31 March
2016
Conroy Gold and Natural Resources plc
(“Conroy” or “the Company”)
TARGETING 5
MILLION OZ OF GOLD AT CLAY LAKE – CLONTIBRET
- Clay Lake and Clontibret Targets To Be Combined
- Clontibret Over 0.6 million Oz Of Gold (JORC Compliant)
Previously Established
- Clay Lake Gold Anomaly Now Extends Over 200 Hectares (c500
acres)
- Exploration Target Of 5 Million Oz Of Gold is Conceptual in
Nature
Conroy Gold and Natural Resources
plc (AIM: CGNR, ESM: CGNR.I), the gold exploration and development
company focused on Ireland and
Finland, is pleased to announce
that a quantitative risk assessment by independent consulting
geologist, Professor Garth Earls,
has established a combined Exploration Target of 5 million oz of
gold at the Company’s adjacent Clay Lake and Clontibret gold
targets.
A JORC compliant resource of over 0.6 million oz Au, using a
minimum mining width of 2 metres and a cutoff grade 0.6 g/t Au has
already been established on 20% of the geochemical target at
Clontibret. The mineralisation at Clontibret remains open along
strike, at depth and over the remaining 80% of the geochemical
target area.
The adjacent Clay Lake geochemical target has recently been
shown to be approximately 3km in length, up to 2km in width and to
have a surface area of over 200 hectares (c500 acres). The results
of structural studies and wide zones of gold mineralisation already
reported indicate the potential for high tonnage and overall gold
content at Clay Lake.
This Exploration Target of 5 million oz of gold is, however,
conceptual in nature as the combined Clay Lake and Clontibret
target requires further drilling and there can be no certainty that
future resource estimates for the project will achieve the
Exploration Target.
This release has been approved by Kevin McNulty PGeo, who is a
member of the Company’s technical staff who 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 establishment of a combined exploration target of 5 million
oz of gold at Clay Lake – Clontibret is a major step forward for
the Company, at a time when the price of gold is also rising
again”.
For further information, please contact:
Conroy Gold and
Natural Resources plc |
Tel:
+353-1-661-8958 |
Professor Richard
Conroy, Chairman |
|
Allenby Capital
Limited (Nomad) |
Tel:
+44-20-3328-5656 |
Virginia Bull/Simon
Clements |
|
Hybridan LLP
(Broker) |
Tel:
+44-20-3764 2341 |
Claire Louise
Noyce/Niall Pearson/William Lynne |
|
IBI Corporate
Finance Limited (ESM Adviser) |
Tel:
+353-766-234-800 |
Ger Heffernan / Jan
Fitzell |
|
Lothbury Financial
Services |
Tel:
+44-20-3290-0707 |
Michael Padley |
|
Hall
Communications |
Tel:
+353-1-660-9377 |
Don Hall |
|
Visit the website at:
www.conroygold.com