Conroy Gold hits deepest mineralisation at Clontibret

(Alliance News) - Conroy Gold & Natural Resources PLC on Monday reported its deepest gold mineralisation intersection to date at the Clontibret deposit in Ireland, as part of a 2,000-metre drilling programme.

The AIM-listed exploration firm said assay results from the first drill hole, CGC-25-001, returned multiple gold intersections, including 2.8 metres grading 4.5 grams per tonne gold from 154.2 metres, including 0.5 metres at 15.0 g/t gold.

Shares in the company were up 5.1% at 15.76 pence in London on Monday afternoon.

Other notable intercepts included 2.4 metres at 1.7 g/t gold from 75.6 metres, 1.7 metres at 3.7 g/t from 211.5 metres and 4.0 metres at 0.5 g/t from 410.5 metres.

The company said more than 10 gold lodes were intersected in the hole, extending known lodes by up to 60 metres to the north. Sulphide mineralisation encountered at around 410 metres represents the deepest zone of sulphide mineralisation intersected at Clontibret to date.

The inclined hole was drilled to a depth of 415.25 metres but was stopped before reaching its target depth in the stockwork zone due to technical difficulties encountered during a re-entry following a drill bit change.

Conroy said assay results from the bottom of the hole indicate it remained within a gold mineralised zone when drilling ceased, suggesting the system remains open at depth.

A follow-on deep hole, CGC-25-007, has been approved and is now being drilled to directly target the stockwork zone, informed by observations from the first hole.

Chair John Sherman said the company was "delighted to see drilling show encouraging mineralisation at depth".

By Eva Castanedo, Alliance News reporter

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