Business
Salamanca Gold Project Update
Salamanca Gold Project Update.
About this update from Ormonde Mining Plc
[{"type":"text","content":"\n Ormonde Mining PLC\n26 January 2006\n\n\n Ormonde Mining plc\n\n New Gold Zone at Salamanca\n\n\nDUBLIN & LONDON: 26 January 2006 - Ormonde Mining plc (\"Ormonde\" or \"the \nCompany\") reports positive exploration results obtained from the Salamanca Gold \nProject in western Spain, where it is earning a 90 per cent interest. The \nresults confirm Salamanca as a highly prospective, multi-target gold play. \nOrmonde plans to advance the project through further exploration including \ndrilling.\n\n\nHIGHLIGHTS\n\n • Results from a soil sampling survey highlight a large and coherent zone of\n gold anomalism, measuring 1.5 kilometres in length and up to 200 metres\n wide, possibly representing a new bulk tonnage target in the area.\n\n • Rock samples taken across the survey area from both newly recognised zones\n and known tungsten-gold occurrences, have returned a number of high-grade\n gold results including 51.4, 36.6 and 27.3 grams per tonne gold (\"g/t Au\").\n\n • Prospecting work has highlighted several additional areas of interest,\n with one in particular returning sample grades including 56.2, 51.5, 29.9,\n 23.1 and 21.3 g/t Au over a wide area, suggesting that gold mineralization\n may be significantly more extensive than indicated by work of previous\n operators.\n\n\nKerr Anderson, Managing Director, said today,\n\n\"We are very pleased with the results so far from Salamanca, and the emergence\nof new zones with discovery potential combined with the evaluation of known but\nunder-explored tungsten-gold prospects, gives us a very positive outlook for\nthis year's drilling programmes. Salamanca is a rapidly progressing project,\ndemonstrating that in addition to La Zarza we have several projects in Spain\nwhich could add substantial value for shareholders.\"\n\n\nSOIL SAMPLING\n\nIn areas where bedrock is not exposed at the surface, systematic soil sampling\ngives an indication of underlying gold enriched zones. Ormonde and its JV\npartners have sampled an area of 14 square kilometres, which covers several\ntungsten-gold occurrences and is also considered to be highly prospective for\nfurther, hitherto unrecognized gold mineralization.\n\nSampling was carried out on a 200 by 50 metre grid. Interpretation of the\nsample results has produced an extensive and coherent gold anomaly (greater than\n75 parts per bil...