Conroy Gold & Natural Resources Plc Clontibret Drilling Update
April 30 2018 - 1:00AM
UK Regulatory
TIDMCGNR
30 April 2018
Conroy Gold and Natural Resources plc
("Conroy" or "the Company")
DISCOVERY OF FURTHER EXTENSIVE GOLD ZONE - CLONTIBRET DRILLING UPDATE
Conroy Gold and Natural Resources plc (AIM: CGNR), is pleased to report the
discovery of a further extensive gold zone from the ongoing drilling programme
on the Company's 100% owned Clontibret gold deposit where a previous gold zone
was discovered 30 metres below an historic antimony mine (announced 26 February
2018).
The results below are in respect of the 1,000 metre drill campaign announced by
the Company on 12 February 2018. This drill programme is focused on the
Clontibret gold deposit where a JORC compliant resource of 517,000 ounces of
gold has already been defined on 20% of the Clontibret gold target.
Highlights:
* Drilling completed successfully on a further three holes designed to test
the extent of gold mineralisation to the south of the historic Tullybuck
antimony mine, giving a total of four holes to date.
* An extensive gold zone 30 metres to the south of the Tullybuck antimony
mine has been identified during drilling.
* High grades include up to 21.6g/t gold and wide intersections include up to
3.9 metres at 9.2g/t gold.
* Results confirm the drill holes intersected 16 gold lodes.
* Drilling and analysis of the results continue and the Company will update
the market as additional findings are confirmed.
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 delighted at these
additional excellent drilling results which include both high grades and wide
intersections.
Our technical work on the deposit had identified the historic Tullybuck
antimony mine area as a key target and these results confirm the effectiveness
of our team's pre-drilling technical review.
In the context of the Clontibret deposit where we already have a JORC compliant
resource of 517,000 ounces of gold from just 20% of the gold-in-soil target
tested, these further results are excellent and the confirmation of a further
extensive gold zone 30 metres to the south of the historic Tullybuck antimony
mine builds significantly on what we have previously identified. The team is
delighted with this gold zone discovery and what it means for the Clontibret
deposit and our Company as a whole."
Further news will follow on the current drill programme in the near term.
Further Information
Drilling highlights include:
CDG-18-04
* 3.9m grading 9.2g/t gold at a depth of 50.0m (including 1.2m at 21.6g/t
gold).
* 0.5m grading 6.3g/t gold at a depth of 76.9m
* 1.3m grading 1.9g/t gold at a depth of 91.0m
CDG-18-03
* 4.4m grading 1.4g/t gold at a depth of 105.6m
* 0.5m grading 1.4g/t gold at a depth of 35.5m
CDG-18-02
* 1.5m grading 3.1g/t gold at a depth of 51.0m
* 0.5m grading 8.4g/t gold at a depth of 21.5m
Drill hole objectives and outcomes:
The drill holes were designed to test the extent of gold mineralisation to the
south of the antimony mine in which high grade gold lodes had been indicated by
channel samples in the historic Tullybuck antimony mine and where an extensive
gold zone was discovered 30 metres below the antimony mine (announced 26
February 2018). A further extensive gold zone to the south of the antimony mine
has been identified which included an intersection of 1.2 metres at 21.6g/t
gold.
The drill holes, totalling 461.8 metres in length, intersected 16 gold lodes in
total.
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
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