Proactiveinvestors United Kingdom Arkle Resources PLC https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Arkle Resources PLC RSS feed en Tue, 23 Jul 2019 18:25:42 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Posting of Annual Report and Notice of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20190627070005_14126171/ Thu, 27 Jun 2019 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20190627070005_14126171/ <![CDATA[News - Arkle Resources post full year results, anticipates interesting exploration programme this year ]]> https://www.proactiveinvestors.co.uk/companies/news/222652/arkle-resources-post-full-year-results-anticipates-interesting-exploration-programme-this-year-222652.html Arkle Resources PLC (LON:ARK) closed out 2018 with just over €100,000 in cash after booking a loss of €337,000 for the year to December.

The company subsequently raised €230,000 in March 2019.

WATCH: Connemara Mining looks to the future as Arkle Resources PLC

Chairman John Teeling spoke of the transition the company had made during the year, when it re-branded from Connemara Mining.

He also took an upbeat tone in regard to future prospects.

“In the near future we expect results from the ongoing work on the gold licences in Wicklow,” he said.  

“We anticipate new drilling targets will be identified in and around our existing discoveries at Tombreen and Knocknalour. The renewed interest in the Limerick basin is very welcome. Our partner at the Stonepark Zinc project, Group Eleven, is examining a range of options for Stonepark and their other surrounding licences. Good results from Mine River could lead to an enhanced drilling campaign.”

 

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Mon, 24 Jun 2019 08:17:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/222652/arkle-resources-post-full-year-results-anticipates-interesting-exploration-programme-this-year-222652.html
<![CDATA[RNS press release - Final Results for the Year Ended 31 December 2018 ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20190624070006_14120830/ Mon, 24 Jun 2019 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20190624070006_14120830/ <![CDATA[RNS press release - New Mineralisation at Stonepark Zinc Project ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20190507130001_14065063/ Tue, 07 May 2019 13:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20190507130001_14065063/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20190401161452_14024157/ Mon, 01 Apr 2019 16:14:52 +0100 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20190401161452_14024157/ <![CDATA[News - Connemara Mining becomes Arkle Resources as spread of activities widens ]]> https://www.proactiveinvestors.co.uk/companies/news/217011/connemara-mining-becomes-arkle-resources-as-spread-of-activities-widens-217011.html Connemara Mining Company PLC changed its name to Arkle Resources PLC (LON:ARK) with effect from the start of trading on Friday to reflect its growing spread of activities across Ireland. 

Patrick Cullen, chief executive, said: "Connemara Mining Company PLC was originally established to develop Irish zinc assets, we believe our rebranding will allow us to better represent the company's diversified position in both gold and zinc exploration and resource development and our geographical spread across Ireland.”

READ: Further drilling at Connemara Mining’s Stonepark zinc project could deliver a significant boost to the existing tonnage

“We look forward to focussing our attention on the Mine River gold project in the near term, while our joint venture partners advance our interests at our the two key zinc assets."

Shares in Arkle Resources held steady at 1.15p.

 -- Adds share price --

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Fri, 22 Mar 2019 08:19:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/217011/connemara-mining-becomes-arkle-resources-as-spread-of-activities-widens-217011.html
<![CDATA[RNS press release - Change of Name and Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20190321161002_14011406/ Thu, 21 Mar 2019 16:10:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20190321161002_14011406/ <![CDATA[Media files - Connemara Mining looks to the future as Arkle Resources PLC ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/12597/connemara-mining-looks-to-the-future-as-arkle-resources-plc-12597.html Thu, 14 Mar 2019 13:05:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/12597/connemara-mining-looks-to-the-future-as-arkle-resources-plc-12597.html <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20190312152458_13999520/ Tue, 12 Mar 2019 15:24:58 +0000 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20190312152458_13999520/ <![CDATA[RNS press release - Result of EGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20190312123730_13999292/ Tue, 12 Mar 2019 12:37:30 +0000 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20190312123730_13999292/ <![CDATA[News - Connemara Mining raises £230,000 to help fund exploration activities at Mine River gold project ]]> https://www.proactiveinvestors.co.uk/companies/news/215821/connemara-mining-raises-230000-to-help-fund-exploration-activities-at-mine-river-gold-project-215821.html Irish gold explorer Connemara Mining Company PLC (LON:CON) has raised £230,000 to help support ongoing exploration activities at its Mine River gold project in County Wexford.

