FURTHER SIGNIFICANT INTERCEPTS AND GRADES AT CLONTIBRET GOLD DEPOSIT
Conroy Gold and Natural Resources plc (AIM: CGNR), the gold exploration and development Company focused on Ireland and Finland is pleased to report further significant intersections from the ninth and tenth drill holes completed in the current drilling programme on the Company’s 100% owned Clontibret gold deposit.
Significant gold intercepts and grades – Drill Holes 9 and 10
Drill Hole 9
• 2.0m @ 7.9 g/t Au from 38.0m
• 1.6m @ 4.8 g/t Au from 100.4m
• 2.3m @ 2.3 g/t Au from 128.7m
Drill Hole 10
• 3.0m @ 4.5 g/t Au from 16.5m
• 1.5m @ 3.2 g/t Au from 24.5m
• 2.9m @ 2.2 g/t Au from 76.1m
Drill hole 9 intersected nine gold lodes. Drill hole 10 intersected six gold lodes. Two of these gold lodes were intersected by both drill holes, which are over 150 metres apart, thus showing continuity of the two gold lodes.
The drilling programme has been focused on the Clontibret gold deposit in the Clontibret – Clay Lake – Glenish gold target where a JORC compliant resource of 517,000 ounces (announced by the Company on 28 July 2017) of gold is defined on 5% of the Clontibret – Clay Lake – Glenish gold target.
The Company has now completed 1,768 metres of drilling in the expanded drill programme (announced by the Company on 14 June 2018) on the Clontibret gold deposit.
The drilling was undertaken with the objective of upgrading the mineral resource at Clontibret and thereby accelerating development on the Company’s Irish gold property with a focus on commercialisation of its significant Clontibret – Clay Lake – Glenish gold target 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).
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:
“The further significant intercepts and grades bring to a successful conclusion the 10 drill hole, 1,700 metre programme at Clontibret, as the Company moves forward to demonstrate the potential size of the Clontibret – Clay Lake – Glenish gold target in the northeast of the Company’s 700km2 licence area”
Drilling completed successfully on holes 9 and 10 which were designed to test infill and extensions of gold lodes
1,768 metres of drilling now completed in the current programme, increasing the metres drilled in the resource area by 16 per cent and finalizing the planned expanded drill programme
Only those mineralised intercepts exceeding 2 gram-metres gold have been reported.
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