Connemara Mining Company plc Highlights of the Chairman's Statement from AGM (5206F)
July 28 2016 - 4:56AM
UK Regulatory
TIDMCON
RNS Number : 5206F
Connemara Mining Company plc
28 July 2016
28(th) July 2016
Connemara Mining Company plc ("Connemara")
Highlights of the Chairman's Statement to the AGM of
Connemara Mining Plc held In Dublin at 10am July 28(th) 2016
Ø The gold price at EUR1,300 plus an ounce and a zinc price of
$2,200 plus a tonne have recovered significantly and offer
profitable exploration opportunities.
Ø Connemara holds 32 gold and zinc licences in Ireland and has
expressed interest in additional ground.
Ø The focus of activity is the Inishowen area where a gold
drilling programme has recently concluded. Results of two holes
were reported this week identifying a potential new gold
system.
Ø Results for the remaining two holes will be available within
weeks. It is very early days in the exploration campaign so caution
is advised.
Ø Our second gold focus is the Hendricks joint venture on 5
licences in the Wicklow/Wexford area. We are hopeful that funds are
forthcoming to drill two areas, Knocknaloor and Tombreen, where
earlier drilling discovered high gold grades.
Ø The rising zinc price should encourage exploration on our two
zinc joint ventures, Oldcastle in Meath and Stonepark in Limerick
both operated by Teck Resources, a Canadian based mining
multinational. The Irish subsidiary of Teck does not have a
drilling budget for our ground though they are maintaining the
licences in good standing.
Ø We have surrendered three zinc licences in the Tipperary area
while expressing an interest in new ground.
All resolutions were duly passed at the meeting.
This announcement contains inside information for the purposes
of Article 7 of Regulation 596/2014.
Enquiries:
Connemara Mining Company
Plc
John Teeling, Chairman +353 1 833 2833
Jim Finn, Director
Northland Capital Partners
Limited
William Vandyk/Gerry +44 (0) 20 3861
Beaney 6625
John Howes
Dowgate Capital Stockbrokers
Limited
Jason Robertson +44 (0) 1293 517744
+44 (0) 20 7138
Blytheweigh 3204
+44 (0) 7816 924
Tim Blythe 626
+44 (0) 7817 841
Camilla Horsfall 793
+44 (0) 7831 851
Nick Elwes 855
Rachael Brooks
PSG Plus
Colm Heatley +353 1 661 4055
Alan Tyrrell +353 1 661 4055
www.connemaramining.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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