Connemara Mining shares surge on encouraging results from Inishowen

28th May 2015 09:52

Connemara Mining shares rose a whopping 23% on Thursday after the company said that it has received encouraging initial results from the Inishowen gold licences in Donegal in Ireland.Connemara said that quartz vein boulders up to 45cm in diameter containing encouraging grade gold have been found in a one kilometre square area.Prospecting is ongoing over other target areas and it is expected that geophysics and additional sampling will be required to identify potential drill targets, said the company.Chairman John Teeling said: "These are encouraging results, though it must be stressed that this is an early step along a long road."The results support earlier work which identified gold traces in soil samples. We await results from analysing other samples but this outcome indicates the need for a more detailed programme to identify possible drill targets," he added.