30th Jan 2024 08:13
(Alliance News) - Conroy Gold & Natural Resources PLC on Monday said that drilling had enhanced its understanding of two of its Irish gold trends, with further exploration planned.
The Ireland and Finland-focused gold exploration and development company said that its licensed areas over the Orlock Bridge and Skullmartin gold trends now cover in excess of 1,000 square kilometres, and geochemical sampling has revealed a series of targets in both.
The programme, intended to determine the presence of mineralisation, involved 14 drill holes for a total of 2,921.4 metres. Scout drilling was carried out alongside the company's joint venture partner Demir Export AS, a Turkish mining company. In September, the pair conducted scout drilling at the Slieve Glah gold target in County Cavan.
At the Corcaskea target in the Orlock region, in which Conroy drilled three holes for a total of 666 metres, scout drilling intersected gold at areas and depths which demonstrate that the resource is "very much open in all directions".
At the Creenkill target in Skullmartin, seven holes were drilled, which Conroy said "added significantly" to their understanding of the target's prospectivity. To date, three distinct occurrences of gold mineralisation have been identified, with assay results of up to 123 grams of gold per tonne of ore. Although the Creenkill target is at an early stage of exploration, results so far have been "particularly exciting", the company said.
Conroy said that both targets require further exploration, which may include both including scout trenching and additional scout drilling.
Commenting on the results, Conroy's Chair Richard Conroy said: "I am very pleased that the joint venture has enabled the company to carry out an extensive scout drilling programme which has added considerably to our knowledge of the geology and mineralisation of the two district scale gold trends which the company has discovered."
Conroy shares closed at 13.60 pence each in London on Monday.
By Hugh Cameron, Alliance News reporter
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