Connemara Mining Company plc Exploration Update (3628W)

TIDMCON

RNS Number : 3628W

Connemara Mining Company plc

08 February 2017

8(th) February 2017

Connemara Mining Company plc ("Connemara" or "the Company")

Exploration Update

The directors of Connemara Mining (AIM: CON) are pleased to provide an update on exploration activities at our Oldcastle and Donegal concessions.

Oldcastle

Trace mineralisation has been intersected in the latest drill hole within the Oldcastle Block located on the Meath/Cavan border. The Oldcastle block of five licences is being explored by Teck Ireland Ltd (Teck) under an option agreement with Connemara, where Teck have now earned into a 65% holding in the block. Results from TC-1991-003 include 0.3% zinc and 0.09% lead at 725-726m (1m), from the Top Micrites of the Navan Group. The drill hole helps in establishing the regional model and in targeting directions for future drilling. Teck continues to advance the Oldcastle ground as part of their North Midlands zinc exploration programme where the target is a Navan style zinc/lead orebody.

Inishowen

Following the successful drilling results at Inishowen last year the team shifted its focus 8 km north to the historic lead, silver mine at Glentogher to establish a connection, if any, to the gold mineralisation. The first level was cleaned out and made safe before sampling. Work was restricted due to hazardous ground. The results confirmed the presence of lead, zinc and silver within a 2m wide bed but no gold values were obtained. The results help in revising the regional and local structural model before the next drilling campaign. It is believed the gold veins have been affected by deformation and faulting which must be understood before further drilling takes place.

John Teeling, Chairman, commented "We are making progress on both active exploration programmes.

The Oldcastle project, being funded by Teck, is grass a roots exploration programme. We are searching for a world-class system -with the Tara Mines style zinc orebody being the analogue. We have evidence for favourable stratigraphy, structures, alteration and trace mineralization in an area that is 20 miles from Navan. The latest drill hole has traces of lead and zinc, as do the two previous holes in the area. The results are being built into a developing model of the area to improve targeting criteria for potential future drilling.

The gold discovery in Donegal is later stage. We have found gold bearing veins and good width and grades in one of them. We took a leap of faith, 8 km away to an old lead/silver mine where the geology looked the same as that which we drilled. It was expensive to clean out the old workings but still proved dangerous to sample. We found lead/zinc and silver grades but no gold. We will now look at a programme to follow the high grade vein over a shorter distance."

Connemara is a diversified exploration company with principal assets in gold, zinc and lead exploration licences in Ireland. The Company holds interests in 40 licences covering an area of approximately 1, 350 sq km.

This announcement has been reviewed and approved by Gavin Berkenheger (CGeol) in his capacity as the Qualified Person for the purposes of the AIM Guidance Note for Mining, Oil and Gas Companies issued by the London Stock Exchange.

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

Enquiries:

 
 Connemara Mining Company 
  Plc 
 John Teeling, Chairman          [phone] 
 Jim Finn, Director 
 Gavin Berkenheger,              [phone] 
  Director                        5632 
 Northland Capital Partners 
  Limited 
 William Vandyk/Gerry            [phone] 
  Beaney                          6625 
 John Howes 
 Dowgate Capital Stockbrokers 
  Limited 
                                 [phone] 
 Jason Robertson                  7744 
                                 [phone] 
 Blytheweigh                      3204 
                                 [phone] 
 Tim Blythe                       4626 
                                 [phone] 
 Camilla Horsfall                 1793 
                                 [phone] 
 Nick Elwes                       1855 
 Rachael Brooks 
 PSG Plus 
 Colm Heatley                    [phone] 
 Alan Tyrrell                    [phone] 
 

www.connemaramining.com

This information is provided by RNS

The company news service from the London Stock Exchange

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February 08, 2017 08:05 ET (13:05 GMT)