13 Jan 2011 07:00
13 January 2011
Ormonde Mining plc
("Ormonde" or "the Company")
Application for Mining Concession Submitted for Barruecopardo Tungsten Project
The Board of Ormonde is very pleased to report that its wholly-owned Spanish subsidiary, Saloro SLU ("Saloro"), has submitted the application to the relevant mining authorities for a Mining Concession for the proposed Barruecopardo Tungsten Mine in Salamanca, together with documentation required for the first stage of project permitting ("Documento Inicial").
Kerr Anderson, Ormonde's Managing Director, said:
"The submission of the application for a Mining Concession is a major milestone in our roadmap to tungsten production at Barruecopardo by late 2012. The documentation accompanying the submission outlines the operating and design criteria for the proposed mining operation and we will now liaise closely with both the local administration and competent authorities as the permitting process progresses. We are extremely pleased with the local support received for the project to-date.
On a technical level, our infill drilling programme continues, with results from the initial holes expected in the coming weeks".
The information and results of the study recently completed by Scott Wilson Mining, in addition to data provided from ongoing environmental studies, have been incorporated into the initial permitting documentation required under Spanish Law for the proposed operation at Barruecopardo, termed a "Documento Inicial". This document has been jointly prepared by Spanish consultants SADIM, who have extensive experience in the preparation of similar permitting submissions, and SIEMCALSA, Saloro's joint venture partner (10%) in the project.
Infill drilling is progressing on the southern portion of the deposit, with samples from initial holes forwarded to the laboratory for assay. Assay results will be reported as appropriate as the programme progresses. In addition, the bulk sample for the confirmatory stage of metallurgical testwork to facilitate the design of the "clean-up" circuit configuration for the processing plant has been despatched to the metallurgical laboratory. The results of this testwork will enable the commencement of definitive processing design work.
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.
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.
Enquiries to:
Ormonde Mining plc
Kerr Anderson, Managing 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 / ESM Adviser)
Fergal Meegan/Roland French Tel: +353 (0)1 679 6363
Fairfax I.S. PLC (Joint Broker)
Ewan Leggat/Katy Birkin Tel: +44 (0)207 598 5368
ENDS
About Ormonde
Ormonde Mining Plc is quoted on the AIM in London & the ESM in Dublin. Ormonde is a mineral development and exploration company focused on Spain (Ticker ORM).
Ormonde's key activities include:
The Barruecopardo Tungsten Project - Ormonde is developing a low cost mining operation at Barruecopardo to initially produce ~8% of non-Chinese global mine production from 2012; operations to be expanded post start-up to become a major long-life mine.
The La Zarza Copper-Gold Project - Joint Venture with Antofagasta Minerals - a large "massive sulphide" deposit with significant copper, gold and zinc resources; exploration for an enlargement to the copper resource is being funded by Antofagasta.
Gold Exploration in several highly prospective areas of western Spain.