Less Ads, More Data, More Tools Register for FREE

Pin to quick picksArkle Res Regulatory News (ARK)

Share Price Information for Arkle Res (ARK)

Share Price is delayed by 15 minutes
Get Live Data
0.75    0.025 (3.45%)
Bid:
0.70
Ask:
0.80
Spread: 0.10 (14.286%)
Market Cap: £11.89m
ARK Live PriceLast checked at - London Stock Exchange

Intraday Arkle Res Share Chart

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
6th Jan 20212:22 pmRNSHigh Grade Gold Bearing Vein Outcrops Identified
31st Dec 20207:00 amRNSTotal Voting Rights
10th Dec 20207:00 amRNSOperational Update
7th Dec 20201:33 pmRNSExercise of Warrants
2nd Dec 20201:21 pmRNSTotal Voting Rights
26th Nov 202011:52 amRNSDiscovery of Gold Bearing Vein at Mine River
3rd Nov 20204:20 pmRNSExercise of Warrants
2nd Nov 20207:00 amRNSExploration Update on Arkle Gold Projects
29th Oct 20209:05 amRNSSecond Price Monitoring Extn
29th Oct 20209:00 amRNSPrice Monitoring Extension
2nd Oct 202010:17 amRNSTotal Voting Rights
28th Sep 20207:00 amRNSInterim Statement ended 30 June 2020
25th Sep 20209:21 amRNSPositive Results from Soil Sampling at Inishowen
10th Sep 20201:00 pmRNSDrilling begins at Stonepark Zinc Project
9th Sep 202010:27 amRNSSoil sampling results Mine River
7th Sep 20204:22 pmRNSHolding(s) in Company
17th Aug 20201:52 pmRNSPlacing to Accelerate Gold and Zinc Exploration
10th Aug 20207:00 amRNSGold Prospecting at Wicklow and Donegal
29th Jul 202010:49 amRNSBoard Changes and Operating Update
24th Jul 20202:47 pmRNSResults of Annual General Meeting
26th Jun 20207:00 amRNSPosting of Annual Report and Notice of AGM
22nd Jun 20207:00 amRNSFinal Results for the Year Ended 31 December 2019
1st Jun 202010:27 amRNSTotal Voting Rights
20th May 20204:41 pmRNSSecond Price Monitoring Extn
20th May 20204:36 pmRNSPrice Monitoring Extension
20th May 20202:05 pmRNSSecond Price Monitoring Extn
20th May 20202:00 pmRNSPrice Monitoring Extension
19th May 20203:28 pmRNSGrant of Options
18th May 20207:00 amRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
18th May 20207:00 amRNSPlacing to Raise £250,000
15th May 20201:55 pmRNSJV Partner Receives Further Funding from Glencore
30th Apr 20206:30 pmRNSTotal Voting Rights
29th Apr 20204:23 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
22nd Apr 202011:28 amRNSResults of Extraordinary General Meeting
21st Apr 20201:00 pmRNSDrilling planned at Stonepark
31st Mar 20207:00 amRNSNotice of Extraordinary General Meeting
27th Mar 20207:00 amRNSConditional Placing to Raise £252,000
3rd Mar 20207:00 amRNSArkle at PDAC 2020
31st Dec 201912:02 pmRNSHolding(s) in Company
3rd Dec 20194:34 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
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

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.