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Salamanca and Zamora Gold

Overview

Ormonde considers the Salamanca-Zamora area to be one of the most prospective gold terrains in Spain. The Company’s tenements cover mineral prospects and occurrences with potential for high-grade vein-hosted and large, bulk tonnage low-grade deposits.

Reviews of the project areas carried out by independent consultants CSA Global (UK) Ltd (in 2010), and more recently by consulting geologist Kieran Harrington of Hybreasal Minerals Limited (in 2016) have confirmed the potential of these projects to host significant gold resources. The Harrington review has identified significant new drilling targets and recommended low cost work programs aimed at adding value to the projects.

The gold properties are being explored through a joint venture with Shearwater Group plc.

Project Info

Location: Spain – Castilla y Leon

Ownership: 48%/44%

Metal: Gold

Status: Exploration

Gallery

Location:

Salamanca and Zamora Provinces, Castilla y Leon Region, Western Spain.

Ownership:

Through a joint venture with AIM quoted Shearwater Group plc, Ormonde has a 48% interest in two investigation permits (Peralonso and Cabeza de Caballo) in the Salamanca Province totalling 69 square kilometres, and a 44% interest in two permits in the Zamora Province (Cueva Negra and Antofagasta; termed the “Pino de Oro Gold Project”) totalling some 37 square kilometres.

Investigation permits are issued for an initial period of 3 years, renewable for further periods of 3 years upon submission of work programmes to the Junta de Castilla y Leon.

At Peralonso, an initial diamond drilling program of eleven holes (total of 1,268m) tested a strong gold-in-soil geochemical anomaly. Results included:

PERDD001:

  • 10m @ 3.4g/t Au from 46.9m depth, incl. 1.1m @ 22.7g/t Au, and
  • 15m @ 2.3g/t Au from 109.1m depth, incl. 1.4m @ 21.5g/t Au.

PERDD007:

  • 2m @ 10.2g/t Au from 49.0m depth

At Cabeza de Caballo, initial trenching on an extensive gold-in-soil anomaly (800m of strike at 50 ppb gold) was followed up a limited diamond drilling campaign of four holes totalling 442 metres.

Results from trenching included:

  • 21m @ 3.7 g/t Au from a zone of intense quartz-sulphide veining within altered granites
  • 4m @ 8.2 g/t Au and 1m @ 14.0 g/t Au within a similar mineralised zone some 19m wide.

Results from initial drilling returned a best interval of:

  • CABDD001: 24m @ 0.4 g/t Au from surface

Gold mineralisation at Pino de Oro, Zamora Province, is hosted in steeply-dipping structures characterised by quartz veining, silicification and alteration in granites.

Previous Drilling: In the 1990s drilling was carried by Spanish government agencies which intersected high-grade gold mineralisation. Better intersections included 1.0m grading 65.8 g/t and 10.7m grading 3.7 g/t gold on the El Facho and La Solana structures. Drilling by Ormonde in 2007 confirmed the previous government drilling, with intersections including 1.0m grading 18.9 g/t, 1.0m grading 16.6 g/t and 3.0m grading 4.3 g/t gold.

Drilling by the Joint Venture: Drilling to date by the Joint Venture has been focused on the “El Facho” gold structure, where the Joint Venture has drilled eleven holes for a total of 2,697 metres, bringing total drilling at El Facho to eighteen holes drilled by Ormonde / the Joint Venture for a total of 3,658 metres.

Drilling results include:

  • ORMP-10: 12m @ 3.4 g/t Au from 89m depth
  • ORMP-15: 11m @ 3.6 g/t Au from 109m depth
  • ORMP-1: 23m @ 1.1 g/t Au from 51m depth
  • ORMP-19: 22m @ 1.1 g/t Au from 79m depth
  • ORMP-4: 6m @ 3.7 g/t Au from 40m depth