Conroy Gold has discovered gold at two separate drill holes at Slieve Glah, Co. Cavan.
The company, which focuses on gold exploration and development in Ireland and Finland, announced two ‘scout’ holes in Slieve Glah at target area 1 of its exploration property in border region had both intersected gold.
The newly identified gold mineralisation zone measures more than 11 metres and is located close to a drill site where gold was previously discovered and 5.5km from a gold-in-bedrock site intersected last month.
A Conroy Gold spokesperson said: ‘Two “Scout” drill holes, totalling 308 metres, were drilled in Slieve Glah Target Area 1. The first drill hole intersected low grade gold mineralisation in bedrock of 1.0 metre at 0.5 g/t Au from 95.0m down hole and 1.0 metre at 0.3 g/t Au from 87.5m down hole in a zone of 11m @ 0.1 g/t Au from 86m.
‘The second hole intersected 4.0 metres of 0.1 g/t Au from 124.0m down hole.. The discovery of gold in bedrock together with extensive sulphide mineralisation proves the presence of the mineralising system, which the directors believe provides a solid starting point for further exploration.’
The company said information from the recent drillings will help staff to focus on locations where the ‘mineralising system could be higher grade for the [company’s] ongoing work programme.
The Slieve Glah site consist of four extensive gold-in-soil target areas located at the south-western end of the 65km (40mile) gold tend discovered by the Conroy Gold in the Longford-Down massif. Slieve Glah target area 1 encompasses an area 3.5km long by 2.6km wide.
Conroy chairman Richard Conroy said: ‘This new discovery, at a time when the gold price is touching $1,500, is a wonderful result for an early drill hole in this target area and confirms the encouraging results that were observed in the gold-in-soil and deep-overburden sampling and drilling elsewhere on the Slieve Glah Target and the overall potential of the Longford-Down Massif.
‘At the north eastern end of its extensive licence area the Company has an established JORC resource of over 0.5M ounces gold and an estimated exploration target of a further 8.8M ounces gold.’
Source: extra.ie
