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