Results of Two Exploration Holes

RNS Number : 0631Q

Connemara Mining Company plc

25 February 2016

 

25^th February 2016

Connemara Mining Company plc ("Connemara")

Results of Two Exploration Holes Drilled at Oldcastle

The directors of Connemara Mining (AIM: CON) are pleased to announce the results of two diamond drill holes targeting zinc that were drilled on the Oldcastle block of licences in the Irish Midlands by Teck Ireland Ltd. ("Teck").  The Oldcastle block of five licences is under option to Teck, operators of the exploration program, who have earned a 51% interest in the licences by spending €550,000 and can increase to 75% by spending a further €800.000.

Hole TC3926-002 intercepted zones of sulphides peaking at 1.31 metres grading 3.71% combined lead/zinc.

Some intervals include:

Hole No.	From (m)	To (m)	Interval (m)	Zinc (%)	Lead (%)
TC3926-002 which includes and which includes	655.40 655.40 661.86	669.02 664.25 663.17	13.62 8.85 1.31	0.41 0.59 2.72	0.14 0.21 0.99

The 14.3m zone lies within a 92.45m (612.95 - 705.4m) zone of weakly elevated zinc and lead concentrations.  This mineralised zone is hosted by the Upper Sandstone Unit.  The Upper Sandstone is an important host to the SWEX zone at the Tara mine in Navan some 20 km to the East.

Hole TC1991-002 contains minor sulphides.

Hole No.	From (m)	To (m)	Interval (m)	Zinc (%)	Lead (%)
TC1991-002	675.30	675.80	0.50	0.15	0.00
TC1921-002	740.95	751.95	11.0	0.16	0.01

John Teeling, Chairman, commented, "The Oldcastle block of 5 licences was identified by Connemara as having characteristics similar to those of the giant Navan zinc/lead mine to the east.  The two exploration holes recently drilled support this proposition.  While the lead/zinc mineralisation is far from commercial, it is there and the 92.45 metres of an elevated sulphide zone is tantalising.  These initial results are encouraging and more drilling is warranted."

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 35 licenses covering an area of approximately 1, 362 sq km.  It is currently actively exploring for gold in Donegal.  It holds two joint ventures with Teck on the zinc licences and a joint venture with Henderick Resources of Canada on gold licences in the Wicklow/Wexford area of Ireland.

This announcement has been reviewed and approved by the Company's technical advisor 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
Dipti Mehta
Northland Capital Partners Limited
Gerry Beaney	[phone]
William Vandyk
Dowgate Capital Stockbrokers Limited
Jason Robertson	[phone]
Blytheweigh	[phone]
Tim Blythe	[phone]
Camilla Horsfall	[phone]
PSG Plus
Colm Heatley	[phone]
Alan Tyrrell	[phone]

www.connemaramining.com

 

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