http://www.proactiveinvestors.co.uk Proactiveinvestors RSS feed en Mon, 24 Sep 2018 03:19:58 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180730070009_13735205/ Mon, 30 Jul 2018 07:00:09 +0100 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180730070009_13735205/ <![CDATA[RNS press release - Results of Annual General Meeting ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180725133208_13731194/ Wed, 25 Jul 2018 13:32:08 +0100 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180725133208_13731194/ <![CDATA[RNS press release - Director/PDMR shareholding ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180705070007_13706322/ Thu, 05 Jul 2018 07:00:07 +0100 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180705070007_13706322/ <![CDATA[News - Connemara Mining shares gain as it recommences drilling at Oldcastle zinc project ]]> http://www.proactiveinvestors.co.uk/companies/news/200093/connemara-mining-shares-gain-as-it-recommences-drilling-at-oldcastle-zinc-project-200093.html Connemara Mining Company PLC (LON:CON) saw its shares rise on Wednesday as it announced the commencement of a new drill programme at the Oldcastle Zinc project located in the counties of Cavan and Meath in Ireland.

The AIM-listed firm said the costs of the drilling programme will be borne by joint venture partner and operator Teck Ireland Ltd, which has the option to increase its interest in the project to 75% from 65%.

READ: Connemara Mining identifies new mineralised zone at Mine River

Connemara said recent work by Teck indicates the presence of a hydrothermal system and basin bounding fault. The company added that approximately 1,800 metres of drilling has been planned over two to three holes.

Patrick Cullen, Connemara's chief executive officer commented: "Teck have completed comprehensive technical work leading to this decision, integrating data derived from previous drilling, geophysics and 2D seismic to refine the targets.”

He added: “The target is compelling, focused on the Pale Beds within an interpreted fault system that Teck consider may present a Navan analogue. We look forward to results over the coming months."

In a note to clients, analysts at 'house' broker Northland Capital said: “It is positive to see work re-commencing at the Oldcastle Zinc Project. Connemara Mining is free-carried for this phase of work, with Teck Ireland required to spend an additional €400,000 to take its interest up to 75%.”

“The drilling is focusing on the potential of the Pale Beds, located in the vicinity of an interpreted fault system that could contain a similar style of mineralisation to that at Navan,” the analysts said.

In late morning trading, Connemara’s shares were up 1.7% to 2.92p.

-- Updates share price -- 

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Wed, 04 Jul 2018 07:25:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/200093/connemara-mining-shares-gain-as-it-recommences-drilling-at-oldcastle-zinc-project-200093.html
<![CDATA[RNS press release - Drilling Recommences at Oldcastle Zinc Project ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180704070004_13704574/ Wed, 04 Jul 2018 07:00:04 +0100 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180704070004_13704574/ <![CDATA[RNS press release - Posting of Annual Report and Notice of AGM ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180629070001_13698347/ Fri, 29 Jun 2018 07:00:01 +0100 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180629070001_13698347/ <![CDATA[Media files - Connemara Mining sees potential after mineralised zone discovered at Mine River ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/9719/connemara-mining-sees-potential-after-mineralised-zone-discovered-at-mine-river-9719.html Wed, 27 Jun 2018 13:58:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/9719/connemara-mining-sees-potential-after-mineralised-zone-discovered-at-mine-river-9719.html <![CDATA[News - Connemara Mining identifies new mineralised zone at Mine River ]]> http://www.proactiveinvestors.co.uk/companies/news/199492/connemara-mining-identifies-new-mineralised-zone-at-mine-river-199492.html Connemara Mining Company PLC (LON:CON) said a new mineralised zone has been identified at Tombreen on its wholly-owned Mine River gold project in Ireland.

The zone is over a 50 metre (m) strike length, Connemara said.

WATCH: Connemara Mining identifies new mineralised zone at Mine River

A total of 614 metres of drilling was undertaken to determine the presence and geometry of mineralised zones at two target areas along a 15km gold trend identified by Connemara geologists in counties Wicklow and Wexford.

Hole 18-TB-03 returned multiple gold (Au) mineralised intercepts including: 4m grading at 1.47 grams per tonne (g/t) Au from 30m; 1m grading at 1.56 g/t Au from 78m; 1m grading at 1.23 g/t Au from 98m and a combined zone of 14.5m grading at 0.49 g/t Au from 25.5m.

Hole 18-TB-04, meanwhile, intercepted 2m grading at 1.99 g/t Au from 41m (including 1m at 2.95 g/t Au).

"We have continued from hole 17-TB-01 at Tombreen, announced earlier, which intercepted 8m at 4.53 g/t gold, including 2m grading 16.1 g/t and we have identified a new mineralised zone over a 50m strike length plus a third deeper mineralised zone. We are moving closer to understanding the geometry of these structures,” declared Patrick Cullen, the chief executive officer of Connemara.

"The next step is to study the drill core and the gold mineralisation under the microscope and analyse the detailed rock structures. This work will be key to unlocking the mechanisms controlling gold mineralisation at Mine River. This should enable us to better target more high-grade zones," he added.

