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

TRU Precious MetalsAnnouncement

17/07/2024 08:15

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RNS Number : 6648W  Ormonde Mining PLC  17 July 2024

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 (https://ormondemining.com/) (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
(https://www.trupreciousmetals.com/news-page/tru-plans-critical-minerals-summer-exploration-program-at-golden-rose-project)
, 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
(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:

 

 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)
                                                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 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
(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/)

X: https://x.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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