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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ormonde Mining Plc | AQSE:ORM | Aquis Stock Exchange | Ordinary Share | IE00BF0MZF04 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.16 | 0.10 | 0.20 | 0.16 | 0.12 | 0.16 | 45,000 | 15:29:46 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:1035Z Ormonde Mining PLC 25 July 2002 ORMONDE MINING PLC New drilling results from the Tamlalt Joint Venture in Morocco further confirm depth extension of surface gold mineralization. Ormonde Mining plc ("Ormonde"; ORM) is pleased to announce that gold mineralization has been intersected in the most recent drill holes completed by the Bureau de Recherches et de Participations Minieres ("BRPM") at Jebel Malek on the Tamlalt permits in NE Morocco. Ormonde entered into a joint venture on Tamlalt with the Moroccan State Exploration Company on 23 April 2002. Gold mineralization discovered at Jebel Malek occurs within a series of structurally controlled quartz veins cutting Proterozoic-age felsic volcanics. The drilling at Jebel Malek has been designed to test the depth extension of surface mineralization outcropping in trenches over widths of 12-20 metres, e.g. 15.0m @ 4.0 g/t, 20.0m @ 3.7 g/t and 12.0m @ 6.5 g/t gold. Results from holes JM-9 and 10 can be summarised as follows: Hole No. From (m) Interval (m) Au g/t JM-9 32.0 19.0 2.7 including 36.0 4.0 9.9 71.0 6.0 4.9 JM-10 55.0 16.0 2.5 including 65.0 6.0 4.5 Holes 9 and 10 were drilled east and west respectively of previously reported drill hole JM-1, which returned 8.0m @ 2.7 g/t and 21.0m @ 5.2 g/t gold. This drilling has defined a northerly-dipping mineralized zone with a true thickness of 15-20 metres averaging around 2.5 g/t gold, within which higher grade zones (5-20 g/t) over mineable widths are developed. Other mineralized lenses occur beneath the main zone (e.g. 6.0m grading 4.9 g/t in JM-9). Mineralization is open laterally to the east and west, and down-dip to the north where it is currently known to extend a minimum of 120 metres. Reinterpretation of previous drilling and these recent results have strongly enhanced the economic potential of the Jebel Malek prospect. The next phase of the exploration programme will involve detailed outcrop sampling in profiles to the east of the currently defined mineralization where previous sampling by the BRPM has returned anomalous gold and copper values. This sampling, which should be completed in the next 2-3 months, is designed to trace the surface expression of the mineralization and target further drilling. The excellent working relationship that the Company has developed with the BRPM is bearing fruit elsewhere in Morocco, with discussions being advanced on a second gold project already at the resource stage. In northern Spain, the Company's activities also continue to develop and we are pleased to announce that we are close to agreement on acquiring a key permit contiguous with our existing ground holdings. The Company believes that this permit contains one of the most exciting unexplored gold prospects in northern Spain, which, allied to our existing land position in the region makes Ormonde a substantive player in this area. A map and section of the Tamalt drilling will shortly be available on the Company website at www.ormondemining.com. Enquiries to: Kerr Anderson - Managing Director Ormonde Mining plc Tel: 00 353 46 73623 kanderson@ormondemining.com Colin Andrew - Chairman Ormonde Mining plc Tel: 00 353 46 73623 candrew@ormondemining.com John Carroll - Director Ormonde Mining plc Tel: 00 353 1 492 2936 offacc@iol.ie Eugenee Mulhern Davy Corporate Finance Limited Tel: 00 353 1 679 6363 Ormonde Website: www.ormondemining.com 25 July 2002 This information is provided by RNS The company news service from the London Stock Exchange
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