REG-Conroy Gold & Natural Resources Plc: Gold zones intersected at Clay Lake

Conroy Gold and Natural ResourcesAnnouncement

20/12/2023 07:15

20 December 2023


 

Conroy Gold and Natural Resources PLC

("Conroy Gold" or "the Company")

 

ADDITIONAL WIDE GOLD ZONES INTERSECTED IN STEP OUT DRILL PROGRAMME AT CLAY
LAKE

 
* 80 metres gold zone intersection at 0.5 g/t gold including 9 metres at 1.0
g/t gold
 
* 32 metres gold zone intersection at 0.7 g/t gold with grades up to 3.1 g/t
gold
 

Conroy Gold and Natural Resources PLC (AIM: CGNR) is pleased to announce assay
results from two further drill holes in its step out drill programme on the
Derryhennet section of its Clay Lake gold target in County Armagh, Northern
Ireland. The results included an 80.0 metre gold zone intersection at 0.5 g/t
gold including 9.0 metres at 1.0 g/t gold and a 32.0 metre gold zone
intersection at 0.7 g/t gold with grades up to 3.1 g/t gold. The drilling
programme is being carried out in conjunction with the Company's joint venture
partner, Demir Export A.Ş ("Demir Export").

 

The first drill hole, CGA-22-003, was drilled to a down hole depth of 201.0
metres and intersected 32.0 metres grading 0.7 g/t gold, with grades going up
to 3.1 g/t gold, from a down hole depth of 105.0 metres.

 

The second drill hole, CGA-22-004, was drilled to a down hole depth of 317.5
metres and intersected 80.0 metres at 0.5g/t gold, including 9.0 metres at 1.0
g/t gold, from a depth of 33.0 metres.

 

The drill holes indicate significantly wide and shallow mineralised zones.

 

The 80.0 metre intersection in the second drill hole is c.100m to the
southwest of where the Company intersected 100.0 metres at 0.6 g/t gold, at a
depth of 26.4 metres, which is believed to be the longest continuous gold
intersection in the British Isles. Both drill holes were on the same drill
section line and, together with previous drilling on the Clay Lake gold
target, demonstrate both continuity of the gold stockwork zone and that the
gold mineralisation remains open.

 

The continued intersection of wide zones of gold mineralisation in the very
large Clay Lake gold target extends for 3km in length, and is in many areas
2km in width, and as such indicates its potential for high tonnage and overall
gold content.

 

The Clay Lake gold target is situated in the northern eastern section of the
65km Orlock Bridge gold trend. The Orlock Bridge gold trend is one of two
district scale gold trends, (the other being the Skullmartin gold trend, 10km
to the south) which the Company has discovered in the Longford- Down Massif in
Ireland.  A series of gold targets, including Clay Lake, have been discovered
along both gold trends.

 

Intercepts from the two drill holes (totalling c.518.5m) at the Clay Lake gold
target include:

 

CGA-22-004

· 2.5m @ 0.6 g/t Au from 19.5m

· 80.0m @ 0.5 g/t Au from 33.0m inc. 9.0m @ 1.0 g/t Au from 54.0m

· 2.0m @ 0.6 g/t Au from 189.0m

· 1.0m @ 0.4 g/t Au from 198.0m

 

CGA-22-003
* 1.0m @ 0.5 g/t Au from 46.0m
* 1.0m @ 0.6 g/t Au from 50.0m
* 1.0m @ 0.4 g/t Au from 68.0m
* 1.0m @ 0.5 g/t Au from 73.0m
* 1.0m @ 0.4 g/t Au from 100.0m
* 32.0m @ 0.7 g/t Au inc. 1.0xm @ 3.1 g/t Au from 105.0m
* 1.0m @ 0.4 g/t Au from 162.0m
* 1.0m @ 1.0 g/t Au from 165.0m
 

(Only intercepts of 0.3 g/t or greater are presented)

 

All samples were analysed by ALS (OMAC Laboratories) Loughrea using Au-ICP21
(Au by fire assay and ICP-AES 30g sample).

 

This release has been approved by Kevin McNulty PGeo, who is a member of the
Company's technical staff and holds a BSc/MSc in Geology and Remote Sensing,
in accordance with the guidance note for Mining, Oil & Gas Companies issued by
the London Stock Exchange in respect of AIM Companies, which outlines
standards of disclosure for mineral projects.

 

Professor Richard Conroy, Chairman, commented: 

 

"These excellent results re-affirm the potential of the Clay Lake gold target
for both high tonnage and overall gold content and taken in conjunction with
the sheer size of the target indicate that the Clay Lake gold target could be,
in the Board's view, of world class significance."

 

For further information please contact:

 

 Conroy Gold and Natural Resources plc                                                          Tel: +353-1-479-6180                            
 Professor Richard Conroy, Chairman                                                                                                             
 Allenby Capital Limited (Nomad)                                                                Tel: +44-20-3328-5656                           
 Nick Athanas/Nick Harriss                                                                                                                      
 Peterhouse Capital Limited (Broker) Lucy Williams / Duncan Vasey  Lothbury Financial Services  Tel: +44-20-7469-0930    Tel: +44-20-3290-0707  
 Michael Padley                                                                                                                                 
 Hall Communications                                                                            Tel: +353-1-660-9377                            
 Don Hall                                                                                                                                       

 

 

Visit the website at: www.conroygold.com

 3896572_0.jpeg (https://mb.cision.com/Public/22621/3896572/aa81563c5a0e7b5c_org.jpeg)  



Copyright (c) 2023 PR Newswire Association,LLC. All Rights Reserved