Ormonde Mining Sees Barruecopardo Feasibility Study Results Late Feb
February 13 2012 - 5:16AM
Dow Jones News
Spain-focused metal explorer Ormonde Mining PLC (ORQ.DB) said
Monday the definitive feasibility study for its Barruecopardo
tungsten project in western Spain is complete and the results will
be ready by late February, allowing the company to progress to
ongoing funding talks.
The study offers a detailed technical, economic and market
assessment of the project for management.
"This will be a key milestone in the company's plans to become a
major European producer of tungsten concentrates," said managing
director Kerr Anderson. "With aggressive drilling programs underway
on our copper and gold assets, I also anticipate being in a
position to report developments on these fronts over the coming
months."
Ormonde said at the La Zarza Copper project in southwest Spain,
the 3,000 meter drilling program, fully funded by joint venture
partner Antofagasta PLC (ANTO.LN), started in January. Several
targets will be tested by drilling, with a priority on those where
the geology is interpreted to be similar to that for the existing
La Zarza deposit.
At its Salamanca & Zamora gold projects, the firm said
drilling is on-going on the El Facho gold structure, where joint
venture partner Aurum Mining PLC (AUR.LN) is focused on testing and
expanding this structure. Core samples from the first holes in the
current drilling program have been forwarded for assay, it
noted.
At 0925 GMT shares flat at 0.1 cents.
-By Iain Packham, Dow Jones Newswires; 44-20-7842-9269;
iain.packham@dowjones.com
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