Conroy Gold and Natural Resources plc said it had discovered a new extensive gold-in-soil anomaly in the district-scale gold trend in the Longford-Down Massif in Ireland.
The finding comes as the company’s drill programme continues on its licence area and the proposed joint venture with Demir Export A.S. progresses to “final documentation”.
SAMPLING
The new target lies between the company’s Derryhennet gold target, where drilling and trenching have identified significant grades and widths of gold-in-bedrock, and the site where the Clay Lake gold nugget was discovered during the 1980s, with a weight of 30.05g and gold content of 28g.
Conroy Gold added that the anomaly covered some 40 acres (700m by 250m) and trends
north northwest – south southeast.
It is aligned on a similar trend to the gold lodes in the Clontibret gold deposit where the company has a (JORC 2012) gold resource of 517,000 ounces Au (320,000 oz Au indicated and 197,000 oz Au inferred).
The discovery was made during follow-up soil sampling programme, of more than 100 soil samples, to a regional sampling programme which had yielded three samples with elevated (above 10ppb Au) gold-in-soil levels.
The company said that anomalies greater than 10ppb gold-in-soil in the Longford-Down Massif tended to be associated with gold-in-bedrock.
The follow-up sampling programme identified a further 15 samples above 10ppb Au including one with a very high value of 92ppb Au.
DRILLING
Conroy Gold’s drill programme in the Longford-Down Massif also continues with results expected from operations at Clontibret and Cargalisgorran.
Drilling has been completed on licence PL1870 and core samples will shortly be sent for analysis. Drilling is in progress on licence PL2683.
Chairman Professor Richard Conroy said that the discovery highlighted the continued potential for new gold discoveries on the company’s licences.