logo-loader
viewArkle Resources PLC

Connemara Mining says the drilling rig is turning again at Stonepark

The NI43-101 independent report on Stonepark report defines a maiden inferred mineral resource of 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 the surface

Zinc chemical symbol
The most recent drill hole (in June) intersected 5.40m of 25.0% zinc and 7.2% lead

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.

Quick facts: Arkle Resources PLC

Price: 0.9375 GBX

AIM:ARK
Market: AIM
Market Cap: £2.03 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Arkle Resources PLC named herein, including the promotion by the Company of Arkle Resources PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Arkle Resources welcomes closer relationship with Glencore following partner...

Arkle Resources PLC's (LON:ARK) Patrick Cullen speaks to Proactive London's Andrew Scott after the news that FTSE 100-listed mining giant Glencore PLC (LON:GLEN) invested in Group Eleven Resources, the group's Canadian partner in Stonepark. He says the investment and confirmation of further...

2 weeks, 3 days ago

2 min read