Conroy Gold & Natural Resources PLC EXTENSIVE GOLD INTERSECTION CLAY LAKE GOLD TARGET (9519F)
November 01 2018 - 3:00AM
UK Regulatory
TIDMCGNR
RNS Number : 9519F
Conroy Gold & Natural Resources PLC
01 November 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.
1 November 2018
Conroy Gold and Natural Resources plc
("Conroy Gold" or "the Company")
EXTENSIVE GOLD INTERSECTION AT CLAY LAKE GOLD TARGET
Highlights:
-- 52.5m grading 0.5 g/t Au intersected from 108.5m depth
-- 18.0m grading 0.6 g/t Au intersected from 240.0m (including 2.0m grading 2.7 g/t Au)
-- Mineralisation grading 0.3 g/t Au over 150.5m interval from 108.5m depth
Conroy Gold and Natural Resources plc (AIM: CGNR), the gold
exploration and development Company focused on Ireland and Finland
is pleased to report an extensive gold intersection from a drill
hole completed in the north eastern end of its Clay Lake gold
target. This intersection is strong evidence of a very large gold
mineralising system in the Clay Lake area.
The gold intersection extends for 150.5 metres at 0.3g/t gold.
This wide gold intersection adds to previous drilling and trenching
results which suggest potential for high tonnage and overall gold
content in the Clay Lake gold target.
The intersection of 2 metres at 2.7 g/t gold at a downhole depth
of 252 metres (199 metres vertical depth) is the deepest
intersection to date on the Clay Lake gold target which remains
open in all directions as well as to depth.
This drill hole at the north eastern end of the Clay Lake gold
target follows on a series of 10 drill holes in the Clontibret gold
deposit and forms part of an overall drilling programme
encompassing the 17km long gold district of the Clontibret - Clay
Lake - Glenish gold target in the northeast of Company's licence
area on which an updated exploration target of 8.8 million ounces
gold (excluding the 517,000 ounce Clontibret deposit) has been
estimated (announced by the Company on 2 August 2018).
The drill hole also intersected elevated silver - 28.8 metres at
0.9g/t Ag from 112.5 metres suggesting the possibility of a
different metallurgy from that seen in the Clontibret gold
deposit.
Additional Detail
The Clay Lake gold target covers an area of over 200 Ha (c.500
Acres), and is nearly 3km in length and, in places, 2km wide. The
gold mineralisation comes to surface in the Clay Lake gold target
both in the north eastern end of the target where trenching has
intersected 5 metres at 3.0g/t gold and in the south western end of
the target where trenching has intersected 12 metres at 2.2g/t gold
c.2km apart.
The drill hole was drilled at an angle of 52 degrees and was 325
metres in length to a vertical depth of c.256 metres. The drill
hole intersected a black shale stockwork zone and lode style
mineralisation.
Drill Hole Intersections
-- 150.5m @ 0.3 g/t Au from 108.5m
-- Including 52.5m @ 0.5 g/t Au from 108.5m
-- Including 18.0m @ 0.6 g/t Au from 240.0m (Including 2.0m @
2.7 g/t Au from 252.0m)
-- 28.8m @ 0.9 g/t Ag from 112.5m
http://www.rns-pdf.londonstockexchange.com/rns/9519F_1-2018-10-31.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:
"It is very encouraging to see such a wide intersection giving
the potential for high tonnage and overall gold content in a target
that is 3km in length and where we have also intersected high
grade. It is also pleasing to see the extension of the
mineralisation at depth to 200m."
For further information please contact:
Conroy Gold and Natural Resources plc Tel: +353-1-479-6180
Professor Richard Conroy, Chairman
Allenby Capital Limited (Nomad) Tel: +44-20-3328-5656
Virginia Bull/Nick Harriss
Brandon Hill Capital Limited (Broker) Tel: +44-20-3463-5000
Jonathan Evans
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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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