4th Feb 2021 19:18
Conroy Gold & Natural Resources PLC - gold explorer in Ireland and Finland - Finds further gold discoveries on its Glenish gold licence: a large new gold-in-soil anomaly, and a new gold mineralised outcrop indicating an extension of the Glenish Gold target.
"The newly discovered gold-in-soil anomaly lies 2 kilometres northeast of the Glenish gold target and is located at Corlongford on the border between the Glenish gold licence and the Clontibret gold licence. The anomaly covers an area circa 500 metres by 400 metres and is bisected by the Orlock Bridge Fault Zone which is a major control on gold mineralisation in the Longford-Down Massif," company says.
Rock chip sampling in the Glenish Licence area has discovered gold in bedrock in two areas, one within the Glenish gold target and adjacent to a previous gold mineralised zone announced with values up to 0.2 grammes per tonne gold, the other 200 metres to the east of the Glenish gold target suggesting that the Glenish gold target may extend further than previously indicated by gold- in-soil sampling, Conroy adds.
Chair Richard Conroy says: "The continued progress on the company's Glenish licence, including the discovery of a substantial new gold anomaly at Corlongford close to the border with the Clontibret licence, is highly encouraging and gives further credence to the estimates of 8.8 million potential contained ounces gold in the Clontibret-Clay Lake-Glenish gold target areas. This is in addition to the 517,000 ounces gold resource at Clontibret. I am looking forward to accelerated progress in the coming year as part of a joint venture relationship and the company is planning accordingly."
Current stock price: 35.40 pence
Year-to-date change: down 16%
By Paul McGowan; [email protected]
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