Five New Lead/Zinc Properties in Irish Midlands

RNS Number : 0775B

Connemara Mining Company plc

31 March 2017

 

31^st March 2017

Connemara Mining Company plc ("Connemara")

Five New Lead/Zinc Properties in the Irish Midlands

Connemara Mining is pleased to announce the acquisition of five new prospecting licences in County Laois, in the Irish Midlands.  The properties lie along the 'Rathdowney Trend' north east of the former Galmoy and Lisheen zinc-lead mines and include the Tonduff and Derrykearn lead-zinc orebodies.  Connemara believes a fresh look may reveal new ore zones along one of Ireland's most significant lead zinc trends.

Derrykearn Discovery

Discovered in 1977 by Athlone Prospecting and Development who intersected 2m of 3% pyrite with 0.2% zinc.  In 1984 Ennex discovered more intense and extensive sulphide mineralisation in the form of massive and disseminated "pseudo" breccia hosted pyrite/sphalerite/galena at shallow depths (20 - 50m).  The best intersection was Hole 1650-11 with 5.95m grading 13.3% zinc / 3.2% lead.  Follow up work by Ennex and Ivernia West extended the mineralisation but concluded at that time that it was sub-economic.

Tonduff Discovery

Discovered by Chevron Mining in 1987.  It consists of disseminated and fractured sulphides hosted by Black Matrix Breccias, within the Waulsortian Reef.  It is a low-grade deposit and could be modelled as being on the edge of a larger zinc-lead mineralising system.  Hole 1989-91 had a number of thin intervals c.0.25m thick grading between 1.5 - 2.0% zinc / 0.3% lead.

John Teeling, chairman, commented "This is good ground in a good trend at a good time for zinc.  In the 25 years since these licences were explored exploration technology has improved as has our understanding of the Irish zinc province.  There is potential.

Zinc is in short supply at present, reflected in a doubled price per ton in the past year.  At a price of $2,500 a ton, a zinc discovery would be very valuable."

Connemara is a diversified exploration company with principal assets in gold, zinc and lead exploration licences in Ireland.  The Company holds interests in 35 licences covering an area of approximately 1, 350 sq km.

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.

Enquiries:

Connemara Mining Company Plc
John Teeling, Chairman	[phone]
Jim Finn, Director
Gavin Berkenheger, Director	[phone]
Northland Capital Partners Limited
Matthew Johnson / Gerry Beaney	[phone]
John Howes
Dowgate Capital Stockbrokers Limited
Jason Robertson	[phone]
Blytheweigh	[phone]
Tim Blythe	[phone]
Camilla Horsfall	[phone]
Nick Elwes	[phone]
Kristina Kazerani	[phone]
Rachael Brooks
PSG Plus
Ciaran Flynn	[phone]
Alan Tyrrell	[phone]

www.connemaramining.com

 

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