Chief executive Patrick Cullen, finance director James Bill and non-executive director David Cockbill all put their hands in their pockets, buying a combined £25,000 worth of shares.

READ: Drilling on schedule at Connemara’s Stonepark zinc project

In total, 18.4mln new shares were issued to directors and other existing shareholders at 1.25p each.

For each share subscribed, investors received one warrant which can be exercised at a price of 1.8p at any time before 11 September 2020.

Connemara said it would provide more details at next week’s general meeting when it will propose changing its name to Arkle Resources PLC.

Shares rose 3.2% to 1.29p on Tuesday afternoon.

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Tue, 05 Mar 2019 13:09:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/215821/connemara-mining-raises-230000-to-help-fund-exploration-activities-at-mine-river-gold-project-215821.html
<![CDATA[RNS press release - Fundraising of £230,000 ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20190305123109_13990943/ Tue, 05 Mar 2019 12:31:09 +0000 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20190305123109_13990943/ <![CDATA[RNS press release - Proposed Change of Name ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20190212070007_13965663/ Tue, 12 Feb 2019 07:00:07 +0000 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20190212070007_13965663/ <![CDATA[News - Connemara Mining says drilling at the Stonepark Zinc Project continues to be on schedule ]]> https://www.proactiveinvestors.co.uk/companies/news/213271/connemara-mining-says-drilling-at-the-stonepark-zinc-project-continues-to-be-on-schedule-213271.html Connemara Mining Company PLC (LON:CON) has said drilling continues to be on schedule at the Stonepark Zinc Project, located in Limerick, Ireland, with the fourth hole currently underway.

The AIM-listed Irish gold and zinc exploration and development company added that analysis and interpretation of the drilling, which is being undertaken by its joint venture partner, Group Eleven Resources Corp, are expected by the end of the first quarter of 2019.

READ: Connemara Mining says the drilling rig is turning again at Stonepark

The company said that progress is also being made on the airborne geophysics survey being conducted by the government-sponsored Tellus survey.

It pointed out that the airborne survey is now 81% complete with flying to be completed by March or April, depending on weather and data expected to be available in the second or third quarter of 2019.

The firm also noted that Group Eleven plans to drill an additional hole on their PG West project which lies adjacent to the Stonepark licences.

Patrick Cullen, Connemara’s chief executive officer commented: " We look forward to the drilling results, and expect that the incorporation of new Tellus airborne data will lead to the identification of further targets on this highly prospective project.

"The strategic importance of Stonepark's location adjacent to the Pallas Green deposit should not be overlooked. These deposits remain Ireland's two largest undeveloped zinc-lead Resources by metal contained."

The Stonepark Zinc Project is a joint venture between Connemara (23.44% interest) and Group Eleven (76.56% interest).

Stonepark and the PG West projects are the largest and second largest undeveloped zinc-lead deposits in Ireland, one of the world's best mineralised zinc provinces and is considered highly prospective for new zinc discoveries.

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Thu, 24 Jan 2019 13:52:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/213271/connemara-mining-says-drilling-at-the-stonepark-zinc-project-continues-to-be-on-schedule-213271.html
<![CDATA[RNS press release - Exploration Update at Stonepark Zinc Project ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20190124130004_13945933/ Thu, 24 Jan 2019 13:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20190124130004_13945933/ <![CDATA[RNS press release - Change of Nominated Adviser and Broker ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20190121070008_13940475/ Mon, 21 Jan 2019 07:00:08 +0000 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20190121070008_13940475/ <![CDATA[News - Further drilling at Connemara Mining’s Stonepark zinc project could deliver a significant boost to the existing tonnage ]]> https://www.proactiveinvestors.co.uk/companies/news/208111/further-drilling-at-connemara-minings-stonepark-zinc-project-could-deliver-a-significant-boost-to-the-existing-tonnage-208111.html Lest anyone doubt it, the Irish mining scene is very much alive and kicking.

