tungsten concentrates are expected to remain buoyant for the long term, and are currently quoted by the Metal Bulletin in the range $160-$180 per metric tonne unit. A metric tonne unit is equal to 10kg of WO3, which equates to 1.0% contained WO3 in the rock. More information can be found on Ormonde's tungsten information page at http://www.ormondemining.com/about-tungsten/index.html. 

About Ormonde

Ormonde Mining plc is quoted on the AIM in London and the IEX in Dublin. Ormonde is a mineral development and exploration company focused on Spain, with the objective of developing mining projects and taking them into production.

For more information please visit www.ormondemining.com.