Conroy Gld&nres Regulatory News (CGNR)

4 Apr 2005 07:00

Conroy Diamonds & Gold PLC04 April 2005 CONROY DIAMONDS AND GOLD PLC CONROY IDENTIFIES TEN NEW GOLD TARGETS IN LATEST SAMPLING PROGRAMME • Anomalies Up To 500m Long With Gold Values Ranging Up To 739ppb • All Located Within Area Identified By SRK As Highly Prospective • Contiguous Sampling Now Covers Over 50km2 Of Armagh-Monaghan Gold Belt Ten new gold targets for follow-up work have been identified in the latest phaseof Conroy Diamond and Gold's ongoing regional geochemical soil samplingprogramme. This has more than doubled the number of gold targets on thecompany's exploration licences which cover some 1,500km2 of the Longford-DownMassif in the north of Ireland. All ten new targets lie within a 20km2 area which straddles the Orlock BridgeFault between the known gold occurrences at Tullybuck-Lisglassan and Glenish inthe Armagh-Monaghan Gold Belt. The Orlock Bridge fault is believed to be acontrolling factor on gold mineralisation within the company's licences, whichform a continuous block extending some 110km from Armagh to County Cavan. Significantly, the new targets also lie within one of the three areas identifiedby SRK Consulting in its review of Conroy's gold properties as being highlyprospective. These areas have been targeted because they relate to intersectionsof major deep-seated lineaments and the Orlock Bridge Fault. Such lineaments areof particular importance as economic gold deposits elsewhere in the world areoften found on or near such structures. The latest programme involved the collection and analysis of approximately 1,000soil samples, with individual gold values of up to 739ppb, 434ppb, 267ppb,222ppb and 178ppb reported from separate anomalies. These are very high valueswhen viewed against a background of less than 4ppb and where values over 10ppbgold are considered anomalous. The individual anomalies are extensive, ranging up to 500m in length. An area of more than 50km2 of the Armagh-Monaghan Gold Belt has now been coveredby contiguous geochemical soil sampling under Conroy's regional explorationprogrammes. The company's exploration strategy, endorsed by SRK, is to identifyareas of gold anomalism through such regional sampling and further investigateanomalies through a combination of deep overburden sampling, trenching and/ordrilling. This strategy has led to significant gold discoveries atCargalisgorran in County Armagh and Glenish in County Monaghan. It is anticipated that future field programmes will include follow up work onall 10 new anomalies. Meanwhile, work continues at other locations withinConroy's exploration licences. Further Info: Professor Richard Conroy, Chairman Conroy Diamonds and Gold Plc.Tel: 00-353-1-661-8958 Ron Marshman/John Greenhalgh, City of London PR Limited. Tel: 020-7628-5518Visit website at: www.conroydiamondsandgold.com This information is provided by RNS The company news service from the London Stock Exchange