24th Aug 2015 09:00
LONDON (Alliance News) - Irish miner Connemara Mining Co PLC Monday said it has completed the second phase of exploration work on the Inishowen area of Donegal in Ireland, which has identified the area where the company will focus in the next exploration programme.
The second phase involved a coil sampling programme over a 700 square metre area which was considered to contain most of the high-grade boulders of rock identified in the first phase of exploration work, it said.
"We continue to make progress on this 5 licence block in Donegal. It is very early days in what could be a long exploration programme but the indicators continue to remain positive," said Chairman John Teeling.
The soil samples, which were spaced 20 metres apart, identified grades of up to 0.46 grammes of gold per tonne and has identified an area for trenching which the company will focus on in the next programme.
Trenching is creating a long, narrow hole or corridor to expose a gold vein or ore structure, usually done by blasting out the rock or through digging out the overlying waste above the mineralisation.
"The next stage, the plans for which are being drafted, will involve trenching to identify the nature of the gold bearing ore. Phase 3 will commence later in 2015," added Teeling.
Connemara shares were down 5.7% to 1.65 pence per share on Monday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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