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.