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(Alliance News) - Conroy Gold & Natural Resources PLC on Wednesday announced a step out drilling programme at the DerryHennet section of its Clay Lake gold target.
The gold exploration and development company focused on Ireland and Finland said the programme is being undertaken with Demir Export A, the company's joint venture partner.
The Clay Lake gold target, covering more than 200 hectares and nearly 3 kilometres in length, is one of a series discovered along a 65 kilometre gold trend in the Longford-Down Massif in Northern Ireland.
The programme will initially consist of eight drillholes, totalling 2,000 metres, with further drilling to be planned on other targets on the trend, Conroy said.
The company noted that the drilling programme will step out from known gold mineralisation, where previous trenching and drilling has identified up to 5 metres at 3.0 grammes of gold per tonne and a 100 metre intersection at 0.6 grammes of gold per tonne.
Chair Richard Conroy said: "I am delighted to see drilling at the Clay Lake gold target. The initial drilling programme at Clay Lake forms part of the overall assessment of the gold trend which the Company has discovered.
"We are, of course, looking at an entire new gold district which contains many gold targets along the trend, including the Clontibret gold deposit, where results have been excellent including the recent drilling that demonstrated the continuity between that deposit and the Corcaskea gold target."
Conroy shares were down 4.8%, trading at 18.81 pence per share at midday on Wednesday in London.
By Harvey Dorset, Alliance News reporter
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