Conroy Gold releases scout drilling assay results

29th Jan 2024 17:18

(Sharecast News) - Conroy Gold released assay results from scout drill holes conducted on four gold targets in its exploration areas on Monday.

The AIM-traded firm said the targets, located in the Orlock Bridge and Skullmartin gold trends, were part of its joint venture with Demir Export.

It said its company's licensed areas in the trends now spanned over 1,000 square kilometres, and were identified through geophysics and geochemical sampling.

In the Orlock Bridge Gold Trend, the Corcaskea Gold Target drilling programme - a part of the larger Clontibret gold target - yielded promising results.

The drill holes, located about 200 metres north of a previous hole, intersected gold mineralisation beyond the existing Clontibret resource area.

That discovery suggested that the Clontibret resource remained open for further exploration in all directions.

However, some mineralised lode structures in the recent drilling had poor core recovery.

Moving to the Corraweelis Gold Target, situated within the Slieve Glah gold target area, two drill holes were completed.

The holes were strategically placed based on highly-anomalous gold values obtained from deep overburden sampling.

Conroy said the results marked the first gold-in-bedrock intersections in the Corraweelis gold target area, extending over 500 metres in length and still open at both ends.

The Dunraymond Gold Target, located within the Glenish target, was explored with two drill holes.

Conroy said the holes tested interpreted structures within a large deep overburden geochemical gold anomaly.

While one of the drill holes intersected a significant fault zone, the other targeted a large dyke.

At the Creenkill Gold Target in the Skullmartin Gold Trend, seven additional scout drill holes were completed, adding to the geological understanding of the area.

Three distinct occurrences of gold mineralisation were identified in Creenkill, including quartz breccia, quartz vein, and fault gouge.

The target was a key component of the newly-identified 24 kilometres Skullmartin gold trend.

Conroy Gold said it completed a total of 2921.4 metres across 14 drill holes in the scout drilling programme.

"I am very pleased that the Joint Venture has enabled the company to carry out an extensive scout drilling programme which has added considerably to our knowledge of the geology and mineralisation of the two district scale gold trends which the company has discovered," said chairman Richard Conroy.

At 1201 GMT, shares in Conroy Gold and Natural Resources were down 2.89% at 13.11p.

Reporting by Josh White for Sharecast.com.