Focus on Inishowen Gold Prospect

RNS Number : 3127D

Connemara Mining Company plc

26 April 2017

 

26^th April 2017

Connemara Mining Company plc ("Connemara")

Focus on Inishowen Gold Prospect

The board of Connemara Mining (AIM: CON) is pleased to announce the award of 6 additional prospecting licences on the Inishowen Peninsula in Donegal.  The new ground covers 229 sq km adjoining the 5 licence block on which Connemara intercepted 4.82 m grading 5.48 g/t gold in 2016.  The 11 licences cover the entire Green Bed Member of the Dalradian geological sequence on the peninsula which is considered by Connemara geologists to be highly prospective.

Connemara applied for the ground when modelling of the 2016 drilling results indicated that the gold bearing veins may stretch into the adjoining areas.  It is expected that additional drilling will take place in Q2 2017.

Connemara has relinquished ground in Donegal to focus attention and resources on Inishowen.  The Raphoe block of 10 licences was explored and while gold traces were discovered in soil and stream samples the consensus was that the Inishowen block holds greater potential for a commercial gold discovery.

John Teeling, Chairman, commented "Having analysed and reviewed the results of our 2016 drilling campaign we decided, as a matter of urgency, to apply for the ground adjoining our 5 licence block on the Inishowen Peninsula in county Donegal.  We are delighted to have been awarded 6 additional licences on the peninsula.  We believe that the mineralisation we discovered could extend into the new ground where historically gold has been noted in several streams.

Given the potential of the Inishowen block we have surrendered 10 licences in the south of Donegal.  The results we obtained on this block were not of the same order as those found on Inishowen.  We will now focus our efforts on the Inishowen block."

Connemara is a diversified exploration company with principal assets in gold, zinc and lead exploration licences in Ireland.  The Company holds interests in 35 licences covering an area of approximately 1, 350 sq km.

This announcement has been reviewed and approved by Gavin Berkenheger (CGeol) 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. 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

ENDS

Enquiries:

Connemara Mining Company Plc
John Teeling, Chairman	[phone]
Jim Finn, Director
Gavin Berkenheger, Director	[phone]
Northland Capital Partners Limited
Matthew Johnson / Gerry Beaney	[phone]
John Howes
Dowgate Capital Stockbrokers Limited
Jason Robertson	[phone]
Blytheweigh	[phone]
Tim Blythe	[phone]
Camilla Horsfall	[phone]
Nick Elwes	[phone]
Kristina Kazerani	[phone]
Rachael Brooks
Teneo PSG
Ciaran Flynn	[phone]
Alan Tyrrell	[phone]

www.connemaramining.com

 

END

 

 

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