Airborne VTEM geophysical survey completed over the entire JV permit area and initial interpretation of results provided to the Joint Venture. Detailed gravity survey carried out and interpretation completed.

Modelling and integration of the VTEM and gravity results with a new structural interpretation for La Zarza has identified several priority target areas for drilling.

A programme of some 3,000 metres of drilling has been agreed by the Joint Venture to test all priority targets identified; drilling commencing shortly.

Ormonde's wholly owned Spanish subsidiary Ormonde España SL ("OESL") has submitted final documentation to theprovincial mining authority to enable in due course the transfer of the mining rights from the underlying holder to OESL. Such a transfer will be necessary to facilitate a future re-activation of mining activities at La Zarza.

Kerr Anderson, Ormonde's Managing Director, said: "We are very pleased with progress at La Zarza and the surrounding permit area with both the submission of the relevant documentation to the provincial mining authorities in Huelva for the future re-activation of mining activities, and with an aggressive drilling programme to test targets identified by the extensive geophysical survey programmes. I look forward to reporting results on our endeavours in this very important Spanish copper mining district."

At 9:31am: (LON:ORM) share price was +0.25p at 8p

Story provided by StockMarketWire.com