Conroy Gld&nres Regulatory News (CGNR)

26 Jun 2006 12:26

This announcement replaces the earlier announcement released at 07.00 todayunder the headline of Trading Statement to reflect a change in the headline. Conroy Diamonds and Gold PLC (the "Company") June 26 2006AIRBORNE GEOPHYSICAL SURVEY COMPLETED OVER MOST OF CONROY'S LONGFORD-DOWN GOLD LICENCE AREA * 90 Per Cent. Covered By Multi-Component Survey Flown At 200m Line Spacing * Fundamental To Gaining Full Understanding Of The Area's Gold Potential * Company Anticipates Receipt Of Some Preliminary Results In 6-8 Weeks Conroy Diamonds and Gold Plc is pleased to announce the completion of adetailed multi-component airborne geophysical survey over approximately 90 percent. of its Longford-Down gold prospecting licences in Ireland, an area ofabout 500 miles2 or 1200km2.This is a major step forward in the Company's gold exploration programme in theLongford-Down Massif which has already identified a gold trend extending for atleast 50 miles along strike from Co. Armagh, through Co. Monaghan and into Co.Cavan.Gold mineralisation within this area is known to be structurally controlled,the relationship between the major Orlock Bridge Fault and a series of crosscutting faults being one of the main components. The airborne survey willenhance the Company's structural and geological knowledge of the entire projectarea and will be particularly useful in those areas covered by deep glacialtill.The results will complement the Company's extensive data base of results fromsoil sampling, trenching and drilling programmes on its licences, together withits Landsat Enhanced Thematic Mapper (ETM) and Digital Terrain Model (DTM)data. Together, this information will provide a more comprehensive geologicalpicture of the entire licence area, enhance the Company's understanding of itand highlight its potential to host one or more major gold deposits.The survey was flown by the Geological Survey of Finland, in conjunction withthe British Geological Survey, and included magnetics, electromagnetics,calculated resistivity, radiometrics and laser altimetry, together with aerialphotography.The aircraft used was a fixed-wing DHC Twin-Otter with two magnetometers, 4frequency EM, and Gamma-ray spectrometry. The survey was flown on a 200m linespacing at an altitude of only 55m.Commenting, Chairman Professor Richard Conroy said: "The successful completionof the airborne geophysical survey is an important step forward in theCompany's progress towards establishing a significant new gold province".Data from the airborne survey are now being assessed and the Company expects toreceive some preliminary results in 6-8 weeks, although full analysis andinterpretation will take somewhat longer.Further Information:Professor Richard Conroy, Chairman Conroy Diamonds and Gold Plc. Tel:00-353-1-661-8958Charles Dampney, City Capital Securities Ltd. Tel: 020-7822-7107Ron Marshman/John Greenhalgh, City of London PR Limited. Tel: 020-7628-5518Visit website at: www.conroydiamondsandgold.comConroy Share PriceENDCONROY DIAMONDS & GOLD PLC