Dublin-listed exploration company Ormonde has given a final estimate of mineral resources as its tungsten project in Barruecopardo in Spain.
It said a drilling programme had "substantially increased" the size of the estimate. The figures will be used as the basis for a feasibility study for a mine at the site.
According to the estimate, the project contains 5.47 million tonnes of measured resources.
"The success of the infill drilling programme will enable a significant portion of the mineral resources which will be mined by open pit during the first nine years of operation to be classified in the measured resource category, providing the highest degree of confidence possible under international reporting standards," said managing director Kerr Anderson.
He said that having a significant portion of the resources classified at this level would help the company in talks on funding the project.
Ormonde is hoping to start producing tungsten at the site from mid-2013.