Shares in Connemara were unchanged following the news.  

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Mon, 25 Jun 2018 12:11:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/199492/connemara-mining-identifies-new-mineralised-zone-at-mine-river-199492.html
<![CDATA[RNS press release - Mine River Exploration Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180625112302_13692233/ Mon, 25 Jun 2018 11:23:02 +0100 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180625112302_13692233/ <![CDATA[News - Connemara Mining “well positioned” to move ahead in new financial year ]]> http://www.proactiveinvestors.co.uk/companies/news/199373/connemara-mining-well-positioned-to-move-ahead-in-new-financial-year-199373.html Connemara Mining Company PLC (LON:CON) has said it has made “significant progress” in the last year and is “well positioned to move further ahead” as it released its full-year results.

The AIM-listed gold and zinc explorer reported a pre-tax loss of €214,331 from a €195,584 loss the year before, while it ended the year with cash and cash equivalents of €122,716 compared to €162,794 last year.

READ: Connemara reveals encouraging results from first new hole at Stonepark Zinc Project

The group added that the £200,000 raised in August 2017 as well as the £900,000 raised in early 2018 were being used to fund “very active” exploration programmes.

Connemara recently announced that the first new hole at Stonepark Zinc Project intersected 32.2% combined zinc and lead over 5.4m.

The firm said G-11-2638-01 intersected 5.40m of 25.0% zinc and 7.2% lead (32.2% Zn+Pb combined) and 12.2g/t silver, with true width estimated at 4.9m, verifying one of the high-grade zones within the Stonepark resource.

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Fri, 22 Jun 2018 07:28:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/199373/connemara-mining-well-positioned-to-move-ahead-in-new-financial-year-199373.html
<![CDATA[RNS press release - Final Results for the Year Ended 31 December 2017 ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180622070003_13689571/ Fri, 22 Jun 2018 07:00:03 +0100 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180622070003_13689571/ <![CDATA[News - Connemara reveals encouraging results from first new hole at Stonepark Zinc Project ]]> http://www.proactiveinvestors.co.uk/companies/news/199059/connemara-reveals-encouraging-results-from-first-new-hole-at-stonepark-zinc-project-199059.html Connemara Mining PLC (LON:CON) has announced that the first new hole at Stonepark Zinc Project intersected 32.2% combined zinc and lead over 5.4m.

The AIM-listed firm said G-11-2638-01 intersected 5.40m of 25.0% zinc and 7.2% lead (32.2% Zn+Pb combined) and 12.2g/t silver, with true width estimated at 4.9m, verifying one of the high-grade zones within the Stonepark resource.

READ: Connemara Mining now has a major zinc resource under its belt, and is looking to build further inventory

The Irish gold and zinc exploration company said this hole was drilled into a key area of known high-grade mineralisation on the presumed eastern edge of the recently announced maiden Inferred Mineral Resource Estimate.

Connemara Mining added that robust mineralisation interpreted to be open eastwards toward Glencore’s neighbouring Pallas Green deposit.

Patrick Cullen, chief executive officer, said the results underline the high grade nature of the deposit.

"The decision to drill inclined holes has yielded immediate results by giving better structural information. This has opened the deposit eastwards, presenting opportunity to increase the Resource towards Glencore's Pallas Green deposit,” he said.

He added: "The strategic value of the location of Stonepark should not be overlooked, it lies adjacent to Pallas Green. These deposits are Ireland's two largest undeveloped zinc-lead Resources by metal contained."

The Stonepark Zinc Project is a joint venture between Connemara and the project operators Group Eleven Resources.

In early afternoon trading, Connemara’s shares rose 0.9% to 2.80p.

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Mon, 18 Jun 2018 14:48:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/199059/connemara-reveals-encouraging-results-from-first-new-hole-at-stonepark-zinc-project-199059.html
<![CDATA[RNS press release - 32.2% Zinc + Lead combined over 5.4m at Stonepark ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180618130112_13683778/ Mon, 18 Jun 2018 13:01:12 +0100 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180618130112_13683778/ <![CDATA[News - Connemara Mining now has a major zinc resource under its belt, and is looking to build further inventory ]]> http://www.proactiveinvestors.co.uk/companies/news/195662/connemara-mining-now-has-a-major-zinc-resource-under-its-belt-and-is-looking-to-build-further-inventory-195662.html The market was relatively nonplussed at the announcement from Connemara Mining PLC (LON:CON) and its joint venture partner Group Eleven that the zinc resource at the Stonepark project in Ireland now amounts to more than five million tonnes of resources.

On the day, Connemara shares ticked up a fraction, and rose again in the following day’s trade to their current price of 3.68p.

READ: Connemara Mining now has a major zinc resource under its belt, and is looking to build further inventory

So not a negative response by any means, but nothing like the sort of reaction that similar news would have been greeted with during the last commodities boom.

Back then, the delivery of such a solid platform for growth would have had investors piling in in droves, not least from the Irish contingent of retailers who were particularly active in those days.

Times have changed though, and while it’s true that sentiment towards miners and commodities has recovered over the past 12 months, that recovery has been no more than patchy when it comes to the junior companies.

