Connemara Mining has increased the Wicklow gold target strike length with the acquisition of Hendrick Resources (Ireland) Limited.
Connemara said it had acquired 100% control of 12 existing HRI prospecting licences in Ireland for a royalty agreement comprising a 2% net smelter return on future production.
In addition, the five Connemara prospecting licences in joint venture with HRI had been returned to Connemara.
It said that although the primary focus was gold, lithium pegmatite targets were being developed adjacent to the western margin of the block and Connemara was reviewing potential targets within the expanded block.
Chairman John Teeling said: 'We are pleased to acquire HRI, a company created by the late Dale Hendrick, a legendary figure in gold exploration.
'All 17 licences acquired are focused on the gold in the Wicklow/Wexford area.
'The acquisition has increased the strike length of the primary gold target in Wicklow from around 5kms to 15kms.
Connemara has already established drill and trenching targets for late 2017/early 2018 and is planning an expanded programme along the trend.
'Prospecting has identified lithium bearing pegmatites adjacent to the western margin of the block.
'We are excited to be busy in this jurisdiction at this time, as activities on exploration and mining projects are increasing across the island of Ireland.
'Connemara has two other key areas of activity in Ireland including the development of gold targets in the Inishowen block in Donegal and progressing our substantial zinc assets elsewhere in Ireland.'
At 9:59am: (LON:CON) Connemara Mining Company PLC share price was +0.13p at 3.8p