(Alliance News) - Conroy Gold & Natural Resources PLC on Monday said tests in a new area in Northern Ireland revealed significant gold assay results and visible native gold, and that it has extended its gold-bearing quartz bedrock by over 100 metres.
Conroy Gold is a Dublin-headquartered gold exploration and development company focused on Ireland and Finland.
The company said the quartz breccia bedrock in its Mines Royal option area in County Armagh, Northern Ireland has been extended to the north east by over 100 metres, where the channel sampling was conducted. The strike of the gold-bearing quartz breccia zone is now over 135 metres in length.
The "significant gold assay results" at Mines Royal included an intersection of 1.0 metres at 6.5 grams per tonne gold. Visible native gold also was reported.
Conroy Gold said it identified an eighteen metre quartz breccia exposure, which was interpreted as a continuation of the structure identified previously in outcrop and trenching. Tests of one metre length samples returned significant intercepts between 0.3 grams per tonne and 6.5 grams. Sampling of a nearby fault gauge meanwhile returned 1.7 grams per tonne.
Chair Richard Conroy said he was "delighted to see further evidence of gold prospectivity in this newly discovered gold area".
Conroy Gold is carrying out the channel sampling in conjunction with its joint venture partner Demir Export AS, a coal and metal ore mining company based in Central Anatolia, Turkey.
Shares in Conroy Gold were down 3.0% at 16.00 pence in London on Monday afternoon.
By Emma Curzon, Alliance News reporter
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