Arkle Res Regulatory News (ARK)

28 Nov 2007 07:00

Connemara Mining Company plc28 November 2007 28 November, 2007 Significant Zinc Lead Discovery at Limerick, Ireland Connemara Mining Company Plc ("Connemara" or "the Company") (AIM: CON.L), theIrish zinc and lead explorer is delighted to report the discovery of significantzinc lead mineralisation in the fourth drill hole from a five hole scoutingprogramme on prospecting licence PL 2638 in Limerick, Ireland. The programme isoptioned and being operated by Teck Cominco Ireland ("Teck Cominco"), asubsidiary of Teck Cominco Limited. Hole TC-2638-4 intersected: 4.0 metres grading 11.62% zinc and 3.46% lead including 1.15 metres grading 28.61% zinc and 4.17% lead and a shallower and separate interval of 1.3 metres grading 6.85% zinc and 0.3% lead Table 1 - Assay Results Drill Hole 4 - PL-2638 Limerick From (m) To (m) Interval (m) Zn (%) Pb (%) Fe (%) 372.75 374.05 1.3 6.85 0.3 7.11 374.05 376.1 2.05 0.3 35m) of brecciated Waulsortian limestone. The Lisheen and Galmoy zinc mines, located approximately 60km to theNortheast, and the nearby Pallas Green discoveries of Xstrata/Minco occur insimilar host rocks. Teck Cominco have completed a 5 hole, 2412 metre drilling programme on PL 2638and are planning an aggressive follow up drilling programme in 2008. The Company holds 16 licences in the Limerick area and Teck Cominco can earn a75% interest in 15 of these licences, including PL 2638, by spending CDN$3.0m bythe end of December 2010. The discovery is located within a 20km long, highly prospective structuralcorridor identified by Connemara during the first phase exploration programme.The mineralisation discovered at Tobermalug and Caherconlish in Pallas Green byXstrata/Minco lies to the Northeast of the licence. This release has been approved by Graham Reid, P. Geo., Director BRG TechnicalServices, consultants to Connemara. Mr Reid has 30 years mineral explorationand evaluation experience. Patrick Redmond, Teck Cominco's Manager, Exploration - Ireland, commented, "Weare delighted with the results from our first drilling program in Limerick. Thethick high grade Zn-Pb mineralisation and well developed hydrothermal brecciasintersected in drill hole TC-2638-4 suggest the presence of a large base metalmineralising system and we are planning an aggressive follow up drilling programin 2008." John Teeling, Connemara's Chairman comments, "This is really exceptional newsfor Connemara and for the wider Irish zinc industry. It is very rare inexploration to ever drill a commercial grade discovery hole but even less commonto do so on the fourth hole of a first phase prospecting programme. This holeis exceptional by world zinc and Irish zinc discovery standards. Few explorers ever get to make a discovery, even fewer in their home country.Having been actively involved in Irish zinc for 37 years I am delighted. Butlet me caution investors, whilst one good hole, even one as good as this, doesnot make a mine and there is a long road ahead but the first few steps are veryencouraging." _______________________________________________________________________________ Contacts: Connemara Mining Company PlcJohn Teeling, Chairman +353 87 2581178Jim Finn, Financial Director Blue Oar Securities PlcJohn Wakefield +44 (0) 117 933 0020Simon Moynagh College HillPaddy Blewer +44 (0) 207 457 2020Nick Elwes www.connemaramining.com Note to Editors: About Connemara Mining Company Plc (AIM: CON.L) Shares in issue 15.2mPrice 32pMarket cap £4.8m Connemara, which listed on AIM in August 2007, was established and is controlledby veterans of the Irish zinc industry. It is focused on the prolific Irishzinc province. Apart from the 16 licences in the Limerick area, Connemara holds a block of 5licences in the Lough Sheelin area of County Meath, 6 licences in the Wexford/Waterford area plus a further licence in Castlemaine and one gold licence inKildare Drilling on the Lough Sheelin block will commence in the coming weeks. The directors of the company, John Teeling, Jim Finn and Viv Byrne, havecollectively almost 100 years of experience in Irish zinc. ___________________________________________________________________________ About Teck Cominco Teck Cominco is a diversified mining company, headquartered in Vancouver,Canada. Its shares are listed on the Toronto Stock Exchange under the symbolsTCK.A and TCK.B and on the New York Stock Exchange under the symbol TCK. Thecompany is a world leader in the production of zinc and metallurgical coal andis also a significant producer of copper, gold and specialty metals. Furtherinformation can be found at www.teckcominco.com. This information is provided by RNS The company news service from the London Stock Exchange