Connemara Mining (LON:CON)

Connemara Mining (LON:CON)


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Connemara Mining RNS Release

Further Drilling at Stonepark Zinc Project


RNS Number : 0592F
Connemara Mining Company plc
24 October 2018
 

24 October 2018

 

Connemara Mining Company plc

 

("Connemara" or the "Company")

 

Further Drilling at Stonepark Zinc Project

 

Connemara Mining Company plc (LON:CON), the Irish gold and zinc exploration and development company, is pleased to announce that further drilling is underway at the Stonepark Zinc Project, located in Limerick, Ireland, which is being undertaken by our joint venture partner Group Eleven Resources Corp. ("Group Eleven").

 

Highlights

 

-     1,500 to 2,000 metres planned in this phase

-     Drill collars are located outside of the established Maiden Mineral Resource Estimate

-     Aim is to provide improved geological information prior to expanded 2019 drill program

 

Patrick Cullen, Chief Executive Officer of Connemara, commented, "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.

 

"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. We are looking forward to progress over the coming months."

 

Stonepark Zinc Project

The Stonepark Zinc Project is a joint venture between Connemara (23.44% interest) and Group Eleven (76.56% interest). The NI43-101 independent report on Stonepark has been uploaded to SEDAR by partner Group Eleven and a copy of this report is available on the Connemara website.

 

The report defines a maiden Inferred Mineral Resource at Stonepark, totalling 5.1 million tonnes at 11.3% zinc and lead combined (8.7% Zn and 2.6% Pb), occurring at depths from 190m to 395m below surface.

 

Glencore's nearby Pallas Green deposit contains 44.2 million tonnes at 8.4% zinc and lead combined (7.2% Zn and 1.2% Pb) in the Inferred Category (source: Glencore Resources & Reserves, 31 December 2017), occurring at depths from 300m to 1,300m below surface.

 

Based on the above disclosures, the Stonepark deposit is shallower and higher-grade than the Pallas Green deposit.

 

The most recent drill hole (G11-2638-01, reported 18 June 2018) intersected 5.40m of 25.0% zinc and 7.2% lead (32.2% Zn+Pb combined) and 12.2 g/t silver (from a depth of 234.05m with true width estimated at 4.9m), verifying one of the high-grade zones within the Stonepark Mineral Resource Estimate.

 

This announcement has been reviewed and approved by Gavin Berkenheger (CGeol) in his capacity as the Qualified Person for the purposes of the AIM 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.

 

 

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

 

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 39 licences, including joint ventures with Teck Ireland Ltd. at the Oldcastle Zinc Project and with Group Eleven Resources Corp. at the Stonepark Zinc Project.

 

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 / Edward Hutton

+44 (0) 203 861 6625

Isabella Pierre




First Equity Limited


Jason Robertson

+44 (0) 207 374 2212



Blytheweigh

+44 (0) 207 138 3204

Julia Tilley

+44 (0) 781 506 8387

Simon Woods

+44 (0) 746 643 9633



Teneo PSG


Luke Hogg

+353 (0) 1 661 4055

Alan Tyrrell

+353 (0) 1 661 4055

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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