But Connemara chief executive Patrick Cullen is only too aware of this.

He took on his role at Connemara at the end of last year, following a - quiet period for the company.

His charge was to get things moving again, and that he’s certainly done. If it takes the market a little while to cotton on, then all that really means is that when it does, the upward trajectory in the share price will be all the more steep.

To be sure, it’s generally accepted that it takes more than five million tonnes of ore to make a mine in Ireland. But the likelihood is that there is more than five million tonnes at Stonepark. This resource was put together by Group Eleven using only data inherited from Connemara’s previous joint venture partner Teck Resources. The last drilling was conducted in 2012.

READ: Connemara Mining buoyed by mineral resource estimate at the Stonepark zinc project

Teck, as one of the largest mining companies in the world, was after something truly colossal. So, when that possibility appeared to become remote, interest waned. But be that as it may, Group Eleven has established the resource remains open and that there’s likely to be a significant amount of further ore to be delineated.

What’s more, across the tenement line, one of the world’s biggest producers of zinc, Glencore, continues to drill on the Pallas Green property that once upon a time was held by Minco. And if Glencore reaches a point where it’s looking at pressing development buttons then the outlook for Stonepark as a satellite would be assured, never mind the continuing prospect that it could still one day be developed as a standalone mine.

With all that in mind, Patrick Cullen describes the recent resource update as “good progress.” He points out that drilling by Group Eleven is ongoing, and there may be further step-out work depending on the results. Regional targets up to 10 kilometres away will also be investigated.

“Glencore have been drilling at Pallas Green and have recently updated the resource, and now Connemara and Group Eleven are drilling at Stonepark next door, so all’s right with the world as far as drilling is concerned,” says Cullen.

A recent fundraising allows Connemara to continue to support its position at Stonepark, so further upside will continue to accrue, according to the joint venture split: 77% to Group Eleven and 23% to Connemara.

Meanwhile, Connemara continues to drill on its 100%-owned gold targets in Wicklow-Wexford. Two targets are being investigated, one of which has already yielded mineralisation grading at over 16 grams per tonne from one drill hole.

“The upside for everybody should be that we make a very significant discovery,” says Cullen.

Pace of exploration stepping up

“We have some very prospective ground and have had early success. The plan is to expand the discoveries we have made and hopefully build on that, develop resources; there’s a clear path ahead as long as we enjoy the support we have had we can succeed further. We’re going to have good newsflow. And, it’s good to be diversified and we’re not tied to one target.”

There’s also some very promising-looking ground in Donegal in the company’s portfolio that will also be receiving attention but, in the meantime though, newsflow from Stonepark on zinc, and Wicklow-Wexford on gold will keep coming in. In a depressed market for exploration companies, this may initially fall on deaf ears.

But the rapid progress at Stonepark tells its own story: the pace of exploration work is stepping up in Ireland, and it’s only a matter of time before some investors wake up and start taking notice.

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Tue, 24 Apr 2018 06:34:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/195662/connemara-mining-now-has-a-major-zinc-resource-under-its-belt-and-is-looking-to-build-further-inventory-195662.html
<![CDATA[News - Connemara Mining now has a major zinc resource under its belt, and is looking to build further inventory ]]> http://www.proactiveinvestors.co.uk/companies/news/195558/connemara-mining-now-has-a-major-zinc-resource-under-its-belt-and-is-looking-to-build-further-inventory-195558.html The market was relatively nonplussed at the announcement from Connemara Mining PLC (LON:CON and its joint venture partner Group Eleven that the zinc resource at the Stonepark project in Ireland now amounts to more than five million tonnes.

Connemara shares ticked up a fraction after the news and rose again in the following day’s trade to their current price of 3.68p.

So not a negative response by any means, but nothing like the sort of reaction that similar news would have been greeted with during the last commodities boom.

Back then, the delivery of such a solid platform for growth would have attracted droves of investors, not least from the Irish contingent of retailers who were particularly active in those days.

Times have changed though, and while it’s true that sentiment towards miners and commodities has recovered over the past 12 months, that recovery has been no more than patchy when it comes to the junior companies.

But Connemara chief executive Patrick Cullen is only too aware of this.

He took on his role at Connemara at the end of last year, following a quiet period for the company.

His charge was to get things moving again, and that he’s certainly done. If it takes the market a little while to cotton on, then all that really means is that when it does the upward trajectory in the share price will be all the more steep.

To be sure, it’s generally accepted that it takes more than five million tonnes of ore to make a mine in Ireland. But the likelihood is that there is more than five million tonnes at Stonepark. This resource was put together by Group Eleven using only data inherited from Connemara’s previous joint venture partner Teck Resources. The last drilling conducted was 2012.

Teck, as one of the largest mining companies in the world, was after something truly colossal. So, when that possibility appeared to become remote, interest waned. But be that as it may, Group Eleven has established the resource remains open and that there’s likely to be a significant amount of further ore to be delineated.

