Further Drilling at Stonepark Zinc Project

RNS Number : 0592F

Connemara Mining Company plc

24 October 2018

 

24 October 2018

Connemara Mining Company plc

("Connemara" or the "Company")

Further Drilling at Stonepark Zinc Project

Connemara Mining Company plc (LON:CON), the Irish gold and zinc exploration and development company, is pleased to announce that further drilling is underway at the Stonepark Zinc Project, located in Limerick, Ireland, which is being undertaken by our joint venture partner Group Eleven Resources Corp. ("Group Eleven").

Highlights

-     1,500 to 2,000 metres planned in this phase

-     Drill collars are located outside of the established Maiden Mineral Resource Estimate

-     Aim is to provide improved geological information prior to expanded 2019 drill program

Patrick Cullen, Chief Executive Officer of Connemara, commented, "We are very pleased to see the rig turning at Stonepark once again.  We have reviewed the targeting strategies proposed by Group Eleven and are supportive of their 'Big Think' approach as it applies to the Limerick Basin.

"Connemara has already contributed to its share of the costs for the 2018 exploration programme, including ground-based geophysics at various targets across the block, the earlier drilling on hole G11-2638-01 which revealed spectacular grades of 32.2% combined zinc and lead, as well as the budget for this proposed programme. We are looking forward to progress over the coming months."

Stonepark Zinc Project

The Stonepark Zinc Project is a joint venture between Connemara (23.44% interest) and Group Eleven (76.56% interest). The NI43-101 independent report on Stonepark has been uploaded to SEDAR by partner Group Eleven and a copy of this report is available on the Connemara website.

The report defines a maiden Inferred Mineral Resource at Stonepark, totalling 5.1 million tonnes at 11.3% zinc and lead combined (8.7% Zn and 2.6% Pb), occurring at depths from 190m to 395m below surface.

Glencore's nearby Pallas Green deposit contains 44.2 million tonnes at 8.4% zinc and lead combined (7.2% Zn and 1.2% Pb) in the Inferred Category (source: Glencore Resources & Reserves, 31 December 2017), occurring at depths from 300m to 1,300m below surface.

Based on the above disclosures, the Stonepark deposit is shallower and higher-grade than the Pallas Green deposit.

The most recent drill hole (G11-2638-01, reported 18 June 2018) intersected 5.40m of 25.0% zinc and 7.2% lead (32.2% Zn+Pb combined) and 12.2 g/t silver (from a depth of 234.05m with true width estimated at 4.9m), verifying one of the high-grade zones within the Stonepark Mineral Resource Estimate.

This announcement has been reviewed and approved by Gavin Berkenheger (CGeol) in his capacity as the Qualified Person for the purposes of the AIM 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.

Further information can be sourced from the Company website: www.connemaramc.com 

Information for Editors

Connemara is a diversified exploration company with principal assets in gold and zinc exploration licences across Ireland.  Connemara currently holds interests in a total of 39 licences, including joint ventures with Teck Ireland Ltd. at the Oldcastle Zinc Project and with Group Eleven Resources Corp. at the Stonepark Zinc Project.

ENDS

Enquiries:

Connemara Mining Company Plc
John Teeling, Chairman	[phone]
Patrick Cullen, CEO	[phone]
	[phone]
Northland Capital Partners Limited
Matthew Johnson / Edward Hutton	[phone]
Isabella Pierre
First Equity Limited
Jason Robertson	[phone]
Blytheweigh	[phone]
Julia Tilley	[phone]
Simon Woods	[phone]
Teneo PSG
Luke Hogg	[phone]
Alan Tyrrell	[phone]

 

END

 

 

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