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Ormonde hopeful of more Spanish gold

Written by Business World, on 11th Mar 2013. Posted in Ireland

article headlineIrish prospector, Ormonde Mining, this morning said it is hopeful of finding more near-surface gold at its Peralonso permit in western Spain after analysing test results. A total of eight holes have been drilled to test for near-surface extensions to the gold mineralisation which had been identified by the first ever drilling on the permit carried out during 2012. The objective of the drilling was to test for near surface gold mineralisation. On 23 January 2013, Ormonde announced results from the first six holes, which indicated extensions at shallow depths of mineralised structures encountered in the original drilling. Results have now been received for the last two holes (PERDD010 and 011) of this eight hole programme, further confirming the presence of near-surface gold-bearing structures. Several structures are evidenced within a 400m x 400m gold-in-soil anomaly, Ormonde added. Kerr Anderson, Ormonde's managing director, said: "Drilling on the first target to be tested within the Peralonso Permit area has delivered good results and indicates that we are dealing with several near-surface mineralised structures. "Additionally the recent prospecting work carried out approximately 1.2 kilometres east northeast of the drilling area, along the inferred strike extensions, returned very encouraging results. This suggests that the structures identified to date at Peralonso may have significant scale."

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