Significant gold discovery in Armagh area

Conroy Gold and Natural Resources Plc have announced what they described as the discovery of an ‘extensive new gold target’.

It was found in the Longford-Down Massif and shows high gold-in-soil values on a site of approximately 40 acres.

The company said it is a trend similar to gold lodes in Clontibret Gold Deposit

The gold exploration and development company, focused on Ireland and Finland, said it is pleased to announce “the discovery of a new extensive gold-in-soil anomaly on its licence area in the Longford-Down Massif in Ireland, where it has discovered a district scale gold trend”.

The newly discovered gold-in-soil target lies between the Company’s Derryhennet gold target in south Armagh where drilling and trenching have identified significant grades and widths of gold-in-bedrock, and the site where the Clay Lake Gold nugget was discovered in the 1980s, with a weight of 30.05g and gold content of 28g.

The discovery was made during a detailed follow up soil sampling programme, totalling over 100 soil samples, to a regional sampling programme which had yielded three samples with elevated (above 10 parts per billion Au) gold-in-soil levels, (anomalies greater than 10ppb gold-in-soil in the Longford-Down Massif tend to be associated with gold-in-bedrock).

The follow up sampling programme identified a further 15 samples above 10 ppb Au including one with a very high value of 92ppb Au.

The discovery adds further to the series of gold targets in the north-eastern area of the company’s licences in the Longford–Down Massif on which an exploration target of 8.8 Million ounces of gold has been estimated, in addition to the already defined JORC compliant gold resource of 517,000 ounces Au (gold) referred to above.

The Company’s drilling programme in the Longford–Down Massif also continues. Results are awaited from drilling at Clontibret and Cargalisgorran.

Professor Richard Conroy, Chairman, commented: “This discovery highlights the continued potential for new gold discoveries on the Company’s licences in the district scale gold trend which it has discovered in the Longford-Down Massif. The new anomaly is in addition to the series of potentially multi million ounce gold targets already discovered by the Company along the trend.

“I look forward to receiving the results from the ongoing drilling programme on the Company’s licences and to the proposed joint venture with Demir Export AS (“Demir Export”) progressing to final documentation.”

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