(Sharecast News) - Conroy Gold reported the discovery of two antimony-bearing float boulders at its Clontibret gold deposit in County Monaghan, Ireland on Friday, with both samples yielding high gold grades of 21.9 grams per tonne and 11.2 grams per tonne.
The AIM-traded firm said preliminary portable x-ray fluorescence analysis indicated antimony levels exceeding 40%, with lab assays now underway to confirm ore-grade content.
It said the boulders were found within the known Clontibret gold resource footprint, near historic antimony workings, and provided further support for a second antimony trend previously identified by the company.
The board said the findings were part of an ongoing exploration programme aimed at assessing Clontibret's antimony potential alongside its established gold resource.
Conroy Gold said relogging of drill core and development of a revised 3D geological model were in progress, with additional follow-up exploration planned.
The company said it saw the latest results as a significant step in demonstrating Clontibret's multi-metal potential, particularly given antimony's critical mineral status.
"The discoveries of antimony floats which show high gold grades further highlight both the antimony potential of the Clontibret deposit and its correlation to potentially high-grade gold," said chairman John Sherman.
"We are looking forward to exploring the potential of the second antimony trend identified recently to increase the scale of the gold resource within the existing resource footprint.
"The company also intends to apply to the European Commission for recognition of Clontibret as a strategic project under the European Critical Raw Materials Act 2024 on the basis of the antimony content."
At 0846 BST, shares in Conroy Gold and Natural Resources were up 5.77% at 2.75p.
Reporting by Josh White for Sharecast.com.
Conroy Gld&nres (CGNR)
