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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 Drilling Targets Confirmed on Finland Gold Claims

09/03/2021 12:23pm

UK Regulatory


 
TIDMCGNR 
 
9 March 2021 
 
                     Conroy Gold and Natural Resources plc 
 
                       ("Conroy Gold" or "the Company") 
 
               DRILLING TARGETS CONFIRMED ON FINLAND GOLD CLAIMS 
 
  * High resolution ground magnetic survey completed 
 
  * Potentially gold bearing structures identified 
 
  * Survey delineates multiple prospective magnetic targets for drilling 
 
  * Applications to be made over other gold and copper targets identified in 
    Northern Finland 
 
Conroy Gold and Natural Resources plc (AIM: CGNR), the gold exploration and 
development company focused on Ireland and Finland, is pleased to announce the 
completion of a detailed high resolution ground magnetic survey which has 
identified a series of drilling targets on its gold exploration acreage in the 
Sodankylä area of Northern Finland. The Company holds a total of eight gold 
exploration licences in Finland. 
 
The high resolution ground magnetic survey data, in combination with multiple 
datasets, including geochemistry, aerial photography, digital elevation data 
and airborne geophysical data, has delineated a series of prospective drilling 
targets. 
 
Previous geochemistry in the Company's permit area in Sodankylä has been 
encouraging with gold-in-soil values, of up to 4,470 Au ppb, and copper-in-soil 
values. Gold grains have also been observed in the till. The presence of the 
Nattanen granite suite and extensive haematitic alteration together with 
regional and local structural controls indicate Iron Oxide Copper Gold ("IOCG") 
prospectivity. 
 
The targets shown by the ground magnetic survey include two highly magnetic 
bodies, which are considered to be IOCG targets, together with a series of 
targets which are interpreted as being Shear Zone Hosted Gold targets. 
 
The detailed high resolution ground magnetic survey consisted of 33 lines at 
100m separation, ranging from 1km to 3km in length, for a total of 49 line 
kilometres covering an area c.4.5 km2. 
 
Finland is a mining friendly country with established mining traditions and 
highly prospective geology for gold.  Europe's largest gold mine - the 
4 million Oz Au Kittila gold mine - is situated in Northern Finland where the 
Company's permit area is located. Finland has a favourable business climate, 
security of tenure and fiscal framework as well as excellent infrastructure and 
technical services readily available. 
 
The Company is reviewing the results of its extensive exploration programme for 
gold in Finland which has included the collection and analysis of more than 
2,300 regional samples, with a view to applying for further gold exploration 
acreage in Finland. 
 
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: 
 
"The Company's gold exploration programme in Finland is an extension of the 
Company's highly successful gold exploration programme in Ireland which has led 
to the discovery of a new district scale gold trend on which the Company is 
currently finalising a joint venture agreement with the Koç family owned Demir 
Export A.S.. 
 
The results to date on the Company's Sodankylä target are highly encouraging 
with a series of IOCG and Shear Zone hosted gold targets highlighted for 
drilling and the Company is commencing preparations for a drilling programme 
over these targets." 
 
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 
 
Brandon Hill Capital Limited (Joint Broker) 
                                                                Tel: 
                                                   +44-20-3463-5000 
 
Jonathan Evans 
 
 
First Equity Limited (Joint Broker)                  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

March 09, 2021 07:23 ET (12:23 GMT)

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