Connemara Mining Company plc Mine River Exploration Update (4689S)

TIDMCON

RNS Number : 4689S

Connemara Mining Company plc

25 June 2018

25(th) June 2018

Connemara Mining Company plc

("Connemara" or the "Company")

Mine River Exploration Update

Connemara Mining Company plc (LON: CON), the Irish gold and zinc exploration company, is pleased to provide an update for their 100% owned Mine River Gold Project ("Mine River"). A total of 614 metres of drilling was undertaken to determine the presence and geometry of mineralised zones at two target areas along a 15km gold trend identified by Connemara geologists in counties Wicklow and Wexford, Ireland.

Highlights:

   --    A new mineralised zone over a 50 metre strike length was identified at Tombreen 

-- Hole 18-TB-03 returned multiple gold (Au) mineralised intercepts including: 4m grading at 1.47g/t Au from 30m, 1m grading at 1.56g/t Au from 78m, 1m grading at 1.23g/t Au from 98m and a combined zone of 14.5m grading at 0.49g/t Au from 25.5m;

   --    Hole 18-TB-04 intercepted 2m grading at 1.99g/t Au from 41m (including 1m at 2.95g/t Au); 

Patrick Cullen, Chief Executive Officer of Connemara, commented: "We have continued from hole 17-TB-01 at Tombreen, announced earlier, which intercepted 8m at 4.53 g/t gold, including 2m grading 16.1 g/t and we have identified a new mineralised zone over a 50m strike length plus a third deeper mineralised zone. We are moving closer to understanding the geometry of these structures.

"The next step is to study the drill core and the gold mineralisation under the microscope and analyse the detailed rock structures. This work will be key to unlocking the mechanisms controlling gold mineralisation at Mine River. This should enable us to better target more high-grade zones."

Further details

Gold at Tombreen is associated with mildly oxidised heavily folded dark shales containing quartz boudins and minor sulphide. The quartz boudins, often described as dark quartz or blue quartz containing significant sulphide at times in the form of pyrite predominantly, do not always contain gold when analysed. The presence of gold in and around the volcanic tuffs 17-TB-01 but not in the same zone when intercepted in 18-TB-03 and 18-TB-04 as well as the occurrence of gold mineralisation in less remarkable dark shales confirms that currently there does not appear to be a clearly defined visual clue as to where the gold is located in the succession. The identification of a nugget in drill core at Tombreen and subsequent lower-grade when analysed indicates that a nugget effect may also be a factor. A review of analysis techniques will follow with the possibility of reanalysis of certain samples using different methods.

Necessary petrology work and a detailed interpretation of the complicated structure observed in the orientated core will ultimately help in understanding the controlling factors in what determines the presence of low and high-grade gold. As the results indicate no definite visual signs of gold in regards to a certain lithology or alteration style, further sampling and potential sampling of whole holes will be required to build up a more accurate picture.

The historic high-grade zone at Knocknalour was not intercepted at the projected strike. Drilling at the historic locations was not possible due to access constraints. The limited drilling was not able to test other potential strike orientations, so the target still remains open for future discoveries. An igneous intrusion, which was historically associated with high-grade gold mineralisation was also not intercepted.

Table A - Tombreen Drill Results

 
 Hole_ID     From (m)   To (m)   Width   Au (g/t)   Notes 
                                  (m) 
 18-TB-03          30       31       1       3.69 
            ---------  -------  ------  ---------  --------- 
 18-TB-03          33       34       1       2.13 
            ---------  -------  ------  ---------  --------- 
 18-TB-03          30       34       4       1.47   combined 
            ---------  -------  ------  ---------  --------- 
 18-TB-03        25.5     49.5      24       0.34   combined 
            ---------  -------  ------  ---------  --------- 
 18-TB-03        25.5       40    14.5       0.49   combined 
            ---------  -------  ------  ---------  --------- 
 18-TB-03          78       79       1       1.56 
            ---------  -------  ------  ---------  --------- 
 18-TB-03          98       99       1       1.23 
            ---------  -------  ------  ---------  --------- 
 18-TB-04          41       42       1       1.02 
            ---------  -------  ------  ---------  --------- 
 18-TB-04          42       43       1       2.95 
            ---------  -------  ------  ---------  --------- 
 18-TB-04          41       43       2       1.99   combined 
            ---------  -------  ------  ---------  --------- 
 

Note: 18-TB-02 abandoned before reaching target depth. Three holes at

Knocknalour returned no significant gold mineralisation

Mine River Project

The Block currently comprises 9 contiguous Prospecting Licences with a total area of approximately 377 km(2) , located in the counties of Wicklow and Wexford located in southeast Ireland. The area was the focus of the Wicklow Gold Rush of 1795 and gold mining continued on a small-scale until the mid-1800s.

The Company has identified a 15 kilometre long target by combining data from geochemical surveys in streams and soils completed across the Block with results from the airborne geophysical survey flown by Hendrick Resources in 2012 (and combined with the Tara Exploration survey of 2000).

Historic drilling and recent drilling by Connemara has proven gold mineralisation in bedrock. An eight metre intersection from 74m grading at 4.53 g/t gold (Au) at Tombreen (17-TB-01) has demonstrated substantial mineralised thickness, which includes 2m from 78m at 16.1 g/t Au. The best reported historical intersection at Tombreen was 50cm grading at 21.28 g/t Au from 70.7m (2558-3). Historic geological data indicates significant strata-bound gold mineralisation is associated with the contacts between Ordovician volcanic rocks and metasedimentary rocks.

This announcement has been reviewed and approved by Gavin Berkenheger (CGeol) in his capacity as the Qualified Person for the purposes of the AIM 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.

Information for Editors:

Connemara is a diversified exploration company with principal assets in gold and zinc exploration licences across Ireland. Connemara currently holds interests in a total of 39 licences, including joint ventures with Teck at the Oldcastle Zinc Project and with Group Eleven Resources Corp at the Stonepark Zinc Project.

Further information can be sourced from the Company website: www.connemaramc.com

ENDS

Enquiries:

 
 Connemara Mining Company Plc 
 John Teeling, Chairman             [phone] 
 Patrick Cullen, CEO                [phone] 
                                    [phone] 
 
 Northland Capital Partners 
  Limited 
 Matthew Johnson / Edward Hutton    [phone] 
 John Howes 
 
 First Equity Limited 
 Jason Robertson                    [phone] 
 
 Blytheweigh                        [phone] 
 Tim Blythe                         [phone] 
 Simon Woods                        [phone] 
 
 Teneo PSG 
 Luke Hogg                          [phone] 
 Alan Tyrrell                       [phone] 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

MSCPGUGPQUPRGUA

(END) Dow Jones Newswires

June 25, 2018 06:23 ET (10:23 GMT)