Ormonde Mining reports positive Spanish project results

Ormonde Mining has reported positive results from drilling in Salamanca, Spain on foot of which it plans to expand the project.

Exploration at the Barruecopardo Tungsten Project was conducted to confirm potential for mineral resources to be expanded and extended at depth.

"The excellent drilling results achieved from the recently completed drilling program below the base of the planned open pit are most satisfying, confirming our belief that there is significant potential to substantially extend the mine life at Barruecopardo through the development of a stage two underground mine," managing director Steve Nicol said in an update on Tuesday.

!Works in this regard, including further drilling, will continue during the project construction and initial production periods.”

In February the company reported on an administrative appeal in relation to an element of the compulsory land acquisition process.

It said that while there had been a finding favourable to its position in the process, project timelines “remain likely to be impacted”.

“Following receipt of updated specialist legal advice related to the relevant appeals process and timelines the company is now finalising discussions with its project partner and debt provider on the optimisation of the project delivery schedule with details to be announced in due course,” it said.