Drilling Update

RNS Number : 9314I

Ormonde Mining PLC

23 June 2011

 

23 June 2011

Ormonde Mining plc

("Ormonde" or "the Company")

Barruecopardo Drilling Results and Permitting Progress

The Board of Ormonde is pleased to report further on-going results from its infill drilling programme and update on the permitting process at its flagship Tungsten project at Barruecopardo.

Main Points

·     Results form the latest holes include:

BAR-62      13 metres grading 0.55% WO₃

BAR-63       7 metres grading 0.64% WO₃

BAR-64      11 metres grading 0.20% WO₃

·     Drilling continues to demonstrate overall continuity of the mineralisation.

·     Responses received from the regulatory authorities in Castilla y Leon to the initial permitting submissions made in January (the "Documento Inicial").  No unexpected matters have been raised.

Kerr Anderson, Ormonde's Managing Director, said:

"These further drilling results continue to confirm the main tungsten zones in the southern portion of the deposit.  We are also pleased with the prompt responses received from the regional and provincial regulating authorities and are following up over the summer on their requests for information required to be included in the Project Environmental Impact Assessment.

In the tungsten market, the fundamental supply issues continue with current European APT prices of US$460-485 per metric tonne unit compared to US$245 in September last year when we reported the results of the Scott Wilson Mining Study".

Permitting

A formal response to the initial permitting submission to the regulatory authorities in Castilla y Leon has been received within the statutory timeframe.  No unexpected matters were raised in the responses from the various government departments and NGO's.  These responses will provide valuable guidance as studies required for the development of the final Project Environmental Impact Assessment continue over the summer.

Further Drilling Results

Hole	From (m)	Width (m)	True Width (m)	WO3%
BAR-62	103	13.0	8.7	0.55
BAR-63	167	16.0	10.6	0.18
and	201	5.0	3.4	0.36
and	254	7.0	4.7	0.64
BAR-64	103	11.0	7.4	0.20

Notes to table:

Sampling, Assaying and Quality Control Measures

All core has been routinely logged by an experienced geologist.  Relevant core intervals were split in half by diamond saw, with half being sent for assay and the other half being retained in the core boxes for reference.  Sampling is carried out over one metre intervals.

Sample preparation and analyses were performed at ALS Chemex (Spain). Assays are reported using the fusion XRF method.  Reference samples (blanks, duplicates and certified standards) are routinely included in each sample batch as quality control measures.  In addition check assays are performed on selected mineralised samples.

Kerr Anderson PhD EurGeolPGeo, Managing Director of Ormonde Mining plc, and a qualified person as defined in the Guidance 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.

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.

Enquiries to:

Ormonde Mining plc

Kerr Anderson, Managing Director  Tel: [phone]

Bankside Consultants

Simon Rothschild  Tel: [phone]   Mob: [phone]

Davy (Nomad / ESM Adviser)

Eugenée Mulhern / Roland French  Tel: [phone]

Fairfax I.S. PLC (Joint Broker)

Ewan Leggat / Katy Birkin  Tel: [phone]

ENDS

About Ormonde

Ormonde Mining Plc is quoted on the AIM in London & the ESM in Dublin. Ormonde is a mineral development and exploration company focused on Spain (Ticker ORM).

Ormonde's key activities include:

The Barruecopardo Tungsten Project - Ormonde is developing a low cost mining operation at Barruecopardo to initially produce ~8% of non-Chinese global mine production from late 2012; to become a major long-life mine.

The La Zarza Copper-Gold Project - Joint Venture with Antofagasta Minerals - a large "massive sulphide" deposit with significant copper, gold and zinc resources; exploration for an enlargement to the copper resource is being funded by Antofagasta.

Gold Explorationin several highly prospective areas of western Spain.

 

END

 

 

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