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: +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
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCBLGDLLGBGGIB
|