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Drilling begins and Conroy Gold's Clay Lake-Clontibret target
Gold exploration and development company Conroy Gold and Natural Resources announced on Monday that the planned drilling programme on its Clay Lake-Clontibret gold target in Ireland has now commenced, with two drill rigs mobilised to site.
The AIM-traded firm said the current drilling programme was focused on the Clontibret gold deposit in the south west of the Clay Lake-Clontibret gold target; where a JORC resource of 517,000 ounces of gold had already been defined on 20% of the Clontibret gold target.
It said the drilling programme was designed to upgrade the overall mineral resource at Clontibret, convert inferred to indicated resources in order to apply mining parameters, and test the extent of high grade gold lodes indicated by channel samples in the historic Tullybuck antimony mine.
The firm said the drilling was also planned to gain geotechnical information in relation to the Company's proposed gold mine at Clontibret.
A thousand metres of drilling was planned over a total of 10 drill holes, to a depth of up to 200 metres in this phase of drilling.
Further drilling would follow both on the Clontibret gold deposit and elsewhere on its 100% owned licences along the 65 km gold trend, the board explained, which the company has discovered in the Longford-Down Massif.
"I am pleased to announce the commencement of this drilling programme at the Clontibret gold deposit," said chairman Professor Richard Conroy.
"The programme is designed to move the company forwards towards commercialisation of the major gold property which it has discovered in Ireland.
"I look forward to updating shareholders as the drilling programme progresses."