Conroy Gold and Natural Resources plc said that initial drill results had intersected 18 gold zones, including four new zones, at the joint venture (JV) Clontibret project in Co Monaghan, Ireland.
STEP-OUT DRILL PROGRAMME
Turkish JV partner and operator Demir Export has completed three of eight planned drill holes for a total 3,000m.
Two drill rigs are in operation and a third is due to start.
Chairman Professor Richard Conroy said that the results to date further enhanced the potential of the Clontibret target area.
DRILL HOLE 1
The JV found four new gold zones in drill hole 1 to the northeast of the Clontibret deposit, and established further continuity to the gold mineralisation in the stockwork.
Drill Hole 1 reached a depth of 285.8 metres
DRILL HOLE 2
The hole drilled to 179m intersected eight gold lodes relating to the central lodes of the ore body.
Conroy Gold said that this enabled extensions of the lodes through an area of historically difficult ground conditions for drilling.
The 3.0m @ 8.2 g/t gold intersection had recovery of only 17%.
DRILL HOLE 3
The drill hole reached 188m targeting the up-dip zone of the stockwork identified in drill hole 1 and was just over 160m to the southeast of that hole.
The JV reached the targeted stockwork zone with an intersection of 22m at 0.6 g/t Au and recorded grades of up to 1.35 g/t Au.
“This intersection further demonstrated the continuity of the gold mineralisation in the stockwork and was in terms of gram metres double that of the closest previous intersection in the stockwork,” added Conroy Gold.
“Four gold lodes were also intersected in this drill hole.”