Conroy Gold & Natural Resources Plc - Clontibret Drilling Results
PR Newswire
London, October 5
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.
6 October 2022
Conroy Gold and Natural Resources plc
("Conroy Gold" or "the Company")
CLONTIBRETDRILLING RESULTS
GOLD ZONE OF OVER 33M INTERSECTED IN STOCKWORK
- 33.2m at 0.8 g/t gold including 8.0m at 1.2 g/t gold
- Grades up to 2.3 g/t gold intersected
- Further continuity of Stockwork gold mineralisation demonstrated
Conroy Gold and Natural Resources plc (AIM: CGNR), the gold exploration and development company focused on Ireland and Finland, is pleased to announce assay results from the fourth drill hole of the eight-hole, c.3,000m, drilling programme on its Clontibret gold deposit in Ireland. A 33.2m gold zone has been intersected within the Stockwork, grading 0.8 g/t gold. The drilling programme is being carried out in conjunction with the Company's joint venture partner, Demir Export A.? ("Demir Export").
Drill hole number 4 reached a targeted down hole depth of 136m, at an inclined angle (-60 Degrees). The drill hole intersected gold mineralisation in the stockwork at a down hole depth of 91.8m (vertical depth of 79m). The gold mineralisation extended to a down hole depth of 125.0m (including 8.0m @ 1.2 g/t Au from 96.0m).
The number 4 drillhole was located 100m up dip from drillhole TW001, one of the drill holes from Demir Export's due diligence drilling as announced on 21 February 2022 which encountered the widest gold intercept yet drilled at Clontibret - 94.5m grading 1.0 g/t Au (including 45m grading 1.5 g/t Au).
The presence in drillhole 4 of a further intersection of wide gold mineralisation in the stockwork, 100m away from the wide gold intersection in TW001, demonstrates the continuity of gold mineralisation in the stockwork in this area.
Further announcements will be made as the drilling programme progresses.
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:
"I am very pleased with these results from drillhole 4. They confirm the presence in the stockwork of significant widths of over 30m of gold mineralisation, together with gold grades of up to 2.3g/t. The earlier results on holes 1-3 showed 18 gold intersections, four new zones to the north-east of the existing Clontibret target, with significant intersections made.
The results from hole 4, in conjunction with those from the first three drillholes, indicate the potential for high tonnage and overall gold content within the stockwork gold zone in addition to the known gold content of the lode zones. The drill programme so far has significantly extended the stockwork continuity, added new gold lodes and, most importantly, it has further enhanced our understanding of the ore body, which we are confident remains open along strike and at depth."
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 |
| Nick Athanas/Nick Harriss | |
First Equity Limited (Broker) Jason Robertson Lothbury Financial Services | Tel: +44-20-7330-1883 Tel: +44-20-3290-0707 |
| Michael Padley | |
Hall Communications | Tel: +353-1-660-9377 |
| Don Hall |
Visit the website at:www.conroygold.com
