Conroy Gld&nres Regulatory News (CGNR)

Conroy Gold & Natural Resources Plc - Gold in Bedrock Intersected at Slieve Glah

PR Newswire

London, July 2

3 July 2019

Conroy Gold and Natural Resources plc

(“Conroy Gold” or “the Company”)

GOLD IN BEDROCK INTERSECTED AT SLIEVE GLAH

Conroy Gold and Natural Resources plc (AIM: CGNR), the gold exploration and development Company focused on Ireland and Finland, is pleased to report that results from the Company’s 2019 drilling programme at Slieve Glah in the Longford - Down Massif in Ireland confirm the presence of gold in bedrock in Target Area 4.

Highlights:

Two drill holes totalling 303 metres were drilled. The first drill hole intersected low grade gold mineralisation in bedrock of 0.5 metre at 0.24 g/t Au from 34.5m down hole. The second hole intersected what might be the same zone, at 109m down hole which had 2.0 metres of 0.13 g/t Au. Though the intersections are low grade they confirm the presence of a gold mineralisation system in Target 4 area. The lithology of the drill core comprised arenaceous turbidite sediments, similar to that seen at the Company’s Clontibret deposit.

The Slieve Glah gold target consists of a series of extensive gold-in-soil targets. This drilling programme focused on Target 4 in the north east of the Slieve Glah licence area. Target 4 is substantial in size, covering an area 2km long and 1km wide.

Previous drilling by the Company has identified gold-in-bedrock in Target 2, which is over 3.5km from this new gold intersection.

At Slieve Glah the Orlock bridge fault, one of the main controlling features of gold mineralisation in the Longford-Down Massif, undergoes a significant strike-swing. Such strike swings can act as focal points for mineralisation. 

Slieve Glah is located at the south western end of the 65 km (40mile) gold trend discovered by the Company and is regarded as a very large and promising gold area within the Company’s overall 700km2 licence area.

This release has been approved by Kevin McNulty PGeo, who is a member of the Company's technical staff and holds a BSc/MSc in Geology and Remote Sensing, in accordance with the guidance note for Mining, Oil & Gas Companies issued by the London Stock Exchange in respect of AIM Companies, which outlines standards of disclosure for mineral projects.

Professor Richard Conroy, Chairman, commented: 

“It is encouraging that the drilling intersected gold in bedrock in Target 4 as this confirms the presence of a gold mineralisation system 3.5km from a previous gold mineralised drill hole. Once again this confirms the sheer size of the Slieve Glah target area and the potential of the overall licence area.”

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Visit the website at: www.conroygold.com