Drilling Report

Ormonde Mining PLC 06 December 2007 06 December 2007 Ormonde Mining plc Ormonde intersects 3 metres grading 1.0% Tungsten in the new Filon Principal Zone at Barruecopardo DUBLIN & LONDON: 06 December 2007 - Ormonde Mining plc ("Ormonde" or "the Company") is very pleased to report encouraging high grade results from the first drillhole in the Filon Principal Zone ("FP Zone") at its Barruecopardo Tungsten Project in Salamanca, Spain ("the Project"). The Company also reports two further infill holes from the Filon Maestro Zone ("FM Zone"). Highlights • First hole BAR-20 in the FP Zone intersects 3 metres grading 1.0% WO3 (tungsten trioxide); this occurs within a broader zone of 13 metres at 0.25% WO3 which would have been the mining zone in the previous open pit operation. • The FP Zone is a 700 metre long zone below the historic open pit tungsten mine; BAR-20 was drilled at the southern end of this pit, and indicates that the FP Zone could be prospective as an underground target; further drilling, presently in progress, will determine if this high grade zone extends northwards. • The FP Zone is additional to the FM Zone, which has been the focus of Ormonde's drilling to-date; infill drilling of the FM Zone (BAR-21 and 22) continues to return results in line with expectations. • The Company intends to complete an initial resource estimate and an in-house order-of-magnitude viability study on the Project during the next 2-3 months. Kerr Anderson, Managing Director, said: "This first hole in the FP Zone is a very encouraging development at the Project. It demonstrates the potential for significant widths of high-grade tungsten within this extensive zone which was mined in its upper part by the historic open pit." A table of all significant drilling results reported to-date is provided below and a drawing showing the locations of drillholes and of the zones described below is included in the PDF version of this announcement at www.ormondemining.com/doc/press/pr071206.pdf. The current drilling programme is designed to build up the initial resource base for the Project. Drilling to-date has identified three main tungsten mineralised zones: Filon Maestro Zone Summary: Ormonde's drilling has focused primarily on this high grade tungsten zone to the north of the main historic open pit mine. Its current known limits are 750 metres strike length and over 175 metres depth. Infill and step-out drilling is ongoing. New Results: Results reported today from two new infill holes continue to support previous results, with new intersections of 5 metres grading 0.5% WO3 (BAR-21), 1 metre grading 0.6% WO3 (BAR-22) and 4 metres grading 0.22% WO3 (BAR-22). Filon Principal Zone Summary: Previous mining activity was targeted at this wider, lower grade tungsten zone located beneath the flooded portion of the main pit. A 1985 study reports that this zone was mined over a 700 metres strike length, with an average width of 14 metres (maximum 22 metres) and average grade of 0.23% WO3. Drilling of the FP Zone is underway with a view to identifying higher grade tungsten zones within it. New Results: The first drill hole to test this zone, BAR-20, has intersected 3 metres grading 1.0% WO3. This intersection occurs within a broader zone of 13 metres grading 0.25% WO3, which would have been the mining zone in the previous open pit operation. Filon Central Zone Summary: Tungsten-rich quartz veins occur in the granite rock between the FM and FP Zones. Several intersections can be correlated to define a zone with a strike length of 500 metres, which is being further tested in the current drilling programme. No new results. 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 (Nominated Adviser to Ormonde) Fergal Meegan Tel: + 353 1 679 6363 ENDS Drilling Results FILON MAESTRO ZONE FILON CENTRAL ZONE FILON PRINCIPAL ZONE Hole From (m) Length WO3% From (m) Length WO3% From (m) Length WO3% (m) (m) (m) BAR-01 115.7 1.0 0.5 BAR-02 Hole being deepened BAR-03 101.5 3.4 1.0 including 101.9 1.0 2.4 BAR-04 122.0 0.9 1.6 142.5 0.6 4.5 BAR-05 133.7 1.7 0.4 BAR-06 245.0 1.0 0.7 181.6 1.2 0.6 BAR-07 Intersected intrusion BAR-09 119.0 2.0 2.1 BAR-10 125.0 2.0 1.5 BAR-11 114.0 1.0 0.3 BAR-12 128.0 2.0 1.7 BAR-13 123.0 2.0 2.4 BAR-14 114.0 1.0 0.3 BAR-15 122.0 2.0 0.4 BAR-16 202.0 4.0 0.6 91.0 1.0 1.4 BAR-17 125.0 2.0 0.9 BAR-18 254.0 1.0 0.3 91.0 1.0 0.7 BAR-19 268.0 2.0 0.5 96.0 8.0 0.3 96.0 1.0 1.5 BAR-20 137.0 3.0 1.0 BAR-21 125.0 5.0 0.5 BAR-22 110.0 1.0 0.6 132.0 4.0 0.2 Note: BAR-20, 21 and 22 are new holes reported in this announcement. Results from all other holes have been reported in previous announcements. 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. Ormonde's main projects are the La Zarza Copper-Gold-Zinc Project in southern Spain where a Bankable Feasibility Study is being carried out by leading international engineering firms, and the Barruecopardo high-grade tungsten deposit in the Salamanca area where a continuous programme of in-fill and step-out drilling is now underway with a view to fast-tracking the evaluation of this project. The Company's other current activities include successful gold exploration at the Pino de Oro Prospect (Zamora) and Sierro Prospect (Salamanca). For more information please visit www.ormondemining.com. 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. This information is provided by RNS The company news service from the London Stock Exchange
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