Conroy Gld&nres Regulatory News (CGNR)

Conroy Gold & Natural Resources Plc - Step Out Drilling at Clay Lake Gold Target

PR Newswire

London, February 7

8 February 2022

Conroy Gold and Natural Resources plc

(“Conroy Gold” or the “Company”)

STEP OUT DRILLING AT CLAY LAKE GOLD TARGET

Conroy Gold and Natural Resources PLC (AIM: CGNR), the gold exploration and development company focused on Ireland and Finland, is pleased to announce details of a step out drilling programme on the Derryhennet section of its Clay Lake gold target, in the gold trend which it has discovered in the Longford-Down Massif in Northern Ireland. The programme is being carried out in association with the Company’s joint venture partner, Demir Export A.?.

The Clay Lake gold target in County Armagh is one of a series of targets discovered by the Company along the 65 km (45 Mile) gold trend. A JORC resource of 517,000oz/Au has been estimated on a small part of the Clontibret gold deposit in County Monaghan (previously announced by the Company on 28 July 2017).

The step out drilling programme at the Clay Lake gold target forms part of an overall assessment of the gold and base metal potential of the joint venture area. Eight holes on the Derryhennet section of the Clay Lake gold target, totalling approximately 2,000m, are planned initially. Drilling is also planned in due course on other targets along the gold trend.

The overall Clay Lake gold target forms a single large gold-in-soil anomaly, over 200 Ha (c.500 acres) in area and is nearly 3km in length, which in places is 2km wide (as previously announced by the Company on 28 January 2016). This is a much larger gold-in-soil footprint than at the Clontibret gold target. The drilling programme at Clay Lake will step out from the known gold mineralisation, where previous trenching and drilling has yielded trenching results of up to 5m at 3.0g/t gold and, drilling, a continuous gold intersection of 100m at 0.6g/t gold (including 11.8m at 1.4g/t Au).

Professor Richard Conroy, Chairman, commented: 

“I am delighted to see drilling at the Clay Lake gold target. The initial drilling programme at Clay Lake forms part of the overall assessment of the gold trend which the Company has discovered. We are, of course, looking at an entire new gold district which contains many gold targets along the trend, including the Clontibret gold deposit, where results have been excellent including the recent drilling that demonstrated the continuity between that deposit and the Corcaskea gold target.

I would also like to refer interested parties to the Company website where there is a map showing the location of the trend and the areas that have been identified, giving a picture of its potential and the work being undertaken.”

For further information please contact:

Visit the website at: www.conroygold.com