Conroy Gold & Natural Resources Plc High Value Zinc Results from Infill Sampling Programme

 
TIDMCGNR 
 
30 March 2021 
 
                     Conroy Gold and Natural Resources plc 
 
                       ("Conroy Gold" or "the Company") 
 
HIGH VALUE ZINC RESULTS FROM INFILL SAMPLING PROGRAMME IN LONGFORD-DOWN MASSIF 
 
  * Values recorded up to 3,700ppm zinc 
 
  * 10 samples greater than 1,000ppm zinc 
 
  * High value Zinc-in-Soil anomaly extends over an area of c.0.8 km by c.0.9 
    km 
 
  * Underlying geology associated with sedimentary hosted Lead-Zinc style 
    deposits worldwide 
 
Conroy Gold and Natural Resources plc (AIM: CGNR), the exploration and 
development company focused on Ireland and Finland, is pleased to announce 
results from an infill zinc-in-soil sampling programme on the northern 
(Aughnagurgan) section of the extensive (20km2) zinc zone which the Company has 
discovered in the Longford-Down Massif in Ireland (originally announced by the 
Company on 4th June 2009). 
 
Twenty-three of the sixty-five samples collected recorded values greater than 
500ppm zinc over an area of c.0.8 km by c.0.9 km (68.7 Ha) at Aughnagurgan. Ten 
of the samples were reported as being greater than 1,000ppm zinc, with the 
overall range being from 74ppm to 3,700ppm zinc. 
 
The results also indicated the presence of a range of associated elements 
including; lead, cadmium, manganese and nickel. 
 
The zinc zone in the Longford-Down Massif lies to the south of the new district 
scale gold trend which the Company has discovered in the Massif and where, at 
Clontibret, the Company proposes to develop its first gold mine. 
 
The Longford-Down Massif has an established history of base metal mining 
including the Antimony mines at Clontibret, where gold was first discovered, 
and a series of shallow lead and zinc mines which were worked in the nineteenth 
century forming what was known as the Armagh - Monaghan mining district. 
 
The Tullynawood and Aughnagurgan mines in the area, which were worked for lead, 
were situated within c.1 km of the Aughnagurgan zinc target. Historical records 
report the trend of the lead veins worked from these mines, and if projected, 
they would appear to coalesce in the area of the Aughnagurgan zinc target, 
providing further evidence of the possible presence of base metal 
mineralisation. 
 
The underlying geology at Aughnagurgan (the Avaghon formation) consists of fine 
to coarse grained greywacke sandstone with minor black shales, volcanic 
horizons and calcareous silty turbidites. 
 
Black shales and calcareous turbidites are associated with clastic-dominated 
lead-zinc ore deposits around the world and in particular a subtype known as 
sedimentary hosted Lead-Zinc deposits. 
 
A follow-up drilling programme to test the target is planned. 
 
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 primary focus remains on the district scale gold trend which it 
has discovered in the Longford-Down Massif within its 800km2 licence area and 
on bringing in a mine at the Clontibret deposit where we have already an 
existing JORC compliant gold resource of 517,000 ounces. 
 
I am particularly pleased at these highly encouraging results from the 
Aughnagurgan zinc target. Management has a track record of successful 
involvement in base metals in Ireland, its discovery and development of the 
Galmoy zinc orebodies leading to the revival of the Irish base metals industry 
and the recognition of Ireland as a world class zinc province. 
 
The Longford - Down Massif is enriched with base metals, as well as gold, and 
has a significant history of mining for base metals, including Zinc, Lead, 
Copper and Antimony which demonstrate the size and extent of the metalliferous 
system in the Massif and its mining potential for both gold and base metals. 
 
We have recently signed a letter of intent with Demir Export A.S. for a 
proposed joint venture on an earn-in basis over the twelve licences held by 
Conroy Gold in the Longford-Down Massif. Demir Export is a long established 
mining company with interests in iron, coal, gold and base metals, including 
zinc and copper, in Turkey. 
 
Demir Export has the mining expertise and the financial resources not only to 
bring the Clontibret gold deposit to construction ready status and into 
operation as a mine, but also to advance the significant gold potential of the 
other licences along the gold trend to the same status and also the base metal 
potential of the Massif." 
 
 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 
 
Brandon Hill Capital Limited (Joint Broker)          Tel: [phone] 
 
Jonathan Evans 
 
                                                     Tel: [phone] 
First Equity Limited (Joint Broker) 
Jason Robertson 
 
                                                     Tel: [phone] 
Lothbury Financial Services 
 
Michael Padley 
 
Hall Communications                                  Tel: [phone] 
 
Don Hall 
 
Visit the website at: www.conroygold.com 
 
 
 
END 
 
 

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March 30, 2021 02:00 ET (06:00 GMT)