What’s more, across the tenement line, one of the world’s biggest producers of zinc, Glencore, continues to drill on the Pallas Green property that once upon a time was held by Minco. And if Glencore reaches a point where it’s looking at pressing development buttons then the outlook for Stonepark as a satellite would be assured, never mind the continuing prospect that it could still one day be developed as a standalone mine.

With all that in mind, Patrick Cullen describes the recent resource update as “good progress.” He points out that drilling by Group Eleven is ongoing, and there may be further step-out work depending on the results. Regional targets up to 10 kilometres away will also be investigated.

“Glencore have been drilling at Pallas Green and have recently updated the resource, and now Connemara and Group Eleven are drilling at Stonepark next door, so all’s right with the world as far as drilling is concerned,” says Cullen.

A recent fundraising allows Connemara to continue to support its position at Stonepark, so further upside will continue to accrue according to the joint venture split: 77% to Group Eleven and 23% to Connemara.

Meanwhile, Connemara continues to drill on its 100%-owned gold targets in Wicklow-Wexford. Two targets are being investigated, one of which has already yielded mineralisation grading at over 16 grams per tonne from one drill hole.

“The upside for everybody should be that we make a very significant discovery,” says Cullen.

“We have some very prospective ground and have had early success. The plan is to expand the discoveries we have made and hopefully build on that, develop resources; there’s a clear path ahead as long as we enjoy the support we have had we can succeed further. We’re going to have good newsflow. And, it’s good to be diversified and we’re not tied to one target.”

There’s also some very promising looking ground in Donegal in the company’s portfolio that will also be receiving attention but, in the meantime though, newsflow from Stonepark on zinc, and Wicklow-Wexford on gold will keep coming in. In a depressed market for exploration companies, this may initially fall on deaf ears.

But the rapid progress at Stonepark tells its own story: the pace of exploration work is stepping up in Ireland, and it’s only a matter of time before some investors wake up and start taking notice.

 

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Mon, 23 Apr 2018 07:22:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/195558/connemara-mining-now-has-a-major-zinc-resource-under-its-belt-and-is-looking-to-build-further-inventory-195558.html
<![CDATA[Media files - Connemara Mining hails Stonepark resource; back drilling at Mine River ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/9120/connemara-mining-hails-stonepark-resource-back-drilling-at-mine-river-9120.html Fri, 20 Apr 2018 13:41:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/9120/connemara-mining-hails-stonepark-resource-back-drilling-at-mine-river-9120.html <![CDATA[News - Connemara Mining buoyed by mineral resource estimate at the Stonepark zinc project ]]> http://www.proactiveinvestors.co.uk/companies/news/195182/connemara-mining-buoyed-by-mineral-resource-estimate-at-the-stonepark-zinc-project-195182.html Connemara Mining Company PLC (LON:CON) has announced a maiden inferred resource estimate at its Stonepark zinc project located in Limerick, Ireland.

The headline mineral resource estimate is 5.3mln tonnes grading 11.15% zinc + lead combined. The zinc (Zn) grade was 8.55% and the lead (Pb) grade was 2.60%.

Resource category

Tonnes (thousands)

Grades

Metal content (pounds)

Zn %

Pb %

Zn + Pb (%)

Zn (thousands)

Pb (thousands)

Zn + Pb (thousands)

Inferred

5,300

8.55

2.60

11.15

990,000

301,300

1,291,300


The deposit is relatively shallow, Connemara noted, occurring at depths ranging from 190 metres to 395 metres.

The deposit consists of flat-lying, stratiform lenses of mineralisation.

WATCH: Connemara Mining hails Stonepark resource; back drilling at Mine River

"This is a very exciting and important milestone for Connemara and for joint venture partner, Group Eleven. The work underlies Stonepark's status as an advanced project and as a key asset to the company. This maiden mineral resource demonstrates attractive grades but is also significant in terms of tonnage,” said Patrick Cullen, the chief executive officer of Connemara.

The Stonepark deposit was first discovered in 2007 by Connemara and Teck and activity has been low in recent years. Following the acquisition of Teck's stake by Group Eleven Resources Corp (CVE:ZNG), drilling at Stonepark has recently re-commenced to improve the understanding of the structural controls on mineralisation. Subsequent drilling will be based on results from initial drilling and regional fieldwork.

“It has been very encouraging to see the work recommence in earnest with Group Eleven's acquisition of Teck's share. Connemara continue to support the joint venture and look forward to results from the drilling currently underway at Stonepark North," Cullen said.

Connemara holds 23.44% of the project.

Shares in Connemara rose 2.9% to 3.5p on the news.

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Tue, 17 Apr 2018 15:56:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/195182/connemara-mining-buoyed-by-mineral-resource-estimate-at-the-stonepark-zinc-project-195182.html
<![CDATA[RNS press release - Maiden Resource at Stonepark Zinc Project ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180417145802_13608002/ Tue, 17 Apr 2018 14:58:02 +0100 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180417145802_13608002/ <![CDATA[RNS press release - UK Investor Show 21st April 2018 ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180417070008_13606691/ Tue, 17 Apr 2018 07:00:08 +0100 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180417070008_13606691/ <![CDATA[News - Connemara Mining re-commences drilling at its Mine River Gold project in Ireland ]]> http://www.proactiveinvestors.co.uk/companies/news/193939/connemara-mining-re-commences-drilling-at-its-mine-river-gold-project-in-ireland-193939.html Connemara Mining Company PLC (LON:CON) has re-commenced drilling at its 100%-owned Mine River Gold project at Wicklow/Wexford in Ireland, boring 10 drill holes totalling 1,000 metres.

