Conroy Gold & Natural Resources Plc Enlargement of Clay Lake gold target

 
TIDMCGNR 
 
28 January 2016 
 
                     Conroy Gold and Natural Resources plc 
 
                          ("Conroy" or "the Company") 
 
                     ENLARGEMENT OF CLAY LAKE GOLD TARGET 
 
  * Single Gold Anomaly Is Now Approximately 3km In Length And Up To 2km In 
    Width 
 
  * Surface  Area Of Over 200 Ha (c.500 Acres) 
 
  * Drilling And Trenching Results Suggest Possible Continuity Between The 
    Mineralisation Events At Either End of the Anomaly 
 
Conroy Gold and Natural Resources plc (AIM: CGNR, ESM: CGNR.I), the gold 
exploration and development company focused on Ireland and Finland, is pleased 
to announce that positive results from a gold-in-soil sampling programme have 
shown that the Clay Lake and Cargalisgorran gold targets in Co. Armagh form a 
single large gold-in-soil target anomaly, over 200 Ha (c.500 Acres) in area, 
nearly 3km in length and, in places, 2km wide. 
 
Gold-in-bedrock has already been demonstrated at either end of this enlarged 
gold target. This includes a drilling intersection of 7.5m @ 5.58 g/t Au and 
trenching of 10m @ 2.46g/t Au at the southwest end (Cargalisgorran), and 
drilling of 100m @ 0.56g/t Au including 11.5m @ 1.55g/t Au, and trenching of 5m 
@ 3.02g/t Au in the northeastern end. Between the northeast and southwest 
portions of the anomaly, intersections of low grade gold and black carbonaceous 
stockwork material have been encountered suggesting the possibility of 
continuity between the mineralisation events at either end of the anomaly. 
 
This release has been approved by Kevin McNulty PGeo, who is a member of the 
Company's technical staff who 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: 
 
"This is a positive and exciting step forward and the new information supports 
the potential for the presence of very significant underlying resources at the 
Clay Lake Gold Target." 
 
For further information please contact: 
 
Conroy Gold and Natural Resources plc                    Tel: 
                                                         [phone] 
 
Professor Richard Conroy, Chairman 
 
Sanlam Securities UK Limited (Nomad)                     Tel: 
                                                         [phone] 
 
Virginia Bull/Simon Clements 
 
Hybridan LLP (Broker)                                    Tel: 
                                                         [phone] 
 
Claire Louise Noyce/Niall Pearson/William Lynne 
 
IBI Corporate Finance Limited (ESM Adviser)              Tel: 
                                                         [phone] 
 
Ger Heffernan / Jan Fitzell 
 
Lothbury Financial Services                              Tel: 
                                                         [phone] 
 
Michael Padley 
 
Hall Communications                                      Tel: 
                                                         [phone] 
 
Don Hall 
 
Visit the website at: www.conroygold.com 
 
Editors' Note 
 
At Clontibret (125ha) the Company has established a JORC-compliant economic 
gold resource of over 600,000 ounces on only 20 per cent. of the target area. 
A conventional open pit operation was designed by Tetra Tech as part of a 
Preliminary Economic Assessment (PEA).  Infill drilling has enhanced the 
economics of the project, which show attractive returns even at the current 
gold price, and the presence of potentially commercial amounts of antimony 
further improve the prospects. 
 
Conroy has identified a 50km (30 mile) gold trend in Ireland.  The licences, 
which are 100 per cent. owned by the Company, cover c.400 sq. miles (1000km²) 
and run from County Armagh in Northern Ireland across Counties Monaghan and 
Cavan in the Republic of Ireland. 
 
There are five main gold targets, along with significant base metal anomalies 
that have been discovered. The Company believes there is potentially over 15 - 
20+ million ounces of gold within the licence area. 
 
 
 
END 
 

(END) Dow Jones Newswires

January 28, 2016 02:00 ET (07:00 GMT)