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The strength of the potential here lies within the proven boards sklillset and the fact they have spent a couple of years working on bringing this avenue to market with No salary. They clearly have something ready to run with here and for now it is either you are in, or you are out. I'm in.
CLAY LAKE GOLD TARGET= TARGET AREA 2Km BY 1Km. (by soil geochemistry ) KALGOORLIE SUPER PIT APPROX. 3.5Km LONG, 1.5 Km WIDE HIGHEST GOLD-IN- SOIL VALUES TO DATE (UP TO 1.53 g/t Au) – WITHIN THE THIRTY MILE TREND.
Conroy Gold and Natural Resources plc Drill programme 03 June 2016 Drilling underway Conroy Gold and Natural Resources has wasted precious little time in putting to work the funds raised in last month’s placing. The company has announced the commencement of a drilling programme. Before moving onto the main development target of Clontibret/Clay Lake, Conroy will drill at least three holes on its Glenish property circa 7km southwest of Clontibret. Glenish is located on the intersection of two major faults, the Glenish Fault and the Orlock Bridge Fault. The prospect comprises 147 hectares. Previous exploration work has produced grab samples up to 9.4 g/t gold in bedrock and drilling of 2.2 metres at 1.32 g/t gold. The drilling plan is designed to test for the possible presence of gold-in-bedrock in the southern portion of the Glenish target area. We would expect to receive at least some of the results from this work in CyQ3 2016. Shortly after the work at Glenish is completed the rig will move to the company’s flagship asset, the combined Clay Lake – Clontibret gold project where the company will be seeking to make progress against its 5m oz. exploration target. By the end of the year Conroy should have a far better understanding of its most developed prospect, which if confirmatory of its prospectivity will provide added bargaining power to negotiating any JV opportunity. Conroy’s enlarged market capitalisation of just £3.1m remains strongly supported by the 600,000oz resource attributed to a very small part of the company’s license area (20% of Clontibret). According to the company’s development plan, the proposed starter pit at Clontibret alone could generate a Net Present Value of $22m over a three year period at a gold price of $1,250 discounted at a rate of 8%. The projected extended mine life on this small section of Conroy’s licenses is 11.2 years. Conroy Gold and Natural Resources is a gold exploration and development company primarily focused on Ireland. The Company holds exclusive 100% owned licenses to explore for both gold and base metals in Northern Ireland and the Republic of Ireland (aggregate areas of c. 450 sq. miles) in a geological structure called the Longford-Down Massif. Conroy’s most detailed appraisals have been at Clontibret, where a JORC compliant mineral resource of 601k ounces of gold has been identified on 20 per cent of the target.
Has anyone got an eductated/informed opinion or idea when we may envisage a drilling update from the initiated drill program that was Ann'd 2nd June? What I Would Imagine to be a relatively simple three hole initial drill program at the Glenish Gold target would surely be a basis for News very soon?
Northland have a large number of resource companies on their books. PRG from memory, have only undertook private placings so I don't believe they have participated much in that respect.