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CGNR Conroy Gold & Natural Resources Plc

10.05
-0.20 (-1.95%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Conroy Gold & Natural Resources Plc LSE:CGNR London Ordinary Share IE00BZ4BTZ13 ORD EUR0.001 (CDI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.20 -1.95% 10.05 9.60 10.50 10.25 10.05 10.25 12,023 16:09:13
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Gold Ores 257k -363k -0.0081 -12.41 4.5M

Conroy Gold & Natural Resources Plc Discovery of Gold Target in Longford-Down Massif

29/07/2021 7:00am

UK Regulatory


 
TIDMCGNR 
 
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 
        OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310. 
 
                                                                   29 July 2021 
 
                     Conroy Gold and Natural Resources plc 
 
                       ("Conroy Gold" or "the Company") 
 
        Discovery of Extensive New Gold Target in Longford-Down Massif 
 
                Update on Drilling Programmes on Other Licences 
 
  * High gold-in-soil values 
 
  * Approximately 40 acres in extent (c.700 x c.250 metres) 
 
  * Trend similar to gold lodes in Clontibret Gold Deposit 
 
  * Drilling programme on other licences continues 
 
Conroy Gold and Natural Resources plc (AIM: CGNR), the gold exploration and 
development Company focused on Ireland and Finland, is pleased to announce the 
discovery of a new extensive gold-in-soil anomaly on its licence area in the 
Longford-Down Massif in Ireland, where it has discovered a district scale gold 
trend. 
 
The newly discovered gold-in-soil target lies between the Company's Derryhennet 
gold target, where drilling and trenching have identified significant grades 
and widths of gold-in-bedrock, and the site where the Clay Lake Gold nugget was 
discovered in the 1980s, with a weight of 30.05g and gold content of 28g ( 
http://www.conroygoldandnaturalresources.com/sites/default/files/ 
190613ch027.jpg). 
 
The anomaly covers an area of approximately 40 acres (c.700 metres by c.250 
metres) and trends north northwest - south southeast.  It is aligned on a 
similar trend to the gold lodes in the Clontibret gold deposit where the 
Company has a (JORC 2012) gold resource of 517,000 ounces Au (320,000 oz Au 
indicated and 197,000 oz Au inferred). 
 
The discovery was made during a detailed follow up soil sampling programme, 
totalling over 100 soil samples, to a regional sampling programme which had 
yielded three samples with elevated (above 10ppb Au) gold-in-soil levels, 
(anomalies greater than 10ppb gold-in-soil in the Longford-Down Massif tend to 
be associated with gold-in-bedrock). The follow up sampling programme 
identified a further fifteen samples above 10 ppb Au including one with a very 
high value of 92ppb Au. 
 
The discovery adds further to the series of gold targets in the north-eastern 
area of the Company's licences in the Longford - Down Massif on which an 
exploration target (JORC 2012) of 8.8 Million ounces Au has been estimated 
(announced 2 August 2018), in addition to the already defined JORC compliant 
gold resource of 517,000 ounces Au referred to above. 
 
The Company's drilling programme in the Longford - Down Massif also continues. 
Results are awaited from drilling at Clontibret and Cargalisgorran. Drilling 
has also been completed on licence PL1870 and core samples will shortly be sent 
for analysis. Drilling is in progress on licence PL2683. 
 
This release has been approved by Kevin McNulty PGeo, who is a member of the 
Company's technical staff and 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: 
 
"This discovery highlights the continued potential for new gold discoveries on 
the Company's licences in the district scale gold trend which it has discovered 
in the Longford-Down Massif. The new anomaly is in addition to the series of 
potentially multi million ounce gold targets already discovered by the Company 
along the trend. 
 
I look forward to receiving the results from the ongoing drilling programme on 
the Company's licences and to the proposed joint venture with Demir Export A.S. 
("Demir Export") progressing to final documentation." 
 
For further information please contact: 
 
Conroy Gold and Natural Resources plc                Tel: +353-1-479-6180 
 
Professor Richard Conroy, Chairman 
 
                                                     Tel: +44-20-3328-5656 
Allenby Capital Limited (Nomad) 
 
Nick Athanas/Nick Harriss 
 
 
First Equity Limited                                 Tel: +44-20-7330-1883 
Jason Robertson 
 
Lothbury Financial Services                          Tel: +44-20-3290-0707 
 
Michael Padley 
 
Hall Communications                                  Tel: +353-1-660-9377 
 
Don Hall 
 
Visit the website at: www.conroygold.com 
 
 
 
END 
 
 

(END) Dow Jones Newswires

July 29, 2021 02:00 ET (06:00 GMT)

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