Last checked at 23 Apr 2010 07:00
23rd April 2010
Connemara Mining Company Plc
Continued Expansion of the Stonepark, Limerick, Zinc Discovery
| ·; | Hole 45 hits 7.45 metres of 19.2% zinc and 8.5% lead - the best intersection to-date on the project |
| ·; | Included in Hole 45 is 4.25 metres of almost 39% combined zinc-lead |
| ·; | Drilling continues to expand the Stonepark North zone which now stretches over 500 metres |
| ·; | 10,000 metres of diamond drilling is planned for 2010 |
Connemara Mining (AIM:Con), the AIM listed Irish zinc explorer, is pleased to report additional results from the ongoing drilling programme in Limerick. The Joint Venture programme is being operated by Teck Resources Ltd ("Teck"), a subsidiary Teck Resources Limited - Canada's largest diversified mining company. Connemara holds a 25% interest in the Joint Venture
Hole 45 (TC-2638-045) intersected a 7.45 metres thick zone of massive sulphides grading 19.2% zinc and 8.5% lead from 209.1 metres depth, including 4.25 metres of 26.64% zinc and 12.30% lead (see Table 1).
Table 1: Stonepark North Drilling Highlights
| Hole ID | From (m) | To (m) | Thickness1 (m) | Zinc (%) | Lead (%) |
| TC-2638-045 | 209.10 | 216.55 | 7.45 | 19.24 | 8.52 |
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| Including: |
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| TC-2638-045 | 211.85 | 216.1 | 4.25 | 26.64 | 12.30 |
| TC-2638-038 | 251.40 | 253.20 | 1.80 | 5.65 | 0.91 |
| TC-2638-0362 | 202.70 | 208.05 | 5.35 | 13.22 | 3.18 |
| TC-2638-0323 | 207.60 | 215.40 | 7.80 | 5.18 | 2.68 |
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| Including: |
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| TC-2638-0323 | 214.05 | 215.40 | 1.35 | 10.40 | 2.16 |
| TC-3638-0264 | 216.05 | 223.35 | 7.20 | 13.07 | 2.23 |
1All drill holes are vertical (-90 degrees). 2Reported March 2nd, 2010. 3Reported January 20th, 2010. 4Reported Sept. 4th, 2009.
Another recent drill hole (TC-2638-038) intersected 1.8 metres at 5.65% zinc and 0.91% lead from 251.4 metres within a broader zone 18 metre thick zone of black matrix breccia with an overall grade of 2.6 % zinc-lead.
Hole 45 is the eleventh drill hole at Stonepark North and is located approximately 150 metres north of drill hole 38 and approximately 450 metres north of drill hole 26. Hole 26, was drilled in August 2009, and marked the discovery of thick, high-grade, zinc-lead mineralisation at Stonepark North.
Drilling to-date in the Stonepark North zone has defined a flat-lying zone of zinc-lead with a strike length of at least 500 metres in a north-south direction. 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 mineralising system.
Two rigs are currently drilling on site. Approximately 10,000 metres of diamond drilling is planned for 2010.
John Teeling, Chairman, commented:
"This is a very significant result for a number of reasons. It is further confirmation of a high grade zinc discovery. The discovery now extends over 500 metres. The zone is at shallow depth. But, most importantly, this is a "sweet spot" which lifts the overall metal content in the deposit to grades which allow for economic mining. These latest results demonstrate that Stonepark can produce the right concentration of metal. Combined zinc-lead grades of 39% over mineable widths are exceptionally rare. Exploration will continue to outline the extent of this zone and will try to find others like it".
This release has been approved by Graham Reid, P. Geo., Director BRG Technical Services, consultants to Connemara. Mr. Reid has 30 years mineral exploration and evaluation experience.
| Enquiries: |
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| Connemara Mining Company Plc |
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| John Teeling, Chairman | +353 (0)1 833 2833 |
| Jim Finn, Financial Director |
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| Smith & Williamson Corporate Finance |
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| Nick Reeve | +44 (0) 117 3762213 |
| Barrie Newton | +44 (0) 117 3762213 |
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| College Hill |
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| Nick Elwes | +44 (0) 207 457 2020 |
www.connemaramining.com
About Connemara
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 (Anglo American). 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 Anglo American lies 30 miles northeast of Stonepark. Connemara has a total of 15 million shares in issue and the most recent share price was 18.5p.
About Zinc
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.
Current prices of $2,400 a metre ton would be profitable for Irish style zinc deposits.