Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video 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

23 Apr 2010 07:00

RNS Number : 6640K
Connemara Mining Company plc
23 April 2010
 



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

Including:

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

Including:

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:

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

College Hill

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.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DRLLLFLDSIIFFII
Date   Source Headline
16th Jul 20084:07 pmRNSNotice of Results
14th Jul 20088:21 amBUSHolding(s) in Company
2nd Jul 200812:15 pmRNSAGM Statement
11th Jun 20087:00 amRNSSonicFocus in HP's new PC
5th Jun 20087:00 amRNSFinal Results
4th Jun 20087:00 amRNSDrilling Report
3rd Jun 20087:00 amRNSViXS Systems Partnership
28th May 20087:00 amRNSDrilling Report
15th May 200810:26 amBUSDirector/PDMR Shareholding
13th May 20084:43 pmBUSBlocklisting Interim Review
8th May 20087:01 amRNSCustomer Win - Flash Market
8th May 20087:01 amRNSCustomer Win - TM Technology
29th Apr 20083:27 pmBUSHolding(s) in Company
29th Apr 20083:26 pmBUSHolding(s) in Company
29th Apr 20083:21 pmBUSAnnual Information Update
23rd Apr 20084:44 pmBUSHolding(s) in Company
23rd Apr 20087:00 amRNSInterim Management Statement
22nd Apr 200810:25 amRNSResult of AGM
21st Apr 20083:57 pmBUSAnnual report & accounts
18th Apr 20083:42 pmBUSHolding(s) in Company
9th Apr 20087:00 amRNSDrilling Report
7th Apr 20082:18 pmRNSHolding(s) in Company
31st Mar 20087:03 amRNSRe: Toshiba Collaboration
26th Mar 200811:28 amBUSHolding(s) in Company
11th Mar 20087:02 amRNSArc Power saving Energy PRO
11th Mar 20087:02 amRNSArc Sonic Focus-Ready
4th Mar 200811:24 amBUSHolding(s) in Company
3rd Mar 20087:02 amRNSCustomer Announcement
20th Feb 20087:01 amRNSCustomer Announcement
20th Feb 20087:00 amRNSFinal Results
19th Feb 20086:20 pmBUSHolding(s) in Company
13th Feb 20087:02 amRNSCustomer Announcement
13th Feb 20087:01 amRNSCustomer Announcement
13th Feb 20087:01 amRNSCustomer Announcement
12th Feb 20087:02 amRNSProduct Integration
12th Feb 20087:01 amRNSAcquisition
6th Feb 20087:01 amRNSNew License Agreement
14th Jan 20087:01 amRNSCES 2008: ARC Update
9th Jan 20087:01 amRNSTrading Update
2nd Jan 20083:59 pmBUSTotal Voting Rights
17th Dec 20077:00 amRNSDrilling Report
3rd Dec 200712:26 pmBUSTotal Voting Rights
28th Nov 20077:00 amRNSDrilling Report
21st Nov 200710:24 amBUSHolding(s) in Company
16th Nov 20074:55 pmBUSDirector/PDMR Shareholding
9th Nov 200712:32 pmBUSHolding(s) in Company
9th Nov 200712:32 pmBUSHolding(s) in Company
7th Nov 20077:00 amBUSBlocklisting Interim Review
29th Oct 20076:45 amBUSARC Wins Cadence Design Systems' ''Collaboration Award'' for the Second Consecutive Year
10th Oct 20077:45 amBUSConfigCon Silicon Valley 2007: ''Multimedia Solutions Fueling The YouTube Generation''

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.