11th Nov 2008 07:00
11th November 2008
Connemara Mining Company Plc
Significant Additional Zinc and Lead Mineralisation at Stonepark, Limerick
Highlights:
Significant zinc & lead mineralisation in two additional holes at Stonepark in Limerick
The mineralised zone now extends for at least 300 metres
Drilling continues
The Directors of Connemara Mining Company Plc ("Connemara" or "the Company") (AIM:CON.L) are pleased to provide an update on their zinc/lead discovery at Stonepark, part of the Monaster block, County Limerick, Ireland. The property is under option to and being operated by Teck Cominco Ireland, a subsidiary of Teck Cominco Limited who is earning a 75% interest by spending C$3 million over 4 years.
Assays were received for two more holes at Stonepark (holes 2638-16 and 2638-17). Both holes intersected significant sulphide mineralisation and extend the zone of known mineralisation approximately 100 metres to the north and northeast of the discovery hole (Table 1 below). Drilling is ongoing at Stonepark and the ore zone remains open.
Hole 2638-16, located 120 metres northeast of 2638-4, intersected a thick (>50 metres) zone of black matrix breccia containing a number of sphalerite-rich zones.
Hole 2638-17 (angled -85°), located 90 metres north-northwest of hole 2638-4, intersected a 1 metre zone of massive sulphide within a broader zone of black matrix breccia containing 27.69% zinc and 12% lead.
Drilling to date indicates that the Stonepark mineralised zone extends for more than 300 metres in a northwest-southeast direction, remaining open and highly prospective to the north and south.
Table 1: New Assay Results from Stonepark Drilling
|
Hole ID |
From (m) |
To (m) |
Thickness (m) |
Zinc % |
Lead % |
|
2638-16 |
348.25 |
361.9 |
13.65 |
2.23 |
0.12 |
|
including |
|||||
|
2638-16 |
349.05 |
350.5 |
1.45 |
4.35 |
0.24 |
|
2638-16 |
354.2 |
357.5 |
3.3 |
4.29 |
0.14 |
|
2638-16 |
360.9 |
361.9 |
1.0 |
4.92 |
0.01 |
|
2638-17 |
327.45 |
328.45 |
1.0 |
27.69 |
12.00 |
Of the thirteen holes completed to date in 2008 at Stonepark, four (holes 7, 8, 16 and 17) have high grade intersections, another three holes have low grade/minor zinc mineralisation (holes 6, 20 and 23), another four holes have well developed black matrix breccia with trace mineralisation (holes 9, 10, 13, and 14) and two holes (11 and 19) are barren. Hole 21 is in progress. Hole 4, reported on in November 2007, was a discovery hole. Table 2 shows resource grade results.
Table 2: Assay Results from Stonepark Drilling
|
Hole ID |
From (m) |
To (m) |
Thickness (m) |
Est. True Thickness (m) |
Zinc % |
Lead % |
|
2638-4 |
372.75 |
374.05 |
1.30 |
1.30 |
6.85 |
0.30 |
|
2638-4 |
374.05 |
376.1 |
2.05 |
2.05 |
0.30 |
|
|
2638-4 |
376.1 |
380.1 |
4.00 |
4.00 |
11.62 |
3.46 |
|
including: |
||||||
|
2638-4 |
378.95 |
380.1 |
1.15 |
1.15 |
28.61 |
4.17 |
|
2638-6 |
460.7 |
461.15 |
0.45 |
0.45 |
2.26 |
1.54 |
|
2638-7 |
394.85 |
410.2 |
15.35 |
14.9 |
3.25 |
0.33 |
|
including: |
||||||
|
2638-7 |
394.85 |
397.7 |
2.85 |
2.8 |
12.18 |
0.75 |
|
2638-8 |
550.1 |
557.45 |
7.35 |
6.5 |
5.02 |
1.17 |
|
including: |
||||||
|
2638-8 |
556.2 |
557.45 |
1.25 |
1.1 |
16.19 |
3.07 |
|
2638-16 |
348.25 |
361.9 |
13.65 |
13.65 |
2.23 |
0.12 |
|
including: |
||||||
|
2638-16 |
349.05 |
350.5 |
1.45 |
1.45 |
4.35 |
0.24 |
|
2638-16 |
354.2 |
357.5 |
3.3 |
3.3 |
4.29 |
0.14 |
|
2638-16 |
360.9 |
361.9 |
1.0 |
1.0 |
4.92 |
0.01 |
|
2638-17 |
327.45 |
328.45 |
1.0 |
0.95 |
27.69 |
12.00 |
Drill testing of a number of new regional targets and IP geophysical surveys are also ongoing on the Monaster licence block to the south, with the aim of finding additional mineralised zones along the prospective Limerick Trend.
John Teeling, Chairman of Connemara Mining, commented:
"Again, I am pleased to report high quality zinc/lead results from two additional holes at our Stonepark discovery. The high grade mineralised zone has now been traced for 300 metres and remains open.
This very early stage exploration has been consistently successful. We know we have found something - the ongoing drilling and assaying are designed to fully define and value what we are dealing with."
This release has been approved by Graham Reid, P. Geo., Director BRG Technical Services, consultants to Connemara. Mr. Reid has 30 years mineral exploration and evaluation experience.
Enquiries:
|
Connemara Mining Company Plc |
|
|
John Teeling, Chairman |
+353 (0)1 833 2833 |
|
Jim Finn, Financial Director |
|
|
Blue Oar Securities Plc |
|
|
John Wakefield |
+44 (0) 117 933 0020 |
|
Simon Moynagh |
|
|
College Hill |
|
|
Paddy Blewer |
+44 (0) 207 457 2020 |
|
Nick Elwes |
www.connemaramining.com
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