22nd Oct 2018 12:06
LONDON (Alliance News) - Conroy Gold & Natural Resources PLC said Monday it had discovered a new bedrock of gold mineralisation between two of its targets in Ireland.
The gold exploration firm discovered a new gold mineralisation between the Clontibret gold deposit and the Corcaskea gold target in Ireland. The new gold outcrop - uncovered during prospecting at the site - has a grade of 5.6 grammes of gold per tonne.
The new discovery lies north of the Clontibret deposit which already has a defined JORC resource estimate of 517,000 ounces of gold.
The new site also lies to the south of Corcaskea which has yielded "significant" gold intersections, including 16.5 metres at 6.5 grammes of gold per tonne and 12 metres at 4.9 grammes per tonne.
"The discovery is an exciting development and with the possibility of a direct link between the Clontibret gold deposit and the Corcaskea gold target is a further strong indication of the overall gold potential of the 17-kilometre Clontibret-Clay Lake-Glenish gold district," Conroy Gold Chairman Richard Conroy said. "We are working to both increase the overall resource of the licence area and to develop a mine, initially at Clontibret where we have the current defined JORC resource."
Shares in Conroy Gold were flat at 13.50 pence on Monday.
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