Last checked at 15 Dec 2010 07:00
15th December 2010
Connemara Mining Company plc
Stonepark Update
● | Extended mineralisation discovered in the lower zone of Stonepark North |
● | Regional drilling intersects mineralisation 10km from Stonepark |
● | Drilling ongoing on 160sqkm block of 16 licences in Limerick |
The board of Connemara Mining Company plc ("Connemara"or "the Company") (AIM:CON) is pleased to present an update on drilling in the Limerick Region. The programme is a joint venture between Connemara (25%) and Teck Ireland Ltd. ("Teck") (75%).
Drilling at Stonepark North has defined upper and lower zones of zinc-lead mineralisation at approximately 210 meters and 310 meters depth respectively. The majority of high-grade mineralisation discovered to date is in the upper zone. Recent drilling tested the lower zone. Hole TC-2638-60, drilled 100 metres to the west and 200m northwest of earlier holes, had the following results.
Hole | From (m) | To (m) | Width (m) | Zinc % | Lead % |
TC-2638-60 | 292.70 | 315.15 | 22.45 | 1.24 | 0.07 |
Including: | |||||
310.85 | 312.25 | 1.4 | 8.05 | 0.17 |
The extension of zinc-lead mineralisation broadens the scope of the zone. Step out drilling is ongoing.
Ten kilometres to the southeast of Stonepark, hole TC-450-009, intersected a 30 meters breccia zone containing 2.9m of 0.95% Zinc and 0.02% Lead. Visual inspection suggests this zone is very similar to the zones peripheral to Stonepark.
Exploration is ongoing over 16 licences (160sqkm block) in the Limerick region. The focus of work in the last half of 2010 has been to maintain the licences adjacent to our Stonepark discovery, and to explore the outer limits of Stonepark.
Nine holes have been drilled on blocks up to 40 kilometres away from Stonepark in the Newcastlewest area. To date, no significant mineralisation has been found. Two rigs are drilling in the area.
John Teeling, Chairman, commented, "The Limerick area continues to grow in significance as a potential zinc province. The size, shape and grade of the Stonepark discovery is not yet known so it is important to maintain all of our licences in good standing to allow for an expansion of existing and / or new finds. The work is ongoing. One of the holes drilled 10km from Stonepark discovered low grade zinc and lead in a similar setting to the areas surrounding Stonepark. This opens up a whole new area."
On Stonepark itself, drilling is continuing to test the belief that there are two levels of zinc and lead mineralisation. Hole TC-2638-60 intersected a wide zone at the lower target area including some good zinc grades.
Plans are now underway for the 2011 drilling programme, which will see up to 4 or 5 rigs drilling upwards of 50 holes in the Stonepark area.
This announcement has been reviewed and approved by the Company's technical director Graham Reid (P.Geo) in his capacity as the Qualified Person for the purposes of the AIM Guidance Note for Mining, Oil and Gas Companies issued by the London Stock Exchange. Mr Reid is a Member of The Institute of Geologists of Ireland (IGI) and The Society of Exploration Geophysicists (SEG) and has over 30 years experience in mineral and site investigation fields.
Enquiries: | |
Connemara Mining Company Plc | |
John Teeling, Chairman | +353 (0)1 833 2833 |
Jim Finn, Financial Director | |
Smith & Williamson Corporate Finance Limited | |
Nick Reeve | +44 (0) 117 3762213 |
Barrie Newton | +44 (0) 117 3762213 |
College Hill | |
Nick Elwes | +44 (0) 207 457 2020 |
www.connemaramining.com