Conroy Gold and Natural Resources plc, the gold exploration and development Company focused on Ireland and Finland, have published assay results from two ‘Scout’ drill holes and have confirmed that they have identified a new gold zone on Slieve Glah.
Both of the two ‘scout’ drill holes, which totalled 308 metres, found gold deposits. The first drill hole intersected low grade gold mineralisation in bedrock of 1.0 metre at 0.5 grams per tonne from 95m down and 0.3 grams per tonne from 87.5m down.
The second hole intersected 4.0 metres of 0.1 grams per tonne, from 124m down. The discovery of gold in bedrock together with extensive sulphide mineralisation proves the presence of the mineralising system, which the directors believe provides a solid starting point for further exploration.
The new zone of gold mineralisation identified is located over 1.5km from where previous drilling and trenching discovered gold.
Professor Richard Conroy, Chairman, commented: “This new discovery, at a time when the gold price is touching US$1500, is a wonderful result for an early drill hole in this target area and confirms the encouraging results that were observed in the gold-in-soil and deep-overburden sampling and drilling elsewhere on the Slieve Glah Target and the overall potential of the Longford-Down Massif.
“At the north eastern end of its extensive licence area the Company has an established JORC resource of over 0.5M ounces gold and an estimated exploration target of a further 8.8M ounces gold.”