2nd Jul 2008 12:15
2nd July 2008
Connemara Mining Company PLC
Highlights of the Chairman's Statement at the AGM
Held in Dublin, July 2nd 2008
The Company has had a very successful year with potentially high value zinc discoveries at Stonepark in Limerick, and in Lough Sheelin, Ireland.
The clear focus of activities is on Stonepark, our joint venture with Teck Cominco, where two rigs are drilling.
Following the excellent results in two holes (TC-2638-4 and TC-2638-7), a third step out hole 100 metres away is completed.
Visual inspection of the core shows good mineralisation.
New holes will now be drilled to test the lateral extension.
The concentration of exploration in the Limerick region by Teck Cominco, Connemara and others, combined with the good drill results being achieved in the area augers well for the discovery of at least one large commercial zinc mine.
The Lough Sheelin drill results, where low grade zinc mineralisation was found in 9 of 11 drill holes, have been analysed and a follow up programme is being planned. The hope is that these results represent a halo around a more substantial orebody.
Connemara holds a significant number of licences in what we believe to be prospective areas close to where there has been a base metal mine.
Other base metal opportunities offered to Connemara in Europe and elsewhere are being systematically examined.
The Company is well funded due to Teck Cominco's funding of all exploration at Limerick. Our cash balance is £550,000.
All resolutions were passed at the meeting.
Enquiries:
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Connemara Mining Company Plc |
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John Teeling, Chairman |
+353 (0)1 833 2833 |
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Jim Finn, Financial Director |
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Blue Oar Securities Plc |
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John Wakefield |
+44 (0) 117 933 0020 |
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Simon Moynagh |
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College Hill |
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Paddy Blewer |
+44 (0) 207 457 2020 |
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Nick Elwes |
www.connemaramining.com
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