Conroy Gold & Natural Resources Plc - Drilling Underway at Clontibret

4 May 2022

Conroy Gold and Natural Resources plc
(“Conroy Gold” or “the Company”)

DRILLING UNDERWAY AT CLONTIBRET

• Initial eight drill hole, 3,000m, programme

• Drilling targeted to extend both Stockwork and Lode Gold Mineralisation

• Programme designed and agreed with joint venture partner

Conroy Gold and Natural Resources plc (AIM: CGNR), the gold exploration and development company focused on Ireland and Finland, is pleased to announce the commencement of a drilling programme of c.3,000m on its Clontibret gold target in Ireland, in conjunction with its Joint Venture partner, Demir Export A.?. (“Demir Export”). The drilling programme commenced at the end of April in line with the details set out in the announcement made by the Company on 14 March 2022.

The drilling programme is part of the €4.5 million earn-in work programme of the first phase of the joint venture with Demir Export. The objective of the joint venture is to further explore and develop the new district scale gold trend which Conroy Gold has discovered along the Longford-Down Massif in Ireland.

The initial c. 3,000m drill programme, consisting of eight drill holes, is focused on the Clontibret gold target. The programme has the objective of extending the eastern gold Lodes and the Stockwork gold mineralisation, both of which are open in all directions and to depth. Seven of the drill holes are step-out. One hole is targeting an up-dip gold mineralisation zone.

All of the drill holes are planned to intersect the Stockwork. The drilling is projected to increase the Stockwork gold mineralisation to the northeast and also to extend the depth of the Stockwork.

Three of the drill holes are focused primarily on the eastern Lodes of the Clontibret gold resource, with a view to extending these Lodes to the north. The Board believe that these drill holes also have potential for the discovery of new Lodes.

The drilling will step-out from the known gold mineralisation, in both the Stockwork and eastern Lodes in the deposit, which will further enhance the Company’s technical understanding of the Clontibret gold target.

Professor Richard Conroy, Chairman, commented: 

“We are very pleased that this initial 3,000m drill programme has commenced, in conjunction with our joint venture partner Demir Export. It is a further important step toward the development of a gold mine at Clontibret.”

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Visit the website at: www.conroygold.com