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
0.85    0.075 (9.68%)
Bid:
0.80
Ask:
0.90
Spread: 0.10 (12.50%)
Market Cap: £13.48m
ARK Live PriceLast checked at - London Stock Exchange

Intraday Arkle Res Share Chart

Exploration Update

8 Sep 2011 07:00

RNS Number : 8303N
Connemara Mining Company plc
08 September 2011
 



 

Connemara Mining Company plc

 

("the Company")

 

  

New Zinc Discovery at Stonepark in Limerick

 

·; New zone of high grade mineralization intersected at Stonepark West; 1.7km southwest of the Stonepark North zone

·; Hole 86 intersects 2.5m at 4.16% zinc and 4.37% lead from 382.5m

·; Additional drilling at Stonepark North has extended the mineralization 250m to the North with hole 78 intersecting 1m @ 5.97% zinc and 0.24% lead from 339.8m

·; Step out drilling has also intersected hydrothermal breccias extending 2km Southwest of the new Stonepark West discovery

·; 25,000 metre drilling program for 2011 is ongoing with four drill rigs on site

 

The board of Connemara Mining Company Plc ("Connemara", AIM:CON) is pleased to present an exploration update on our zinc-lead discovery in Limerick. The programme is a joint venture between Connemara (25%) and Teck Ireland Ltd. ("Teck") (75%).

 

Hole 86, located 1.7km southwest of the Stonepark North zinc discovery, intersected high grade zinc and lead mineralisation of 2.5m of 4.16% zinc and 4.37% lead beginning at a depth of 382.5 metres (see Table 1 for results). We are calling this new discovery "Stonepark West". The mineralisation is hosted in a geological setting similar to that of Stonepark North.

 

In addition, hole 64, located 580 metres east of the new discovery, between Stonepark North and Stonepark West, has intersected 3.1m of 1.92% zinc and 0.56% lead at a depth of 273 metres with further zinc-lead mineralisation discovered at 288 metres. Drilling 1.5km to the west of the new discovery has also intersected hydrothermal breccias similar to those in Stonepark West. This drilling was targeted using the results of the soil geochemistry survey conducted in the area earlier in the year.

 

The Stonepark West discovery is significant in that it is likely to be a totally new zone of zinc-lead to add to that at Stonepark and Stonepark North. The similarity in the geology between Stonepark West and the Stonepark zones suggests that the area between them could contain additional zinc-lead zones while the mineralisation found 1.5km west of Stonepark West offers the potential for further extensions.

 

At Stonepark North, drilling has intersected 1m of 5.97% zinc and 0.24% lead in hole 78, 250m north of hole 74, which intersected 8.65m comprising 7.72% zinc and 2.19% lead from 220m. This mineralization forms part of the lower zone of zinc-lead and is at the same stratigraphic level as the mineralization at Stonepark some 1.7km away.

 

Table 1: Stonepark Drilling Highlights

Hole ID

From (m)

To (m)

Thickness1 (m)

zinc (%)

lead (%)

TC-2638-086

382.5

385

2.5

4.16

4.37

Including:

383.9

385

1.1

6.13

4.63

TC-2638-078

339.8

340.8

1

5.97

0.24

TC-2638-0742

220.00

228.65

8.65

7.72

2.19

Including:

TC-2638-0742

224.45

227.3

2.85

17.41

3.98

TC-2638-0642

273.00

276.10

3.10

1.92

0.56

TC-2638-0642

288.00

290.00

2.00

1.09

0.01

TC-2638-0712

260.30

262.00

1.70

3.01

0.09

1All drill holes are vertical (-90 degrees). 2Reported 25th May 2011.

 

John Teeling, Chairman, commented:

 

"These are very positive and significant results. The discovery at Stonepark West appears to be a new zone, typical of Irish zinc orebodies. That in itself is significant, but the results in other holes to the east (hole 64), between Stonepark North and Stonepark West, and 1.5km to the west also contain mineralisation. There is now evidence to indicate that more zones of zinc-lead will be discovered in what is becoming a large area of zinc-lead mineralisation. Step out drilling continues.

 

Meanwhile, at the earlier discovery in Stonepark North, drilling 250m to the north of the recently announced (May 25th) high grade discovery of over 9.90% combined zinc and lead over 8.65 metres found 6.2% combined zinc-lead at 339.8 metres. This is very significant as this discovery is at the same depth as the earlier Stonepark discoveries some 1.7km away from Stonepark North. This also strengthens the possibility of the Stonepark discovery stretching to Stonepark North at a greater depth and could result in there being two zones in the Stonepark North area.

 

The potential of the Monaster block of licences is growing. Every drill hole is extending the area of mineralisation. This is a very big system with potential open in most directions. We continue to use four rigs and will have drilled 25,000 metres by year end."

 

 

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 & 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

 

Westhouse Securities Limited

Richard Baty +44 (0)20 7601 6100

Tim Feather

 

College Hill

Nick Elwes +44 (0) 207 457 2020

 

www.connemaramining.com

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DRLFMGGLKNFGMZM
Date   Source Headline
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''
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

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.