Operational Update

RNS Number : 5170W

Ormonde Mining PLC

12 June 2008

 



12 June 2008

Ormonde Mining plc

Operational Update

DUBLIN & LONDON: 12 June 2008 - In addition to the formal business at today's Annual General Meeting, Ormonde Mining plc ("Ormonde" or the "Company") will present an operational update on its La Zarza and Barruecopardo projects, summarised as follows:

La Zarza

A staged approach to the development of the La Zarza Project is being investigated by the Company as the preferred strategy from the two recommended in the Feasibility Study as warranting evaluation to establish their potential to improve project economics. 

The staged approach envisages a gold and copper only project being developed initially (Stage 1) which incorporates a simplified treatment plant, three feed types and two concentrate products.  A second stage incorporating lead and zinc concentrate products might subsequently be brought on line several years into the future.

Efforts on this project are therefore currently focused on Stage 1 of this staged development, and will include an additional drilling program (Q3/Q4 2008) aimed at identifying increased sources of copper / gold feed material.

Barruecopardo

Engineering studies for a proposed mining operation at Barruecopardo are proceeding rapidly following completion of the highly successful exploration drilling programme which will lead to an updated resource statement being issued shortly. These studies include the Stage 2 metallurgical testwork which has yielded very satisfactory results and the Stage 3 testwork to facilitate treatment plant design which has now commenced. A process plant and infrastructure engineering design will thereafter be carried out by an appropriate engineering firm. Mining studies are also underway and will be completed towards the end of Q4 when results of infill drilling programmes are available.

The Company aims to complete the engineering studies by the end of Q4, to facilitate its fast-track target of initial production in late 2009.

Enquiries to:

Ormonde Mining plc

Kerr Anderson, Managing Director

Fraser Gardiner, Director

Tel: [phone]

Bankside Consultants

Simon Rothschild / Louise Mason  Tel: [phone]  Mob: [phone]

Davy (Nomad / IEX Adviser)

Fergal Meegan Tel: [phone]

Brewin Dolphin (UK Adviser)

Gordon Culfeather Tel: [phone]

ENDS

 

END

 

 

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