Connemara Mining Company plc Exploration Update (3628W)
09 February 2017 - 12:05AM
UK Regulatory
TIDMCON
RNS Number : 3628W
Connemara Mining Company plc
08 February 2017
8(th) February 2017
Connemara Mining Company plc ("Connemara" or "the Company")
Exploration Update
The directors of Connemara Mining (AIM: CON) are pleased to
provide an update on exploration activities at our Oldcastle and
Donegal concessions.
Oldcastle
Trace mineralisation has been intersected in the latest drill
hole within the Oldcastle Block located on the Meath/Cavan border.
The Oldcastle block of five licences is being explored by Teck
Ireland Ltd (Teck) under an option agreement with Connemara, where
Teck have now earned into a 65% holding in the block. Results from
TC-1991-003 include 0.3% zinc and 0.09% lead at 725-726m (1m), from
the Top Micrites of the Navan Group. The drill hole helps in
establishing the regional model and in targeting directions for
future drilling. Teck continues to advance the Oldcastle ground as
part of their North Midlands zinc exploration programme where the
target is a Navan style zinc/lead orebody.
Inishowen
Following the successful drilling results at Inishowen last year
the team shifted its focus 8 km north to the historic lead, silver
mine at Glentogher to establish a connection, if any, to the gold
mineralisation. The first level was cleaned out and made safe
before sampling. Work was restricted due to hazardous ground. The
results confirmed the presence of lead, zinc and silver within a 2m
wide bed but no gold values were obtained. The results help in
revising the regional and local structural model before the next
drilling campaign. It is believed the gold veins have been affected
by deformation and faulting which must be understood before further
drilling takes place.
John Teeling, Chairman, commented "We are making progress on
both active exploration programmes.
The Oldcastle project, being funded by Teck, is grass a roots
exploration programme. We are searching for a world-class system
-with the Tara Mines style zinc orebody being the analogue. We have
evidence for favourable stratigraphy, structures, alteration and
trace mineralization in an area that is 20 miles from Navan. The
latest drill hole has traces of lead and zinc, as do the two
previous holes in the area. The results are being built into a
developing model of the area to improve targeting criteria for
potential future drilling.
The gold discovery in Donegal is later stage. We have found gold
bearing veins and good width and grades in one of them. We took a
leap of faith, 8 km away to an old lead/silver mine where the
geology looked the same as that which we drilled. It was expensive
to clean out the old workings but still proved dangerous to sample.
We found lead/zinc and silver grades but no gold. We will now look
at a programme to follow the high grade vein over a shorter
distance."
Connemara is a diversified exploration company with principal
assets in gold, zinc and lead exploration licences in Ireland. The
Company holds interests in 40 licences covering an area of
approximately 1, 350 sq km.
This announcement has been reviewed and approved by Gavin
Berkenheger (CGeol) in his capacity as the Qualified Person for the
purposes of the AIM Guidance Note for Mining, Oil and Gas Companies
issued by the London Stock Exchange.
This announcement contains inside information for the purposes
of Article 7 of Regulation 596/2014.
Enquiries:
Connemara Mining Company
Plc
John Teeling, Chairman +353 (0) 1 833 2833
Jim Finn, Director
Gavin Berkenheger, +44 (0) 784 145
Director 5632
Northland Capital Partners
Limited
William Vandyk/Gerry +44 (0) 203 861
Beaney 6625
John Howes
Dowgate Capital Stockbrokers
Limited
+44 (0) 129 351
Jason Robertson 7744
+44 (0) 207 138
Blytheweigh 3204
+44 (0) 781 692
Tim Blythe 4626
+44 (0) 781 784
Camilla Horsfall 1793
+44 (0) 783 185
Nick Elwes 1855
Rachael Brooks
PSG Plus
Colm Heatley +353 (0) 1 661 4055
Alan Tyrrell +353 (0) 1 661 4055
www.connemaramining.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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