17th Apr 2018 17:54
LONDON (Alliance News) - Irish gold and zinc explorer Connemara Mining Company PLC said Tuesday that an inferred resource estimate at its Limerick zinc mine graded 5.3 million tonnes at 11.2% zinc and lead combined.
Connemara holds 23.4% of the project in west Ireland. The results yielded 8.6% zinc and 2.6% lead.
The company reported that the deposit was "relatively shallow" with depths ranging from 190 metres to 395 metres.
CEO Patrick Cullen said: "This is a very exciting and important milestone for Connemara and for joint venture partner, Group Eleven. The work underlies Stonepark's status as an advanced project and as a key asset to the Company. This maiden Mineral Resource demonstrates attractive grades but is also significant in terms of tonnage.
"The Stonepark deposit was first discovered in 2007 by Connemara and with Teck and activity has been low in recent years. It has been very encouraging to see the work recommence in earnest with Group Eleven's acquisition of Teck's share. Connemara continue to support the joint venture and look forward to results from the drilling currently underway at Stonepark North."
Shares in Connemara closed up 1.5% at 3.45 pence each Tuesday.
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