Ormonde Mining plc’s investee looks to increase its share of the Staghorn property within the Golden Rose copper-gold project in the Central Newfoundland Gold Belt, Canada.
ASSAYS
TRU Precious Metals Corp exercised its initial option to acquire a 51% interest in the Staghorn property, which itself represents around 11% of the overall project.
The Canadian operator has 30 days to provide written notice of its intention to exercise the additional option for a further 14% interest in Staghorn.
The Staghorn licences lie along the gold deposit bearing Cape Ray – Valentine Lake shear zones in Central Newfoundland.
TRU also awaits assay results from the completed 1,988 metres diamond drill programme, funded by third party Eldorado Gold Corp, and focused on a portion of the Mark’s Pond to Rich House “exploration fairway”.
TRU meanwhile plans follow-up focused mapping and ground truthing to refine the geological and structural model and expand drill targets.
Ormonde owns 36.5% of TRU.