Connemara Mining Company plc Prospecting Update - Wicklow/Wexford Gold Project (5829B)

TIDMCON

RNS Number : 5829B

Connemara Mining Company plc

11 January 2018

11(th) January 2018

Prospecting Update from Wicklow / Wexford Gold Project

   --   4.53 g/t gold over 8 metres at Tombreen 
   --   The 8 metre intersection at Tombreen includes 2 metres grading at 16.1 g/t gold 

-- Prospecting highlights from surface samples collected at Gibbet Hill include 5 samples with grades in excess of 0.5 g/t gold and as high as 5.08 g/t gold

   --   Assay results from drilling at Tombreen (TB) and Gibbet Hill (GH) include: 
 
             From     To   Width       Au 
 Hole         (m)    (m)     (m)    (g/t) 
----------  -----  -----  ------  ------- 
 17-TB-01    46.5   47.5     1.0     0.32 
----------  -----  -----  ------  ------- 
 17-TB-01    63.0   66.0     3.0     0.17 
----------  -----  -----  ------  ------- 
 17-TB-01    74.0   82.0     8.0     4.53 
----------  -----  -----  ------  ------- 
 17-TB-01    78.0   80.0     2.0    16.10 
----------  -----  -----  ------  ------- 
 17-TB-01    89.0   92.0     3.0     0.59 
----------  -----  -----  ------  ------- 
 17-GH-01    36.0     37     1.0     0.25 
----------  -----  -----  ------  ------- 
 17-GH-01    47.0     48     1.0     0.17 
----------  -----  -----  ------  ------- 
 17-GH-01    60.5   61.5     1.0     0.21 
----------  -----  -----  ------  ------- 
 

Connemara (AIM: CON) is pleased announce results at its 100%-owned Mine River gold project located in Wicklow and Wexford, south east Ireland. Three holes were drilled in December, one at the Tombreen target and two at Gibbet Hill. Assay results confirm 8 metres grading 4.53 g/t gold (Au) at Tombreen, including a 2 metre intersection grading 16.1 g/t Au. Mineralisation ranging from 0.17 g/t Au to 0.25 g/t Au over several intersections was confirmed in one of the holes at Gibbet Hill. In addition, prospecting activities have confirmed significant mineralisation in the area around Gibbet Hill, with surface samples reporting grades as high as 5.08 g/t Au.

John Teeling, Chairman, stated "This is a very strong result from the Tombreen hole. An 8 metre intersection at 4.5 g/t gold would be very satisfactory but 2 metres of 16.1 g/t gold within that is truly exciting. Tombreen is a known gold area but this is better than anything previously reported. The results at Gibbet Hill, 5km to the south are encouraging. We knew the vein system extends through the ground, the good rock samples demonstrate the presence of gold, as does the low gold grades discovered in hole 1. It suggests more drilling to find the veins. We will now focus our work on the Tombreen, Knocknalour, Gibbet Hill area."

The 8m intersection from 74m grading at 4.53 g/t Au at Tombreen (17-TB-01) has demonstrated substantial mineralised thicknesses. The best reported historical intersection at Tombreen was 50cm grading at 21.28 g/t Au from 70.7m (2558-3). The new intersection includes 2m from 78m at 16.1 g/t.

Drilling at Gibbet Hill 5km to the south of Tombreen, demonstrated gold mineralisation in one of the holes. Further surface sampling has provided further data to support significant mineralisation in the target area. Detailed structural mapping was completed while drilling was underway and this data, along with all available geophysical and sampling data is now being reviewed.

Three kilometres to the south east of Tombreen, historic drilling at Knocknalour included six holes with results including: 40cm grading at 19.9g/t Au from 96.0m (2554-2) and 30cm grading at 10.45g/t Au from 88.5m (2554-3). Connemara's geologists suspect some drilling may have terminated within mineralisation and, in light of the significant increase in the thickness of mineralisation confirmed at Tombreen, these results are being reviewed. It is possible that historic core may be available.

The latest results confirm the area between Tombreen, Knocknalour and Gibbet Hill as the focus of the Mine River project. This extends for 5 kilometres at the southern end of the overall trend, which is a 15 kilometre long target confirmed by drilling and identified from geochemical surveys in streams and soils. There is significant strata-bound gold mineralisation broadly associated with the contacts between Ordovician volcanic rocks and metasedimentary rocks following the Caledonian northeast - southwest trend. The mineralisation being targeted by Connemara is associated with a significant geophysical anomaly identified in the airborne geophysical survey flown by Hendrick Resources in 2012 (combined with the Tara Exploration survey of 2000).

Information on Connemara Mining

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 47 licences, including joint ventures with Teck at the Oldcastle Zinc Project and with Group Eleven Resources at the Stonepark Zinc Project. There are active exploration programmes on our Mine River gold project in Wicklow/Wexford as well as at our Inishowen gold project in Donegal.

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.

ENDS

Enquiries:

 
 Connemara Mining Company 
  Plc 
 John Teeling, Chairman        [phone] 
 Jim Finn, Director 
                               [phone] 
                                1748 
                                [phone] 
 Patrick Cullen, CEO            208 
 Northland Capital Partners 
  Limited 
 Matthew Johnson / Gerry       [phone] 
  Beaney                        6625 
 John Howes 
                               [phone] 
 Blytheweigh                    3204 
                               [phone] 
 Nick Elwes                     1855 
                               [phone] 
 Camilla Horsfall               1793 
 Teneo PSG 
 Luke Hogg                     [phone] 
 Alan Tyrrell                  [phone] 
 

www.connemaramc.com

This information is provided by RNS

The company news service from the London Stock Exchange

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January 11, 2018 02:13 ET (07:13 GMT)