Conroy Diamonds and Gold announced today it has located a gold seam at its exploration site in Co Cavan.
Geological testing has located two prospective gold zones 400 metres apart at its Slieve Glah prospect.
The company's chairman, Professor Richard Conroy said exploration at Slieve Glah is still at a very early stage, but results so far indicate that there is "excellent potential" for another gold discovery.
Previous exploration by Conroy at Slieve Glah outlined anomalous gold in soil over an area covering more than 5 square kilometres.
READ MORE
Sampling at Slieve Glah involved collection of approximately 80 bedrock samples.
To date, only about one-fifth of the original soil anomaly at Slieve Glah has been followed-up with deep overburden sampling.