19th Feb 2007 07:01
Ormonde Mining PLC19 February 2007 19 February 2007 Ormonde Mining plc La Zarza drilling continues to intersect high-grade gold & silver DUBLIN & LONDON: 19 February 2007 - Ormonde Mining plc ("Ormonde" or "theCompany") reports the latest results from its infill drilling programme at LaZarza. MAIN POINTS • New drilling results, as listed below in the table, comprise significant intersections of the three zones of mineralization being evaluated: Copper Silicatado, Gold Silicatado and Zinc Massive Sulphide • Intersections include high-grade gold intervals of 9.0 metres grading 11.2 grams per tonne ("g/t") gold and 187 g/t silver, and 11.1 metres grading 5.0 g/t gold and 71 g/t silver • Following receipt of the remaining assays, a revised resource estimation will be carried out as part of the Bankable Feasibility Study currently underway on the project Kerr Anderson, Managing Director, said today, "The infill drilling programme continues to return positive assay intersectionsin line with our earlier drilling results and will enable an updated resourceestimation to commence upon receipt of the outstanding assay results. Our final4,000 metre drilling programme, focussed on the zinc-rich massive sulphidedeposit, is due to start shortly." Ormonde recently engaged two leading international engineering firms, AkerKvaerner Engineering Services Ltd, UK and AMC Consultants, to carry out theprocess plant engineering, infrastructure design and the underground miningdesign for the La Zarza Bankable Feasibility Study. DRILLING RESULTS Ormonde's Phase 3 drilling has tested the three zones of mineralization beingevaluated at La Zarza at different parts of the deposit. New results includethe following: Copper intervals: Hole Zone From (m) Width (m) Cu % Zn % Pb % Au g/t Ag g/t ORM-34 CU 323.6 8.4 2.2 1.3 0.4 0.5 23.7 ORM-35 CU 102.0 2.0 2.8 0.7 0.2 0.8 14.0 Gold intervals: Hole Zone From (m) Width (m) Cu % Zn % Pb % Au g/t Ag g/t ORM-38 AU 199.0 5.0 0.7 3.7 2.3 4.5 116.6 ORM-42 AU 135.0 11.1 0.4 1.3 1.4 5.0 70.6 ORM-43 AU 78.0 9.0 0.8 5.2 4.3 11.2 187.0 Zinc intervals: Hole Zone From (m) Width (m) Cu % Zn % Pb % Au g/t Ag g/t ORM-33 ZN 105.0 4.0 0.7 6.3 3.2 1.4 54.0 ORM-38 ZN 206.0 9.0 1.3 5.2 2.2 2.6 94.6 ORM-39 ZN 50.0 10.0 0.5 4.9 1.5 1.1 26.0 ORM-40 ZN 338.9 13.2 0.4 3.4 0.8 0.9 41.3 ZN 363.5 5.6 0.8 4.2 1.3 1.1 41.1 ZN 387.0 9.0 1.1 3.4 0.9 1.2 113.4 Notes: • The drilling reported represents infill drilling, designed to upgrade " Inferred" resources to the "Indicated" category. • Upon receiving the remaining assay results, a new mineral resource estimation will be carried out by AMC Consultants. • Holes ORM-38 and ORM-42 tested a part of the deposit known as "Footwall Silicatado", which is high in gold and silver and had not been drilled in previous campaigns. • A drilling programme is currently being implemented to test deeper parts of the new Zinc Massive Sulphide resource, where existing intersections are widely spaced and further drilling is required to upgrade resources to the " Indicated" category. • All significant drilling results received to-date are reported on Ormonde's website www.ormondemining.com. Kerr Anderson PhD EurGeol PGeo, Managing Director of Ormonde Mining plc, and aqualified person as defined in the Guidance Note for Mining, Oil and GasCompanies, March 2006, of the London Stock Exchange, has reviewed and approvedthe technical information contained in this announcement. A glossary explaining technical terms contained in this announcement can befound at www.ormondemining.com/glossary.htm. Enquiries to: Kerr Anderson, Managing Director, Ormonde Mining plc Tel: +353 (0)46 9073623 Fraser Gardiner, Director, Ormonde Mining plc Tel: +353 (0)86 3931178 Simon Rothschild, Bankside Consultants Tel: +44 (0)20 7367 8871 Mob: +44 (0)7703 167065 About La Zarza The La Zarza Copper-Gold Project comprises a group of Mining Concessionscovering a total of 13 square kilometres in the Iberian Pyrite Belt miningdistrict of southwest Spain, some 50 kilometres north of Huelva and 90kilometres northwest of Seville. In September 2006 Ormonde published a positive pre-feasibility study for theProject, and work towards completion of a Bankable Feasibility Study iscurrently in progress. The Project benefits from existing road, rail, power andwater infrastructure in the immediate proximity, a local skilled workforce andavailable contractors in this historic mining area, and appropriate regulatoryand investment regimes. About Ormonde Ormonde Mining plc is quoted on the AIM in London and the IEX in Dublin. TheCompany's objective is to enhance shareholder value by developing miningprojects in Spain and taking them into production. Ormonde has a strong localSpanish management team, supported by a Board with extensive mine developmentand exploration experience. For more information please visit www.ormondemining.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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