Conroy Gold reports encouraging results from Slieve Glah

Explorer and developer Conroy Gold reported encouraging assay results from an “extensive deep overburden” geochemical sampling programme at its Slieve Glah Gold Target in Ireland on Thursday.

The AIM-traded company said the sampling programme was conducted in association with its joint venture partner, Demir Export.

It said a total of 1,434 samples were collected over 15 separate areas within the Slieve Glah Gold Target area.

Results showed that 431 samples had values equal to or greater than 10 parts of gold per billion, with 23 samples returning values of 100 parts per billion or higher.

The highest value of 3,460 parts of gold per billion was recorded in a sample taken in the Drumavaddy area, with other high values of 1,425 parts per billion and 1,160 parts per billion being returned in the Corraweelis area.

Conroy said that the Drumavaddy area, where 372 deep overburden geochemical samples were collected, was highly anomalous, with 115 samples recording assay results above 10 parts of gold per billion, and 10 samples returning assay results greater than 100 parts per billion.

The firm defined a highly anomalous target area measuring 300 metres by 150 metres, which would be followed up with trenching and drilling as part of the ongoing programme.

In the Corraweelis target area, where 81 samples were collected, 28 samples recorded assay results above 10 parts of gold per billion, with 14 samples returning assay results greater than 100 parts per billion.

Two samples of 1,160 parts per billion and 1,425 parts per billion, respectively, were recorded, with follow-up trenching and drilling planned for the area.

Additionally, Conroy said several other areas also returned high gold assay results, with the company planning to conduct further follow-up work on those areas as well .

The board said one notable finding was the Leiter area, where high zinc values were returned, with values of 44,500, 16,300 and 8,550 parts of zinc per million recorded.

In addition, the Largari target returned high lead values of 1,045 parts per million.

“The deep overburden sampling programme has proven its value, yielding results which pinpoint additional gold targets for follow up trenching and drilling,” said chairman Richard Conroy.

“The district scale gold area already has a number of gold targets, many of them with gold proven in bedrock but clearly there are many more gold targets still to be identified.”

Conroy noted that there was also potential for base metals.

“However, the main emphasis at this stage will continue to be the development of the first gold mine in the district.”

At 1209 GMT, shares in Conroy Gold and Natural Resources were up 2.86% at 18p.

Reporting by Josh White for Sharecast.com.