The AIM-listed Irish gold and zinc exploration firm said that it has prioritised two targets, the first at Tombreen, where the company recently reported drilling results of 16.1 grammes per tonnes (g/t) of gold in Hole 17-TB-01 over 2 metres from 78 metres depth.

READ: Connemara strategic update shows a company with multiple opportunities and plenty of appetite for more

The other target is 2.5km to the southwest at Knocknalour.

Connemara Mining said in a statement that both locations lie along a target trend identified through airborne geophysics, soil and rock geochemical surveys, and historic drilling.

Patrick Cullen, chief executive officer of Connemara, said: “We had very encouraging results at the Tombreen Prospect and are looking to build on that.”

He added: “Tombreen and Knocknalour lie along the significant 15km target trend we have identified at Mine River. With this drilling we want to confirm high-grade gold mineralisation while expanding strike-length.”

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Wed, 28 Mar 2018 07:46:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/193939/connemara-mining-re-commences-drilling-at-its-mine-river-gold-project-in-ireland-193939.html
<![CDATA[RNS press release - Drilling Commences at Mine River Gold Project ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180328070005_13584054/ Wed, 28 Mar 2018 07:00:05 +0100 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180328070005_13584054/ <![CDATA[News - Connemara strategic update shows a company with multiple opportunities and plenty of appetite for more ]]> http://www.proactiveinvestors.co.uk/companies/news/193771/connemara-strategic-update-shows-a-company-with-multiple-opportunities-and-plenty-of-appetite-for-more-193771.html A strategic update from Connemara Mining Company PLC (LON: CON) has outlined the company’s key goals for the future, arguing that its portfolio is likely to attract major interest from investors, given current positive sentiment towards Ireland.

Connemara has interests in 41 exploration licences in Ireland and is specifically focused on gold and zinc opportunities. 

READ: Connemara Mining excited to see drilling started at Stonepark Zinc project

The company currently has two key joint venture partners within its zinc portfolio: Group Eleven Resources Corp and Teck, Canada's largest diversified mining company. 

Drilling is currently being undertaken at Stonepark North, part of the company's 23.44% owned zinc joint venture with Group Eleven Resources (CVE:ZNG). Given the results to date, and its proximity to Glencore's 44mln tonne zinc and lead deposit at Pallas Green it is Connemara's intention to fully participate and maintain its 23.44% stake.

Meanwhile, Connemara’s own exploration activities will also continue. There are three prongs to the exploration. The first is ongoing work on the Inishowen gold project in the Dalradian rocks of Donegal. The second is the Mine River gold project in the counties of Wicklow and Wexford, located in the region of the 1795 gold rush. The third is zinc exploration across multiple projects in central and southern Ireland.

Work to date on these exploration opportunities has identified numerous high profile targets and further information will be communicated in this regard as reviews progress.

Ground exploration due to commence shortly

In the meantime, the next phase of ground exploration, due to commence shortly, will focus on a drill programme targeting high-grade gold intersections and expanding prospect strike-length at the company's 100% owned Mine River Gold Project located in counties Wicklow and Wexford.

In addition, Connemara is actively reviewing a range of other opportunities.

"We are pleased to present this review and to follow up on our recent fundraising with an update on activity on the ground,” said chief executive Patrick Cullen. 

“We are excited to be moving forward on our Irish gold assets. We believe Ireland will emerge as a gold producing province and expect to see a lot of activity in the coming months, with both progress on mine developments, as well as new entrants to follow Connemara in the exploration space. We've had early success at both our gold projects and now we have funds to continue to build on that.”

Well-positioned with extensive land package

In a note to clients, analysts at ‘house’ broker Northland Capital commented: “As interest in Irish exploration increases, Connemara Mining Company is well positioned with an extensive land package to take advantage of the renewed interest.

“The Company has a wealth of experience in Irish exploration and a skilled exploration team. It is shortly going to restart exploration at the 100%-owned Mine River Gold Project.

“While at the 23%-owned Stonepark Zinc Project further updates on the drill programme being undertaken by joint venture partner Group 11 Resources will be provided in due course.”

In late afternoon trading, Connemara Mining shares were changing hands at 3.75p each, down 0.7% on Friday’s close.

