Update on Oldcastle Drilling

RNS Number : 6550J

Connemara Mining Company plc

21 December 2015

 

21^st December 2015

Connemara Mining Company plc ("Connemara")

Update on Oldcastle Drilling

Connemara Mining (AIM: CON) is pleased to announce that recently completed diamond drilling on our Oldcastle Block in the Irish midlands by joint venture partner Teck Ireland Ltd. ("Teck") is currently undergoing detailed logging prior to core splitting, sampling and analysis of mineralized and structurally/stratigraphically interesting zones.  Fine grained disseminated zinc and lead sulphides have been identified in coarse sandstone portions of the prospective stratigraphy.  Both drill holes exceeded 800m in depth and are in the process of being correlated with previous seismic sections.  Results should be available early in the New Year.

The Oldcastle block of five licences is being explored by Teck under an option agreement with Connemara. Teck, who is operator, has earned a 51 per cent interest in the block by spending €550,000 and can increase to 75 per cent interest by spending a further €800,000.

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
Aoife Ross	[phone]
Alan Tyrrell	[phone]

www.connemaramining.com

 

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