Ormonde Mining PLC - Investee Company Update: TRU Precious Metals
Announcement provided by
Ormonde Mining PLC · ORM10/09/2025 15:50
10 September 2025
Ormonde Mining plc
("Ormonde" or the "Company")
Investee Company Update: TRU Precious Metals
TRU reports results from 2025 drilling programme intersecting gold-bearing mineralisation in every hole
Ormonde Mining plc (AQSE: ORM), the natural resources company with investment exposure to outstanding gold and also battery metal exploration assets, notes drilling results announced today by its 36.5%-owned investee company TRU Precious Metals Corp. (TSXV: TRU, OTCQB: TRUIF) ("TRU"), which is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt in
The results are from TRU's 2025 diamond drilling programme, consisting of 1,988 metres in a total of four holes on its Golden Rose Project ("Golden Rose"), and confirm the presence of gold-bearing mineralisation in every hole.
A previously unknown broad mineralised sandstone unit was intersected in two of the drill holes over an interpreted minimum strike length of 500m, delivering assay results of up to 1.3g/t of gold. A second previously unknown mineralised zone showed similarities to the aforementioned sandstone unit, which may represent an along strike zone of the same zone.
The full announcement from TRU follows below.
Brian Timmons, Executive Chair of Ormonde, commented:
"We invested in TRU to provide Ormonde's investors with exposure to what we believe could be the next major gold discovery in one of the world's most attractive gold producing regions:
TRU Reports on Results from 2025 Drilling Program Intersecting Gold-Bearing Mineralisation in Every Hole
Highlights
· The investigative, wide-spaced, four-hole, (1,988m) diamond drilling program intersected gold-bearing mineralization in every hole
· A previously unknown broad mineralized sandstone unit was intersected in two of the drill holes (GR 25-03 and GR 25-04) over an interpreted minimum strike length of 500m. Assay results from this mineralized sandstone are:
o 1.0 grams per tonne ("g/t") gold ("Au") over 13.3m including 1.3g/t over 5.3m, within a much wider interval of 0.3g/t over 65.3m in GR 25-03
o 1.0g/t Au over 5.1m within a wider interval of 0.5g/t over 18.2m in GR 25-04
· A second previously unknown mineralized zone displaying similarities to the above- mentioned mineralized sandstone, and which may represent an along strike extension of the same zone, was intersected in drill hole GR 25-02 providing an intercept of 1.0g/t Au over 4.0m
· Indications of continuity of the previously trenched Northcott zone were identified over 240m vertically at depth in drill hole GR 25-01
Reported intervals are length-weighted down-hole. True widths of reported mineralized intervals, as a percentage of down-hole intervals, are estimated to be between 60% and 80%. Sample length varied between 1.5m maximum and 1.0m minimum, except where smaller sample lengths were required for geological reasons. No grade capping applied.
TRU CEO Steve Nicol commented: "I am very pleased to be reporting upon the results achieved in our investigative 2025 drilling program which exceeded expectations with all 4 holes intersecting gold-bearing mineralization. We are very encouraged by the positive first test of the potential vertical continuity of the Northcott mineralization typified by high grades over narrow widths at surface from the 2023 trenching(1), and especially by the discovery of two previously unknown gold mineralized zones, one of which is approximately 1.6 kilometers to the southwest of Mark's Pond with an interpreted strike length in excess of 500m and favourable initial intercepts within broad lower grade envelopes. The significance of these results continues to be assessed together with ongoing results from the mapping and ground truthing programs currently underway across the Golden Rose Project area all feeding into the design of future follow-up drilling programs."
