14th Aug 2019 14:27
(Alliance News) - Conroy Gold & Natural Resources PLC on Wednesday said assay results from two drill holes have identified a new gold zone at the Slieve Glah exploration property located in Ireland.
The gold exploration and development company said the discovery of gold in both drill holes - locatged in the Longford-Down Massif geological region - together with extensive sulphide mineralisation proves the presence of the mineralising system, which provides a solid starting point for further exploration.
Conroy explained that information from this recent work will help focus on locations where the mineralising system could be higher grade for the ongoing work programme of the company.
"This new discovery, at a time when the gold price is touching USD1500, is a wonderful result for an early drill hole in this target area and confirms the encouraging results that were observed in the gold-in-soil and deep-overburden sampling and drilling elsewhere on the Slieve Glah target and the overall potential of the Longford-Down Massif," said Chair Richard Conroy.
The stock was trading 13% lower on Wednesday in London at 4.55 pence a share.
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