At Europe’s largest zinc mine, at Tara in County Meath, production is picking up again after a slight drop-off in the previous quarter as underground expansion continues. What’s more, Tara’s owners Boliden (STO:BOL) and Teck Resources (TSE:TECK.A) have also recently started exploration on the surrounding ground in the hope of proving up more metal.

READ: Connemara Mining says the drilling rig is turning again at Stonepark

Meanwhile, to the north, one of the largest mining companies on London’s Aim market, Dalradian, was this summer the subject of a now successfully concluded takeover bid by a US$4.5bn investment fund, Orion Mine Finance. Dalradian is looking to develop substantially a gold mine which will be the largest in the British Isles by some margin.

Elsewhere, Hannan Metals is drilling for zinc in County Clare and Glencore for zinc at the Pallas Green project in Limerick, in what could be potentially the second biggest mine in Ireland.

And across the tenement line, joint venture partners Connemara Mining (LON:CON) and Group Eleven Resources (CVE:ZNG) have been building the resource base at the Stonepark project to the point where it’s now known to contain 5.1mln tonnes at 11.3% zinc and lead combined with more to come.

“Stonepark is where we’d expect to see a lot of our newsflow coming from over the next few months,” says Connemara chief executive Patrick Cullen.

“Our best grades have been 25% zinc over 4.5 metres, or 32% zinc and lead combined. That’s really high grade in what we already knew was a high area. Now we have to follow it up.”

He notes that across the tenement line while the Pallas Green project has remained at roughly 42mln tonnes of mineralisation over the past few years the grade has been going up. That can only mean that Glencore has been finding higher grade ore as it has been going along, and jettisoning lower grade material from its resource calculation.

Repeating effect?

The thinking is that the same sort of effect might in time become apparent at Stonepark.

“Ours is only a maiden resource,” he says, “but anecdotally the two projects are very similar, they’re joined at the hip.”

First things first though, a rule of thumb for mineralisation like that on display at Stonepark is that 10mln tonnes at 10% are enough to justify a mine. Connemara is more than halfway there on the tonnage, and is already punching above the line in terms of grade. But more resource ounces would be welcome, and to that end, further drilling is now underway.

At this stage, Group Eleven as the operator is running a fairly limited campaign amounting to between 1,200 metres and 2,000 metres. The thinking is that this work will provide geological information that will be used in planning a much larger drilling campaign that’s slated for next year.

In support of that work, the government’s airborne geophysical survey, Tellus, is currently flying Limerick at the moment. The results say Cullen will help tie up a lot of piecemeal work undertaken over the years by Connemara, and provide pointers for future work.

Perhaps more intriguing even than the ongoing drilling and Tellus work is the hypothesis that is likely to drive the next major phase of exploration. The target is what Cullen calls the “hotspot,” the geological focus and source of all the mineralisation in the area, including Pallas Green.

There are good grounds for thinking that this hotspot might lie under the wider Stonepark licence, and Group Eleven is midway through an exercise it’s calling the “Big Think” in the course of which it plans to examine in depth all the geological data available on the area going back around 100 years.

All of which means there’s plenty to look forward to from Connemara in the coming months. There are other assets in the portfolio too, notably at Mine River and Inishowen, where exploration work and evaluation of the gold potential continues.

But for the immediate future, all eyes will be on Stonepark.

“We’re within budget, we’ve still got cash in the bank, we’re in the right place in terms of jurisdiction, and the right place to benefit if sentiment takes a turn for the better,” says Cullen.

