Connemara Mining Company plc Five New Lead/Zinc Properties in Irish Midlands (0775B)
March 31 2017 - 2:00AM
UK Regulatory
TIDMCON
RNS Number : 0775B
Connemara Mining Company plc
31 March 2017
31(st) March 2017
Connemara Mining Company plc ("Connemara")
Five New Lead/Zinc Properties in the Irish Midlands
Connemara Mining is pleased to announce the acquisition of five
new prospecting licences in County Laois, in the Irish Midlands.
The properties lie along the 'Rathdowney Trend' north east of the
former Galmoy and Lisheen zinc-lead mines and include the Tonduff
and Derrykearn lead-zinc orebodies. Connemara believes a fresh look
may reveal new ore zones along one of Ireland's most significant
lead zinc trends.
Derrykearn Discovery
Discovered in 1977 by Athlone Prospecting and Development who
intersected 2m of 3% pyrite with 0.2% zinc. In 1984 Ennex
discovered more intense and extensive sulphide mineralisation in
the form of massive and disseminated "pseudo" breccia hosted
pyrite/sphalerite/galena at shallow depths (20 - 50m). The best
intersection was Hole 1650-11 with 5.95m grading 13.3% zinc / 3.2%
lead. Follow up work by Ennex and Ivernia West extended the
mineralisation but concluded at that time that it was
sub-economic.
Tonduff Discovery
Discovered by Chevron Mining in 1987. It consists of
disseminated and fractured sulphides hosted by Black Matrix
Breccias, within the Waulsortian Reef. It is a low-grade deposit
and could be modelled as being on the edge of a larger zinc-lead
mineralising system. Hole 1989-91 had a number of thin intervals
c.0.25m thick grading between 1.5 - 2.0% zinc / 0.3% lead.
John Teeling, chairman, commented "This is good ground in a good
trend at a good time for zinc. In the 25 years since these licences
were explored exploration technology has improved as has our
understanding of the Irish zinc province. There is potential.
Zinc is in short supply at present, reflected in a doubled price
per ton in the past year. At a price of $2,500 a ton, a zinc
discovery would be very valuable."
Connemara is a diversified exploration company with principal
assets in gold, zinc and lead exploration licences in Ireland. The
Company holds interests in 35 licences covering an area of
approximately 1, 350 sq km.
This announcement has been reviewed and approved by Gavin
Berkenheger (CGeol) 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.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
Enquiries:
Connemara Mining Company
Plc
John Teeling, Chairman +353 (0) 1 833 2833
Jim Finn, Director
Gavin Berkenheger, +44 (0) 784 145
Director 5632
Northland Capital Partners
Limited
Matthew Johnson / Gerry +44 (0) 203 861
Beaney 6625
John Howes
Dowgate Capital Stockbrokers
Limited
+44 (0) 129 351
Jason Robertson 7744
+44 (0) 207 138
Blytheweigh 3204
+44 (0) 781 692
Tim Blythe 4626
+44 (0) 781 784
Camilla Horsfall 1793
+44 (0) 783 185
Nick Elwes 1855
+44 (0) 207 138
Kristina Kazerani 3206
Rachael Brooks
PSG Plus
Ciaran Flynn +353 (0) 1 661 4055
Alan Tyrrell +353 (0) 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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