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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
 
 
DRLLLFEEEEISFIL
Date   Source Headline
25th Nov 20197:00 amRNSStonepark Strategic Review
19th Nov 201912:38 pmRNSDirector Resignation
13th Nov 20191:00 pmRNSNew Prospective Features Identified at Stonepark
16th Oct 20197:00 amRNSStonepark partner receives funding from Glencore
27th Sep 20197:00 amRNSInterim Statement for period ended 30 June 2019
17th Sep 20197:00 amRNSNew Gold Target at Inishowen
24th Jul 20192:17 pmRNSResults of Annual General Meeting
24th Jul 20197:00 amRNSSignificant Gold Anomalies at Mine River Project
27th Jun 20197:00 amRNSPosting of Annual Report and Notice of AGM
24th Jun 20197:00 amRNSFinal Results for the Year Ended 31 December 2018
7th May 20191:00 pmRNSNew Mineralisation at Stonepark Zinc Project
1st Apr 20194:14 pmRNSTotal Voting Rights
21st Mar 20194:10 pmRNSChange of Name and Update
12th Mar 20193:24 pmRNSHolding(s) in Company
12th Mar 201912:37 pmRNSResult of EGM
5th Mar 201912:31 pmRNSFundraising of £230,000
12th Feb 20197:00 amRNSProposed Change of Name
24th Jan 20191:00 pmRNSExploration Update at Stonepark Zinc Project
21st Jan 20197:00 amRNSChange of Nominated Adviser and Broker
24th Oct 20181:00 pmRNSFurther Drilling at Stonepark Zinc Project
26th Sep 20187:00 amRNSInterim Report
30th Jul 20187:00 amRNSHolding(s) in Company
25th Jul 20181:32 pmRNSResults of Annual General Meeting
5th Jul 20187:00 amRNSDirector/PDMR shareholding
4th Jul 20187:00 amRNSDrilling Recommences at Oldcastle Zinc Project
29th Jun 20187:00 amRNSPosting of Annual Report and Notice of AGM
25th Jun 201811:23 amRNSMine River Exploration Update
22nd Jun 20187:00 amRNSFinal Results for the Year Ended 31 December 2017
18th Jun 20181:01 pmRNS32.2% Zinc + Lead combined over 5.4m at Stonepark
17th Apr 20182:58 pmRNSMaiden Resource at Stonepark Zinc Project
17th Apr 20187:00 amRNSUK Investor Show 21st April 2018
28th Mar 20187:00 amRNSDrilling Commences at Mine River Gold Project
26th Mar 20187:00 amRNSBusiness Strategic Update
21st Mar 201810:50 amRNSHolding(s) in Company
16th Mar 20182:14 pmRNSInvestor Presentation
15th Mar 20184:23 pmRNSHolding(s) in Company
15th Mar 20189:44 amRNSHolding(s) in Company
9th Mar 20187:00 amRNSDrilling to Commence at the Stonepark Zinc Project
26th Feb 20187:00 amRNSStrategic Financing and Board Restructuring
11th Jan 20187:13 amRNSProspecting Update - Wicklow/Wexford Gold Project
2nd Jan 20182:55 pmRNSHolding(s) in Company
21st Dec 20177:00 amRNSUpdate on Gold Drilling and Field Exploration
16th Nov 20179:52 amRNSGold Drilling to Commence at Mine River
9th Nov 20171:37 pmRNSHolding(s) in Company
9th Nov 20178:52 amRNS14.25g/t gold over 0.5m at Inishowen
27th Oct 20177:00 amRNSDrilling Completed at Inishowen
25th Oct 20172:29 pmRNSHolding(s) in Company
19th Oct 201711:50 amRNSHolding(s) in Company
19th Oct 20177:00 amRNSAcquisition Increases Wicklow Gold Strike Length
17th Oct 201710:14 amRNSReport On Stonepark Zinc Published

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