Update on Gold Drilling and Field Exploration

RNS Number : 9913Z

Connemara Mining Company plc

21 December 2017

 

21^st December 2017

Connemara Mining Company plc ("Connemara")

Update on Gold Drilling and Field Exploration in Wicklow and Wexford

·        Two holes have been drilled at Gibbet Hill (193 metres) and a third at Tom Breen (97 metres)

Connemara (AIM: CON) is pleased to announce that key objectives have been achieved at its 100% owned Mine River gold project in Wicklow/Wexford.  Slightly less than 300 metres have been drilled on three holes and sampling and mapping has been completed elsewhere across the project area.  Drill and field samples are scheduled for delivery to the assay laboratory on Friday 22^nd December.  Results are expected in January 2018.

John Teeling, Chairman, stated "Our geologists and drill contractors have been busy for the past month on our Mine River project in Wicklow and Wexford.  There have been challenging weather conditions as expected but we are satisfied with progress.  The geological mapping and field sampling has already yielded information and we will have new drill targets for the New Year.  We look forward to publishing assay results in early 2018."

The focus of the Mine River project is a 15 kilometre long target that 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 and has assisted with targeting.

Historic drilling has proven gold mineralisation in bedrock along the trend. 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).  The newly drilled target at Gibbet Hill is 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.

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 Mine River gold project in Wicklow/Wexford as well as at our Inishowen gold project 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

 

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