Golden Rose is a regional-scale 273.5 km2 land package, of which 240.25km2 is fully owned by TRU, with the additional 33.25 km2 held under an option to acquire a 65% interest.
This coherent land package straddles a 45km strike length along the deposit-bearing Cape Ray-Valentine Lake shear zone and is located between Marathon Gold’s Valentine Gold Project (4 million oz in Measured + Indicated Resources) and Matador Mining’s Cape Ray Gold Project (0.6 million oz in Indicated + Inferred Resources – exploration continuing).
Following recent significant discoveries, Newfoundland has become one of the world’s most attractive gold exploration regions. The prospective geology combined with ease of access, a supportive local government and moderate weather combine to give Newfoundland a top 10 global ranking for mining investment attractiveness by the Fraser Institute.
Ormonde believes Golden Rose represents an exceptional gold exploration asset with the potential to contain one or more world-class gold resources. Within the TRU landholding, various mineralisation styles have already been recognised, including a structural domain potentially similar to the Curraghinalt gold deposit in Northern Ireland (6 million oz).
With the help of Ormonde, TRU is fast-tracking the advancement of Golden Rose, as well as the evaluation of other mineral property transaction opportunities.
Ormonde interest: 36.2%
Project(s): Golden Rose Project, Newfoundland
Metal(s): Gold, Copper