(1) For further information see the Company's news release dated Jan 12, 2023
2025 Drilling Program Results
Details of the 4 completed drill holes comprising the drilling program are as follows
|
Drillhole |
Collar Location |
Drillhole |
||||
|
Number |
Northing |
Easting |
Elevation |
Azimuth |
Dip |
Length |
|
|
(m) |
(m) |
(m) |
(Deg) |
Deg) |
(m) |
|
|
|
|
|
|
|
|
|
GR 25-01 |
5343640 |
453775 |
433 |
315 |
-50 |
620 |
|
GR 25-02 |
5343431 |
453560 |
431 |
315 |
-60 |
638 |
|
GR 25-03 |
5342436 |
452606 |
402 |
315 |
-60 |
356 |
|
GR 25-04 |
5342114 |
452228 |
397 |
313 |
-60 |
374 |
Table 1 - Details of completed drill holes
The following map shows the locations of the 4 drillholes
Figure 1 - Location of 2025 drilling
A full set of the length weighted intercepts received is provided in the following table.
|
Drill Hole |
From |
To |
Interval |
Au Grade |
|
|
(mdh) |
(mdh) |
(m) |
(g/t) |
|
|
|
|
|
|
|
GR 25-04 |
157.3 |
175.5 |
18.2 |
0.5 |
|
incl. |
157.3 |
162.4 |
5.1 |
1.0 |
|
and |
167.5 |
169.1 |
1.6 |
1.7 |
|
|
|
|
|
|
|
GR 25-03 |
123.0 |
124.5 |
1.5 |
2.5 |
|
|
231.0 |
296.3 |
65.3 |
0.3 |
|
incl. |
231.0 |
244.3 |
13.3 |
1.0 |
|
and |
272.0 |
277.0 |
5.0 |
0.7 |
|
and |
296.0 |
296.3 |
0.3 |
2.0 |
|
|
|
|
|
|
|
GR 25-02 |
304.7 |
308.7 |
4.0 |
1.0 |
|
|
|
|
|
|
|
GR 25-01 |
79.7 |
82.7 |
3.0 |
0.5 |
|
|
144.5 |
147.3 |
2.8 |
0.7 |
|
|
366.9 |
367.3 |
0.4 |
2.1 |
|
|
|
|
|
|
Table 2 - Length weighted drill hole intercepts
All drilling was carried out to recover NQ size diamond core.
Table provides down hole lengths. True widths of reported mineralized intervals, as a percentage of down-hole intervals, are estimated to be between 60% and 80%.
There were no known drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data referred to in this news release.
Discussion of Results
Aims of the drilling included:
1. Complying with the contractual drilling expenditure commitments under the Option Agreement between Quadro Resources Ltd. and TRU concerning the Staghorn property in
2. Infilling a 200m gap in past drilling near the historic southwest extent of drilling on the mineralized zone at Mark's Pond
3. Exploring potential for down dip continuity of the mineralized zone at Northcott
4. Exploring the prospectivity of the intervening sequence of lithology between the Mark's Pond and Northcott mineralized zones - a horizontal distance of some 200m.
5. Exploring the prospectivity of a potential repeat of the Mark's Pond zone some 1.6 kilometers ("km") further to the southwest.
The target area for the 2025 drilling program was focused upon a portion of the Mark's Pond to Rich House "exploration fairway." (see the Company's news release dated April 03, 2025) based upon its interpreted prospectivity and the necessity to comply with certain drilling commitments pursuant to the terms of the Option Agreement. The Staghorn licenses comprise part of the exploration fairway and represent approximately 11% of the total Golden Rose licenses area. (see the Company's news releases dated June 16, 2022 and August 18, 2022). Satisfactory completion of the 2025 drill program enabled TRU to exercise its option to acquire a 51% interest in the Staghorn property. (See the Company's news release dated July 10, 2025)
Geological Results (See Figures 2 and 3)
Drillholes GR 25-03 and GR 25-04 were both drilled with the aim of testing a coincident soil and magnetic anomaly located to the southwest of Mark's Pond which is similar to that which vectored to the original Mark's Pond discovery in 2018 (see Quadro Resources Ltd. New Release dated November 06, 2018). GR 25-03 was collared some 1.6km southwest of Mark's Pond, with GR 25- 04 being collard a further 500m to the southwest beyond GR 25-03. Whilst not intersecting mineralization similar to the Mark's Pond mineralization, both drillholes intersected a wide zone of gold-bearing mineralization hosted in a pale green to grey fine grained tuffaceous sandstone unit containing pyrite, arsenopyrite, and galena, which has not been previously encountered at Golden Rose. Both drillholes provided 1.0g/t Au intercepts over widths of 13.3m and 5.1m respectively, each contained within much larger lower grade envelope of 0.3g/t over 65.3m, and 0.5g/t over 18.2m, respectively. Correlation across the two drillholes is positive suggesting a minimum 500m extension of this previously unknown mineralization which is open in all directions.
