Conroy Gold & Natural Resources Plc - Gold zones intersected at Clay Lake

20 December 2023

 

Conroy Gold and Natural Resources PLC

("Conroy Gold" or "the Company")

 

ADDITIONAL WIDE GOLD ZONES INTERSECTED IN STEP OUT DRILL PROGRAMME AT CLAY LAKE

 

• 80 metres gold zone intersection at 0.5 g/t gold including 9 metres at 1.0 g/t gold

 

• 32 metres gold zone intersection at 0.7 g/t gold with grades up to 3.1 g/t gold

 

Conroy Gold and Natural Resources PLC (AIM: CGNR) is pleased to announce assay results from two further drill holes in its step out drill programme on the Derryhennet section of its Clay Lake gold target in County Armagh, Northern Ireland. The results included an 80.0 metre gold zone intersection at 0.5 g/t gold including 9.0 metres at 1.0 g/t gold and a 32.0 metre gold zone intersection at 0.7 g/t gold with grades up to 3.1 g/t gold. The drilling programme is being carried out in conjunction with the Company's joint venture partner, Demir Export A.Ş ("Demir Export").

 

The first drill hole, CGA-22-003, was drilled to a down hole depth of 201.0 metres and intersected 32.0 metres grading 0.7 g/t gold, with grades going up to 3.1 g/t gold, from a down hole depth of 105.0 metres.

 

The second drill hole, CGA-22-004, was drilled to a down hole depth of 317.5 metres and intersected 80.0 metres at 0.5g/t gold, including 9.0 metres at 1.0 g/t gold, from a depth of 33.0 metres.

 

The drill holes indicate significantly wide and shallow mineralised zones.

 

The 80.0 metre intersection in the second drill hole is c.100m to the southwest of where the Company intersected 100.0 metres at 0.6 g/t gold, at a depth of 26.4 metres, which is believed to be the longest continuous gold intersection in the British Isles. Both drill holes were on the same drill section line and, together with previous drilling on the Clay Lake gold target, demonstrate both continuity of the gold stockwork zone and that the gold mineralisation remains open.

 

The continued intersection of wide zones of gold mineralisation in the very large Clay Lake gold target extends for 3km in length, and is in many areas 2km in width, and as such indicates its potential for high tonnage and overall gold content.

 

The Clay Lake gold target is situated in the northern eastern section of the 65km Orlock Bridge gold trend. The Orlock Bridge gold trend is one of two district scale gold trends, (the other being the Skullmartin gold trend, 10km to the south) which the Company has discovered in the Longford- Down Massif in Ireland.  A series of gold targets, including Clay Lake, have been discovered along both gold trends.

 

Intercepts from the two drill holes (totalling c.518.5m) at the Clay Lake gold target include:

 

CGA-22-004

· 2.5m @ 0.6 g/t Au from 19.5m

· 80.0m @ 0.5 g/t Au from 33.0m inc. 9.0m @ 1.0 g/t Au from 54.0m

· 2.0m @ 0.6 g/t Au from 189.0m

· 1.0m @ 0.4 g/t Au from 198.0m

 

CGA-22-003

• 1.0m @ 0.5 g/t Au from 46.0m
• 1.0m @ 0.6 g/t Au from 50.0m
• 1.0m @ 0.4 g/t Au from 68.0m
• 1.0m @ 0.5 g/t Au from 73.0m
• 1.0m @ 0.4 g/t Au from 100.0m
• 32.0m @ 0.7 g/t Au inc. 1.0xm @ 3.1 g/t Au from 105.0m
• 1.0m @ 0.4 g/t Au from 162.0m
• 1.0m @ 1.0 g/t Au from 165.0m

 

(Only intercepts of 0.3 g/t or greater are presented)

 

All samples were analysed by ALS (OMAC Laboratories) Loughrea using Au-ICP21 (Au by fire assay and ICP-AES 30g sample).

 

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: 

 

"These excellent results re-affirm the potential of the Clay Lake gold target for both high tonnage and overall gold content and taken in conjunction with the sheer size of the target indicate that the Clay Lake gold target could be, in the Board's view, of world class significance."

 

For further information please contact:

 

Conroy Gold and Natural Resources plc	Tel: [phone]
Professor Richard Conroy, Chairman
Allenby Capital Limited (Nomad)	Tel: [phone]
Nick Athanas/Nick Harriss
Peterhouse Capital Limited (Broker) Lucy Williams / Duncan Vasey   Lothbury Financial Services	Tel: [phone]      Tel: [phone]
Michael Padley
Hall Communications	Tel: [phone]
Don Hall

 

 

Visit the website at: www.conroygold.com

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