Business
Drilling Results and Update
Drilling Results and Update.
About this update from Ormonde Mining Plc
[{"type":"text","content":"\n Ormonde Mining PLC\n16 January 2006\n\n Ormonde Mining plc\n\n La Zarza Drilling Results and Update\n\n\nDUBLIN & LONDON: 16 January 2005 - Ormonde Mining plc (\"Ormonde\" or \"the\nCompany\") reports the first set of results received from its Phase Two drilling\nprogramme at the La Zarza Gold-Copper Project in southern Spain, where it is\nearning a 70 per cent interest. Further progress in the metallurgical testwork\nprogramme is also reported.\n\nOrmonde's objective at La Zarza is to establish a mining operation producing\ngold, copper and silver. Results from ongoing drilling, metallurgical testwork\nand resource estimation will be incorporated into a Preliminary Assessment Study\nto be conducted in Q2 2006, leading to a feasibility study later in the year.\n\n\nMAIN POINTS\n\n • Drilling results demonstrate continuity in copper mineralization over\n extensive intervals with an intersection of 47.2 metres grading 2.0 per cent\n copper, including 12.0 metres grading 2.5 per cent copper.\n\n • Gold intersections include 4.0 metres grading 6.2 grams per tonne.\n\n • Further positive results received from metallurgical testwork.\n\n\nKerr Anderson, Managing Director, said today,\n\n\"With the Phase Two drilling programme at the half way stage, we are satisfied\nthat this work, in conjunction with the testwork programme, will enable us to\nmove into a feasibility study this year. This will be a major step in achieving\nour objective of adding significant value for shareholders by developing a gold\nand copper mining operation at La Zarza.\"\n\n\nPHASE TWO DRILLING\n\nResults have been received for holes ORM12 to ORM17, drilled on two profiles in\nthe western section of the La Zarza deposit, with significant intersections as\nfollows:\n\n\n Hole From (m) Width (m) Gold g/t Copper % Silver g/t Gold equiv.\n\n ORM12 295.0 3.0 4.5 1.7 26.3 9.1\n\n ORM14 67.9* 47.2 0.6 2.0 35.6 6.1\n includes 67.9 7.2 0.7 2.4 75.0 7.8\n and 79.0 12.0 0.7 2.5 45.0 7.5\n\n 199.0 5.0 0.6 2.5 29.0 7.2\n\n 219.0 4.0 6.2 0.3 27.0 7.4\n\n ORM15 72.0* 37.0 0.6 1.7 25.7 5.2\n includes 81.0 5.0 0.8 2.1 25.6 6.3\n\n 134.0 24.0 0.4 2.1 24.8 5.9\n\n ORM16 149.0 6.0 4.5 0.4 27.8 6.0\n includes 150.0 2.0 10.2 0.4 26.0 11.6\n\n\nNotes:\n\nAll intersections are hosted by the Silicatado unit, with the exception of ORM16\nwhich occurs within Massive Sulphide...