Conroy Gold & Natural Resources Plc Result of AGM
09 December 2016 - 10:54PM
UK Regulatory
TIDMCGNR
9 December 2016
Conroy Gold and Natural Resources plc
("Conroy" or "the Company")
RESULT OF ANNUAL GENERAL MEETING
AGM STATEMENT
At today's Annual General Meeting of Conroy Gold and Natural Resources plc
(AIM: CGNR, ESM: CGNR.I), the gold exploration and development company focused
on Ireland and Finland, the Chairman, Professor Richard Conroy, made the
following comments:
"This year has seen further excellent progress for your Company. Excellent
drilling results have been reported for Clontibret together with structural
studies confirming continuity of the gold lodes - an essential step for mine
development. A Scoping Study prepared by independent consultants Tetra Tech
Wardrop has demonstrated that the established JORC compliant resource of over
0.6 million oz Au (Gold), at Clontibret, on 20% of the target area, is
technically and financially viable.
"Additionally the Clontibret gold deposit and the adjacent Clay lake gold
target have now been brought together as a single mining project with a
multi-million ounce gold resource targeted.
"The excellent drilling results at Clontibret included high grade gold and wide
intersections.
These included 2.25m grading 10.47 g/t gold, including 0.50m grading 25.85 g/t
gold and 5.75m grading 5.04 g/t gold together with the discovery of five new
gold zones.
"Gold lode continuity at Clontibret was confirmed by structural studies by
independent geologist Dr Francis Murphy. This new study complemented your
Company's ongoing drilling programme and is a further major step forward with
your Company's plans for development at Clay Lake - Clontibret.
"The Clay Lake target has been shown by gold-in-soil studies to be
approximately 3km in length, up to 2km in width and to have a surface area of
over 200 hectares (c500 acres). The results of structural studies and wide
zones of gold mineralisation by drilling and trenching already reported
indicate the potential for high tonnage and overall gold content at Clay Lake.
"A quantitative risk assessment by consultant geologist Professor Garth Earls,
who has now joined your Company as a director, has established an initial
combined exploration target of five million ounces of gold across the Clay Lake
- Clontibret project.
"We have also continued work at other sites and four new gold zones were
intersected on the Glenish property.
"This year we will continue to develop the mine plan at Clontibret whilst also
increasing the resource."
All resolutions were duly passed.
For further information please contact:
Conroy Gold and Natural Resources plc Tel:
+353-1-661-8958
Professor Richard Conroy, Chairman
Allenby Capital Limited (Nomad) Tel:
+44-20-3328-5656
David Hart/James Thomas/Nick Harriss
Hybridan LLP (Broker) Tel:
+44-20-3764-2341
Claire Louise Noyce/Niall Pearson/William Lynne
IBI Corporate Finance Limited (ESM Adviser) Tel:
+353-766-234-800
Ger Heffernan / Jan Fitzell
Lothbury Financial Services Tel:
+44-20-3290-0707
Michael Padley
Hall Communications Tel:
+353-1-660-9377
Don Hall
Visit the website at: www.conroygold.com
END
(END) Dow Jones Newswires
December 09, 2016 06:54 ET (11:54 GMT)
Conroy Gold & Natural Re... (LSE:CGNR)
Historical Stock Chart
From Apr 2024 to May 2024
Conroy Gold & Natural Re... (LSE:CGNR)
Historical Stock Chart
From May 2023 to May 2024