(Alliance News) - Conroy Gold & Natural Resources PLC on Thursday said it has received assay results for six drill holes at its Creenkill gold target in Ireland.
The Dublin-headquartered gold exploration company focused on Ireland and Finland said intercepts from the six holes included 0.5 metres at 11.5 grammes of gold per tonne, 1.2 metres at 3.8 grammes of gold per tonne, and 0.4 metres at 3.1 grammes of gold per tonne.
The firm said the drilling, which is being undertaken with its joint venture partner Demir Export AS, aims to confirm the immediate down dip continuity of the gold mineralisation structure identified by the firm in June at its Mines Royal option area in County Armagh, Ireland.
The mineralised structure has been drilled over a 100 metre strike length at a depth of 10 metres, Conroy said, but notes that drilling continues at the target.
Conroy said the drilling programme is part of a larger assessment that includes soil and deep overburden sampling and geophysics on both gold trends in the Longford Down gold district.
The company's joint venture with Demir aims to develop a gold mine along one of the gold trends, possibly at Clontibret, with a longer-term target of creating a series of mines across the district.
Chair Richard Conroy said: "This new discovery continues to emphasise the prospectivity of the region. The initial drilling supports what was discovered during the trenching programme and the continuity of the structure provides encouragement that similar bonanza gold grades, discovered during prospecting, can be encountered by future trenching and drilling."
Conroy Gold shares fell 1.9% to 12.75 pence each on Thursday morning in London.
By Harvey Dorset, Alliance News reporter
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