Connemara Mining Company plc Mine River Exploration Update (4689S)
25 June 2018 - 8:23PM
UK Regulatory
TIDMCON
RNS Number : 4689S
Connemara Mining Company plc
25 June 2018
25(th) June 2018
Connemara Mining Company plc
("Connemara" or the "Company")
Mine River Exploration Update
Connemara Mining Company plc (LON: CON), the Irish gold and zinc
exploration company, is pleased to provide an update for their 100%
owned Mine River Gold Project ("Mine River"). A total of 614 metres
of drilling was undertaken to determine the presence and geometry
of mineralised zones at two target areas along a 15km gold trend
identified by Connemara geologists in counties Wicklow and Wexford,
Ireland.
Highlights:
-- A new mineralised zone over a 50 metre strike length was identified at Tombreen
-- Hole 18-TB-03 returned multiple gold (Au) mineralised
intercepts including: 4m grading at 1.47g/t Au from 30m, 1m grading
at 1.56g/t Au from 78m, 1m grading at 1.23g/t Au from 98m and a
combined zone of 14.5m grading at 0.49g/t Au from 25.5m;
-- Hole 18-TB-04 intercepted 2m grading at 1.99g/t Au from 41m (including 1m at 2.95g/t Au);
Patrick Cullen, Chief Executive Officer of Connemara, commented:
"We have continued from hole 17-TB-01 at Tombreen, announced
earlier, which intercepted 8m at 4.53 g/t gold, including 2m
grading 16.1 g/t and we have identified a new mineralised zone over
a 50m strike length plus a third deeper mineralised zone. We are
moving closer to understanding the geometry of these
structures.
"The next step is to study the drill core and the gold
mineralisation under the microscope and analyse the detailed rock
structures. This work will be key to unlocking the mechanisms
controlling gold mineralisation at Mine River. This should enable
us to better target more high-grade zones."
Further details
Gold at Tombreen is associated with mildly oxidised heavily
folded dark shales containing quartz boudins and minor sulphide.
The quartz boudins, often described as dark quartz or blue quartz
containing significant sulphide at times in the form of pyrite
predominantly, do not always contain gold when analysed. The
presence of gold in and around the volcanic tuffs 17-TB-01 but not
in the same zone when intercepted in 18-TB-03 and 18-TB-04 as well
as the occurrence of gold mineralisation in less remarkable dark
shales confirms that currently there does not appear to be a
clearly defined visual clue as to where the gold is located in the
succession. The identification of a nugget in drill core at
Tombreen and subsequent lower-grade when analysed indicates that a
nugget effect may also be a factor. A review of analysis techniques
will follow with the possibility of reanalysis of certain samples
using different methods.
Necessary petrology work and a detailed interpretation of the
complicated structure observed in the orientated core will
ultimately help in understanding the controlling factors in what
determines the presence of low and high-grade gold. As the results
indicate no definite visual signs of gold in regards to a certain
lithology or alteration style, further sampling and potential
sampling of whole holes will be required to build up a more
accurate picture.
The historic high-grade zone at Knocknalour was not intercepted
at the projected strike. Drilling at the historic locations was not
possible due to access constraints. The limited drilling was not
able to test other potential strike orientations, so the target
still remains open for future discoveries. An igneous intrusion,
which was historically associated with high-grade gold
mineralisation was also not intercepted.
Table A - Tombreen Drill Results
Hole_ID From (m) To (m) Width Au (g/t) Notes
(m)
18-TB-03 30 31 1 3.69
--------- ------- ------ --------- ---------
18-TB-03 33 34 1 2.13
--------- ------- ------ --------- ---------
18-TB-03 30 34 4 1.47 combined
--------- ------- ------ --------- ---------
18-TB-03 25.5 49.5 24 0.34 combined
--------- ------- ------ --------- ---------
18-TB-03 25.5 40 14.5 0.49 combined
--------- ------- ------ --------- ---------
18-TB-03 78 79 1 1.56
--------- ------- ------ --------- ---------
18-TB-03 98 99 1 1.23
--------- ------- ------ --------- ---------
18-TB-04 41 42 1 1.02
--------- ------- ------ --------- ---------
18-TB-04 42 43 1 2.95
--------- ------- ------ --------- ---------
18-TB-04 41 43 2 1.99 combined
--------- ------- ------ --------- ---------
Note: 18-TB-02 abandoned before reaching target depth. Three
holes at
Knocknalour returned no significant gold mineralisation
Mine River Project
The Block currently comprises 9 contiguous Prospecting Licences
with a total area of approximately 377 km(2) , located in the
counties of Wicklow and Wexford located in southeast Ireland. The
area was the focus of the Wicklow Gold Rush of 1795 and gold mining
continued on a small-scale until the mid-1800s.
The Company has identified a 15 kilometre long target by
combining data from geochemical surveys in streams and soils
completed across the Block with results from the airborne
geophysical survey flown by Hendrick Resources in 2012 (and
combined with the Tara Exploration survey of 2000).
Historic drilling and recent drilling by Connemara has proven
gold mineralisation in bedrock. An eight metre intersection from
74m grading at 4.53 g/t gold (Au) at Tombreen (17-TB-01) has
demonstrated substantial mineralised thickness, which includes 2m
from 78m at 16.1 g/t Au. The best reported historical intersection
at Tombreen was 50cm grading at 21.28 g/t Au from 70.7m (2558-3).
Historic geological data indicates significant strata-bound gold
mineralisation is associated with the contacts between Ordovician
volcanic rocks and metasedimentary rocks.
This announcement has been reviewed and approved by Gavin
Berkenheger (CGeol) in his capacity as the Qualified Person for the
purposes of the AIM 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 (EU) 596/2014.
Information for Editors:
Connemara is a diversified exploration company with principal
assets in gold and zinc exploration licences across Ireland.
Connemara currently holds interests in a total of 39 licences,
including joint ventures with Teck at the Oldcastle Zinc Project
and with Group Eleven Resources Corp at the Stonepark Zinc
Project.
Further information can be sourced from the Company website:
www.connemaramc.com
ENDS
Enquiries:
Connemara Mining Company Plc
John Teeling, Chairman +353 (0) 1 833 2833
Patrick Cullen, CEO +353 (0) 87 272 1748
+44 (0) 755 237 8208
Northland Capital Partners
Limited
Matthew Johnson / Edward Hutton +44 (0) 203 861 6625
John Howes
First Equity Limited
Jason Robertson +44 (0) 207 374 2212
Blytheweigh +44 (0) 207 138 3204
Tim Blythe +44 (0) 781 692 4626
Simon Woods +44 (0) 746 643 9633
Teneo PSG
Luke Hogg +353 (0) 1 661 4055
Alan Tyrrell +353 (0) 1 661 4055
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END
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