Conroy Gld&nres Regulatory News (CGNR)

Conroy Gold & Natural Resources Plc - Business Update

PR Newswire

London, January 28

29 January 2018

Conroy Gold and Natural Resources plc

(“Conroy Gold” or “the Company”)

Business Update

Conroy Gold and Natural Resources plc ("Conroy Gold “or” the Company") (AIM:CGNR) the gold exploration and development Company focused on Ireland and Finland, is pleased to announce that further to the recent strategic financing (announced on 21 December 2017) the Company is accelerating development on its Irish gold property with a focus on commercialisation of key business interests and proactive ground exploration of significant gold targets. 

The Company has put in place a drill programme, which will commence shortly, to increase the known JORC resource of 517,000 ounces of gold at Clontibret and to convert inferred into indicated resources for the purpose of calculating reserves.

The drill programme is also planned to expand the overall gold resource on the Company’s licence area on which, as indicated in the recent annual report, the combined Clay Lake/Clontibret area alone has the potential to host a significant number of contained ounces.

Professor Richard Conroy, Chairman of Conroy Gold stated:

“I am very pleased to report that following the Strategic Financing in December that we now have the funds in place to accelerate the work necessary to enable us develop a mine at our Clontibret/Clay Lake target."

Based on the work already done we believe we have the opportunity on our licence area in Ireland to develop a world class mining project. The focus will be on Clontibret initially as we look to bring in the first gold mine on our property into production at the earliest opportunity."

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