Conroy Gld&nres Regulatory News (CGNR)

13 Feb 2006 16:22

This announcement replaces the announcement released earlier today at 11.27. This announcement now shows the correct headline of "Further re: Testing of Samples. 13 February 2006 Conroy Diamonds and Gold plc ("Conroy") CONROY RECEIVES POSITIVE RESULTS FROM FIVE OF SIX NEW TARGETS SAMPLED ON ARMAGH-MONAGHAN GOLDBELT * Deep Overburden Testing Show Targets 5 & 6 Form Single Area 1km By 500m * Follow-Up Sampling Required To Define Periphery Of Target Area Conroy Diamonds and Gold Plc is pleased to announce further positive resultsfrom its ongoing programme of closely-spaced deep overburden sampling on theten targets first announced last April on its Longford-Down Massif licences inthe north of Ireland. Six of the ten targets, originally defined by shallowsoil geochemistry, have now been sampled in this way, and five have returnedpositive gold results.The latest sampling, mostly to bedrock, encountered anomalous gold over wideareas with values of up to 172 parts per billion ("ppb") gold returned fromTarget 5 and a peak value of 334ppb from Target 6. Background values in thisarea are typically less than 4ppb gold, and 10ppb is considered anomalous.Conroy says it now believes that these two targets constitute a single anomalywhich measures approximately 1,000m by 500m. The company also reports that someof the anomalous results occur at the periphery of the target areas, andfurther follow-up sampling will be required to fully define the extent of thecombined Target 5/6 area.All of the targets sampled to date have a spatial relationship with the OrlockBridge Fault, which is believed to be a controlling factor on goldmineralisation within the Company's licences.The ten new targets lie within a 20km‚² section of the Armagh-Monaghan Gold Beltthat also includes the Company's Tullybuck-Lisglassan and Glenish golddiscoveries. The targets are regarded as being highly prospective because theyrelate to intersections of deep-seated lineaments along the Orlock BridgeFault. Such lineaments are particularly important as major gold depositselsewhere in the world frequently form on or close to such structures.To date, the Armagh-Monaghan Gold Belt has been outlined over an area of about60km2. This represents less than 5% of the Company's total licence area in theLongford-Down Massif.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.comENDCONROY DIAMONDS & GOLD PLC