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2 Jul 2008 12:15
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2ndΒ JulyΒ 2008
Connemara Mining Company PLC
Highlights of the Chairman's Statement at the AGM
Held inΒ Dublin,Β July 2ndΒ 2008
The Company has had a very successful year withΒ potentially high valueΒ zinc discoveries at Stonepark in Limerick, and in Lough Sheelin,Β Ireland.
The clear focus of activities is on Stonepark, our joint venture with Teck Cominco,Β where two rigs are drilling.
Following theΒ excellent resultsΒ in two holesΒ (TC-2638-4Β andΒ TC-2638-7),Β a third step out hole 100 metres away is completed.
Visual inspection of the core shows good mineralisation.
New holes will now be drilled to test theΒ lateralΒ extension.
The concentration of exploration in the Limerick region by Teck Cominco,Β ConnemaraΒ and others, combined with the good drill results being achieved in the area augers well for the discovery of at least oneΒ large commercial zinc mine.
The Lough Sheelin drill results,Β whereΒ low grade zinc mineralisation was found in 9 of 11 drill holes,Β have been analysed and a follow up programme is being planned. TheΒ hope isΒ that these resultsΒ represent a haloΒ around a more substantial orebody.
ConnemaraΒ holds a significant number of licences in what we believe to be prospective areasΒ close to where thereΒ has beenΒ a baseΒ metal mine.
Other baseΒ metal opportunities offered to Connemara inΒ EuropeΒ and elsewhere are being systematically examined.
The Company is wellΒ fundedΒ due toΒ Teck Cominco'sΒ funding ofΒ all exploration atΒ Limerick. Our cash balance is Β£550,000.
All resolutions were passed at the meeting.
Β Β
Enquiries:
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Connemara Mining Company Plc |
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John Teeling, Chairman |
Β +353 (0)1 833 2833 |
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JimΒ Finn, Financial Director |
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Blue Oar Securities Plc |
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John Wakefield |
+44 (0) 117 933 0020 |
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Simon Moynagh |
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College Hill |
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Paddy Blewer |
+44 (0) 207 457 2020 |
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Nick Elwes |
www.connemaramining.com
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