Connemara Mining Company plc Focus on Inishowen Gold Prospect (3127D)
April 26 2017 - 1:00AM
UK Regulatory
TIDMCON
RNS Number : 3127D
Connemara Mining Company plc
26 April 2017
26(th) April 2017
Connemara Mining Company plc ("Connemara")
Focus on Inishowen Gold Prospect
The board of Connemara Mining (AIM: CON) is pleased to announce
the award of 6 additional prospecting licences on the Inishowen
Peninsula in Donegal. The new ground covers 229 sq km adjoining the
5 licence block on which Connemara intercepted 4.82 m grading 5.48
g/t gold in 2016. The 11 licences cover the entire Green Bed Member
of the Dalradian geological sequence on the peninsula which is
considered by Connemara geologists to be highly prospective.
Connemara applied for the ground when modelling of the 2016
drilling results indicated that the gold bearing veins may stretch
into the adjoining areas. It is expected that additional drilling
will take place in Q2 2017.
Connemara has relinquished ground in Donegal to focus attention
and resources on Inishowen. The Raphoe block of 10 licences was
explored and while gold traces were discovered in soil and stream
samples the consensus was that the Inishowen block holds greater
potential for a commercial gold discovery.
John Teeling, Chairman, commented "Having analysed and reviewed
the results of our 2016 drilling campaign we decided, as a matter
of urgency, to apply for the ground adjoining our 5 licence block
on the Inishowen Peninsula in county Donegal. We are delighted to
have been awarded 6 additional licences on the peninsula. We
believe that the mineralisation we discovered could extend into the
new ground where historically gold has been noted in several
streams.
Given the potential of the Inishowen block we have surrendered
10 licences in the south of Donegal. The results we obtained on
this block were not of the same order as those found on Inishowen.
We will now focus our efforts on the Inishowen block."
Connemara is a diversified exploration company with principal
assets in gold, zinc and lead exploration licences in Ireland. The
Company holds interests in 35 licences covering an area of
approximately 1, 350 sq km.
This announcement has been reviewed and approved by Gavin
Berkenheger (CGeol) in his capacity as the Qualified Person for the
purposes of the AIM Guidance Note for Mining, Oil and Gas Companies
issued by the London Stock Exchange.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
ENDS
Enquiries:
Connemara Mining Company
Plc
John Teeling, Chairman +353 (0) 1 833 2833
Jim Finn, Director
Gavin Berkenheger, +44 (0) 784 145
Director 5632
Northland Capital Partners
Limited
Matthew Johnson / Gerry +44 (0) 203 861
Beaney 6625
John Howes
Dowgate Capital Stockbrokers
Limited
+44 (0) 203 903
Jason Robertson 7725
+44 (0) 207 138
Blytheweigh 3204
+44 (0) 781 692
Tim Blythe 4626
+44 (0) 781 784
Camilla Horsfall 1793
+44 (0) 783 185
Nick Elwes 1855
+44 (0) 207 138
Kristina Kazerani 3206
Rachael Brooks
Teneo PSG
Ciaran Flynn +353 (0) 1 661 4055
Alan Tyrrell +353 (0) 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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