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Connemara Mining RNS Release

Drilling Commences at Mine River Gold Project


RNS Number : 1565J
Connemara Mining Company plc
28 March 2018
 

28th March 2018

 

Connemara Mining Company plc

 

("Connemara" or the "Company")

Drilling Commences at Mine River Gold Project

  Connemara Mining Company plc (LON: CON), the Irish gold and zinc exploration company, is pleased to provide an update to shareholders on operations at its 100% owned Mine River Gold Project in Wicklow/Wexford.

 

Highlights

 

·        Connemara has re-commenced drilling at the Mine River Gold Project, totalling 1,000 metres over 10 drill holes

 

·        The Company has prioritised two targets: at Tombreen (where the Company recently reported drilling results of 16.1 g/t gold in Hole 17-TB-01 over 2 metres from 78 metres depth), and 2.5 kilometres to the southwest at Knocknalour

 

·        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, commented: "We are pleased to report drilling has re-commenced at our Mine River Gold Project.  We had very encouraging results at the Tombreen Prospect and are looking to build on that.  Tombreen and Knocknalour lie along the significant 15 kilometre target trend we have identified at Mine River.  With this drilling we want to confirm high-grade gold mineralisation while expanding strike-length. We look forward to the results."

 

Mine River Gold Project

 

The Block currently comprises 11 contiguous Prospecting Licences with a total area of approximately 475 km2, located in the counties of Wicklow and Wexford in southeast Ireland.  The area was the focus of the Wicklow Gold Rush of 1795 and gold mining continued on a small-scale until the mid-1800s.

 

The Company has identified a 15 kilometre long target by combining data from geochemical surveys in streams and soils completed across the Block with results from the airborne geophysical survey flown by Hendrick Resources in 2012 (and combined with the Tara Exploration survey of 2000).

 

Historic drilling and recent drilling by Connemara has proven gold mineralisation in bedrock.  An eight metre intersection from 74m grading at 4.53 g/t gold (Au) at Tombreen (17-TB-01) has demonstrated substantial mineralised thickness, which includes 2m from 78m at 16.1 g/t Au.  The best reported historical intersection at Tombreen was 50cm grading at 21.28 g/t Au from 70.7m (2558-3).  Geological data indicates significant strata-bound gold mineralisation is associated with the contacts between Ordovician volcanic rocks and metasedimentary rocks.

 

This announcement has been reviewed and approved by Gavin Berkenheger (CGeol) in his capacity as the Qualified Person for the purposes of the AIM Guidance Note for Mining, Oil and Gas Companies issued by the London Stock Exchange.

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

 

INFORMATION FOR EDITORS

Connemara is a diversified exploration company with principal assets in gold and zinc exploration licences across Ireland.  Connemara currently holds interests in a total of 41 licences, including joint ventures with Teck at the Oldcastle Zinc Project and with Group Eleven Resources Corp at the Stonepark Zinc Project.

 

Further information can be sourced from the Company website: www.connemaramc.com

 

ENDS

 

Enquiries:

 

Connemara Mining Company Plc

 

John Teeling, Chairman

+353 (0) 1 833 2833

Patrick Cullen, CEO

+353 (0) 87 272 1748

+44 (0) 755 237 8208

Northland Capital Partners Limited

 

Matthew Johnson / Dugald J. Carlean

+44 (0) 203 861 6625

John Howes

 

First Equity Limited

 

Jason Robertson

+44 (0) 207 374 2212

Blytheweigh

+44 (0) 207 138 3204

Nick Elwes

+44 (0) 783 185 1855

Camilla Horsfall

+44 (0) 781 784 1793

Teneo PSG

 

Luke Hogg

+353 (0) 1 661 4055

Alan Tyrrell

+353 (0) 1 661 4055

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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