Irish explorer Conroy Gold and Natural Resources has confirmed that initial drilling at a Clontibret gold target area in Co Monaghan has intersected four new gold zones, “further enhancing the potential” of the area.
In a statement to the stock exchange in Dublin on Thursday, the company said that assay results from three drillholes intersected 18 gold zones in total, including four new ones to the northeast of the target. It said that “further continuity to the gold mineralisation in the stockwork was established” in the process.
The drillhole locations and targets were designed by Conroy’s joint venture partner Demir Export, and drilling at the €4.5 million venture began in May.
Conroy Gold, which is planning to develop an operational gold mine on the site, said drilling is continuing with two drill rigs currently in operation, with a third drill scheduled to commence. Further announcements will be made as the drilling programme progresses, the company said.
Company chairman Richard Conroy said: “I am delighted to see the first results from the initial drilling programme in our joint venture with Demir Export. These results have extended the known stockwork and discovered new gold lodes, further enhancing the potential of the Clontibret target area.”