 -- Adds broker comment, share price --

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Mon, 26 Mar 2018 08:25:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/193771/connemara-strategic-update-shows-a-company-with-multiple-opportunities-and-plenty-of-appetite-for-more-193771.html
<![CDATA[RNS press release - Business Strategic Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180326070003_13580219/ Mon, 26 Mar 2018 07:00:03 +0100 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180326070003_13580219/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180321105020_13575584/ Wed, 21 Mar 2018 10:50:20 +0000 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180321105020_13575584/ <![CDATA[RNS press release - Investor Presentation ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180316141409_13570544/ Fri, 16 Mar 2018 14:14:09 +0000 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180316141409_13570544/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180315162312_13568980/ Thu, 15 Mar 2018 16:23:12 +0000 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180315162312_13568980/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180315094406_13568168/ Thu, 15 Mar 2018 09:44:06 +0000 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180315094406_13568168/ <![CDATA[News - Connemara Mining excited to see drilling started at Stonepark Zinc project ]]> http://www.proactiveinvestors.co.uk/companies/news/192905/connemara-mining-excited-to-see-drilling-started-at-stonepark-zinc-project-192905.html Connemara Mining PLC (LON:CON) is pleased that joint venture partner Group Eleven Resources Corp (CVE:ZNG) is to restart drilling at a key asset, the Stonepark Zinc project in Limerick, Ireland, in the next few weeks.

Group Eleven has a 76.56% interest, while Connemara has 23.44%. The former aims to determine if exploration success at the adjacent Pallas Green project, which is owned by major Glencore plc (LON:GLEN) can be replicated.

WATCH: Connemara Mining raises £900k to accelerate gold and zinc operations

Pallas Green hosts a JORC 2012-compliant inferred resource of 44mln tonnes grading at 8.0% zinc and lead as at 31 December 2016.

Group Eleven aims to expand all three established mineralised zones (Stonepark, Stonepark North, and Stonepark West; drilled by Teck Resources Ltd between 2007 and 2011), test five existing regional prospects and re-examine the entire Limerick Basin (which underlies Stonepark and Group Eleven's contiguous PG West Property) to ascertain potential for carbonate replacement deposit type mineralisation, as well as, seek large regional feeder structures and corridors.

"We are excited to see work is underway at Stonepark.  We are especially pleased to confirm commencement of expansion and confirmatory drilling," said  Patrick Cullen, chief executive.

"Stonepark is an advanced project and a key asset.  We plan to maintain Connemara's share in the project going forward and are allocating £250,000 from our recent fundraising to cover expenditure commitments in the coming 12 months."

Group Eleven recently started regional fieldwork at Stonepark, consisting mostly of a detailed ground gravity survey and soil sampling.

It is also participating in an upcoming airborne geophysical survey, conducted as part of the Geological Survey of Ireland's Tellus programme, which will cover the Stonepark site.

The survey is scheduled to begin in May this year.

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Fri, 09 Mar 2018 07:50:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/192905/connemara-mining-excited-to-see-drilling-started-at-stonepark-zinc-project-192905.html
<![CDATA[RNS press release - Drilling to Commence at the Stonepark Zinc Project ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180309070005_13560740/ Fri, 09 Mar 2018 07:00:05 +0000 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180309070005_13560740/ <![CDATA[Media files - Connemara Mining raises £900k to accelerate gold and zinc operations ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/8820/connemara-mining-raises-900k-to-accelerate-gold-and-zinc-operations-8820.html Wed, 28 Feb 2018 08:16:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/8820/connemara-mining-raises-900k-to-accelerate-gold-and-zinc-operations-8820.html <![CDATA[News - Connemara Mining raises £900,000, reshuffles board, strategic update to follow ]]> http://www.proactiveinvestors.co.uk/companies/news/192163/connemara-mining-raises-900000-reshuffles-board-strategic-update-to-follow-192163.html Connemara Mining PLC (LON:CON) is raising £900,000 through the issue of 21,686,747 shares at 4.15p, with Metal Tiger PLC (LON:MTR) to subscribe for £200,000.

Meanwhile, long-standing directors John Teeling and Jim Finn will convert historic salaries totalling £199,500 into company equity at the placing price of 4.15p through the issue of 4,807,228 shares.

WATCH: Connemara Mining raises £900k to accelerate gold and zinc operations

And in conjunction with the fundraising, new board member Patrick Cullen becomes full-time chief executive, with what Teeling describes as “full executive authority.”

Teeling himself becomes non-executive chairman, while Michael McNeilly, the chief executive of Metal Tiger is also joining the board. A director from First Equity has also been appointed.

Non-executive directors Vivion Byrne, Danesh Varma and Gavin Berkenheger will step down.

The new money will allow Connemara to accelerate operations across its gold and zinc portfolio in Ireland

 “The developments announced today are very significant for the growth of the Company,” said John Teeling.

“It is now time to accelerate our operational story and fully investigate the potential of our strategic gold and zinc interests which the board consider, on the basis of work completed to date, and where relevant the work of our close neighbours, to have excellent potential.  We are planning a detailed operational programme at present and a full Strategic Update will be provided to the market shortly which will outline our planned ground operations and specifically how we intend to deploy the additional working capital secured in this financing.”

