17 July 2024
Ormonde Mining
plc
("Ormonde" or the "Company")
Investee
Company Update: TRU Precious Metals
TRU
announces start of copper exploration programme at Golden Rose,
Newfoundland
Ormonde Mining plc
(AQSE: ORM), a natural resources company with
investment exposure to exploration assets including gold and copper
in Newfoundland and nickel in Scotland, notes the following update
announced on 16 July 2024 by its 36.2%-owned investee company, TRU
Precious Metals Corp. (TSXV: TRU, OTCQB: TRUIF) ("TRU"), which is
exploring for gold and copper in the highly prospective Central
Newfoundland Gold Belt in Canada.
TRU announced its copper-focused exploration programme at its Golden Rose
Project ("Golden Rose") in Western-Central Newfoundland is now
underway. As
TRU announced on 18 April 2024,
exploration will be focused on the critical minerals associated
with the deposit-bearing Cape Ray - Valentine Lake Shear Zone, with
the view to developing a deeper understanding of the overall
critical minerals potential at Golden Rose, and ideally to
identifying drill targets for such minerals.
While special emphasis is on copper
exploration ("Cu"), the programme will also investigate other
critical minerals occurrences hosting nickel ("Ni") and zinc
("Zn"), which have been identified in previous exploration
activities carried out by TRU.
Exploration work will include
prospecting, grab (rock) sampling, reconnaissance soil sampling and
trenching over interpreted critical minerals anomalies determined
through previous work by TRU, historical data compilation,
and recently acquired high
resolution satellite and remote sensing data over the entire
property. Many of the planned target areas have had limited
exploration to date as Golden Rose is a historically underexplored
asset.
Target areas for the exploration
programme will include locations for which exploration in 2021-2023
identified critical mineral anomalies in soils, rock samples and
drill core. These areas include: Jacob's Pond (up to 3.42% Cu),
Jacob's Twin (up to 11.0% Cu), Jacob's West (up to 1,094 ppm Cu in
soils), Glenn's Prospect (up to 7.6% Cu), King George IV (up to
0.66% Cu and 1.33% Zn) and Bear Pond (up to 409 ppm Ni). The
exploration programme will also test a number of new opportunity
areas which have been identified.
TRU's announcement can be found at
the following link:
https://www.trupreciousmetals.com/news-page/tru-commences-copper-exploration-program-at-golden-rose
Brian Timmons, Executive Chair of Ormonde,
commented:
"We are delighted to report that TRU has today commenced its
copper-focused exploration programme at Golden Rose, seeking to
build up a pipeline of critical mineral targets in addition to the
drill-ready gold targets already identified. We continue to believe
that the multi-mineral resource focus at Golden Rose will make it
even more attractive for M&A in the future and we look forward
to updating shareholders as the programme progresses, and once the
field data acquired this summer has been fully analysed and
evaluated."
Enquiries:
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Ormonde Mining plc
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Brian Timmons, Chairman
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Tel: +353
(0)1 801 4184
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Vigo
Consulting (Investor
Relations)
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Ben Simons / Fiona
Hetherington
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Tel: +44
(0)20 7390 0230
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Peterhouse Capital (Aquis
Corporate Adviser)
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Tel: +44
(0)20 7469 0930
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About Ormonde Mining
Ormonde is a natural resource
company which provides its shareholders with exposure to quality
and diverse assets across a range of strategic minerals. Ormonde's
portfolio includes an initial 36.2% interest in TRU Precious Metals
(TSXV: TRU), which is exploring for gold and copper in the highly
prospective Central Newfoundland Gold Belt in Canada, and a 20%
interest in Peak Nickel Limited, which is advancing exploration on
a potentially significant nickel project in Scotland.
Ormonde's shares are listed on the
Aquis Stock Exchange Growth Market under the symbol AQSE:
ORM.
For more information, visit the
Company's website at www.ormondemining.com.
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The Directors of the Company are
responsible for the release of this announcement.