Connemara discovers new high grade mineralization zone

8th Sep 2011 08:48

Connemara Mining's joint venture zinc-lead discovery project with Teck Ireland, based in Limerick, saw its share price leap after it announced a new zone of high grade mineralization. The discovery, at Stonepark West, is likely to be a totally new zone of zinc-lead to add to that at the Stonepark area. There is a significant similarity in the geology between Stonepark West and Stonepark North, which the company believes that zones suggests that the area between them could contain additional zinc-lead zones.Chairman John Teeling said: "These are very positive and significant results. The discovery at Stonepark West appears to be a new zone, typical of Irish zinc orebodies. That in itself is significant, but the results in other holes to the east, between Stonepark North and Stonepark West, and 1.5km to the west, also contain mineralisation. "Meanwhile, at the earlier discovery in Stonepark North, drilling 250m to the north of the recently announced high grade discovery of over 9.90% combined zinc and lead over 8.65 metres found 6.2% combined zinc-lead at 339.8 metres. This is very significant as this discovery is at the same depth as the earlier Stonepark discoveries some 1.7km away from Stonepark North. This also strengthens the possibility of the Stonepark discovery stretching to Stonepark North at a greater depth and could result in there being two zones in the Stonepark North area."He added: "This is a very big system with potential open in most directions. We continue to use four rigs and will have drilled 25,000 metres by year end."The share price was up 18.18% to 13.00p at 09:17.NR