Search Share Prices
Conroy Gold announces new discovery at Clontibret
Conroy Gold and Natural Resources reported the discovery of a further extensive gold zone from the ongoing drilling programme on its 100% owned Clontibret gold deposit on Monday, where a previous gold zone was discovered 30 metres below an historic antimony mine as announced on 26 February.
The AIM-traded firm said the results were in respect of the 1,000 metre drill campaign it announced on 12 February.
It said the drill programme was focused on the Clontibret gold deposit, where a JORC-compliant resource of 517,000 ounces of gold had already been defined on 20% of the Clontibret gold target.
The board confirmed that drilling was completed successfully on a further three holes designed to test the extent of gold mineralisation to the south of the historic Tullybuck antimony mine, giving a total of four holes to date.
An extensive gold zone 30 metres to the south of the Tullybuck antimony mine was identified during drilling, featuring high grades including up to 21.6g/t gold, and wide intersections including up to 3.9 metres at 9.2g/t gold.
Results confirmed the drill holes intersected 16 gold lodes.
Drilling and analysis of the results was continuing, and the company said it would update the market as additional findings are confirmed.
"I am delighted at these additional excellent drilling results which include both high grades and wide intersections," said chairman Professor Richard Conroy.
"Our technical work on the deposit had identified the historic Tullybuck antimony mine area as a key target and these results confirm the effectiveness of our team's pre-drilling technical review."
Professor Conroy said that, in the context of the Clontibret deposit where the company already had a JORC-compliant resource of 517,000 ounces of gold from 20% of the gold-in-soil target tested, the further results were "excellent" and the confirmation of a further extensive gold zone 30 metres to the south of the historic Tullybuck antimony mine built "significantly" on what the board previously identified.
"The team is delighted with this gold zone discovery and what it means for the Clontibret deposit and our company as a whole."