19th May 2020 06:54
(Alliance News) - Conroy Gold & Natural Resources PLC on Monday said the interpretation of a ground geophysical survey conducted on the Clontibret gold deposit in Ireland has identified new geological and structural features.
The exploration & development company said the survey was conducted by Golder Associates prior to the outbreak of Covid-19.
The ground geophysical survey totalled 2,000 metres, in four lines, starting in the west of the Clontibret gold deposit. Each line ran for 500 metres, in a north-south orientation with a 50-metre line spacing.
The ground geophysical survey enhanced, in particular, geological interpretations in regard to fold axial traces, lithological contacts and faulting, all of which are important factors in regard to the controls on the high gold grades intersected at Clontibret, Conroy explained.
"The results of the geophysical survey in conjunction with the drilling results post the resource estimate being completed are very encouraging, particularly in relation to tracking the higher gold grades within the Clontibret gold deposit," said Chair Richard Conroy.
The stock closed 14% higher in London on Monday at 12.00 pence a share.
By Evelina Grecenko; [email protected]
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