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Additional Information
Market: AIM
Sector: General Mining - Zinc, Lead and Tin
EPIC: CON
Latest Price: 11.25p  (2.27% Ascending)
52-week High: 27.00p
52-week Low: 8.50p
Market Cap: 2.89M
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Connemara Mining
www.connemaramining.com

Connemara Mining Company plc was established in 2006 by veterans of the Irish zinc industry to exploit zinc opportunities in Ireland and currently holds 38 prospecting licences in central and south-west Ireland. Connemara’s licences are for some or all of the base metals (Bm), barite (b), gold (g), silver (s), and platinum group elements (PGE). The Connemara exploration philosophy is trendology and closeology - follow the mineralised trends and obtain ground as close as possible to existing or former zinc/lead mines.

Full Connemara Mining profile here
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Connemara Mining sets up joint venture with Boliden AB to explore Oldcastle zinc-lead project

19th Oct 2011, 9:12 am by Sergei Balashov Under the terms of the JV agreement, Boliden can earn a 65 percent stake in the project

Shares in Irish zinc explorer Connemara Mining (LON:CON) surged this morning after the company announced a joint venture with Swedish metal company Boliden AB over its Oldcastle block of licences in Cavan and Meath.

Under the terms of the JV agreement, Boliden’s subsidiary Boliden Tara Mines can earn a 65 percent stake in the project.

Early stage exploration under the JV will include extensions of current soil coverage, sampling and shallow drilling.

The terms of the agreement have been agreed by the two companies and the joint venture is now subject to government approvals.

The block is located over 25 kilometres northwest of the giant Navan zinc-lead mine, currently operated by New Boliden. The mine has a resource of over 100 million tonnes grading 10/1 percent zinc, 2.6 percent lead and 11 grammes per tonne (g/t) silver.

Connemara says that the structural setting of the Oldcastle region is similar to that of the Navan area.

The primary target horizon for zinc/lead mineralisation is the Navan Beds succession, which can be up to 140 metre thick in this area.

The best and most extensive mineralisation discovered in this area to date is in the region around Drumlerry. Work carried out in 2007 and 2008 was focused on the greater Drumlerry target with three holes intersecting significant grades and thicknesses of zinc and lead mineralisation, hosted within the Top Micrite formation of the Navan Beds.

During the last year an extensive regional IP programme was completed, targeting down-dip extensions and structural mapping to the south west of the licence block.

The results from this dataset are being analysed and will complement the detailed exploration database.

Investors cheered the news as shares in Connemara rallied 7 percent to 11.5 pence in early deals, valuing the company at £2.96 million.

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