30 April
2018
Conroy Gold and Natural Resources plc
(“Conroy” or “the Company”)
DISCOVERY OF
FURTHER EXTENSIVE GOLD ZONE - CLONTIBRET DRILLING UPDATE
Conroy Gold and Natural Resources
plc (AIM: CGNR), is pleased to report the discovery of a further
extensive gold zone from the ongoing drilling programme on
the Company’s 100% owned Clontibret gold deposit where a previous
gold zone was discovered 30 metres below an historic antimony mine
(announced 26 February 2018).
The results below are in respect of the 1,000 metre drill
campaign announced by the Company on 12 February 2018. This
drill programme is focused on the Clontibret gold deposit where a
JORC compliant resource of 517,000 ounces of gold has already
been defined on 20% of the Clontibret gold target.
Highlights:
- Drilling completed successfully on a further three holes
designed to test the extent of gold mineralisation to the south of
the historic Tullybuck antimony mine, giving a total of four holes
to date.
- An extensive gold zone 30 metres to the south of the Tullybuck
antimony mine has been identified during drilling.
- High grades include up to 21.6g/t gold and wide intersections
include up to 3.9 metres at 9.2g/t gold.
- Results confirm the drill holes intersected 16 gold lodes.
- Drilling and analysis of the results continue and the Company
will update the market as additional findings are confirmed.
This release has been approved by Kevin McNulty PGeo, who is a
member of the Company's technical staff and holds a BSc/MSc in
Geology and Remote Sensing, in accordance with the guidance note
for Mining, Oil & Gas Companies issued by the London Stock
Exchange in respect of AIM Companies, which outlines standards of
disclosure for mineral projects.
Professor Richard Conroy,
Chairman commented: “I am delighted at these additional
excellent drilling results which include both high grades and wide
intersections.
Our technical work on the deposit had identified the historic
Tullybuck antimony mine area as a key target and these results
confirm the effectiveness of our team’s pre-drilling technical
review.
In the context of the Clontibret deposit where we already have a
JORC compliant resource of 517,000 ounces of gold from just
20% of the gold-in-soil target tested, these further results are
excellent and the confirmation of a further extensive gold zone 30
metres to the south of the historic Tullybuck antimony mine builds
significantly on what we have previously identified. The team
is delighted with this gold zone discovery and what it means for
the Clontibret deposit and our Company as a whole.”
Further news will follow on the current drill programme in the
near term.
Further Information
Drilling highlights include:
CDG-18-04
- 3.9m grading 9.2g/t gold at a
depth of 50.0m (including
1.2m at 21.6g/t gold).
- 0.5m grading 6.3g/t gold at a
depth of 76.9m
- 1.3m grading 1.9g/t gold at a
depth of 91.0m
CDG-18-03
- 4.4m grading 1.4g/t gold at a
depth of 105.6m
- 0.5m grading 1.4g/t gold at a
depth of 35.5m
CDG-18-02
- 1.5m grading 3.1g/t gold at a
depth of 51.0m
- 0.5m grading 8.4g/t gold at a
depth of 21.5m
Drill hole objectives and
outcomes:
The drill holes were designed to test the extent of gold
mineralisation to the south of the antimony mine in which high
grade gold lodes had been indicated by channel samples in the
historic Tullybuck antimony mine and where an extensive gold zone
was discovered 30 metres below the antimony mine (announced
26 February 2018). A further
extensive gold zone to the south of the antimony mine has been
identified which included an intersection of 1.2 metres at 21.6g/t
gold.
The drill holes, totalling 461.8 metres in length,
intersected 16 gold lodes in total.
For further information please contact:
Conroy Gold and
Natural Resources plc |
Tel:
+353-1-479-6180 |
Professor Richard
Conroy, Chairman |
|
Allenby Capital
Limited (Nomad) |
Tel:
+44-20-3328-5656 |
Virginia Bull/Nick
Harriss |
|
Brandon Hill
Capital Limited (Broker) |
Tel:
+44-20-3463-5000 |
Jonathan Evans |
|
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