Investee Company Update: TRU Precious Metals

Ormonde Mining PLC

17 July 2024

 

17 July 2024 

Ormonde Mining plc

("Ormonde" or the "Company")

Investee Company Update: TRU Precious Metals

TRU announces start of copper exploration programme at Golden Rose, Newfoundland

Ormonde Mining plc (AQSE: ORM), a natural resources company with investment exposure to exploration assets including gold and copper in Newfoundland and nickel in Scotland, notes the following update announced on 16 July 2024 by its 36.2%-owned investee company, TRU Precious Metals Corp. (TSXV: TRU, OTCQB: TRUIF) ("TRU"), which is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt in Canada.

TRU announced its copper-focused exploration programme at its Golden Rose Project ("Golden Rose") in Western-Central Newfoundland is now underway. As TRU announced on 18 April 2024, exploration will be focused on the critical minerals associated with the deposit-bearing Cape Ray - Valentine Lake Shear Zone, with the view to developing a deeper understanding of the overall critical minerals potential at Golden Rose, and ideally to identifying drill targets for such minerals.

While special emphasis is on copper exploration ("Cu"), the programme will also investigate other critical minerals occurrences hosting nickel ("Ni") and zinc ("Zn"), which have been identified in previous exploration activities carried out by TRU.

Exploration work will include prospecting, grab (rock) sampling, reconnaissance soil sampling and trenching over interpreted critical minerals anomalies determined through previous work by TRU, historical data compilation, and recently acquired high resolution satellite and remote sensing data over the entire property. Many of the planned target areas have had limited exploration to date as Golden Rose is a historically underexplored asset.

Target areas for the exploration programme will include locations for which exploration in 2021-2023 identified critical mineral anomalies in soils, rock samples and drill core. These areas include: Jacob's Pond (up to 3.42% Cu), Jacob's Twin (up to 11.0% Cu), Jacob's West (up to 1,094 ppm Cu in soils), Glenn's Prospect (up to 7.6% Cu), King George IV (up to 0.66% Cu and 1.33% Zn) and Bear Pond (up to 409 ppm Ni). The exploration programme will also test a number of new opportunity areas which have been identified.

TRU's announcement can be found at the following link: https://www.trupreciousmetals.com/news-page/tru-commences-copper-exploration-program-at-golden-rose

Brian Timmons, Executive Chair of Ormonde, commented:

"We are delighted to report that TRU has today commenced its copper-focused exploration programme at Golden Rose, seeking to build up a pipeline of critical mineral targets in addition to the drill-ready gold targets already identified. We continue to believe that the multi-mineral resource focus at Golden Rose will make it even more attractive for M&A in the future and we look forward to updating shareholders as the programme progresses, and once the field data acquired this summer has been fully analysed and evaluated."

Enquiries: 

Ormonde Mining plc
Brian Timmons, Chairman	Tel: [phone]
Vigo Consulting (Investor Relations)
Ben Simons / Fiona Hetherington	Tel: [phone]
Peterhouse Capital (Aquis Corporate Adviser)
	Tel: [phone]

About Ormonde Mining

Ormonde is a natural resource company which provides its shareholders with exposure to quality and diverse assets across a range of strategic minerals. Ormonde's portfolio includes an initial 36.2% interest in TRU Precious Metals (TSXV: TRU), which is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt in Canada, and a 20% interest in Peak Nickel Limited, which is advancing exploration on a potentially significant nickel project in Scotland.

Ormonde's shares are listed on the Aquis Stock Exchange Growth Market under the symbol AQSE: ORM.

For more information, visit the Company's website at www.ormondemining.com. 

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The Directors of the Company are responsible for the release of this announcement.

 

END