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

20 Jul 2010 07:00

RNS Number : 5808P
Connemara Mining Company plc
20 July 2010
Β 

ο»Ώ

July 20th, 2010

Β 

Connemara Mining Company Plc

Β 

("Connemara Mining", "Connemara" or the "Company")

Β 

Drilling Extends High-Grade Zinc-Lead Mineralisation

at Stonepark North Zone in Limerick

Β 

Β 

Β·;

Drilling at Stonepark North has now defined a zone of zinc-lead mineralization with a strike length of at least 650 metres

Β·;

Hole 55 intersected 4.9m at 10.57% zinc and 3.05% lead from 195.0 metres depth, including a 2.75m interval at 16.47% zinc and 5.26% lead

Β·;

10,000m of diamond drilling planned in Limerick for 2010

Β·;

Β£1.06m raised to fund Connemara's drilling programme in 2010/2011

Β·;

Drilling ongoing with two rigs on site

Β 

Connemara Mining (AIM:CONN), the AIM listed Irish zinc explorer, is pleased to report additional results from the ongoing drilling programme in Limerick. The programme is a 75/25 joint venture with Teck Ireland Ltd., a subsidiary of Teck Resources Limited - Canada's largest diversified mining company. Teck Ireland is the operator

Β 

Hole 55 intersected a 4.9 metre zone of massive sulphides grading 10.57% zinc and 3.05 % lead from 195 metres depth, including a 2.75m zone at 16.47% zinc and 5.26% lead. Hole 55 is located approximately 150 metres northwest of hole 45 which intersected 7.5 metres at 19.2% zinc and 8.5% lead from 209 metres(see press release of April 23, 2010).

Β 

Drilling in the Stonepark North zone has now defined a flat-lying zone of zinc-lead mineralization with a strike length of at least 650 metres in a north-south direction and around 100 to 150 meters wide. The zone is located approximately 2 km north of the original Stonepark discovery and appears to represent the shallower, up-dip portion of a larger mineralizing system. The zone is still open to the north and south.

Β 

Drilling results are summarised in Table 1.

Β 

Table 1: Stonepark North Drilling Highlights

Hole ID

From (m)

To (m)

Thickness (m)

zinc (%)

lead (%)

TC-2638-055

195.0

199.9

4.9

10.57

3.05

Including:

196.75

199.5

2.75

16.47

5.26

TC-2638-0531

209.4

216.25

6.85

10.47

3.68

Including:

TC-2638-053

212.80

215.55

2.75

19.76

6.99

TC-2638-0511

221.40

228.95

7.55

4.88

1.49

Including:

TC-2638-051

224.05

225.05

1.00

21.90

7.26

TC-2638-0452

209.10

216.55

7.45

19.24

8.52

Including:

TC-2638-0452

211.85

216.10

4.25

26.64

12.30

TC-2638-0382

251.40

253.20

1.80

5.65

0.91

TC-2638-0363

202.70

208.05

5.35

13.22

3.18

TC-2638-0324

207.60

215.40

7.80

5.18

2.68

Including:

TC-2638-0324

214.05

215.40

1.35

10.40

2.16

TC-3638-0265

216.05

223.35

7.20

13.07

2.23

1Reported June 15th, 2010, 2Reported April 23rd, 2010. 3Reported March 2nd, 2010. 4Reported January 20th, 2010. 5Reported Sept. 4th, 2009.

Β 

Two drill rigs are currently on site and approximately 10,000 metres of diamond drilling is planned for 2010.

Β 

John Teeling, Chairman of Connemara Mining said, "Big high grade Irish style deposits are what we are looking for in Limerick. To date the results are encouraging. The latest drill result reported today, Hole 55 has significant commercial grade zinc and lead over good widths at a relatively shallow depth. The Stonepark North discovery continues to grow in size and importance. Already at least 650 metres in length and at least 100 metres wide the zone is open to the north and south. This reasonably shallow zone is flat lying with excellent grades of zinc and lead. These results enhance the potential of the Limerick properties. The recent placing ensures that Connemara is now fully funded for the 2010/2011 Stonepark work programme. We will also drill the prospective 100% owned licences in Thurles - adjacent to the large Vedanta owned Lisheen zinc mine"

Β 

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.

Β 

About Connemara

Β 

Connemara Mining holds an extensive portfolio of zinc exploration licences in Ireland, which is one of the world's main zinc producers, with two of the world's largest zinc mines, Navan (Boliden) and Lisheen (Vedanta). Connemara holds 16 licences in the Limerick region, where at least three significant zinc discoveries are being explored; the Connemara/Teck discovery at Stonepark, the Minco/Xstrata discovery at Pallas Green, adjacent to Stonepark, and the Belmore/Lundin discovery. The large Lisheen zinc mine owned by Vedanta lies 30 kilometres northeast of Stonepark.

