12th Jun 2008 07:00
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: +353 (0)46 9073623
Bankside Consultants
Simon Rothschild / Louise Mason Tel: +44 (0)20 7367 8888 Mob: +44 (0)7703 167065
Davy (Nomad / IEX Adviser)
Fergal Meegan Tel: +353 (0)1 6796363
Brewin Dolphin (UK Adviser)
Gordon Culfeather Tel: +44 (0) 141 314 8121
ENDS
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