Drillhole GR 25-01 was targeted to infill a gap of some 200m in historic drilling in the Mark's Pond zone. The hole encountered two intercepts (0.5g/t Au over 3.0 m from 79.7m downhole, and 0.7g/t Au over 2.8m from 144.5m) which are interpreted to indicate the potential for the mineralization at Mark's Pond to continue to the southwest.
GR 25-01 was then extended to provide an initial test of the down dip continuity of the Northcott mineralized zone, as well as a drill test on the intervening lithology. Northcott lies some 200m to the northwest of the Mark's Pond zone and was discovered by TRU in 2023 (see the Company's news release dated January 12, 2023) during surface trenching in the area. Northcott provided several bonanza grade intercepts across approximately 2.0m of quartz veining in the trenching, including considerable visible gold. GR 25-01 is interpreted to have intersected the down dip extension of the Northcott mineralized zone at a vertical depth of some 240m (367m downhole) providing an intercept of 2.1g/t over 0.4m. Whilst not replicating the bonanza grades seen in parts of the trench, this result points to a significant downdip potential for the zone which remains open at depth.
GR 25-02 was designed with similar aims to GR 25-01 and represented a parallel step-out drill hole collared some 300m to the southwest of GR 25-01. While GR 25-02 did not intersect gold grade corresponding to the projected position of either the Mark's Pond or Northcott mineralized zones, it did intercept (1.0g/t Au over 4.0m) hosted in a lithological unit displaying similarities to the sandstone unit hosting the mineralized zone intersected in GR 25-03 and GR 25-04 located approximately a kilometer to the southwest. Additional work is required to understand if the mineralized unit intercepted in GR 25-02 represents an extension of the same zone discovered in GR 25-03 and GR 25-04, or whether it is a similar though parallel additional mineralized zone.
Figure 2 -Main 2025 drilling intercepts obtained and mineralized zones
Figure 3 - 2025 drill program showing scale of drilling area and mineralized zones
TRU geologists and advisors will be assessing all the results achieved in the 2025 drilling program, and their implications for prioritisation of targets for future drill programs.
In parallel, the TRU exploration team remains in the field for the rest of the 2025 field season advancing mapping and ground truthing programs across the entire project area with the objective of further refining the geological and structural site-wide model and adding to the expanding pipeline of quality drill targets.
Quality Assurance - Quality Control ("QA/QC")
During all exploration sampling and analysis works on its Golden Rose Project, TRU maintains a strict quality assurance program, implements a quality control program, and has a sample security procedure in place. These are tailored as necessary to be appropriate to the types of samples being collected.
Samples reported on in this news release comprised half (cut) NQ diamond drill core.
All the NQ core recovered during the 2025 drilling program was delivered on a shift-by-shift basis by the drilling contractor to the core processing area purpose built by TRU onsite at Golden Rose. All core was orientated, photographed, detail logged, and delineated for sampling by TRU geological team. Core was subsequently halved by a diamond-bladed core saw operated by TRU geological team, with one half of the core then being sampled and bagged (in accordance with in-house procedures) for sending to the laboratory for analysis. The remaining half of the core was stored for future reference or use.
Half core samples, each with a unique sample identification, were individually sealed inside tie- locked plastic bags which were packed into rice sacks which were also tie-locked. The rice sacks were packed onto wooden shipping pallets with the pallet load being plastic wrapped ready for dispatch. All this was carried out by TRU geological team at the core processing area under the direct supervision of Joel Cranford, TRU's Qualified Person.