Β 

About Zinc

Β 

Zinc is used in cars, roofing and white goods. Its properties make it suitable for die casting. It is the major element in galvanising. While zinc use is declining in the West, it is growing rapidly in the BRIC economies. World growth rates are expected to average 4% in the future as BRIC economies industrialise.

Β 

Supply is at best slow growing. Ireland is a major Zinc producer with two of the largest zinc mines in the world, the Tara mine at Navan and the Lisheen mine near Thurles.

Β 

Current prices of $1,850 a metre ton would be profitable for Irish style zinc deposits.

Β 

Enquiries:

Connemara Mining Company Plc

John Teeling, Chairman

+353 (0)1 833 2833

Jim Finn, Financial Director

Smith & Williamson Corporate Finance

Nick Reeve

+44 (0) 117 3762213

Barrie Newton

+44 (0) 117 3762213

Optiva Securities Limited

Jason Robertson

+44(0)203 137 1906

Jeremy King

+44(0)203 137 1904

College Hill

Nick Elwes

+44 (0) 207 457 2020

Β 

www.connemaramining.com

This information is provided by RNS
The company news service from the London Stock Exchange
Β 
END
Β 
Β 
DRLLLFIRDDIALII
Date   Source Headline
3rd Jun 20267:00 amRNSAppointment of Joint Broker
26th May 20267:00 amRNSDirector Dealing
22nd May 20267:00 amRNSUranium Targets Defined; Drilling Accelerated
12th May 20267:00 amRNSExercise of Warrants
23rd Apr 20267:00 amRNSDirector Dealing
17th Apr 20261:00 pmRNSAppointment of Nominated & Financial Adviser
16th Apr 202611:44 amRNSStonepark Zinc Project – Operations Update
16th Apr 202611:28 amRNSStonepark Zinc Project – Operations Update
2nd Apr 20267:00 amRNSWarrant Exercise, Director Shareholdings & Options
1st Apr 20264:30 pmRNSTotal Voting Rights
1st Apr 20267:00 amRNSUranium Updates - Geophysical Surveys Complete
19th Mar 20262:12 pmRNSExercise of Warrants
13th Mar 20262:53 pmRNSExercise of Warrants
13th Mar 202611:12 amRNSStonepark Zinc Project - Drilling Update
13th Mar 202611:12 amRNSStonepark Zinc Project - Drilling Update
2nd Mar 20264:00 pmRNSTotal Voting Rights
27th Feb 20267:00 amRNSWarrants Exercise & Website Launch
26th Feb 20267:00 amRNSUranium Exploration Commenced in Namibia
23rd Feb 20267:00 amRNSCompany Updates
29th Jan 20267:00 amRNSAcquisition of Namibia Uranium and £1.7m Placing
18th Nov 20252:17 pmRNSUpdate on Stonepark
11th Nov 202511:48 amRNSHoldings in Company
25th Sep 20257:00 amRNSInterim Statement
30th Jul 202511:50 amRNSResult of Annual General Meeting
30th Jul 20257:00 amRNSPlacing to raise £500,000
9th Jul 20257:00 amRNSNew Prospecting Licence Awarded in Botswana
25th Jun 20257:00 amRNSFinal Results for the Year Ended 31 December 2024
16th Jun 202511:00 amRNSUpdate on Stonepark Zinc Project, Ireland
25th Feb 20257:00 amRNSLithium and Magnesium Identified in Botswana
6th Feb 202511:00 amRNSRefocus of Activities on Stonepark Zinc Licence
15th Jan 202511:00 amRNSDrilling Update on the Stonepark Zinc Project
27th Sep 20247:00 amRNSInterim Statement
18th Sep 20247:00 amRNSUpdate on Progress on African Lithium Licences
12th Sep 202411:00 amRNSDrilling Started on Stonepark Licence Block
25th Jul 202411:10 amRNSResult of Annual General Meeting
25th Jul 20247:00 amRNSUpdate on Botswana Lithium Exploration
4th Jul 202411:27 amRNSDirector/PDMR Dealings
3rd Jul 20248:00 amRNSStonepark Drilling Update
26th Jun 20247:00 amRNSFinal Results for the Year Ended 31 December 2023
31st May 20247:00 amRNSTotal Voting Rights
2nd May 20247:00 amRNSPlacing to Raise £270,000
4th Apr 202411:00 amRNSDrilling Update on Stonepark Property
1st Feb 20247:00 amRNSDonegal Gold Drilling Update
30th Jan 202411:00 amRNSNew licence awarded at Stonepark, Limerick
26th Jan 20247:00 amRNSAughrim Exploration Update
20th Dec 20237:00 amRNSGold Drilling Update
15th Dec 20237:00 amRNSAward of New Lithium Brines Licences
30th Nov 20234:30 pmRNSTotal Voting Rights
30th Nov 20237:00 amRNSDrilling to start on the Inishowen gold project
29th Nov 20237:00 amRNSPegmatites on new lithium exploration ground

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.