Business
Salamanca Update
Salamanca Update.
About this update from Ormonde Mining Plc
[{"type":"text","content":"\n Ormonde Mining PLC\n02 May 2006\n\n Ormonde Mining plc\n\n\n Ormonde Extends New Salamanca Gold Zone to 2.5 Kilometres\n\n\nDUBLIN & LONDON: 02 May 2006 - Ormonde Mining plc (\"Ormonde\" or \"the Company\")\nreports further positive exploration results obtained from the Salamanca Gold\nProject in western Spain, where it is earning a 90 per cent interest. New\nsampling has significantly increased the extent of a gold geochemical anomaly\nreported in January 2006, which the Company believes could represent a large,\nnear-surface bulk-tonnage gold target.\n\n\n\n\nHIGHLIGHTS\n\n\n • The previously reported gold anomaly has been extended by a further 1\n kilometre, giving it a total length of 2.5 kilometres.\n\n\n • The width of the zone increases from around 200 metres to a maximum of 500\n metres.\n\n\n • Of 50 new rock samples collected, 36 (72 per cent) returned grades greater\n than 1 gram per tonne (\"g/t\") gold, with best results of 58.4, 39.9 and 37.4\n g/t gold.\n\n\n\n\nKerr Anderson, Managing Director, said today,\n\n\n\"With this new extension the gold anomaly has got bigger and better and I\nbelieve that we have identified the geochemical footprint of a near-surface bulk\ntonnage gold target. Initial drilling during the summer months will test the\noverall grade across this extensive zone, but at this early stage the size and\ncontinuity of the anomaly are very impressive.\"\n\n\n\"With Salamanca demonstrating very distinct potential, together with La Zarza we\nnow have two very strong projects to take the Company forward.\"\n\n\n\n\nSoil Geochemistry\n\n\nAn information page on the new results, which includes colour plots of the\ngeochemical data, can be downloaded from the Company's website\nwww.ormondemining.com.\n\n\nIn January, Ormonde reported that results from a soil sampling programme had\nproduced an extensive and coherent gold anomaly over a part of its permit area\nwhere no mineralization of any kind has previously been identified. The anomaly\nhas a linear geometry, probably representing a structural trend.\n\n\nNew sampling across the northern extension of the anomaly has shown that the\nzone extends for a further 1 kilometre giving it a total strike length of 2.5\nkilometres, and increases in width to a maximum of 500 metres. The anomaly is\ndefined by samples with grades exceeding 75 parts p...