Work in the half-year to November on its licences on the Orlock Bridge Fault confirmed gold bedrock in target area 4, a new gold zone in area 1 and gold mineralisation between the Clontibret deposit and Corcaskea site.
This latter development is particularly significant said Conroy, as it suggests there may be a continuous zone of gold mineralisation between these two deposits.
Richard Conroy, chairman added: “The drill programme has confirmed our belief in multi-million-ounce gold exploration targets on the 65 Kilometre (40 mile) district-scale gold trend we have discovered.
“We intend to actively continue and accelerate our development and exploration programme along the trend including our first gold mine and to this end we are in talks with a number of potential partners."
Losses after tax were €278,000 in the half-year during which Conroy raised €350,000.
Earlier this month, the junior raised an additional €300,000.