New Gold Outcrop Discovery

RNS Number : 6866E

Conroy Gold & Natural Resources PLC

22 October 2018

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

22 October 2018

Conroy Gold and Natural Resources plc

("Conroy Gold" or "the Company")

NEW GOLD OUTCROP DISCOVERED BETWEEN CLONTIBRET GOLD DEPOSIT AND CORCASKEA GOLD TARGET

Highlights:

·    New area of bedrock gold mineralisation discovered.

·    5.6 g/t gold returned from surface rock chip sample.

·    Halfway between bedrock mineralisation at Clontibret deposit and Corcaskea target which are 535 metres apart.

·    Continuity between Clontibret deposit and Corcaskea target is becoming established.

Conroy Gold and Natural Resources plc (AIM: CGNR), is pleased to report the discovery of a new area of bedrock gold mineralisation halfway between the Clontibret gold deposit and the Corcaskea gold target in Ireland.

The gold outcrop discovered during prospecting has a grade of 5.6 g/t gold. The outcrop lies to the north of the Clontibret gold deposit on which the Company has defined a JORC resource of 517,000 ounces gold (announced 28 July 2017) and to the south of the Corcaskea gold target which has yielded significant gold intersections in trenches, including 16.5 metres at 6.5 g/t gold and 12 metres at 4.9 g/t gold.

Geological interpretation suggests continuity between the Clontibret gold deposit, which is open in all directions and to depth, and the Corcaskea gold target, is becoming established.

A direct link between the Clontibret gold deposit and the Corcaskea gold target could indicate significantly increased gold potential in the area.

Further Information

The new gold mineralisation was discovered c. 275 metres (Northeast) from the nearest drill hole in the Clontibret gold deposit and c. 260 metres (Southwest) from the nearest trenching in the Corcaskea gold target area.

http://www.rns-pdf.londonstockexchange.com/rns/6866E_1-2018-10-21.pdf

This release has been approved by Kevin McNulty PGeo, who is a member of the Company's technical staff and holds a BSc/MSc in Geology and Remote Sensing, in accordance with the guidance note for Mining, Oil & Gas Companies issued by the London Stock Exchange in respect of AIM Companies, which outlines standards of disclosure for mineral projects.

Professor Richard Conroy, Chairman commented: 

"The discovery is an exciting development and with the possibility of a direct link between the Clontibret gold deposit and the Corcaskea gold target is a further strong indication of the overall gold potential of the 17km (10 mile) Clontibret - Clay Lake - Glenish gold district.  We are working to both increase the overall resource of the licence area and to develop a mine, initially at Clontibret where we have the current defined JORC resource."

For further information please contact:

Conroy Gold and Natural Resources plc	Tel: [phone]
Professor Richard Conroy, Chairman
Allenby Capital Limited (Nomad)	Tel: [phone]
Virginia Bull/Nick Harriss
Brandon Hill Capital Limited (Broker)	Tel: [phone]
Jonathan Evans
Lothbury Financial Services	Tel: [phone]
Michael Padley
Hall Communications	Tel: [phone]
Don Hall

Visit the website at: www.conroygold.com

 

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