Ormonde Mining unveils gold results from Cabeza de Caballo

28th Jun 2013 11:43

AIM-listed Ormonde Mining has reported that four diamond holes have been drilled on the Cabeza de Caballo Permit in the Salamanca Province of western Spain, which forms part of its joint venture with Aurum Mining.In a drilling update published on Friday, the company said that the holes had tested for near-surface extensions to the gold mineralisation identified by trenching and soil geochemistry. Due to poor ground conditions resulting in it not being possible to complete trenching required for the additional planned drill holes, the company said that the drilling programme had had to be paused. It said that the trenching had now gone underway as ground conditions had improved, following which the drilling programme could recommence. The best results were returned from hole CABDD002, with an interval of 24 metres grading 0.35 grams per tonne (g/t) gold from surface.Kerr Anderson, Managing Director of Ormonde Mining, commented: "The style of mineralisation evident over wide intervals in the early drilling is encouraging, albeit with lower grades than indicated at surface." He added: "There are several targets to be followed up in this extensive prospect and I look forward to the resumption of testing on some of these following completion of the trenching currently being carried out. Work will also resume at Peralonso as a follow-up to the higher grade gold intersections in the last drilling campaign." Ormonde Mining's share price was unchanged at 4.62p at 09:56 on Friday.MF