Last checked at 14 Apr 2015 07:00
14th April 2015
Connemara Mining Company plc ("Connemara")
Five New Prospecting Licences
Connemara Mining (AIM: CON) is pleased to announce the acquisition of five new prospecting licences covering 187 sq km on the Innisowen peninsula in County Donegal, Ireland. This area contains the former the Glentougher Lead Silver mine. The area is considered by Connemara geologists to be prospective for high grade gold mineralisation and also have potential for base metal deposits. Rock samples containing up to 104g/t gold were identified in 2011 by the previous licence holder, but no high grade outcrop was discovered. The release of the Tellus Survey data confirmed the presence of elevated gold in the area and highlighted further target areas for investigation. A total of 16 target areas have been identified by Connemara from historic work and the latest Tellus Survey data. An initial prospecting programme is commencing in the coming days with first results expected in July.
The chairman, John Teeling, "This move by Connemara furthers the aggressive stance we are taking in discovering Ireland's next gold deposit. It is worth noting that the new licence block is located within the Scottish-Irish Gold Belt along trend from the discovery by Dalradian Gold where they have recently announced an inferred gold resource of 3.5 million ounces."
Connemara is a diversified exploration company with principal assets in gold, zinc and lead exploration licences in Ireland. The company holds interests in 35 licenses covering an area of approximately 1, 350 sq km.
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 Professional Member of The Institute of Geologists of Ireland (IGI) and The Society of Exploration Geophysicists (SEG) and has over 30 years' experience in mineral exploration and site investigation fields.
Enquiries:
Connemara Mining Company Plc | |
John Teeling, Chairman | +353 1 833 2833 |
Jim Finn, Director | |
Westhouse Securities Limited | |
Martin Davison | +44 (0) 20 7601 6100 |
Robert Finlay | |
Dowgate Capital Stockbrokers Limited | |
Jason Robertson | +44 (0) 1293 517744 |
Blytheweigh | +44 (0) 20 7138 3204 |
Tim Blythe | +44 (0) 7816 924 626 |
Halimah Hussain | +44 (0) 7725 978 141 |
Camilla Horsfall | +44 (0) 7817 841 793 |
PSG Plus | |
Aoife Ross | +353 1 661 4055 |
Alan Tyrrell | +353 1 661 4055 |
www.connemaramining.com