Conroy Gold posts positive test results from Clontibret

10th Aug 2016 16:57

(ShareCast News) - Ireland and Finland-focused gold exploration and development company Conroy Gold and Natural Resources announced on Wednesday that an independent study by structural consultant Dr Francis Murphy has confirmed the continuity of the gold lodes at the company's Clontibret gold target.The AIM-traded firm said the structural study was carried out on the stream bedrock in Clontibret.Eight gold lodes were identified in the stream bedrock, which all corresponded to gold lodes previously identified by the drilling programme.The confirmation of continuity in the gold lodes, taken in conjunction with drilling results and channel sampling results from the old antimony mine workings at Clontibret, enhances the company's understanding of gold mineralisation within the Clontibret gold deposit, Conroy's board said.It added that the demonstration of the continuity of the gold mineralisation at Clontibret is a further essential step forward as the company proceeds with its Clay Lake-Clontibret gold mining project."This new study complements our ongoing drilling programme and proves continuity of the mineralised lodes," said chairman Richard Conroy."It is a further major step forward with our plans for development at our Clay Lake-Clontibret gold project which the company believes has a multi-million oz. target potential."