Gold Drilling to Commence at Mine River

RNS Number : 7073W

Connemara Mining Company plc

16 November 2017

 

16^th November 2017

Connemara Mining Company plc ("Connemara")

Gold Drilling to Commence at Mine River in Wicklow and Wexford

Connemara (AIM: CON) is pleased to announce that permitting and access permissions have been completed at a number of locations at its 100% owned Mine River gold project.  Drilling will commence on 22^nd November 2017.  500 metres of core drilling is planned at two key locations.

John Teeling, Chairman, stated "We have been busy in the field these past few months and, as planned, our activities for the remainder of 2017 now shift to the Mine River Block in Wicklow and Wexford.  Members of our Board have been active in the area in the past and we know there is gold in the area based on past drilling.  What is very exciting is to be the first company to drill at Gibbet Hill, which we hope will confirm the extent of a trend identified by Connemara.  Also, at the Tom Breen target, our geologists now believe that some historic drilling most likely stopped in mineralisation.  There is a 15 kilometre-long trend to be explored in the Block, we are looking forward to developing this project going forward."

The Mine River project is located in Wicklow and Wexford in the south-east of Ireland.  It is comprised of 17 licences, formed by the acquisition of twelve Hendrick Resources licences in mid-November added to Connemara's existing five licences.

Historic drilling has proven gold mineralisation in bedrock. Five holes were drilled at Tom Breen with results including: 50cm grading at 21.28g/t gold (Au) from 70.7m (2558-3). Six holes were drilled at Knocknalour with results including: 40cm grading at 19.9g/t Au from 96.0m (2554-2) and 30cm grading at 10.45g/t Au from 88.5m (2554-3).  A new target at Gibbet Hill has been identified 2.5 kilometres further south along trend where favourable geological observations have been made and a grab sample from a road cutting returned an in-situ grade of 7.37g/t Au.

A 15 kilometre long target has been identified by geochemical surveys in streams and soils completed across the Block, indicating significant strata-bound gold mineralisation associated with the contacts between Ordovician volcanic rocks and metasedimentary rocks.  The principal trend follows the Caledonian northeast - southwest trend.  The airborne geophysical survey flown by Hendrick Resources in 2012 (combined with the Tara Exploration survey of 2000) has facilitated the development of a more robust structural model that puts the significant gold occurrences found to date into context.

Information on Connemara Mining

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 47 licences, including joint ventures with Teck at the Oldcastle Zinc Project and with Group Eleven Resources at the Stonepark Zinc Project.  There are active exploration programmes on our gold projects in Wicklow/Wexford as well as at Inishowen in Donegal.

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
Patrick Cullen, CEO	[phone] [phone]
Northland Capital Partners Limited
Matthew Johnson / Gerry Beaney	[phone]
John Howes
Blytheweigh	[phone]
Nick Elwes	[phone]
Camilla Horsfall	[phone]
Teneo PSG
Luke Hogg	[phone]
Alan Tyrrell	[phone]

www.connemaramc.com

 

END

 

 

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