 

 

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Mon, 26 Feb 2018 08:09:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/192163/connemara-mining-raises-900000-reshuffles-board-strategic-update-to-follow-192163.html
<![CDATA[RNS press release - Strategic Financing and Board Restructuring ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180226070003_13544949/ Mon, 26 Feb 2018 07:00:03 +0000 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180226070003_13544949/ <![CDATA[Media files - Connemara Mine River Grades Good as Gold ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/8606/connemara-mine-river-grades-good-as-gold-8606.html Thu, 11 Jan 2018 16:22:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/8606/connemara-mine-river-grades-good-as-gold-8606.html <![CDATA[News - Connemara Mining reports strong gold grade at Mine River in Ireland ]]> http://www.proactiveinvestors.co.uk/companies/news/189865/connemara-mining-reports-strong-gold-grade-at-mine-river-in-ireland-189865.html Connemara Mining Company PLC (LON:CON) saw its shares gain 4% today as it reported high gold grades from one of three holes drilled recently at its Mine River prospect in Wicklow and Wexford in Ireland. 

Assay results from the hole at the Tombreen target indicated an 8m section grading 4.53 g/t gold, which included 2m at 16.1 g/t. 

READ: Connemara Mining says Mine River gold project on track

Mineralisation ranging from 0.17 g/t to 0.25g/t over several intersections was also confirmed in a hole at nearby Gibbet Hill, while surface samples from the surrounding area contained grades as high as 5.08 g/t.

 

John Teeling, chairman, said it was a very strong result from the Tombreen hole.  

“An 8 metre intersection at 4.5 g/t gold would be very satisfactory but 2 metres of 16.1 g/t gold within that is truly exciting.  

“Tombreen is a known gold area but this is better than anything previously reported.”  

WATCH: Connemara Mining highlights reinvigoration of Irish mining scene

The results at Gibbet Hill, 5km to the south were also encouraging he added.  

“We knew the vein system extends through the ground, the good rock samples demonstrate the presence of gold, as does the low gold grades discovered in hole 1.  It suggests more drilling to find the veins.”

In late afternoon trading, Connemara Mining shares were up 4%, or 0.18p at 4.55p.

 -- Adds share price --  

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Thu, 11 Jan 2018 08:41:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/189865/connemara-mining-reports-strong-gold-grade-at-mine-river-in-ireland-189865.html
<![CDATA[RNS press release - Prospecting Update - Wicklow/Wexford Gold Project ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180111071311_13492743/ Thu, 11 Jan 2018 07:13:11 +0000 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180111071311_13492743/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180102145516_13482611/ Tue, 02 Jan 2018 14:55:16 +0000 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180102145516_13482611/ <![CDATA[News - Connemara Mining says Mine River gold project on track ]]> http://www.proactiveinvestors.co.uk/companies/news/189147/connemara-mining-says-mine-river-gold-project-on-track-189147.html Connemara Mining PLC (LON:CON) said it has achieved its key objectives at its Mine River gold project in Wicklow and Wexford, Ireland.

The company has drilled two holes at Gibbet Hill at 193 metres and another at Tom Breen at 97 metres. Elsewhere in the project area, it has completed sampling and mapping.

WATCH: Connemara Mining boss looking forward to busy 2018 after 'excellent' four months as CEO

Drill and field samples will be delivered to the assay laboratory on Friday and results are expected in January.

Chairman Johan Teeling said the geological mapping and field sampling has already yielded information and the company will have new drill targets for the New Year.

“Our geologists and drill contractors have been busy for the past month on our Mine River project in Wicklow and Wexford,” said chairman Johan Teeling.

“There have been challenging weather conditions as expected but we are satisfied with progress.” 

WATCH: Connemara Mining advancing exciting Zinc and Gold projects in Ireland

Historic drilling at the project has proven gold mineralisation in bedrock along the trend.

The focus of the project is a 15 kilometre long target that has been identified by geochemical surveys, indicating significant strata-bound gold mineralisation associated with the contacts between Ordovician volcanic rocks and metasedimentary rocks

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Thu, 21 Dec 2017 07:57:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/189147/connemara-mining-says-mine-river-gold-project-on-track-189147.html
<![CDATA[RNS press release - Update on Gold Drilling and Field Exploration ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20171221070003_13473447/ Thu, 21 Dec 2017 07:00:03 +0000 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20171221070003_13473447/ <![CDATA[Media files - Connemara Mining boss looking forward to busy 2018 after 'excellent' four months as CEO ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/8551/connemara-mining-boss-looking-forward-to-busy-2018-after-excellent-four-months-as-ceo-8551.html Mon, 18 Dec 2017 08:09:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/8551/connemara-mining-boss-looking-forward-to-busy-2018-after-excellent-four-months-as-ceo-8551.html <![CDATA[RNS press release - Gold Drilling to Commence at Mine River ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20171116095247_13434069/ Thu, 16 Nov 2017 09:52:47 +0000 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20171116095247_13434069/ <![CDATA[Media files - Connemara Mining highlights reinvigoration of Irish mining scene ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/8352/connemara-mining-highlights-reinvigoration-of-irish-mining-scene-8352.html Fri, 10 Nov 2017 11:28:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/8352/connemara-mining-highlights-reinvigoration-of-irish-mining-scene-8352.html <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20171109133711_13426510/ Thu, 09 Nov 2017 13:37:11 +0000 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20171109133711_13426510/ <![CDATA[News - I’m here to get things moving, says new Connemara chief Patrick Cullen ]]> http://www.proactiveinvestors.co.uk/companies/news/187007/im-here-to-get-things-moving-says-new-connemara-chief-patrick-cullen-187007.html It’s early days for Patrick Cullen at Connemara Mining PLC (LON:CON). But less than two months into the job, he’s already brimming with enthusiasm for the company’s potential.

