Drilling Completed at Inishowen

RNS Number : 7737U

Connemara Mining Company plc

27 October 2017

 

27^th October 2017

Connemara Mining Company plc ("Connemara")

Drilling Completed at Inishowen

·        Veins Intersected

·        Samples Submitted for Assay

·        Prospecting has Identified four New Targets

Connemara (AIM: CON) is pleased provide an update on exploration activities at its 100%-owned Inishowen Project in Donegal, Ireland. Drilling at the Meeneragh gold target and further sampling at new gold targets has been completed.  As planned, a total of two hundred and sixty-two (262) metres were drilled on five (5) drill holes.  A total of sixteen (16) metres of drill core have been submitted for assay.  A total of twenty-one (21) samples were collected from outcrop and boulders at four new targets.  These samples were collected across six (6) of the eleven (11) prospecting licences. Results from assays from both drilling and prospecting are expected mid-November.

John Teeling, Chairman, stated "We have completed the follow-up drilling at the Meeneragh target as planned, we have intersected veins and we look forward to the assay results.  The information from the new drilling gives us a better understanding on the nature of mineralisation and its context in relation to geological structures observed in the area.  Connemara's geologists have also completed sampling at other targets across the Inishowen Project identified by earlier exploration and the Tellus programme.  Our geologists also report that the extreme flooding that occurred in August has unearthed fresh outcrop in many areas which they intend to follow up with a mini-drilling programme.  Connemara is the first company to complete exploration drilling for gold in the Inishowen Peninsula, which lies to the west of other exciting projects in the Dalradian rocks of Northern Ireland."

Meeneragh Drill Target, Inishowen

Historical assays led to selection of this target for initial drilling and it is interpreted to be associated with the interaction of the Glentogher Fault and rocks identified as Dalradian Green Beds which are frequently associated with metal deposits.  The initial discovery hole, drilled in April 2016 (hole 3) graded 5.8 g/t Au over a 3.05 metre zone of narrow, high-grade quartz veins at approximately 25 metres depth.  In June 2016 a further 643 metres over four holes were drilled.  A similar high-grade zone was intercepted at 8.13m at a steeper angle of 70 degrees grading 5.48 g/t Au over 4.82 metres.  Gold mineralisation is associated with zones of quartz veins and other altered zones. Mineralisation has been identified up to depths of over 150 metres.  The target remains open at depth.  The five (5) recently completed holes intersected narrow quartz veins and, although these are shallow holes, an improved understanding of the geometry has been established.

Four New Targets at Inishowen

Connemara is not the first company to explore the Peninsula - a number of companies have worked in the area from 1969 through 2014.  Work completed includes airborne geophysics as well as extensive rock, soil and stream samples.  Building on this work, including the new Tellus data, four new targets have been identified:

a)   Cleenagh

b)   Garvary

c)   Cloncha

d)   Mossy Glen.

More detailed information relating to Meeneragh and the newly identified targets, including location maps and technical data, is available online at www.connemaramc.com/operations/inishowen/

Information on Connemara Mining

Connemara is a diversified exploration company with principal assets in gold and zinc exploration licences across Ireland.  Connemara now 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.

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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