Conroy Gold and Natural Resources PLC (LON:CGNR) has commenced its 2021 drilling programme at Clontibret in County Monaghan, Ireland.
The first drill holes of the programme will form part of the ongoing work programme, planning and due diligence for the company’s proposed joint venture partnership with Demir Export AS.
The Clontibret gold target is one of a series of potentially multimillion ounce gold targets located along the 65 kilometre district scale gold trend which Conroy has discovered in the Longford-Down Massif in Ireland.
The project already boasts a resource of 517,000 ounces of gold.
The primary focus of the joint venture project is the development of the gold deposit at Clontibret.
The joint venture with Demir Export remains subject to the completion of due diligence and entering into of definitive documentation including the final joint venture agreement.
Some of the current drilling programme at Clontibret will form part of the technical due diligence process and assist with the planning of the proposed joint venture work programme.
In this context, Demir Export has appointed consultants to facilitate carrying out work on the ground in Ireland, allowing that travel and other restrictions remain in place.
Demir Export is a long established mining company with interests in iron, coal, gold and base metals, including zinc and copper, and has a strong in-house technical team with mining and exploration expertise.
“I am delighted that drilling has commenced at Clontibret,” said Conroy Gold’s chairman Professor Richard Conroy.
“We believe that Demir Export has the mining expertise and the financial resources not only to bring the Clontibret gold deposit to construction ready status and into operation as a mine, but also to advance the significant gold potential of the other licences along the gold trend to the same status.”