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").
22 September 2016
Conroy Gold and Natural Resources plc
(“Conroy” or “the Company”)
NEW GOLD ZONES, HIGH GRADE GOLD AND WIDE INTERSECTIONS IN LATEST CLONTIBRET DRILLING RESULTS
- Five New Gold Zones Intersected
- High Grades Include 25.85 g/t gold over 0.50m
- Wide Intersections Include 5.75m grading 5.04 g/t gold
Conroy Gold and Natural Resources plc (AIM: CGNR, ESM: CGNR.I), the gold exploration and development company focused on Ireland and Finland, is pleased to announce the latest results from its drilling programme on the Clontibret gold deposit at the southwestern part of the Company’s Clay Lake - Clontibret gold property.
High grades and wide intersections included 0.50m at 25.85 g/t gold in one of the already known gold zones and 5.75m grading 5.04 g/t gold in one of the newly discovered gold zones.
Five new gold zones (lodes) were discovered during the latest drilling. Gold intersections were also made in four known gold zones in the area, confirming continuity of these lode zones. The deposit remains open to depth and in all directions.
The drilling focused on upgrading, at this stage to a depth of 200m, an area where previous drilling had indicated the potential for significant widths and gold grades. Intercepts drilled included;
- 5.00m grading 2.87 g/t gold (39m depth; New Lode ‘A’)
- 0.45m grading 3.28 g/t gold (70m depth; New Lode ‘C’)
- 5.75m grading 5.04 g/t gold (82m depth; New Lode ‘D’)
- 2.25m grading 10.47 g/t gold (96m depth Known Lode) including
0.50m grading 25.85 g/t gold
- 1.25m grading 3.21 g/t gold (157m depth; Known Lode)
- 1.25m grading 2.40 g/t gold (187m depth; New Lode ‘E’)
(Only intercepts greater than 1 g/t gold over a 1m interval are presented).
This release has been approved by Kevin McNulty PGeo, who is a member of the Company's technical staff who 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 latest excellent drilling results. The discovery of new gold zones, high grades and wide intersections of gold add further support that the Clay Lake – Clontibret Gold property could become a multi-million ounce deposit.”
For further information please contact:
|Conroy Gold and Natural Resources plc||Tel: +353-1-661-8958|
|Professor Richard Conroy, Chairman|
|Allenby Capital Limited (Nomad)||Tel: +44-20-3328-5656|
|David Hart/James Thomas/Nick Harriss|
|Hybridan LLP (Broker)||Tel: +44-20-3764 2341|
|Claire Louise Noyce/Niall Pearson/William Lynne|
|IBI Corporate Finance Limited (ESM Adviser)||Tel: +353-766-234-800|
|Ger Heffernan / Jan Fitzell|
|Lothbury Financial Services||Tel: +44-20-3290-0707|
|Hall Communications||Tel: +353-1-660-9377|
Visit the website at: www.conroygold.com