Ormonde delivers La Zarza report

Mining company Ormonde has said it has uncovered a large copper-gold-silver resource with the potential to become a successful mining operation at the La Zarza project in the pyrite belt mining district of southern Spain.

"(This resources) could produce circa 65,000 ounces gold equivalent per year," said Ormonde MD Kerr Anderson.

The gold resource at the site is lower due to less continuity of the zone when compared with the previous operator’s interpretation, combined with Ormonde’s use of a conservative estimation method, the company said today, but added that current drilling will significantly increase the gold resource.