He remains confident that Ireland is a great place to go mining. It’s not just a question of all the companies that are active. It’s also a question of cost.

At the current zinc price of US$2,700 per tonne or so he’s more than happy.

“In Ireland,” he says, “US$2,500 per tonne is a good price for zinc. We don’t need zinc to be at US$3,000 to be sustainable.

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Tue, 30 Oct 2018 10:56:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/208111/further-drilling-at-connemara-minings-stonepark-zinc-project-could-deliver-a-significant-boost-to-the-existing-tonnage-208111.html
<![CDATA[News - Connemara Mining says the drilling rig is turning again at Stonepark ]]> https://www.proactiveinvestors.co.uk/companies/news/207770/connemara-mining-says-the-drilling-rig-is-turning-again-at-stonepark-207770.html The Connemara Mining Company PLC (LON:CON) has announced that further drilling is in progress at its Stonepark zinc project in Limerick, Ireland.

Connemara, which as a 23.44% interest in the joint venture (JV) that holds the licence for the asset, said its JV partner, Group Eleven, plans to drill 1,500 to 2,000 metres in the latest phase of the drilling programme.

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

The drill collars are located outside of the established maiden mineral resource estimate for Stonepark and the aim of the latest drilling is to provide improved geological information as a prelude to the 2019 drilling campaign.

“We are very pleased to see the rig turning at Stonepark once again. We have reviewed the targeting strategies proposed by Group Eleven and are supportive of their 'Big Think' approach as it applies to the Limerick Basin,” said Patrick Cullen, the chief executive officer of Connemara.

"Connemara has already contributed to its share of the costs for the 2018 exploration programme, including ground-based geophysics at various targets across the block, the earlier drilling on hole G11-2638-01, which revealed spectacular grades of 32.2% combined zinc and lead, as well as the budget for this proposed programme," he added.

Shares in Connemara were unchanged in mid-afternoon trading.

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Wed, 24 Oct 2018 14:28:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/207770/connemara-mining-says-the-drilling-rig-is-turning-again-at-stonepark-207770.html
<![CDATA[RNS press release - Further Drilling at Stonepark Zinc Project ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20181024130001_13840947/ Wed, 24 Oct 2018 13:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20181024130001_13840947/ <![CDATA[Media files - Connemara Mining establishes maiden resource estimate at Stonepark venture ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/10637/connemara-mining-establishes-maiden-resource-estimate-at-stonepark-venture-10637.html Thu, 27 Sep 2018 10:49:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/10637/connemara-mining-establishes-maiden-resource-estimate-at-stonepark-venture-10637.html <![CDATA[News - Connemara Mining continues high activity levels on Irish metals portfolio, funded into 2019 ]]> https://www.proactiveinvestors.co.uk/companies/news/205714/connemara-mining-continues-high-activity-levels-on-irish-metals-portfolio-funded-into-2019-205714.html Connemara Mining Company PLC (LON:CON) ended the six months to June 2018 with €366,000 in the bank, after turning in a loss of €160,000.

Considering the amount of activity that the company undertook during the period, the relatively low losses speak of a company that is husbanding its resources well.

WATCH: Connemara Mining sees potential after mineralised zone discovered at Mine River

Among the highlights were the establishment of a high-grade maiden resource estimate at the Stonepark zinc joint venture, as well as active exploration and significant progress across four projects.

The cash in the bank will now see Connemara through its budgeted activities and joint venture commitments until 2019.

Chief executive Patrick Cullen said that the company expects “a steady flow of drilling and other assay results over the coming months”. 

Work continues across several projects.

“We are working on an updated exploration model at the Mine River gold project,” said Cullen. 

WATCH: Connemara establishes maiden resurce estimate at Stonepark

“Field mapping and sampling at the Inishowen Gold Project in the Dalradian rocks of Donegal has revealed fresh exposures in the Cloncha area with visible copper-bearing malachite. At the Oldcastle zinc project, Teck Ireland Ltd. has completed two drill holes and is currently drilling a third hole which is due to be completed later this month. 

