Conroy Gold and Natural Resources plc said it had discovered a new area of gold mineralisation, with visible native gold present, in the Longford-Down Massif in Northern Ireland.
EXPLORATION
The JV made the discovery during prospecting over the company’s Mines Royal (Newtownhamilton) option area in County Armagh.
The discovery lies south of the company’s Mines Royal (Keady) option area, which contains the company’s Clay Lake gold discovery.
Exploration is being conducted with Turkish joint venture partner Demir Export S.A.
RESULTS
Conroy Gold said that visible gold was observed at two locations within the new discovery area.
Assay results from five quartz samples, located on or close to the surface, returned gold values of 123.0 g/t; 76.7 g/t; 44.1 g/t; 35.2 g/t; and 12.8 g/t Au respectively.
The first three results are the highest gold assay results returned since Conroy Gold began exploration in the Massif.
The JV plans a trenching and drilling programme to assess and understand the mineralisation in the area.
TIER-1 POTENTIAL
“This new discovery is potentially a transformational event for gold exploration and development in this very large gold district,” added chairman Professor Richard Conroy.
“The presence of visible gold and the outstanding gold grades of up to 123g/t gold (4oz/t gold) in these initial samples are exceptional and, taken in conjunction with the company’s other significant discoveries, indicate the potential for the district to become a Tier-1 gold area.”
Conroy Gold previously identified a 40-mile gold trend within the Longford–Down Massif and major gold targets including Clontibret and Glenish in County Monaghan, Clay Lake in County Armagh and Slieve Glah in County Cavan.
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