Conroy Gold & Natural Resources Plc Gold bearing lodes within antimony mine workings
May 11 2017 - 2:00AM
UK Regulatory
TIDMCGNR
11 May 2017
Conroy Gold and Natural Resources plc
("Conroy" or "the Company")
GOLD BEARING LODES WITHIN ANTIMONY MINE WORKINGS
* Mine Drift Cuts Across Four Gold Bearing Structures
* Intercepts in Lodes of 7.00g/t to 12.8g/t Gold
* Gold Over Widths of 3.00m to 10.00m
* Gold Mineralisation Recognised to be Older than Antimony Mineralisation
__________________________________________________________________
Conroy Gold and Natural Resources plc (AIM: CGNR, ESM: CGNR.I), the gold
exploration and development company focused on Ireland and Finland, is pleased
to announce that following gold assay data pertaining to the original antimony
mine workings at Clontibret becoming available, it has been possible to relate
the occurrence of four gold bearing lodes, within the 48m of the Tullybuck
drift, in the historical underground workings.
Gold assay data pertaining to the historical underground workings at the
Clontibret deposit has recently become available. The samples were collected
by an Irish-Canadian company during the 1950s and comprise detailed channel
samples of the back (roof) and walls of the drift and shafts. Detailed
surveyed sample maps and original 'signed off' assay sheets have been examined.
Part of the initial historical underground development from the early 1800s
comprised 80m of drifts that followed stibnite (antimony) veins. It is now
recognised that the antimony mineralisation is younger than the gold
mineralisation and is oriented in a more northerly direction. Although the
underground antimony workings essentially followed a single stibnite vein, it
is interpreted that the Tullybuck drift has cross cut four gold bearing
structures.
The Company has been able to relate its own geological mapping from the
Clontibret stream, drilling data and the recently available assay data from the
underground workings. The interpretation is that, within the 48m of underground
development in the Tullybuck drift, the following gold bearing lodes occur.
Lode Width (m) Grade (g/t Au)
30 10.0 7.0
33 4.0 12.8
34 5.5 12.0
35 3.0 9.8
Examination of drilling in the vicinity of the Tullybuck workings supports this
interpretation as an intercept 20m from the southern end of the Tullybuck drift
comprised 30.4m grading 3.0 g/t Au including intercepts of 3.34m grading 13.1 g
/t Au and 3.00m grading 10.5 g/t Au.
The Company is also pleased to announce the appointment of Beaufort Securities
Limited as its Corporate Broker.
This release has been approved by Kevin McNulty PGeo, who is a member of the
Company's technical staff who holds a BSc/MSc in Geology and Remote Sensing, in
accordance with the guidance note for Mining, Oil & Gas Companies issued by the
London Stock Exchange in respect of AIM Companies, which outlines standards of
disclosure for mineral projects.
Professor Richard Conroy, Chairman, commented:
"I am delighted that this newly available historic data adds to and correlates
so closely with our recent drilling and structural work at Clontibret and adds
to our understanding of the gold deposit and its potential size and grade."
For further information please contact:
Conroy Gold and Natural Resources plc Tel: +
353-1-479-6180
Professor Richard Conroy, Chairman
Allenby Capital Limited (Nomad) Tel: +
44-20-3328-5656
Virginia Bull / Nick Harriss / James Thomas
Beaufort Securities (Broker) Tel
+44-20-7382-8300
Jon Belliss/ Elliot Hance, Beaufort Securities Limited
IBI Corporate Finance Limited (ESM Adviser) Tel:
+353-766-234-800
Ger Heffernan / Jan Fitzell
Lothbury Financial Services Tel:
+44-20-3290-0707
Michael Padley
Hall Communications Tel:
+353-1-660-9377
Don Hall
Visit the website at: www.conroygold.com
END
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