Elsewhere, fellow zinc junior Group Eleven Resources (CVE:ZNG) is re-evaluating seismic and drill data on the Stonepark zinc project.  

The resource estimate established earlier this year at Stonepark showed ran to a grade of 11.3% lead and zinc combined and is open eastwards in the Stonepark North area.

 More drilling is planned.

 

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Wed, 26 Sep 2018 07:29:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/205714/connemara-mining-continues-high-activity-levels-on-irish-metals-portfolio-funded-into-2019-205714.html
<![CDATA[RNS press release - Interim Report ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180926070002_13804493/ Wed, 26 Sep 2018 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180926070002_13804493/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180730070009_13735205/ Mon, 30 Jul 2018 07:00:09 +0100 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180730070009_13735205/ <![CDATA[RNS press release - Results of Annual General Meeting ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180725133208_13731194/ Wed, 25 Jul 2018 13:32:08 +0100 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180725133208_13731194/ <![CDATA[RNS press release - Director/PDMR shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180705070007_13706322/ Thu, 05 Jul 2018 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180705070007_13706322/ <![CDATA[News - Connemara Mining shares gain as it recommences drilling at Oldcastle zinc project ]]> https://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 https://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 ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180704070004_13704574/ Wed, 04 Jul 2018 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180704070004_13704574/ <![CDATA[RNS press release - Posting of Annual Report and Notice of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180629070001_13698347/ Fri, 29 Jun 2018 07:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180629070001_13698347/ <![CDATA[Media files - Connemara Mining sees potential after mineralised zone discovered at Mine River ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180625112302_13692233/ Mon, 25 Jun 2018 11:23:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180625112302_13692233/ <![CDATA[News - Connemara Mining “well positioned” to move ahead in new financial year ]]> https://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 https://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 ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180622070003_13689571/ Fri, 22 Jun 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180622070003_13689571/ <![CDATA[News - Connemara reveals encouraging results from first new hole at Stonepark Zinc Project ]]> https://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.

]]>
Mon, 18 Jun 2018 14:48:00 +0100 https://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 ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180618130112_13683778/ Mon, 18 Jun 2018 13:01:12 +0100 https://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 ]]> https://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.

]]>
Tue, 24 Apr 2018 06:34:00 +0100 https://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 ]]> https://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.

 

]]>
Mon, 23 Apr 2018 07:22:00 +0100 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180417145802_13608002/ Tue, 17 Apr 2018 14:58:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180417145802_13608002/ <![CDATA[RNS press release - UK Investor Show 21st April 2018 ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180417070008_13606691/ Tue, 17 Apr 2018 07:00:08 +0100 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180417070008_13606691/ <![CDATA[News - Connemara Mining re-commences drilling at its Mine River Gold project in Ireland ]]> https://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 https://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 ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180328070005_13584054/ Wed, 28 Mar 2018 07:00:05 +0100 https://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 ]]> https://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 https://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 ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180326070003_13580219/ Mon, 26 Mar 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180326070003_13580219/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180321105020_13575584/ Wed, 21 Mar 2018 10:50:20 +0000 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180321105020_13575584/ <![CDATA[RNS press release - Investor Presentation ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180316141409_13570544/ Fri, 16 Mar 2018 14:14:09 +0000 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180316141409_13570544/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180315162312_13568980/ Thu, 15 Mar 2018 16:23:12 +0000 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180315162312_13568980/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180315094406_13568168/ Thu, 15 Mar 2018 09:44:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/240/LSE20180315094406_13568168/ <![CDATA[News - Connemara Mining excited to see drilling started at Stonepark Zinc project ]]> https://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 https://www.proactiveinvestors.co.uk/companies/news/192905/connemara-mining-excited-to-see-drilling-started-at-stonepark-zinc-project-192905.html