Conroy Gold & Natural Resources Plc - Further intercepts and grades discovered at Clontibret
PR Newswire
London, June 17
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
18 June 2018
Conroy Gold and Natural Resources plc
("Conroy Gold" or "the Company")
FURTHER SIGNIFICANT INTERCEPTS AND GRADES DISCOVERED AT CLONTIBRET GOLD DEPOSIT
Highlights:
- Significant intercepts and grades:
- 3.0m @ 4.8 g/t Au (including 1.0m @ 12.3 g/t Au)
- 2.7m @ 4.2 g/t Au
- Geological interpretation suggests intercepts are part of a well-mineralised gold zone extending for at least 200m and which remains open.
Conroy Gold and Natural Resources plc (AIM: CGNR) the gold exploration and development company focused on Ireland and Finland, is pleased to report further results from its current infill drilling programme on the Company's 100% owned Clontibret gold deposit.
The infill drilling programme has further increased confidence in the Indicated (and Inferred) Resource estimate in two of the main lodes (based on the 2017 resource estimate). These lodes represent approximately 10% of the 2017 resource.
These results relate to drill holes 5 and 6 (totalling 406m) of the 1,000 metre drill campaign announced by the Company on 12 February 2018 (expanded to >1,700 metres, as announced 14 June 2017). This drilling programme is focused on the Clontibret gold deposit in the southwest of the Clay Lake - Clontibret gold target where a JORC compliant resource of 517,000 ounces of gold is defined on 10% of the Clay Lake - Clontibret gold target (announced by the Company on 28 July 2017).
- Significant intercepts and grades:
- 3.0m @ 4.8 g/t Au (including 1.0m @ 12.3 g/t Au)
- 2.7m @ 4.2 g/t Au
- Geological interpretation suggests these intercepts may be part of a well-mineralised gold zone extending for at least 200m and which remains open.
- Other drill hole intersections confirmed the location of lodes as interpreted.
Results are being reported for two drill holes for a total of 406 metres. Due to the 'stacked' nature of the lodes both drill holes were targeted as infill regarding some lodes and as extensions regarding others.
The new intercepts confirm (and will allow refinement of) the 2017 geological model with respect to lode continuity and grade. Only those mineralised intercepts exceeding 2 gram-metres gold have been reported. One drill hole (representing the majority of sub 2 gram-metre gold intercepts) was designed to test lode extensions to depth on a section of known lower grade.
This release has been approved by Kevin McNulty PGeo, who is a member of the Company's technical staff and holds a BSc/MSc in Geology and Remote Sensing, in accordance with the guidance note for Mining, Oil & Gas Companies issued by the London Stock Exchange in respect of AIM Companies, which outlines standards of disclosure for mineral projects.
Professor Richard Conroy, Chairman commented:
"The results confirm the strong nature of the grade and width in the mineralisation in two of the main lodes tested which represent around 10% of the current resource. The ongoing programme has added to our knowledge of the gold distribution within the Clontibret deposit and will help focus future development plans."
For further information please contact:
| Conroy Gold and Natural Resources plc | Tel: +353-1-479-6180 |
| Professor Richard Conroy, Chairman | |
| Allenby Capital Limited(Nomad) | Tel: +44-20-3328-5656 |
| Virginia Bull/Nick Harriss | |
| Brandon Hill Capital Limited (Broker) | Tel: +44-20-3463-5000 |
| Jonathan Evans | |
| Lothbury Financial Services | Tel: +44-20-3290-0707 |
| Michael Padley | |
| Hall Communications | Tel: +353-1-660-9377 |
| Don Hall |
Visit the website at: www.conroygold.com
