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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Connemara | LSE:CON | London | Ordinary Share | IE00B2357X72 | ORD EUR0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.15 | 1.10 | 1.20 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMCON
RNS Number : 0775B
Connemara Mining Company plc
31 March 2017
31(st) March 2017
Connemara Mining Company plc ("Connemara")
Five New Lead/Zinc Properties in the Irish Midlands
Connemara Mining is pleased to announce the acquisition of five new prospecting licences in County Laois, in the Irish Midlands. The properties lie along the 'Rathdowney Trend' north east of the former Galmoy and Lisheen zinc-lead mines and include the Tonduff and Derrykearn lead-zinc orebodies. Connemara believes a fresh look may reveal new ore zones along one of Ireland's most significant lead zinc trends.
Derrykearn Discovery
Discovered in 1977 by Athlone Prospecting and Development who intersected 2m of 3% pyrite with 0.2% zinc. In 1984 Ennex discovered more intense and extensive sulphide mineralisation in the form of massive and disseminated "pseudo" breccia hosted pyrite/sphalerite/galena at shallow depths (20 - 50m). The best intersection was Hole 1650-11 with 5.95m grading 13.3% zinc / 3.2% lead. Follow up work by Ennex and Ivernia West extended the mineralisation but concluded at that time that it was sub-economic.
Tonduff Discovery
Discovered by Chevron Mining in 1987. It consists of disseminated and fractured sulphides hosted by Black Matrix Breccias, within the Waulsortian Reef. It is a low-grade deposit and could be modelled as being on the edge of a larger zinc-lead mineralising system. Hole 1989-91 had a number of thin intervals c.0.25m thick grading between 1.5 - 2.0% zinc / 0.3% lead.
John Teeling, chairman, commented "This is good ground in a good trend at a good time for zinc. In the 25 years since these licences were explored exploration technology has improved as has our understanding of the Irish zinc province. There is potential.
Zinc is in short supply at present, reflected in a doubled price per ton in the past year. At a price of $2,500 a ton, a zinc discovery would be very valuable."
Connemara is a diversified exploration company with principal assets in gold, zinc and lead exploration licences in Ireland. The Company holds interests in 35 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 (EU) 596/2014.
Enquiries:
Connemara Mining Company Plc John Teeling, Chairman +353 (0) 1 833 2833 Jim Finn, Director Gavin Berkenheger, +44 (0) 784 145 Director 5632 Northland Capital Partners Limited Matthew Johnson / Gerry +44 (0) 203 861 Beaney 6625 John Howes Dowgate Capital Stockbrokers Limited +44 (0) 129 351 Jason Robertson 7744 +44 (0) 207 138 Blytheweigh 3204 +44 (0) 781 692 Tim Blythe 4626 +44 (0) 781 784 Camilla Horsfall 1793 +44 (0) 783 185 Nick Elwes 1855 +44 (0) 207 138 Kristina Kazerani 3206 Rachael Brooks PSG Plus Ciaran Flynn +353 (0) 1 661 4055 Alan Tyrrell +353 (0) 1 661 4055
www.connemaramining.com
This information is provided by RNS
The company news service from the London Stock Exchange
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March 31, 2017 02:00 ET (06:00 GMT)
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