11 June 2008
Ormonde Mining plc
Tungsten Testwork Results Highly Encouraging
New High Grade Tungsten Drilling Results
DUBLIN & LONDON: 11 June 2008 - Ormonde Mining plc ("Ormonde" or the
"Company") reports highly encouraging results of the Stage 2
metallurgical testwork at its Barruecopardo Tungsten Project, Spain.
The Company also reports high-grade drilling results showing good
continuity of tungsten mineralisation in an area selected as a
possible initial mining block.
Metallurgical Highlights
* Metallurgical testwork indicates that the liberation
characteristics of the tungsten mineralisation are excellent,
with high recoveries of tungsten to a gravity pre-concentrate
being achieved at coarse crush sizes
* The best result has been achieved from the Filon Principal Zone
where gravity tests yielded a recovery of 88% of contained
tungsten trioxide (WO3) to a pre-concentrate grading 49% WO3
* The Filon Central and Filon Maestro Zones have also provided
extremely good results with recoveries of 71% to 88% being
achieved to a pre-concentrate
* These results lead the Company to believe that high
recoveries will be achieved to a final concentrate in a gravity
processing plant
Drilling Highlights
* Six holes were drilled in the area immediately north of
the historic open pit to better define a possible initial mining
block in the Filon Principal Zone; results show that there is good
continuity in the high grade tungsten zones in this area
* Numerous high grade tungsten intervals are reported with
highlights including 1.0 metre grading 3.0% WO3, 1.0 metre grading
1.8% WO3 and 7 metres grading 0.8% WO3
Kerr Anderson, Managing Director, said:
"The latest testwork results are even better than we had anticipated.
The excellent pre-concentrate grades and recoveries suggest that high
recoveries will be achieved in a process plant when saleable tungsten
concentrates are produced.
The new drilling results are also very positive, demonstrating good
continuity of mineralisation in a possible initial mining block in
the Filon Principal Zone. All drilling results to-date will be
included in the Company's updated resource estimate, which we look
forward to reporting by the end of Q2. The results received from our
evaluation activities continue to support the Company's strategy of
moving to early production and cash flow."
Testwork Details
A second stage of metallurgical testwork was conducted by
metallurgical laboratories Wardell Armstrong International between
February and April 2008. The objectives of the testwork programme
were to:
(1) Determine the optimum size for pre-concentration
(2) Determine the liberation size of the tungsten minerals.
The testwork was completed on a selection of 6 composites: one being
composed of material from the Filon Principal mineralised zone, two
composed of material from the Filon Central Zone, and three from the
Filon Maestro Zone.
The results of this programme, which involved sample preparation,
heavy liquid separation testwork, mineralogical analysis using
QEMSCAN and optical microscopy, and Bond Ball Mill Work index
determinations indicate that for the composites selected:
(1) The mineralogy of the composites is simple
(2) Scheelite was the predominant tungsten mineral in all except
for 2 composites, both from Filon Maestro, where wolframite was
present
(3) Tungsten minerals in all composites would be amenable to
pre-concentration at a crush size of 3mm with potentially very high
weight rejections (>80%) with significant upgrading of tungsten
values
(4) The best result has been achieved from the Filon Principal Zone
where heavy liquid analysis on the -6mm + 0.053mm size range has
yielded a recovery of 88% of contained WO3 to a pre-concentrate
grading 49% WO3
(5) The Filon Central Zone has also provided excellent results with
recoveries of 71% to 88% being achieved to a pre-concentrate grading
between 23% and 29% WO3
(6) Recoveries to the pre-concentrate for the Filon Maestro Zone
are also good, varying between 71% and 86% WO3; pre-concentrate
grades are lower due to the higher content of sulphides in this
mineralisation type.
