Highlights of the Chairman's Statement from AGM

RNS Number : 5206F

Connemara Mining Company plc

28 July 2016

 

28^th July 2016

Connemara Mining Company plc ("Connemara")

Highlights of the Chairman's Statement to the AGM of

Connemara Mining Plc held In Dublin at 10am July 28^th 2016

Ø  The gold price at €1,300 plus an ounce and a zinc price of $2,200 plus a tonne have recovered significantly and offer profitable exploration opportunities.

Ø  Connemara holds 32 gold and zinc licences in Ireland and has expressed interest in additional ground.

Ø  The focus of activity is the Inishowen area where a gold drilling programme has recently concluded.  Results of two holes were reported this week identifying a potential new gold system.

Ø  Results for the remaining two holes will be available within weeks.  It is very early days in the exploration campaign so caution is advised.

Ø  Our second gold focus is the Hendricks joint venture on 5 licences in the Wicklow/Wexford area.  We are hopeful that funds are forthcoming to drill two areas, Knocknaloor and Tombreen, where earlier drilling discovered high gold grades.

Ø  The rising zinc price should encourage exploration on our two zinc joint ventures, Oldcastle in Meath and Stonepark in Limerick both operated by Teck Resources, a Canadian based mining multinational.  The Irish subsidiary of Teck does not have a drilling budget for our ground though they are maintaining the licences in good standing.

Ø  We have surrendered three zinc licences in the Tipperary area while expressing an interest in new ground.

All resolutions were duly passed at the meeting.

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

Enquiries:

Connemara Mining Company Plc
John Teeling, Chairman	[phone]
Jim Finn, Director
Northland Capital Partners Limited
William Vandyk/Gerry Beaney	[phone]
John Howes
Dowgate Capital Stockbrokers Limited
Jason Robertson	[phone]
Blytheweigh	[phone]
Tim Blythe	[phone]
Camilla Horsfall	[phone]
Nick Elwes	[phone]
Rachael Brooks
PSG Plus
Colm Heatley	[phone]
Alan Tyrrell	[phone]

www.connemaramining.com

 

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