Business
Tungsten Update
Tungsten Update.
About this update from Ormonde Mining Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 1327C Ormonde Mining PLC 02 March 2011 \n\n02 March 2011\n \nOrmonde Mining plc\n(\"Ormonde\" or \"the Company\")\n \nBarruecopardo Drilling Progress\n \nThe Board of Ormonde is pleased to report the first results from the current infill drilling programme at its flagship Tungsten project in Barruecopardo and progress on the project permitting process.\n \nFifteen holes of the current programme have so far been drilled. Assay results from the initial three holes on the southern extreme of the deposit, where all current resources are in the \"Inferred\" category, have been received and are reported below. \n \nMain Points\n \n· All three holes encountered tungsten mineralisation with expected widths and grades in line with previously reported wider spaced holes in the narrower southern extreme of the deposit where these holes are located.\n· Results include 6 metres grading 0.5% WO3 (tungsten trioxide), 3 metres grading 0.8% WO3 and 2 metres grading 2.0% WO3.\n· A total of fifteen holes have been drilled to-date in this programme and drilling continues. Further assay results from this drilling will be released on a 4-5 week basis over the coming months.\n· Preparation of further documentation in the permitting process is progressing in close liaison with our Spanish consultants. \n \n \nKerr Anderson, Ormonde's Managing Director, said:\n \n\"The drilling is progressing well with these initial results from the narrow southern extent of the deposit in line with our expectations.\nFollowing submission in January of initial permitting documentation and the application for a mining concession, our focus at Barruecopardo in the coming months is on advancing the required technical works and the permitting process for a Mining Concession. I look forward to reporting on-going progress on both fronts. \nTungsten prices have continued to rise due to on-going supply shortages with the European tungsten APT price now quoted as US$368-372 per metric tonne unit (mtu), a rise of almost 50% in the past six months.\"\n \n \nNew Drilling Results\n \n \n\n\n\n\nHole\n\n\nFrom (m)\n\n\nWidth (m)\n\n\nTrue Width (m)\n\n\nWO3%\n\n\n\n\n\n...