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Ormonde finds gold at Spanish prospect

Tuesday, October 23 10:43:25

Irish prospector, Ormonde Mining, today said it has found gold at its Cabeza de Caballo Gold Prospect in the Salamanca Province of western Spain.

The prospect is part of its joint venture with Aurum Mining plc from which results of soil sampling on the Pino de Oro permits in the Zamora Province were recently announced.

The Cabeza Prospect is located some 60km southwest of Pino de Oro and some 30km northwest of the Peralonso Prospect, where drilling is currently in progress.

Results have been received from samples collected in four trenches excavated on an extensive gold-in-soil anomaly, which have encountered gold mineralisation over wide zones of good grades. No trenching or drilling has previously been carried out on this area. Applications for further exploration permits in the immediate area have been submitted, Ormonde said.

"These are extremely good results from the first detailed work carried out on the Cabeza Prospect, with significant gold mineralisation being identified over wide zones of good grade. This indicates that we may have identified a new, near surface gold system. We will undertake further trenching to follow up on these first results, with drilling of targets likely to follow. The effectiveness of the soil geochemistry in identifying this mineralised zone has led us to plan a widening of this programme with the objective of defining further such targets on the licence area. In addition, applications have now been submitted for further exploration permits in the immediate area," Kerr Anderson, Ormonde's Managing Director, said.