Conroy Gold & Natural Resources Plc Drilling Demonstrates Extension of Clontibret Deposit

 
TIDMCGNR 
 
18 January 2023 
 
                     Conroy Gold and Natural Resources plc 
 
                       ("Conroy Gold" or "the Company") 
 
    STEP-OUT DRILLING DEMONSTRATES EXTENSION OF CLONTIBRET GOLD DEPOSIT TO 
                                  NORTH-EAST 
 
  * Three further drill holes totalling 1,053 metres completed in step-out 
    drilling programme 
 
  * Gold mineralisation in bedrock intersected in all three holes 
 
  * Deposit shown to extend for over 375 metres to the north-east 
 
Conroy Gold and Natural Resources PLC (AIM: CGNR) is pleased to announce that 
assay results from three further drill holes from its step-out drilling 
programme at the Clontibret gold deposit have demonstrated an extension of the 
deposit for over 375 metres to the northeast. The drilling programme was 
carried out in conjunction with the Company's joint venture partner, Demir 
Export A.? ("Demir Export"). 
 
The three drill holes, totalling 1,053.4 metres, were drilled at -60 degrees. 
Gold mineralisation in bedrock was intersected in all three holes, in both the 
stockwork and in lode zones. Stockwork gold mineralisation was intersected over 
375 metres to the north-east from the nearest previously intersected resource 
stockwork gold mineralisation. 
 
Previous drilling had already identified gold mineralisation outside the 
anomalous gold-in-soil footprint at Clontibret which has a surface area of 
c.125 hectares. The current step-out drilling programme has extended the 
bedrock gold mineralisation further outside the surface gold-in-soil footprint. 
The deposit still remains open in all directions and to depth. 
 
The first drill hole was located 270 metres from the previous resource drilling 
(announced by the Company on 6 October 2022) and reached a downhole depth of 
342.0m. The gold mineralisation intersected in the stockwork included 14.0m @ 
0.5 g/t Au. The drill hole also intersected two lode zones with grades of 2.0m 
@ 1.4 g/t Au including 4.4g/t Au over 0.5 metre and 2.0m @ 0.8 g/t Au including 
2.6g/t Au over 0.5 metre. 
 
Drill Hole Intersections: 
 
.            2.0m @ 1.4 g/t Au from 107.0m 
 
Including 0.5m @ 4.4g/t Au from 107.5m 
 
.            2.0m @ 0.8 g/t Au from 112.0m 
 
Including 0.5m @ 2.6 g/t Au from 113.0m 
 
.            14.0m @ 0.5 g/t Au from 291m 
 
Including 6.4m @ 0.8 g/t Au from 294.6m 
 
The second drill hole was located 340 metres from the previous resource 
drilling and reached a down hole depth of 373.1m. 
 
Drill Hole Intersections: 
 
.            0.5m @ 0.7 g/t Au from 39.5m 
 
.            0.4m @ 0.6 g/t Au from 98.6m 
 
.            0.5m @ 1.2 g/t Au from 173.0m 
 
.            3.6m @ 0.4 g/t Au from 287.0m 
 
.            1.0m @ 0.4 g/t Au from 350.0m 
 
The third drill hole was located over 375 metres from the previous resource 
drilling and reached a down hole depth of 338.3m. 
 
Drill Hole Intersections: 
 
.            0.5m @ 0.7 g/t Au from 65.0m 
 
.            2.0m @ 0.4 g/t Au from 174.0m 
 
.            2.0m @ 0.3 g/t Au from 184.0m 
 
(Only intercepts of 0.3 g/t or greater are presented) 
 
In the Clontibret gold deposit the stockwork represents a series of 
crosscutting veins and the lode zones are represented by a series of parallel 
sheet-like higher grade mineralised structures. The lithology of the drill core 
comprised arenaceous turbidite sediments and shales. 
 
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: 
 
"I am delighted at the extension of gold mineralisation in the Clontibret gold 
deposit demonstrated by these three holes in the step out drilling programme. 
The results extend the stockwork gold mineralisation over 375 metres to the 
northeast of the existing area and importantly it remains open in all 
directions and to depth.  Future drilling will look to again extend the area 
and enhance the known resource." 
 
For further information please contact: 
 
Conroy Gold and Natural Resources plc                Tel: [phone] 
 
Professor Richard Conroy, Chairman 
 
                                                     Tel: [phone] 
Allenby Capital Limited (Nomad) 
 
Nick Athanas/Nick Harriss 
 
 
First Equity Limited (Broker)                        Tel: [phone] 
Jason Robertson 
 
Lothbury Financial Services                          Tel: [phone] 
 
Michael Padley 
 
Hall Communications                                  Tel: [phone] 
 
Don Hall 
 
Visit the website at: www.conroygold.com 
 
 
 
END 
 
 

(END) Dow Jones Newswires

January 18, 2023 02:00 ET (07:00 GMT)