Ormonde Mining (LON:ORM) has increased the potential for future mining at its flagship Barruecopardo project in Spain.
Two holes were sunk below a portion of the tungsten resource to be mined in an open pit and showed good grades and widths, it said.
This proved that the near surface mineralisation in the northern part of the deposit increased at depth.
Managing director Kerr Anderson told investors: "This clearly demonstrates the potential to expand the mineral resources at Barruecopardo.
"The company plans to focus more fully on such a targeted resource expansion following the commencement of mining activities at Barruecopardo," he added.
One hole hit 17 metres grading 0.30% tungsten trioxide with narrower higher grade intervals below this zone including one metre grading 8.64%.
Another hole, drilled around 50 metres below this one, also showed good intersections of 5 metres grading 0.31% tungsten and four metres grading 1.16%.
Yesterday, the company revealed a major new gold target had been identified at Ormonde Mining's (LON:ORM) joint venture at Zamora in Spain.
The new target, "Manton de Roble", has two main anomalous zones and lies 500 metres to the north of the El Facho prospect, said Aurum Mining, Ormonde’s partner on the project.