Connemara Mining Company plc Further Drilling at Stonepark Zinc Project (0592F)
24 October 2018 - 11:00PM
UK Regulatory
TIDMCON
RNS Number : 0592F
Connemara Mining Company plc
24 October 2018
24 October 2018
Connemara Mining Company plc
("Connemara" or the "Company")
Further Drilling at Stonepark Zinc Project
Connemara Mining Company plc (LON:CON), the Irish gold and zinc
exploration and development company, is pleased to announce that
further drilling is underway at the Stonepark Zinc Project, located
in Limerick, Ireland, which is being undertaken by our joint
venture partner Group Eleven Resources Corp. ("Group Eleven").
Highlights
- 1,500 to 2,000 metres planned in this phase
- Drill collars are located outside of the established Maiden Mineral Resource Estimate
- Aim is to provide improved geological information prior to expanded 2019 drill program
Patrick Cullen, Chief Executive Officer of Connemara, commented,
"We are very pleased to see the rig turning at Stonepark once
again. We have reviewed the targeting strategies proposed by Group
Eleven and are supportive of their 'Big Think' approach as it
applies to the Limerick Basin.
"Connemara has already contributed to its share of the costs for
the 2018 exploration programme, including ground-based geophysics
at various targets across the block, the earlier drilling on hole
G11-2638-01 which revealed spectacular grades of 32.2% combined
zinc and lead, as well as the budget for this proposed programme.
We are looking forward to progress over the coming months."
Stonepark Zinc Project
The Stonepark Zinc Project is a joint venture between Connemara
(23.44% interest) and Group Eleven (76.56% interest). The NI43-101
independent report on Stonepark has been uploaded to SEDAR by
partner Group Eleven and a copy of this report is available on the
Connemara website.
The report defines a maiden Inferred Mineral Resource at
Stonepark, totalling 5.1 million tonnes at 11.3% zinc and lead
combined (8.7% Zn and 2.6% Pb), occurring at depths from 190m to
395m below surface.
Glencore's nearby Pallas Green deposit contains 44.2 million
tonnes at 8.4% zinc and lead combined (7.2% Zn and 1.2% Pb) in the
Inferred Category (source: Glencore Resources & Reserves, 31
December 2017), occurring at depths from 300m to 1,300m below
surface.
Based on the above disclosures, the Stonepark deposit is
shallower and higher-grade than the Pallas Green deposit.
The most recent drill hole (G11-2638-01, reported 18 June 2018)
intersected 5.40m of 25.0% zinc and 7.2% lead (32.2% Zn+Pb
combined) and 12.2 g/t silver (from a depth of 234.05m with true
width estimated at 4.9m), verifying one of the high-grade zones
within the Stonepark Mineral Resource Estimate.
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.
Further information can be sourced from the Company website:
www.connemaramc.com
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 Ireland Ltd. at the Oldcastle
Zinc Project and with Group Eleven Resources Corp. at the Stonepark
Zinc Project.
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
Isabella Pierre
First Equity Limited
Jason Robertson +44 (0) 207 374 2212
Blytheweigh +44 (0) 207 138 3204
Julia Tilley +44 (0) 781 506 8387
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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