Conroy Gold & Natural Resources Plc - New Gold Discovery
This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (amendment) (EU Exit) Regulations 2019/310.
22 February 2023
Conroy Gold and Natural Resources plc
(“Conroy Gold” or “the Company”)
NEW GOLD DISCOVERY: NATIVE GOLD: ASSAY RESULTS OF UP TO 123.0 G/T
Discovery of new area of gold mineralisation in Longford - Down Massif
Visible (native) gold
Assay results of up to 123 g/t gold returned in quartz breccia samples
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 area of gold mineralisation in the Longford-Down Massif in Ireland. Visible (native) gold is present. Quartz breccia samples returned assay results of up to 123.0 g/t gold. The exploration programme is being carried out in conjunction with the Company’s joint venture partner, Demir Export A.?.
The discovery was made during prospecting over the Company’s Mines Royal (Newtownhamilton) option area in County Armagh in Northern Ireland. The discovery location is south of the Company’s Mines Royal (Keady) option area, which contains the Company’s Clay Lake gold discovery.
Visible gold was observed at two locations within the new discovery area.
Assay results, from five quartz samples, located on or close to the surface, returned values of 123.0 g/t Au, 76.7 g/t Au, 44.1 g/t Au, 35.2 g/t Au and 12.8 g/t Au, respectively. The assay results of 123.0 g/t Au, 76.7 g/t Au and 44.1 g/t Au are the highest gold assay results returned since the Company began exploration in the Longford–Down Massif. All samples were analysed by ALS (OMAC Laboratories), Loughrea, using 30g fire assay fusion with gravimetric finish (method code Au-GRA21).
A trenching and drilling programme is planned to follow up on the discovery and to enable the Company to better assess and understand the mineralisation in the area.
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 new discovery is potentially a transformational event for gold exploration and development in this very large gold district. The presence of visible gold and the outstanding gold grades of up to 123g/t gold (4oz/t gold) in these initial samples are exceptional and, taken in conjunction with the Company’s other significant discoveries, indicate the potential for the district to become a Tier 1 gold area.“
For further information please contact:
Conroy Gold and Natural Resources PLC
Professor Richard Conroy, Chairman
Nick Athanas/Nick Harriss
Visit the website at: www.conroygold.com