18th Jun 2018 14:27
LONDON (Alliance News) - Irish gold and zinc miner Connemara Mining Co PLC said on Tuesday it has completed the drilling of hole G11-2638-01 at the Stonepark Zinc Project.
The hole intersected 5.40 metres of 25% zinc and 7.2% lead and 12.2 grams per tonne of silver, verifying one of the high-grade zones within the Stonepark resource.
Mineralisation has been interpreted to be open eastwards towards Glencore' neighbouring Pallas Green deposit.
The maiden inferred resources at Stonepark totals 5.1 million tonnes at 11.3% zinc and lead, while Glencore's Pallas Green contains 44.2 million tonnes of 7.2% zinc and 1.2% lead in inferred resources.
"We are very pleased with these grades from the first new hole at Stonepark since 2012 and with progress following on from the recent announcement of a maiden Resource. The results underline the high grade nature of the deposit. The decision to drill inclined holes has yielded immediate results by giving better structural information. This has opened the deposit eastwards, presenting opportunity to increase the Resource towards Glencore's Pallas Green deposit," said Chief Executive Officer Patrick Cullen.
Shares in Connemara Mining were down 2.7% at 2.70 pence on Monday.
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