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.