Conroy Gold and Natural Resources plc said that its joint venture (JV) with Demir Export SA had received two Mines Royal options for gold projects in Ireland and Northern Ireland.
OPTIONS
The Crown Estate awarded the options to Conroy Gold (Armagh) Ltd.
Conroy Gold added that the grant met the final outstanding condition precedent to complete the JV.
Mines Royal C1 (Keady) and Mines Royal C3 (Newtownhamilton) replace the two Mines Royal options held by Conroy Gold in the Longford–Down Massif in Northern Ireland.
Areas covered encompass those previously held, together with, in Mines Royal C1, an additional 20 km2.
The options are on similar terms to those previously held by the company.
JOINT VENTURE
The JV aims to develop a producing gold mine in the Clontibret as well as to take the Northern Ireland licences and the other licences to construction-ready status.
The two companies hold three JVs including Conroy Gold (Armagh) Ltd, Conroy Gold (Clontibret) Ltd and Conroy Gold (Longford Down) Ltd, each holding a licence or group of licences.