Connemara Mining soars on finding clear target at Inishowen Block

26th Jun 2015 14:36

Shares in diversified exploration company Connemara Mining jumped on Friday on the news it has identified a clear target area for more detailed investigations of the newly acquired Inishowen Block in Ireland following completion of the first stage of the geological analysis.Quartz vein material measuring nearly half a metre wide, with gold values of more than 15 grams per tonne have been traced to a possible nearby source area.Chairman John Teeling said: "This is an exciting time for Connemara, and Irish minerals exploration. The Ulster gold play was unlocked with previous discoveries in Tyrone and Monaghan. We believe that this geology extends from Donegal into central Scotland. It is early days but initial results seem to confirm our working model."The company's follow-up work will include a tightly spaced soil sampling programme to further refine the target, which will be followed by an initial trenching programme and, if justified, a later drilling programme.The share price rocketed 63.64% to 2.25p by 15:07.