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Drilling Update

25 May 2011 07:00

RNS Number : 2157H
Connemara Mining Company plc
25 May 2011
 



25th May 2011

 

Connemara Mining Company plc

 

("Connemara" or the "Company")

 

Update on zinc discovery at Stonepark, Limerick, Ireland

 

 

·;

Hole 74 hits 8.65 metres at 7.72% zinc and 2.19% lead and extends the Stonepark North zone to the northeast

·;

Step out drilling 1km southwest of the Stonepark North zone hits low grade zinc-lead mineralization

·;

Six drill rigs on site drilling 25,000 metres in 2011

·;

Seismic reflection survey completed in April

·;

Geochemical soil survey completed in May

 

The board of Connemara Mining Company plc (AIM:CON) is pleased to present an update on exploration in the Limerick region. The programme is a joint venture between Connemara (25%) and Teck Ireland Ltd. ("Teck") (75%).

 

Drilling is ongoing in Limerick with six rigs on site. Hole 74 intersected a 8.65 metre zone grading 7.72% zinc and 2.19% lead at 220 metres depth including 2.85 metres at 17.41% zinc and 3.98% lead from 224.45 metres. Hole 74 was drilled to the northeast of hole 45 (see press release of April 23rd, 2010) which intersected 7.45 metres of 19.2% zinc and 8.5% lead. This latest hole extends the Stonepark North zone by approximately 120 metres to the northeast. Drilling to-date at Stonepark North has defined a flat-lying zone of zinc-lead mineralization at 200 to 250 metres depth, with a strike length of at least 800 metres in a north-south direction and around 100-150 metres wide. The zone is still open.

 

A number of other wide-spaced step-out drill holes have also intersected thick zones of hydrothermal black matrix breccia with low grade zinc-lead mineralization. These intersections, located up to 1 km to the southwest of hole 74, are significant as they show that the Stonepark North massive sulphide zone is part of a much larger hydrothermal ore-forming system. See Table 1 for assay results.

 

Table 1: Stonepark Drilling Highlights

Hole ID

From (m)

To (m)

Thickness1 (m)

Zinc (%)

Lead (%)

TC-2638-074

220.00

228.65

8.65

7.72

2.19

Including:

TC-2638-074

224.45

227.3

2.85

17.41

3.98

TC-2638-064

273.00

276.10

3.10

1.92

0.56

TC-2638-064

288.00

290.00

2.00

1.09

0.01

TC-2638-071

260.30

262.00

1.70

3.01

0.09

1All drill holes are vertical (-90 degrees).

 

Drill testing of new targets across the entire block of Monaster licences is ongoing with the aim of discovering new zones of sulphide mineralization. Targets are being defined using the newly acquired airborne gravity data combined with the results of the recent multi-element soil geochemistry program. Results from a recently completed seismic reflection survey will also be used to further define these targets and to refine the location of major faults that may control the system.

 

Encouraging results have come from an area 6km to the southwest of Stonepark North where drilling has intersected hydrothermal black matrix breccia with trace zinc mineralization. Drilling indicates that this mineralization is adjacent to a large and previously unrecognized fault. Further step-out drilling is planned.

 

John Teeling, Chairman, commented:

"The Connemara/Teck joint venture in Limerick continues to excite. The Stonepark North discovery is extended by another high grade result 120 metres to the northwest including 2.85 metres of over 20% combined zinc and lead. Interesting results have been found 1km away from Stonepark offering the possibility of a much bigger mineralized system. 6km to the southwest drilling has discovered low grade mineralization but more importantly has identified a previously unknown fault.

 

A wide array of modern sophisticated techniques are being employed to better target drill holes.

 

This year we will drill 25 kilometres on the Limerick licenses. Currently 6 rigs are working on the block. The discoveries are world class with huge potential but a lot more work needs to be done."

 

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

College Hill

Nick Elwes

+44 (0) 207 457 2020

Optiva Securities Ltd

Jason Robertson

+44 (0) 203 137 1906

Jeremy King

+44 (0) 203 137 1904

 

www.connemaramining.com

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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25th Oct 20237:00 amRNSGranting of new lithium exploration ground
26th Sep 20237:00 amRNSInterim Statement
27th Jul 202311:30 amRNSResults of Annual General Meeting
27th Jun 20237:00 amRNSFinal Results for the Year Ended 31 December 2022
22nd Jun 20231:20 pmRNSHolding(s) in Company
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31st Jan 202311:00 amRNSReview of 2022 Drilling on Stonepark
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30th Nov 20227:00 amRNSTotal Voting Rights
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14th Nov 20227:00 amRNSPlacing to Raise £200,000
29th Sep 20227:00 amRNSInterim Statement
27th Sep 202211:00 amRNSAdditional Drilling on Stonepark
15th Sep 202211:00 amRNSRecommencement of Drilling on Stonepark Licences
9th Aug 202211:00 amRNSUpdate on Stonepark Operation
5th Aug 202211:14 amRNSResult of Annual General Meeting
30th Jun 20227:00 amRNSFinal Results for the Year Ended 31 December 2021
23rd Jun 20227:00 amRNSGrant of Three Licences in Zimbabwe
16th Jun 202211:00 amRNSSignificant Zinc Target Discovered
31st May 20227:00 amRNSTotal Voting Rights
3rd May 20229:05 amRNSSecond Price Monitoring Extn
3rd May 20229:00 amRNSPrice Monitoring Extension
28th Apr 202212:02 pmRNSExercise of Warrants
1st Mar 202212:29 pmRNSTotal Voting Rights
22nd Feb 20227:00 amRNSExercise of Warrants
2nd Feb 202211:00 amRNSDrilling Begins at Stonepark
19th Jan 202211:00 amRNSDrilling to Begin on Stonepark
24th Nov 20217:00 amRNSUpdate at Mine River
30th Sep 20217:00 amRNSInterim Statement for period ended 30 June 2021
10th Sep 20212:50 pmRNSHigh grade gold intersected at Mine River
4th Aug 20218:50 amRNSFurther results from drilling at Mine River
27th Jul 20211:35 pmRNSResult of Annual General Meeting
13th Jul 20217:00 amRNSPreliminary results from drillhole 4 at Mine River
25th Jun 20219:38 amRNSFinal Results for the Year Ended 31 December 2020
16th Jun 202112:15 pmRNSUpdate on Mine River Drilling
21st May 20217:00 amRNSFirst Drillhole at Mine River Intersects Gold

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