Ormonde Mining splits Salamanca-Zamora programme

Irish-based Ormonde Mining plc said that following a review of exploration strategy in the Salamanca-Zamora area of Spain, it has decided to advance its exploration programmes by separating the company's ground holdings into gold-tungsten and gold-only prospects and funding them separately.

The company will concentrate its internal exploration resources on the gold-tungsten ground, which includes the Dora, Marta, Can, Saturno and Bollo prospects.

It said these are also regarded as potential peripheral satellites for the nearby Barruecopardo Tungsten Project.

Work programmes were being developed and an exploration programme including drilling would start shortly.

Funding of the gold-only prospects would be via a farm-out joint venture which has been agreed with Aurum Mining.

Ormonde's MD Kerr Anderson said, 'I am pleased that through our own exploration programme and the joint venture agreed with Aurum we can advance the exploration of our highly prospective licences in the Salamanca and Zamora region.

'I look forward to drilling commencing shortly on both the gold and gold-tungsten targets, and to being able to report progress on the development of these exploration programmes.'