Conroy Gold and Natural Resources PLC (LON:CGNR) has identified new geological and structural features on the Clontibret gold project which it says are important in regard to controls on high gold grades within the deposit.
The geophysical survey centred on the Clontibret gold target area where the company proposes to develop its first gold mine.
The Clontibret target is one of a series of gold targets on the 65 kilometre district-scale gold trend that the company has discovered, and has been granted licences over, in the Longford-Down Massif in Ireland.
The ground geophysical survey which comprised both induced polarization and resistivity amounted to around 2,000 metres in four lines, starting in the west of the Clontibret gold deposit. Each line ran for around 500 metres, in a north-south orientation.
The company said the ground geophysical survey enhanced, in particular, geological interpretations in regard to fold axial traces, lithological contacts and faulting, all of which are important factors in regard to the controls on the high gold grades intersected at Clontibret.
“The results of the geophysical survey in conjunction with the drilling results post the resource estimate being completed are very encouraging, particularly in relation to tracking the higher gold grades within the Clontibret gold deposit,” the group's chairman Professor Richard Conroy said in a statement.