Ormonde Mining plc’s investee plans copper-focused exploration during the summer at the Golden Rose project in western-central Newfoundland.
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TRU Precious Metals Corp’s assessment in the Cape Ray – Valentine Lake shear zone will also investigate other minerals occurrences hosting nickel and zinc.
The programme will include prospecting, grab (rock) sampling, reconnaissance soil sampling and trenching over interpreted critical minerals anomalies, historical data compilation, and recently acquired high resolution satellite and remote sensing data over the property.
Ormonde, which holds a 36.2% stake in TRU, said that many of the planned target areas had undergone limited exploration to date.
Exploration from 2021 to 2023 identified copper, gold, silver, zinc and nickel anomalies at numerous locations including Jacob’s Pond, Jacob’s Twin, Jacob’s West, Glenn’s prospect, The King George IV Lake area and Bear Pond.
TRU will fund the 2024 work and has also scoped a drill campaign for its gold prospects across Golden Rose.
Ormonde executive chairman Brian Timmons added that TRU’s multi-mineral resource focus would make Golden Rose even more attractive for mergers and acquisitions in the future.
“We look forward to TRU’s forthcoming critical metals focused field season at Golden Rose.
“It is also pleasing to see that TRU retains a strong cash position of approximately C$2.3 million and continues to prudently manage its cash outflows in challenging economic conditions for junior explorers.”
Ormonde also holds a 20% interest in Peak Nickel Ltd, exploring in Scotland.