Ormonde Mining plc’s investee company has executed its joint venture agreement, relating to the Staghorn property on the Golden Rose copper-gold project in Newfoundland, Canada.
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TRU Precious Metals Corp originally signed the 51-49% deal in July 2025 with Quadro Resources Ltd.
Staghorn itself represents 11% of the overall Golden Rose acreage.
The two companies will establish a management committee for the property, with TRU acting as operator and both parties funding exploration and other expenses on a pro rata basis.
TRU chief executive officer Steve Nicol, who is also an Ormonde non-executive director said: “Both parties have been advancing exploration activities at Staghorn since the JV became effective in July 2025.
“The TRU exploration team is currently assessing final results still being received from the 2025 field season at Golden Rose and applying these in design of the 2026 field season work programs.”
Ormonde owns 36% of Golden Rose, which is also under an 80% earn-in option with Eldorado Gold Corporation in return for CAD15.25 million cash payments and exploration costs.
“We remain very excited by the potential at Golden Rose, an area of significant interest for gold, “added Ormonde chairman Brian Timmons.
“Both Quadro and TRU are committed to undertaking exploration activities at the Staghorn property and establishing the JVA will ensure this is done in a constructive and collaborative manner.”