The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksArkle Res Regulatory News (ARK)

Share Price Information for Arkle Res (ARK)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.275
Bid: 0.25
Ask: 0.30
Change: 0.00 (0.00%)
Spread: 0.05 (20.00%)
Open: 0.275
High: 0.275
Low: 0.275
Prev. Close: 0.275
ARK Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

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
1st Oct 20077:45 amBUSARC New VTOC(R) 4.0 Modeling Toolset Speeds Creation of Fast Cycle-Accurate C++ and SystemC Models
28th Sep 20078:00 amBUSTotal Voting Rights
24th Sep 20077:02 amRNSAcquisition of Alarity
24th Sep 20077:00 amBUSARC Acquires Alarity Corporation; Establishes Multimedia Development Center in St. Petersburg, Russia
19th Sep 20077:01 amRNSInterim Results
18th Sep 20077:00 amBUSARC Releases New MetaWare(R) Development Toolkit Featuring Lower Power and Smaller Code Size
11th Sep 20077:03 amRNSAgreement with Intel
11th Sep 20077:00 amBUSARC Signs Licensing Agreement for Configurable Solutions For Next-Generation Computing Products
10th Sep 20077:45 amBUSARC and Cadence Offer New Low-Power Design Methodology for Demanding Mobile Applications
10th Sep 20077:45 amBUSARC Announces Ultra Low Power Technology ''Energy PRO'' That Lowers Core and Subsystem Power by Four Fold
6th Sep 20075:08 pmBUSHolding(s) in Company
31st Aug 20073:03 pmBUSTotal Voting Rights
22nd Aug 200711:12 amRNSAGM Statement
16th Aug 200712:03 pmRNSAIM Rule 26
13th Aug 20077:46 amBUSNew ARC(R) VRaptor(TM)-Based Video Subsystems Receive Strong Industry Support
13th Aug 20077:45 amBUSGagan Gupta is Senior Director of Product Marketing at ARC International. Gagan is responsible for product planning and definition of ARC's multimedia subsystems and configurable processors. (Photo: Business Wire)
9th Aug 20074:27 pmBUSHolding(s) in Company
9th Aug 20074:21 pmBUSHolding(s) in Company
9th Aug 20074:19 pmBUSHolding(s) in Company
7th Aug 20073:45 pmBUSHolding(s) in Company
7th Aug 20073:35 pmBUSHolding(s) in Company
1st Aug 20077:01 amRNSInterim Results
1st Aug 20077:00 amBUSARC International plc Announces Unaudited Preliminary Results For the Six Months Ended June 30, 2007
31st Jul 20077:00 amRNSAdmission to AIM
12th Jul 200710:08 amRNSNotice of Results
11th Jul 20079:00 amRNSSummary of Deals
11th Jul 20077:00 amBUSMedical Device Company CVRx Adopts Configurable ARC(R) Core For Implantable Blood Pressure Reduction Device
11th Jul 20077:00 amBUS11 North American Companies Adopt ARC's Low Power Configurable Solutions for a Wide Range of High-Volume Applications
10th Jul 20074:30 amBUSConfigCon(TM) Shanghai 2007 Excites China's SoC Developer Community With Messages on Creating Multimedia Solutions Using Configurable Subsystems and Processors
29th Jun 20075:44 pmBUSTotal Voting Rights
21st Jun 20077:01 amRNSAppointment of NED
21st Jun 20077:00 amBUSARC Introduces New Modeling and Simulation Products to Speed ''Time to Market'' of ARC-Based(TM) SoCs
21st Jun 20077:00 amBUSARC International Appoints Steven Gunders As Non Executive Director
15th Jun 20077:02 amRNSAcquisition
15th Jun 20077:00 amBUSARC Acquires Tenison to Speed Time to Market Of Customers' Complex SoC Designs; Establishes Cambridge Engineering Center
13th Jun 20074:57 pmBUSHolding(s) in Company
12th Jun 20074:02 pmBUSHolding(s) in Company
7th Jun 20074:36 pmBUSHolding(s) in Company
1st Jun 20079:55 amBUSTotal Voting Rights
21st May 20078:31 amBUSHolding(s) in Company
17th May 200712:50 pmBUSChange of Registerd Office
16th May 20074:58 pmBUSDirector/PDMR Shareholding
16th May 20078:00 amBUSMicrosoft and RealNetworks Led the Agenda at ConfigCon(TM) Taiwan 2007; Event Attracted Record Crowd
25th Apr 20078:00 amRNSAnalyst & Investor Conference
16th Apr 20077:00 amRNSContract Extension
16th Apr 20077:00 amBUSARC Building Advanced CPF-Enabled Flow to Lower Power Consumption of Its Configurable Subsystems and Cores
16th Apr 20077:00 amBUSBroadcom Standardizes on ARC's Configurable Technology for High Volume Multimedia Applications
11th Apr 20077:00 amBUSBlocklisting Interim Review
5th Apr 20074:40 pmBUSTotal Voting Rights
5th Apr 20074:39 pmBUSHolding(s) in Company

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.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.