11th Nov 2015 11:16
LONDON (Alliance News) - Connemara Mining Co PLC on Wednesday said it has received strong trenching results from the Inishowen gold licences in County Donegal, Ireland.
The channel sampling undertaken at the project found gold grades of up to 7.95 grams per tonne, the company said, with a small vein showing 30.1 grams and another showing 16.85 grams.
The company will now continue mapping and prospecting work on the licences and will expand the soil sampling work to see how far the gold anomaly extends.
It expects the whole programme to start in early 2016.
"This is a very good result. It is rare to find high grade gold. Now we need to find out how big is the area containing the gold. We need more information on the extent of these veins as well as tracing their width. Based on boulders in the area we are confident that at least one vein will swell. The next phase will begin early in 2016," said Chairman John Teeling.
Connemara shares were up 7.4% to 1.45 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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