Conroy Gold confirms gold mineralisation deposits at Clontibret operation

‘Results indicate potential for high tonnage and overall gold content’ — chairman

Irish explorer Conroy Gold and Natural Resources has confirmed the presence of additional gold mineralisation deposits in Clontibret, Co Monaghan, the company said,

In a statement to the London Stock Exchange on Thursday, the AIM-listed company said that assay results from its fourth drill hole with joint venture partner Demir Export shows that the Clontibret target continues to yield positive results.

Last month, Conroy Gold said that assay results from three drill holes intersected 18 gold zones in total, including four new ones to the northeast of the target. It said that “further continuity to the gold mineralisation in the stockwork was established” in the process.

On Thursday, it said the results from the fourth drill hole “confirm the presence in the stockwork of significant widths of over 30 metres of gold mineralisation with grades of up to 2.3g/t”.

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“In conjunction with those from the first three drill holes previously announced, the results indicate the potential for high tonnage and overall gold content within the stockwork gold zone” company chairman, Richard Conroy said.

The drill programme, which began in May, “has significantly extended the stockwork continuity,” Mr Conroy said, “added new gold lodes and, most importantly, it has further enhanced our understanding of the ore body, which we are confident remains open along strike and at depth”.

Conroy Gold is planning to develop an operational gold mine on the site of the €4.5 million venture.

Ian Curran

Ian Curran is a Business reporter with The Irish Times