Exploration company Ormonde Mining has released the first official estimates of reserves at its La Zarza project in southern Spain.
The company said total indicated and inferred resources were 6.8 million tonnes, containing 85,000 tonnes of copper, 486,000 ounces of gold an 6.9 million ounces of silver.
Ormonde believes further drilling will 'significantly increase' the gold resource.
Managing director Kerr Anderson said La Zarza had the potential to become a successful mining operation which could produce 65,000 ounces of gold a year.
