Ormonde Mining plc’s investee in Canada has begun an analysis of the Golden Rose gold-copper project in the central Newfoundland gold belt.
FUNDING
Funded by 80% earn-in partner Eldorado Gold Corp, the detailed review will include assessment and verification of existing data before being infilled and updated.
Project owner TRU Precious Metals Corp will begin on the northeast ‘exploration fairway’ between Marks’ Pond and the Rich House zone.
Completion is expects by early 2025 followed by drilling.
Ormonde holds 36.3% in TRU.
“The financial backing of Eldorado has enabled the TRU team to adopt a more strategic approach and optimise the discovery process at Golden Rose,” said Ormonde chief executive Brendan McMorrow.
“An updated model of mineralisation across the entire property will support TRU in unlocking the value of Golden Rose in a targeted and cost-effective manner.”