Conroy Gold & Natural Resources Plc Targeting 5 million oz of gold at Clay Lake - Clontibret

 
TIDMCGNR 
 
31 March 2016 
 
                     Conroy Gold and Natural Resources plc 
 
                          ("Conroy" or "the Company") 
 
           TARGETING 5 MILLION OZ OF GOLD AT CLAY LAKE - CLONTIBRET 
 
  * Clay Lake and Clontibret Targets To Be Combined 
  * Clontibret Over 0.6 million Oz Of Gold (JORC Compliant) Previously 
    Established 
  * Clay Lake Gold Anomaly Now Extends Over 200 Hectares (c500 acres) 
  * Exploration Target Of 5 Million Oz Of Gold is Conceptual in Nature 
 
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 a quantitative risk assessment by independent consulting 
geologist, Professor Garth Earls, has established a combined Exploration Target 
of 5 million oz of gold at the Company's adjacent Clay Lake and Clontibret gold 
targets. 
 
A JORC compliant resource of over 0.6 million oz Au, using a minimum mining 
width of 2 metres and a cutoff grade 0.6 g/t Au has already been established on 
20% of the geochemical target at Clontibret. The mineralisation at Clontibret 
remains open along strike, at depth and over the remaining 80% of the 
geochemical target area. 
 
The adjacent Clay Lake geochemical target has recently been shown to be 
approximately 3km in length, up to 2km in width and to have a surface area of 
over 200 hectares (c500 acres). The results of structural studies and wide 
zones of gold mineralisation already reported indicate the potential for high 
tonnage and overall gold content at Clay Lake. 
 
This Exploration Target of 5 million oz of gold is, however, conceptual in 
nature as the combined Clay Lake and Clontibret target requires further 
drilling and there can be no certainty that future resource estimates for the 
project will achieve the Exploration Target. 
 
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: 
 
"The establishment of a combined exploration target of 5 million oz of gold at 
Clay Lake - Clontibret is a major step forward for the Company, at a time when 
the price of gold is also rising again". 
 
For further information, please contact: 
 
Conroy Gold and Natural Resources plc                    Tel: 
                                                         [phone] 
 
Professor Richard Conroy, Chairman 
 
Allenby Capital Limited (Nomad)                          Tel: 
                                                         [phone] 
 
Virginia Bull/Simon Clements 
 
Hybridan LLP (Broker)                                    Tel: [phone] 
                                                         2341 
 
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 
 
 
 
END 
 

(END) Dow Jones Newswires

March 31, 2016 02:00 ET (06:00 GMT)