This in itself tells a story, as he’s not been attracted to the company by any form of significant salary.

WATCH: Connemara Mining advancing exciting Zinc and Gold projects in Ireland

Rather, it’s the Irish gold and zinc assets themselves, and what he believes he can do with them at this stage of the cycle.

Cullen’s relatively new on the Irish junior mining scene, but he fits right in.

An Irishman himself, with a geoscience background at Schlumberger, many years of experience in 3D seismics and mining at AngloGold (including a major re-design of two levels at Western Deeps) and subsequent experience with junior explorers in Africa, this is a man who arrives with a perfect feel for what he’s doing.

And when he decided to move his family to Ireland, he cast his eye around for likely-looking opportunity.

“I found John Teeling and these very good assets and I thought we could definitely do something,” he says.

And his idea of doing something is entirely operational. He’s not on the board and his main remuneration is option-based. If he can make things happen on the ground, he’ll be rewarded.

"Much to be getting on with" ....

“My role is to get things moving,” he says.

There’s much to be getting on with.

Founded as one of the stable of John Teeling companies that also includes Botswana Diamonds (LON:BOD) and Clontarf Energy (LON:CLON), Connemara has over the years amassed a suite of zinc and gold assets in Ireland and made plenty of progress on both.

Things have slowed down a bit in recent years though, as joint venture partner Teck proved less than steady in the level of its commitment at a key asset, Stonepark, and eventually sold out to Group Eleven, a private vehicle backed by MAG Silver (TSE:MAG) that’s due to list shortly in Toronto.

Connemara holds a 23.44% working interest in Stonepark, so it will not be making the running there, but even so that stake could still turn out to be very valuable. Next door, on the Pallas Green license, owned once upon-a-time by Minco, the word is that Glencore has six drill rigs at work and thats an already significant resource that could get bigger.

What that will ultimately mean for Stonepark isn’t clear, but Cullen expects Group Eleven to go to work on the project in a fairly serious way, and for Connemara’s end to come in at around £500,000 over the next two years.

That’s money Cullen reckons he can raise fairly easily, with the help of outstanding warrants, but it would be easier of course if he could get the share price moving.

Inishowen gold project push

In part, that’s why Connemara is now stepping up the work programme at its Inishowen gold project, which isn’t so far away from the Curraghinalt project that made Dalradian Resources (LON:DALR) a £200mln company.

Inishowen’s a long way from that at the moment, but the early work has been good.

“The second lot of drilling that the company did last summer hit 5 grams per tonne gold over 4.8 metres,” says Cullen.

“We’ve just done five more holes and further results will be back in a couple of weeks.”

But if there’s an idea that this will put a little zest into the share price with this drilling, the long game is far more interesting.

Cullen wants to put maybe 70 holes into three or four targets right across the licence and to work it up as a regional trend. And he wants to keep hold of it all while he does it. They also have near-term plans for drilling at their other gold project in the south-east of Ireland.

“I’m not giving up any of this ground and I’m not doing any deals,” he says. “We’ve got to drill more holes. We don’t want to miss another Curraghinalt.”

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Thu, 09 Nov 2017 11:07:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/187007/im-here-to-get-things-moving-says-new-connemara-chief-patrick-cullen-187007.html
<![CDATA[RNS press release - 14.25g/t gold over 0.5m at Inishowen ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20171109085225_13425995/ Thu, 09 Nov 2017 08:52:25 +0000 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20171109085225_13425995/ <![CDATA[Media files - Connemara Mining advancing exciting Zinc and Gold projects in Ireland ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/8306/connemara-mining-advancing-exciting-zinc-and-gold-projects-in-ireland-8306.html Mon, 30 Oct 2017 15:54:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/8306/connemara-mining-advancing-exciting-zinc-and-gold-projects-in-ireland-8306.html <![CDATA[RNS press release - Drilling Completed at Inishowen ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20171027070002_13410822/ Fri, 27 Oct 2017 07:00:02 +0100 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20171027070002_13410822/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20171025142913_13408928/ Wed, 25 Oct 2017 14:29:13 +0100 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20171025142913_13408928/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20171019115035_13402492/ Thu, 19 Oct 2017 11:50:35 +0100 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20171019115035_13402492/ <![CDATA[RNS press release - Acquisition Increases Wicklow Gold Strike Length ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20171019070003_13401596/ Thu, 19 Oct 2017 07:00:03 +0100 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20171019070003_13401596/ <![CDATA[RNS press release - Report On Stonepark Zinc Published ]]> http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20171017101423_13399120/ Tue, 17 Oct 2017 10:14:23 +0100 http://www.proactiveinvestors.co.uk/companies/rns/240/LSE20171017101423_13399120/