Conroy Gold announces joint venture drilling at Clontibret

14th Mar 2022 11:42

(Sharecast News) - Ireland and Finland-focussed exploration and development company Conroy Gold announced a step-out drilling programme on the Clontibret gold target in Ireland on Monday, in conjunction with joint venture partner Demir Export.

The AIM-traded firm said the programme was part of the joint venture agreement to further explore and to develop the new district-scale gold trend it had discovered along the Longford-Down Massif.

It said the initial programme would consist of eight drill holes totalling around 3,000 metres, and was expected to begin in late April.

The primary objective was to extend both the lode and the stockwork gold mineralisation, with the majority of the drilling focused on the stockwork.

Both the stockwork and lode gold mineralisation were open for extension in all directions, and to depth.

The company said the additional drilling would also add "significantly" to the geological understanding of the whole Clontibret target, and speed the progression towards its development to construction-ready status, bringing it into operation as a gold mine.

"We are very pleased to announce this initial 3,000 metre drill programme in conjunction with our joint venture partner Demir Export," said chairman Richard Conroy.

"It is a further important step towards our objective of the development of a gold mine at Clontibret."

At 1000 GMT, shares in Conroy Gold and Natural Resources were up 0.27% at 22.06p.