24th Jan 2019 13:44
LONDON (Alliance News) - Connemara Mining Co PLC on Thursday said that drilling at the Stonepark Zinc project in Ireland is continuing on schedule.
The company is currently drilling the fourth hole at the project and expects analysis and interpretation by the end of the first quarter of 2019.
Furthermore, the airborne geophysics survey over the ares is now 81% complete with flying to be completed by March or April, depending on weather. The firm expects data to be available in the second or third quarter of 2019.
Chief Executive Officer Patrick Cullen said: "We are very pleased to provide an update on progress at Stonepark. We look forward to the drilling results, and expect that the incorporation of new Tellus airborne data will lead to the identification of further targets on this highly prospective project."
Connemara owns a 23.4% stake in the Stonepark Zinc project, with its joint venture partner, Group Eleven, owning the remaining 76.6% stake.
Connemara shares were trading down 4.4% at 1.41 pence each.