29th Feb 2016 10:46
LONDON (Alliance News) - Conroy Gold and Natural Resources PLC said Monday that its main focus remains the construction of a mine at Clontibret, Ireland, as it continued further infill drilling during its first half.
The Irish-based gold exploration and developer reported a pretax loss of EUR107,618 for the half year to end-November, narrowed from a pretax loss of EUR150,230 a year before, on lower operating expenses. It did not report revenue in either period.
The company said that infill drilling results at Clontibret during the half year provided evidence of continuity of gold mineralisation, and allowed its existing geological orebody model to be confirmed and the gold mineralisation zone to be extended.
Elsewhere the company said it had seen "highly encouraging results" at its exploration licences, particularly Clay Lake. It also has a new target, an extensive gold-in-soil anomaly near Rockcorry in County Monaghan.
In December, Conroy Gold raised GBP375,000 through a share issue and debt capitalisation.
Shares in Conroy Gold were untraded Monday morning, having last traded at 22.00 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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