Conroy Gold says four new gold zones intersected in Ireland

18th Jul 2016 14:43

(ShareCast News) - Gold mining company Conroy Gold and Natural Resources said four new gold zones were intersected in a drilling programme in Ireland.The AIM listed company said the drilling results, together with previous sampling in the area which had 1.3 metres grading at 9.4 grams per tonne gold, demonstrated the presence of the four new gold zones in a 150 metre-wide structural corridor in the western part of the Glenish gold target in Ireland.The 147 hectare Glenish gold target is a gold-in-soil anomaly located 7.5km southwest of the company's other gold target in Clay Lake, Clontibret where it said it was targetting a potential 5m ounces of gold.The new drilling results were intersections of 2.25 metres grading at 2.65 grams per tonne, at a depth of 18 metres; 2 metres grading at 1.59 grams per tonne at a depth of 27.75 metres; 2.75 metres grading at 1.43 grams per tonne at a depth of 36 metres and 3 metres grading 1.76 grams per tonne at a depth of 64.25 metres.The gold mineralisation in the drilling area was traced down dip for over 70 metres and Conroy Gold said it remained open in all directions.Chairman professor Richard Conroy said: "The newly discovered gold zones significantly upgrade the potential of the Glenish gold target, which is close to our already established Clay Lake-Clontibret gold target, and further enhances the prospectivity of the company's gold licences in Ireland".Shares in Conroy Gold and Natural Resources were down 7.39% to 40.75p at 1509 BST.