REG - Ormonde Mining PLC - Investee Company Update: TRU Precious Metals

Marathon GoldAnnouncement

05/12/2023 18:00

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RNS Number : 7746V  Ormonde Mining PLC  05 December 2023

5 December 2023

 

Ormonde Mining plc

("Ormonde" or the "Company")

 

Investee Company Update: TRU Precious Metals

 

TRU Announces Further Copper and Gold Assays from Fall 2023 Prospecting at
Golden Rose, Newfoundland, including 7.6% Cu and 3.1 g/t Au

 

Ormonde Mining plc (https://ormondemining.com/) (AQSE: ORM
(https://www.aquis.eu/companies/ORM) ), a natural resources company providing
exposure to quality exploration assets including gold and battery metals, is
pleased to note an announcement today by its 36.2%-owned investee company, TRU
Precious Metals (https://www.trupreciousmetals.com/) (TSXV: TRU) ("TRU"),
which is exploring for gold and copper in the highly prospective Central
Newfoundland Gold Belt in Canada, of significant assay results from its fall
season bedrock sampling programme.

 

TRU announced further gold and copper results from additional prospecting and
bedrock sampling conducted on its Golden Rose Project ("Golden Rose"). The
fall 2023 prospecting and reconnaissance soil sampling programme was focused
on the discovery of new gold and critical minerals targets at Golden Rose and
was guided by recently acquired high resolution satellite and remote sensing
data over the entire property. The additional grab sample results continue to
prove the rich gold and copper endowment along the highly prospective Cape
Ray-Valentine Lake Shear Zones.

 

Highlights from TRU News Release

 

·    Two bedrock samples collected along the southwestern shore of
Victoria Lake, approximately 6 km northeast of the Ryan's Hammer gold
prospect, and along the Valentine Lake Shear Zone returned assay values
between 2.87 and 3.10 grams per tonne (g/t) Au, further confirming the
extensive gold mineralisation present along this important structure which
extends to Marathon Gold's (TSX: MOZ) Valentine Gold Project.

 

·    Follow-up bedrock sampling less than 2 km north-northeast of the
Mark's Pond target along the Cape Ray Shear Zone returned between 0.58% to
7.60% Cu and 0.9 to 5.3 g/t silver (Ag). Based on these additional high-grade
copper results, this area is considered a high priority critical minerals
target for future trenching, channel sampling, and drilling.

 

·    Ground truthing of recently acquired data from high resolution
satellite and remote sensing technology through reconnaissance soil sampling
over select targets has been successful at determining the applicability of
this technology as a regional prospecting tool and resulted in the
identification of new gold and critical minerals targets for follow-up
exploration work in 2024.

 

Brian Timmons, Executive Chair of Ormonde, commented:

 

"We are encouraged by these latest bedrock sample assay results from Golden
Rose. These reinforce our belief in the potential for Newfoundland to emerge
as the next global Tier 1 gold producing region. Through TRU Ormonde has
significant exposure to this opportunity via a project which is bookended by
gold deposits and sits at the centre of geological and M&A action. We look
forward to working with the TRU team to develop an exploration and drilling
programme for summer 2024."

 

A full copy of the TRU New Release is available to view on the TRU website at:
https://www.trupreciousmetals.com/news-page/tru-announces-further-copper-and-gold-assays-from-fall-2023-prospecting-at-golden-rose-including-76-cu-and-31-g/t-au
(https://www.trupreciousmetals.com/news-page/tru-announces-further-copper-and-gold-assays-from-fall-2023-prospecting-at-golden-rose-including-76-cu-and-31-g/t-au)
.

 

Enquiries:

 

 Ormonde Mining plc
 Brian Timmons, Chairman                        Tel: +353 (0)1 801 4184

 Vigo Consulting (Investor Relations)
 Ben Simons / Fiona Hetherington                Tel: +44 (0)20 7390 0230

 Peterhouse Capital (Aquis Corporate Adviser)
 Narisha Ragoonanthun / Brefo Gyasi             Tel: +44 (0)20 7469 0930

 

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 battery
metals project.

 

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
(http://www.ormondemining.com) .

 

Follow us on social media:

 

LinkedIn: https://www.linkedin.com/company/ormonde-mining-plc/
(https://www.linkedin.com/company/ormonde-mining-plc/)

Twitter: https://twitter.com/OrmondeMining (https://twitter.com/OrmondeMining)

 

 Subscribe to our email alert service to be notified whenever Ormonde
releases news:

 

 https://ormondemining.com/news/regulatory-news/#1469694747033-931e13b7-bd9d
(https://ormondemining.com/news/regulatory-news/#1469694747033-931e13b7-bd9d)

 

The Directors of the Company are responsible for the release of this
announcement.

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