Barruecopardo - Granting of Mining Concession

RNS Number : 6225X

Ormonde Mining PLC

21 November 2014

 

21 November 2014

Ormonde Mining plc

("Ormonde" or "the Company")

Barruecopardo - Granting of Mining Concession

The Board of Ormonde is very pleased to announce that the Mining Permit for its flagship Barruecopardo Tungsten Project in Salamanca, Spain ("Barruecopardo" or "the Project") has been granted.

Saloro SLU ("Saloro"), the Company's wholly-owned subsidiary which is developing the Project, has been granted the Mining (or "Exploitation") Concession for Barruecopardo by the Director General for Energy and Mines in the Castilla y Leon Region.  This follows on from the granting of the Environmental Impact Declaration for the Project by the Regional Environmental Department earlier in the year.

The Mining Concession covers an area of around six square kilometres including the Barruecopardo Deposit and any potential strike extensions.  The Mining Concession is granted for an initial period of 30 years and may be renewed for two further periods of 30 years each.

Kerr Anderson, Ormonde's Managing Director, commented:

"The receipt of the Mining Concession for our flagship Barruecopardo Tungsten Project in western Spain is clearly a major milestone for the Project and for Ormonde.  It represents the successful completion of a review and assessment, by the relevant regional bodies, of the detailed proposals and plans developed by Ormonde for a mining operation at Barruecopardo.

We are very appreciative of the support of all levels of the Administration during the entire permitting process and in particular for all the local support maintained throughout, and we look forward to working with all stakeholders to ensure the successful re-activation of mining operations at Barruecopardo."

Kerr Anderson PhD EurGeol PGeo, Managing Director of Ormonde, and a qualified person as defined in the Note for Mining, Oil and Gas Companies, June 2009, of the London Stock Exchange, has reviewed and approved the technical information contained in this announcement.

Enquiries to:

Ormonde Mining plc

Kerr Anderson, Managing Director  Tel: [phone]

Capital M Consultants

Simon Rothschild  Mob: [phone]

Murray Consultants

Mark Brennock  Tel: [phone]  Mob: [phone]

Davy (Nomad / ESM Adviser)

Eugenée Mulhern / Roland French  Tel: [phone]

SP Angel Corporate Finance LLP(Joint Broker)

Ewan Leggat / Katy Birkin  Tel: [phone]

A glossary explaining technical terms contained in this announcement can be found at www.ormondemining.com/en/investors/technical_glossary.

For more information please visit www.ormondemining.com or follow Ormonde on Twitter https://twitter.com/ormondemining or Linkedin http://www.linkedin.com/company/ormonde-mining-plc

ENDS

About Ormonde

Ormonde Mining Plc is admitted to trading on the AIM market in London and the ESM market in Dublin. Ormonde is a mineral development and exploration company focused on Spain (Ticker: ORM).

Ormonde's key activities include:

Barruecopardo Tungsten- Ormonde is developing a low cost mining operation at Barruecopardo to become a major, secure European supply of tungsten. Following the completion of a Definitive Feasibility Study in 2012, the Environmental Permit for the Project was received in early 2014, and the Mining Permit has been granted by the Regional Government in November 2014.  In March 2014, a 5 year offtake agreement was signed with Noble Group,with Noble committing to purchase 100% of the tungsten produced at the Project during its initial five years of operation.

Gold Projects in several highly prospective areas of western Spain which includes its joint venture agreement with Aurum Mining plc (AIM: AUR).

La Zarza Copper - polymetallic massive sulphide deposit in the prolific Iberian Pyrite Belt of southern Spain.

 

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