Connemara Mining Company plc Oldcastle Drilling (2999O)
November 04 2016 - 3:00AM
UK Regulatory
TIDMCON
RNS Number : 2999O
Connemara Mining Company plc
04 November 2016
4(th) November 2016
Connemara Mining Company plc ("Connemara")
Oldcastle Drilling
Connemara (AIM: CON) is pleased to announce that a drill rig has
arrived on site to commence further testing of the Springhall
target within the Oldcastle Block located on the Meath/Cavan border
in Ireland. The tenure is prospective for zinc/lead. Our Joint
Venture partner, Teck Ireland Ltd ("Teck"), has outlined
structural, alteration and mineralization evidence which contribute
to upgrading this target. The new drill hole, TC-1991-003, is
targeted over 1km to the southwest of holes TC-1991-002 &
TC-3926-002, which were drilled earlier this year and intersected
altered and mineralized zones within the Upper Sandstone Unit. The
Upper Sandstone Unit is an important host to the SWEX zone at Tara
Mine in Navan, 20km to the SE.
The Oldcastle block of five licences is being explored by Teck
in an option agreement with Connemara, under the Oldcastle Zinc Ltd
vehicle. Teck has earned into a 51 per cent interest in the block
by spending EUR550,000 and is increasing that towards 75 per cent
by spending a further EUR800,000.
Connemara is an active exploration company with principal assets
in gold, zinc and lead exploration licences in Ireland. The company
holds interests in 34 licenses covering an area of approximately 1,
290 sq km.
This announcement has been reviewed and approved by Graham Reid
(P.Geo) in his capacity as the Qualified Person for the purposes of
the AIM Guidance Note for Mining, Oil and Gas Companies issued by
the London Stock Exchange. Mr Reid is a Professional Member of The
Institute of Geologists of Ireland (IGI) and The Society of
Exploration Geophysicists (SEG) and has over 30 years' experience
in mineral exploration and site investigation fields.
This announcement contains inside information for the purposes
of Article 7 of Regulation 596/2014.
Enquiries:
Connemara Mining Company
Plc
John Teeling, Chairman +353 1 833 2833
Jim Finn, Director
Northland Capital Partners
Limited
William Vandyk/Gerry +44 (0) 20 3861
Beaney 6625
John Howes
Dowgate Capital Stockbrokers
Limited
Jason Robertson +44 (0) 1293 517744
+44 (0) 20 7138
Blytheweigh 3204
+44 (0) 7816 924
Tim Blythe 626
+44 (0) 7817 841
Camilla Horsfall 793
+44 (0) 7831 851
Nick Elwes 855
Rachael Brooks
PSG Plus
Colm Heatley +353 1 661 4055
Alan Tyrrell +353 1 661 4055
www.connemaramining.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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