Connemara Mining Company plc (LON:CON) Overview & Broker Notes

 

Connemara is a base and precious metals exploration company focussed on Ireland.  The company was established in 2004 by veterans with 40 years’ experience gained in the exploration and mining industry in Ireland and elsewhere, and gained admission to the London Stock Exchange in 2007.

Connemara has not only been able to maintain interests in a number of key licences blocks throughout the downturn in metal commodities demand following listing, but also has recently been active in accessing new licences.

The company holds interests in forty-one prospecting licences throughout Ireland, of which eighteen licences are 100% owned.  Joint venture partners have earned in on the remainder.

 

Project Overview

 

Stonepark (zinc) Six contiguous prospecting licences in County Limerick. Connemara and Teck made a significant zinc discovery at Stonepark in Limerick in 2007. The discovery is adjacent to the Glencore Pallas Green deposit containing 42 million tonnes of 8% combined zinc/lead. Two additional discoveries were made, Stonepark North and Stonepark West. TSX-listed Group Eleven Resources have recently acquired Teck’s 76.56% stake and work is expected to re-commence in Q1 2018. Connemara holds 23.44% of the joint venture company.

Inishowen (gold) Eleven licences on the Donegal peninsula of Inishowen.  Successive exploration campaigns have identified a series of parallel gold bearing veins in a small area.  Initial drilling intercepted 4.82 m @ 5.48g/t over 2 high grade narrow veins.

Mine River (gold) Eleven licences in Wexford and Wicklow.  Connemara holds an extensive gold database. December 2017 drilling confirmed exciting grades at Tombreen (16.1 g/t gold over 2 metres)

Oldcastle (zinc) Five contiguous licences located in counties Cavan and Meath, with strong drilling results from earlier drilling. The geology is similar to Tara Mines 20 km away. Joint venture with Teck who are spending €1.35m for 75%.  Seismic completed and 4 holes drilled with encouraging results.

Derrykearn (zinc) Six licences in total, five contiguous licences in County Laois and one licence to the south in County Kilkenny.  The licences lie to the east and northeast of the Galmoy lead-zinc mine, and are located on the Rathdowney Trend.

Ladyswell (zinc) Two contiguous licences in West Cork, south of Clonakilty.  The licences surround the site of an historic baryte mine and numerous historic occurrences of base metals, including zinc, are recorded in the area.  Initial work will consist of mapping, sampling and assay of mineral occurrences.

 

Broker Notes

 

 

 

Eleven-page document: LINK 

 

 



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