Drilling Starts on Oldcastle Block

RNS Number : 5114W

Connemara Mining Company plc

10 November 2014

 



10th November 2014

Connemara Mining Company plc ("Connemara")

Drilling Starts on Oldcastle Block

Connemara (AIM: CON) is pleased to announce that Teck Ireland Ltd. ("Teck") has started drilling at the Oldcastle Block of licences in Cavan and Meath.  The target is based on a combined model derived from geology, soil and litho-geochemistry and geophysics (including the extensive reflection seismic lines from 2013). The target is Pale Beds hosted base metals, principally zinc and lead, with an estimated target depth of greater than 400m.  Follow up drilling will be dependent on results from this initial hole.

The Oldcastle block of five licences is being explored by Teck under an option agreement with Connemara, the licence holder. Teck is earning into a 51 per cent interest in the block by spending €550,000 before December 30^th, 2014 with an option to earn 75 per cent by spending a further €800,000.

Connemara is a diversified exploration company with principal assets in base metal zinc/lead exploration licenses as well as shear hosted gold exploration licenses in Ireland.  The company holds interests in 30 licenses covering an area of approximately 1, 169 sq km.

This announcement has been reviewed and approved by the Company's technical director Graham Reid (P.Geo) in his capacity as the Qualified Person for the purposes of the AIM Guidance Note for Mining, Oil and Gas Companies issued by the London Stock Exchange.  Mr Reid is a Professional Member of The Institute of Geologists of Ireland (IGI) and The Society of Exploration Geophysicists (SEG) and has over 30 years' experience in mineral exploration and site investigation fields.

Enquiries:

Connemara Mining Company Plc
John Teeling, Chairman	[phone]
Jim Finn, Director
Westhouse Securities Limited
Martin Davison	[phone]
Robert Finlay
Dowgate Capital Stockbrokers Limited
Jason Robertson	[phone]
Blytheweigh	[phone]
Tim Blythe	[phone]
Halimah Hussain	[phone]
Camilla Horsfall	[phone]
PSG Plus
Natalie Tennyson	[phone]
Alan Tyrrell	[phone]

www.connemaramining.com

 

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