All the above steps, including selection of half core for analysis, were conducted in accordance with TRU in-house written Standard Operating Procedures for Core Handling, Core Photography, Core Logging, Core Cutting, and Core Sampling.
QA/QC samples, including blanks and certified standards were inserted into the sample runs prior to samples being loaded into rice sacks, in accordance with TRU Standard Operating Procedure for QAQC sample selection and insertion. Insertion rates for blanks and certified standards were approximately 5% (each) of all samples submitted for assay. Field duplicates were also used.
The plastic wrapped rice sacks on pallets were loaded onto a contractor flat-tray truck for transport directly from the Golden Rose site to the shipping agent in
Chemical analysis of core samples was carried out at ALS laboratories in
Samples were analyzed using a 4 acid digestion with Inductively Coupled Plasma Mass Spectrometry (ICP MS) finish (25g) for a full suite of elements plus fire assay (30g) with Atomic Absorption Spectrometry (AAS) finish for gold values.
Samples returning assayed values in excess of 10g/t Au were to be re-assayed using fire assay with Gravimetric finish (30g), however, no such samples were encountered.
Re-assaying (by screened fire assay, fire assay with gravimetric finish or other appropriate method) of two samples with logged visible gold is yet to be undertaken.
Data Verification Statement
Prof. G. Earls, EurGeol PGeo, FSEG, an independent Qualified Person under National Instrument 43-101 - Standards of Disclosure in Mineral Projects("NI 43-101Standards")) has independently checked and verified the data disclosed including sampling, analytical, and test data underlying the information or opinions contained in this news release.
Data verification included:
· Review of all Standard Operating Procedures
· Batch checking of analytical data to ensure no input or translation errors
· Check calculation of all intercepts reported
· Visual inspection of all mineralized intercepts recovered during the drilling program.
· Review of logging and photographic databases to confirm validity of intercepts reported
· Detailed review of all QA/QC results
No material flaws were detected during the data verification exercise.
Qualified Person Disclosure
Joel Cranford, P.Geo., Project Geologist for TRU, and a Qualified Person under NI 43-101, has prepared or supervised the preparation of the scientific and technical information contained in this news release and has approved its disclosure.
About TRU Precious Metals Corp.
TRU (TSXV:TRU, FSE:706) is on a mission to build long-term shareholder value through prudent natural resource property development. The company's flagship project is the Golden Rose Project a regional-scale 297.50 km2 land package in Central Western Newfoundland (includes a 33.25 km2 package of claims over which TRU has a 51% interest) which straddles a 45 km strike length along the gold deposit-bearing
TRU is approximately 36%-owned by European strategic investor Ormonde Mining plc (AQSE:ORM).
Enquiries:
Ormonde Mining plc
Brian Timmons, Chairman / Brendan McMorrow, CEO
Tel: +353 1 8014184
Vigo Consulting (Investor Relations)
Ben Simons / Fiona Hetherington
Tel: 44 (0)20 7390 0230
Peterhouse Capital (Aquis Corporate Adviser)
Tel: +44 (0)20 7469 0930
About Ormonde Mining
Ormonde is a natural resources company delivering exposure to outstanding gold and battery metal exploration projects. Ormonde's portfolio comprises:
· An 36.5% interest in TRU Precious Metals (TSXV: TRU), which is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt in
· A 100% interest in two gold exploration licences in the Zamora province in western
· A 18.9% interest in Peak Nickel Limited, which is exploring for battery metals at the Rodburn Project in Aberdeenshire with indications of a significant deposit.
Ormonde's shares are quoted on the Aquis Stock Exchange Growth Market under the symbol AQSE: ORM.
For more information, visit the Company's website at www.ormondemining.com.
The Directors of the Company accept responsibility for the contents of this announcement.
Follow us on social media:
LinkedIn: https://www.linkedin.com/company/ormonde-mining-plc/
X: https://x.com/OrmondeMining
Subscribe to our email alert service to be notified whenever Ormonde releases news:
https://ormondemining.com/news/regulatory-news/#1469694747033-931e13b7-bd9d
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
