Mineral resource estimates optimistic

ORMONDE Mining has reported optimistic levels of mineral resource estimates from its La Zarza Project in the Pyrite Belt mining district in the south of Spain.

Shares in the group rose by 9% from 20 cents to 22 cents following the announcement.

Ormonde has a 70% interest in the project and the estimate is the first to comply with an internationally-recognised reporting standard for underground minerals.