THIS ANNOUNCEMENT
CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF
THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.
29 July
2021
Conroy Gold and Natural Resources plc
(“Conroy Gold” or “the Company”)
Discovery of
Extensive New Gold Target in Longford-Down Massif
Update on Drilling
Programmes on Other Licences
- Approximately 40 acres in extent (c.700 x c.250
metres)
- Trend similar to gold lodes in Clontibret Gold
Deposit
- Drilling programme on other licences continues
Conroy Gold and Natural Resources
plc (AIM: CGNR), the gold exploration and development Company
focused on Ireland and
Finland, is pleased to announce
the discovery of a new extensive gold-in-soil anomaly on its
licence area in the Longford-Down Massif in Ireland, where it has discovered a district
scale gold trend.
The newly discovered gold-in-soil target lies between the
Company’s Derryhennet gold target, where drilling and trenching
have identified significant grades and widths of gold-in-bedrock,
and the site where the Clay Lake Gold nugget was discovered in the
1980s, with a weight of 30.05g and gold content of 28g
(http://www.conroygoldandnaturalresources.com/sites/default/files/190613ch027.jpg).
The anomaly covers an area of approximately 40 acres (c.700
metres by c.250 metres) and trends north northwest – south
southeast. It is aligned on a similar trend to the gold lodes
in the Clontibret gold deposit where the Company has a (JORC 2012)
gold resource of 517,000 ounces Au (320,000 oz Au indicated and
197,000 oz Au inferred).
The discovery was made during a detailed follow up soil sampling
programme, totalling over 100 soil samples, to a regional sampling
programme which had yielded three samples with elevated (above
10ppb Au) gold-in-soil levels, (anomalies greater than 10ppb
gold-in-soil in the Longford-Down Massif tend to be associated with
gold-in-bedrock). The follow up sampling programme identified a
further fifteen samples above 10 ppb Au including one with a very
high value of 92ppb Au.
The discovery adds further to the series of gold targets in the
north-eastern area of the Company’s licences in the Longford – Down
Massif on which an exploration target (JORC 2012) of 8.8 Million
ounces Au has been estimated (announced 2
August 2018), in addition to the already defined JORC
compliant gold resource of 517,000 ounces Au referred to above.
The Company’s drilling programme in the Longford – Down Massif
also continues. Results are awaited from drilling at Clontibret and
Cargalisgorran. Drilling has also been completed on licence PL1870
and core samples will shortly be sent for analysis. Drilling is in
progress on licence PL2683.
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:
“This discovery highlights the
continued potential for new gold discoveries on the Company’s
licences in the district scale gold trend which it has discovered
in the Longford-Down Massif. The new anomaly is in addition to the
series of potentially multi million ounce gold targets already
discovered by the Company along the trend.
I look forward to receiving the
results from the ongoing drilling programme on the Company’s
licences and to the proposed joint venture with Demir Export A.S.
(“Demir Export”) progressing to final documentation.”
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 |
Nick Athanas/Nick
Harriss |
|
First Equity Limited
Jason Robertson
Lothbury Financial Services |
Tel: +44-20-7330-1883
Tel: +44-20-3290-0707 |
Michael Padley |
|
Hall
Communications |
Tel: +353-1-660-9377 |
Don Hall |
|
Visit the website at: www.conroygold.com