Conroy Gold & Natural Resources Plc - Drilling Confirms New Gold-in-Bedrock Discovery

13 September 2023

 

Conroy Gold and Natural Resources plc

("Conroy Gold" or the "Company")

 

 

DRILLING CONFIRMS NEW GOLD-IN-BEDROCK DISCOVERY

 

 

• New gold-in-bedrock discovery at Drumavaddy anomaly in Slieve Glah in County Cavan

 

• Drill results with values of 2.0 g/t gold over 1 metre

 

• Zones of 10 metres of gold mineralisation intersected

 

• Continuity of gold mineralised structure supported by trenching and drilling

 

Conroy Gold and Natural Resources PLC (AIM: CGNR) is pleased to announce that assay results from a scout trench (c.90m) and two scout drill holes (totalling c.500m) at Drumavaddy on the Company's Slieve Glah gold target in County Cavan, indicate a new gold-in-bedrock target at the Southwestern end of the 65km (40 mile) Orlock Bridge gold trend. The drilling and trenching programme is being carried out in conjunction with the Company's joint venture partner, Demir Export A.Ş ("Demir Export").

 

The scout trenching and drill programme was designed to test the Drumavaddy anomaly (announced by the Company on 23 March 2023), where deep overburden sampling identified a highly anomalous gold target measuring 300 metres by 150 metres with values up to 3,460 ppb Au.

 

The trenching encountered a low grade 10 metre gold-in-bedrock zone. A subsequent drill hole intersected this gold zone at depth confirming the continuity of the gold mineralised structure. A second drill hole intersected a separate gold zone of 2.0 g/t gold over 1 metre.

 

Gold mineralisation intersected by trenching and drilling in the Drumavaddy area of the Slieve Glah gold target.

 

Intercepts from the trench included:

 

· 10.0m @ 0.2 g/t Au from 49.0m

· 4.0m @ 0.4 g/t Au from 67.0m

 

(Only intercepts of 0.2 g/t Au or greater are presented)

 

Intercepts from the two scout drill holes included:

 

First drill hole

• 7.0m @ 0.2 g/t Au from 22.0m

 

Second drill hole

• 9.0m @ 0.3 g/t Au (including 0.50m @ 1.0 g/t Au) from 56.0m
• 0.5m @ 0.3 g/t Au from 67.0m
• 0.5m @ 0.3 g/t Au from 88.0m
• 1.0m at 2.0 g/t Au from 159.0m

 

(Only intercepts of 0.3 g/t Au 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: 

 

"It is very exciting to see these gold assay results from drilling and trenching at Slieve Glah, which confirm the prospectivity of this very extensive target area located to the Southwest of the district scale Orlock Bridge gold trend in the Longford - Down Massif."

 

For further information please contact:

 

Conroy Gold and Natural Resources PLC	Tel: +353-1-479-6180
Professor Richard Conroy, Chairman
Allenby Capital Limited (Nomad)	Tel: +44-20-3328-5656
Nick Athanas/Nick Harriss
First Equity Limited (Broker) Jason Robertson   Lothbury Financial Services	Tel: +44-20-7330-1883     Tel: +44-20-3290-0707
Michael Padley
Hall Communications	Tel: +353-1-660-9377
Don Hall

 

Visit the website at: www.conroygold.com