Drilling Details
The new results from six drill holes, BAR-40 to BAR-45, are tabulated
below. These holes were drilled to collect more detailed drilling
information from the shallow levels of the Filon Principal Zone ("FP
Zone") immediately north of the historic open pit, where a possible
initial mining block has been identified. The results confirm the
continuation of the FP Zone in this area as a series of multiple,
high-grade zones. High grades were also intersected in the Filon
Abilio Zone ("FA Zone"; east of the FP Zone), and in a zone which
occurs between FA and FP, termed here the "FA1 Zone":
+-------------------------------------------------------------+
| Hole | From (m) | Width(m) | True Width (m) | WO3% | Zone |
|--------+----------+----------+----------------+------+------|
| BAR-40 | 89.0 | 1.0 | 0.8 | 0.43 | FP |
|--------+----------+----------+----------------+------+------|
| | 118.0 | 1.0 | 0.8 | 1.83 | FP |
|--------+----------+----------+----------------+------+------|
| | 153.0 | 1.0 | 0.8 | 1.51 | FP |
|--------+----------+----------+----------------+------+------|
| | 162.0 | 1.0 | 0.9 | 0.73 | FP |
|--------+----------+----------+----------------+------+------|
| | 175.0 | 1.0 | 0.9 | 0.61 | FP |
|--------+----------+----------+----------------+------+------|
| | | | | | |
|--------+----------+----------+----------------+------+------|
| BAR-41 | 47.0 | 1.0 | 0.8 | 0.42 | FA |
|--------+----------+----------+----------------+------+------|
| | 61.0 | 1.0 | 0.8 | 1.47 | FA1 |
|--------+----------+----------+----------------+------+------|
| | 101.0 | 1.0 | 0.8 | 1.13 | FP |
|--------+----------+----------+----------------+------+------|
| | 113.0 | 1.0 | 0.8 | 1.55 | FP |
|--------+----------+----------+----------------+------+------|
| | 123.0 | 6.0 | 5.0 | 0.67 | FP |
|--------+----------+----------+----------------+------+------|
| | | | | | |
|--------+----------+----------+----------------+------+------|
| BAR-42 | 66.0 | 1.0 | 0.8 | 2.99 | FA |
|--------+----------+----------+----------------+------+------|
| | 132.0 | 1.0 | 0.8 | 0.87 | FP |
|--------+----------+----------+----------------+------+------|
| | | | | | |
|--------+----------+----------+----------------+------+------|
| BAR-43 | 59.0 | 1.0 | 0.8 | 0.30 | FP |
|--------+----------+----------+----------------+------+------|
| | 72.0 | 1.0 | 0.8 | 0.33 | FP |
|--------+----------+----------+----------------+------+------|
| | 82.0 | 1.0 | 0.8 | 0.68 | FP |
|--------+----------+----------+----------------+------+------|
| | | | | | |
|--------+----------+----------+----------------+------+------|
| BAR-44 | 21.0 | 1.0 | 0.8 | 1.32 | FP |
|--------+----------+----------+----------------+------+------|
| | 70.0 | 5.0 | 4.2 | 0.50 | FP |
|--------+----------+----------+----------------+------+------|
| | 89.0 | 7.0 | 5.9 | 0.80 | FP |
|--------+----------+----------+----------------+------+------|
| | 111.0 | 1.0 | 0.8 | 0.49 | FP |
|--------+----------+----------+----------------+------+------|
| | | | | | |
|--------+----------+----------+----------------+------+------|
| BAR-45 | 12.0 | 1.0 | 0.8 | 0.72 | FA1 |
|--------+----------+----------+----------------+------+------|
| | 37.0 | 1.0 | 0.8 | 1.04 | FP |
|--------+----------+----------+----------------+------+------|
| | 61.0 | 1.0 | 0.8 | 0.51 | FP |
|--------+----------+----------+----------------+------+------|
| | 78.0 | 1.0 | 0.8 | 0.60 | FP |
+-------------------------------------------------------------+
All assays are reported using the ICP lithium metaborate fusion
method. All values greater than 0.1% tungsten are subsequently
analysed by the X-Ray Fluorescence (XRF) method.
Kerr Anderson PhD EurGeol PGeo, Managing Director of Ormonde Mining
plc, and a qualified person as defined in the Guidance Note for
Mining, Oil and Gas Companies, March 2006, of the London Stock
Exchange, has reviewed and approved the technical information
contained in this announcement.
A glossary explaining technical terms contained in this announcement
can be found at www.ormondemining.com/projects/glossary.html.
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
About Tungsten
Tungsten is most frequently used as tungsten monocarbide, which has a
hardness close to diamond, in cemented carbides. The principal
tungsten applications include its use in cutting steels and in
tungsten alloys, electronics, and chemical products.
Prices of tungsten concentrates are expected to remain buoyant for
the long term, and are currently quoted by the Metal Bulletin in the
range $160-$180 per metric tonne unit. A metric tonne unit is equal
to 10kg of WO3, which equates to 1.0% contained WO3 in the rock.
About Ormonde
Ormonde Mining plc is quoted on the AIM in London and the IEX in
Dublin. Ormonde is a mineral development and exploration company
focused on Spain, with the objective of developing mining projects
and taking them into production.
For more information please visit www.ormondemining.com.
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