Business
Salamanca Drilling Results
Salamanca Drilling Results.
About this update from Ormonde Mining Plc
[{"type":"text","content":"\n Ormonde Mining PLC\n28 February 2007\n\n\n\n\n28 February 2007\n\n Ormonde Mining plc\n\n Ormonde drilling intersects high-grade gold at Salamanca Gold Project\n\n\nDUBLIN & LONDON: 28 February 2007 - Ormonde Mining plc (\"Ormonde\" or \"the\nCompany\") reports that drilling has intersected a high-grade gold structure at\nthe Pino de Oro prospect, part of its Salamanca Gold Project, western Spain.\n\nHighlights\n\n • First Ormonde drill hole intersects 1.0 metre grading 16.6 grams per tonne\n (\"g/t\") gold at 73 metres down-hole depth\n\n • Previous government drilling on this prospect in the '90s intersected gold\n mineralization over 500 metres of strike length, with grades including 66 \n g/t, 15 g/t and 11 g/t gold over 1 to 2 metre intervals\n\n • Additionally, Ormonde drilling in another area, the Can prospect, has\n intersected gold-mineralized quartz veins with up to 8.8 g/t gold. This\n highlights the potential for new gold discoveries in the Project area.\n\n\nKerr Anderson, Managing Director, said today,\n\n\"This is an excellent first result from Pino and is a firm indication of the\npotential for a high-grade gold resource. It gives us confidence in our broader\nstrategy, which is to delineate sufficient total gold resources within the\nSalamanca Project area to support a central processing plant. To develop this\nstrategy we have generated several highly prospective targets to be tested\nduring the next twelve months. This early positive result is very encouraging\nfor us.\"\n\n\nDrilling Results - Pino de Oro Prospect\n\nResults to-date from Ormonde's drilling programme and previous drilling on the\nstructural zone under investigation include:\n\n\nOrmonde drilling\n\n Hole From (m) Width (m) Gold (g/t)\n ORMP-1 73.0 1.0 16.6\n\n\nPrevious drilling\n\n Hole From (m) Width (m) Gold (g/t)\n P14 74.0 1.0 65.8\n P15 132.0 2.0 11.1\n P17 44.0 1.0 14.8\n P20 124.0 1.0 4.3\n\n\nNotes:\n\n • Previous drilling by a Spanish government agency tested the gold\n mineralization on 100 to 150 metre spaced sections, too wide for the\n estimation of JORC-compliant mineral resources. Ormonde's current programme\n is on 50 metre sections to more fully examine continuity and gold grade.\n\n • Gold mineralization has a near vertical orientation, and extends for 500\n metres along strike. The mineralized structure cro...