Conroy Gold reports positive results from Ireland zinc sampling

Ireland and Finland-focussed exploration and development company Conroy Gold announced results from an infill zinc-in-soil sampling programme on the northern Aughnagurgan section of the 20 square kilometre zinc zone it discovered in the Longford-Down Massif in Ireland on Tuesday.

The AIM-traded firm said 23 of the 65 samples collected recorded values of more than 500 parts of zinc per million over an area of around 0.8 by 0.9 kilometres at Aughnagurgan.

It said 10 of the samples were reported as being greater than 1,000 parts per million, with the overall range being from 74 to 3,700 parts of zinc per million.

The results also indicated the presence of a range of associated elements, including lead, cadmium, manganese and nickel.

Conroy said the zinc zone in the Longford-Down Massif lay to the south of the new district-scale gold trend it discovered in the Massif, and where it was proposing to develop its first gold mine at Clontibret.

The Longford-Down Massif had an established history of base metal mining, including the Antimony mines at Clontibret where gold was first discovered, and a series of shallow lead and zinc mines which were worked in the 19th century, forming the Armagh-Monaghan mining district.

Conroy said the Tullynawood and Aughnagurgan mines in the area, which were worked for lead, were situated within one kilometre of the Aughnagurgan zinc target.

Historical records reported the trend of the lead veins worked from those mines, and if projected, they would appear to coalesce in the area of the Aughnagurgan zinc target, providing further evidence of the possible presence of base metal mineralisation.

The company said the underlying geology at Aughnagurgan, known as the Avaghon formation, consisted of fine-to=coarse grained greywacke sandstone with minor black shales, volcanic horizons and calcareous silty turbidites.

Black shales and calcareous turbidites are associated with clastic-dominated lead-zinc ore deposits around the world, and in particular, a subtype known as sedimentary hosted lead-zinc deposits.

A follow-up drilling programme to test the target was planned.

“The company’s primary focus remains on the district scale gold trend which it has discovered in the Longford-Down Massif within its 800 square kilometre licence area and on bringing in a mine at the Clontibret deposit where we have already an existing JORC compliant gold resource of 517,000 ounces,” said chairman Richard Conroy.

“I am particularly pleased at these highly encouraging results from the Aughnagurgan zinc target.

“Management has a track record of successful involvement in base metals in Ireland, its discovery and development of the Galmoy zinc orebodies leading to the revival of the Irish base metals industry and the recognition of Ireland as a world class zinc province.

“We have recently signed a letter of intent with Demir Export for a proposed joint venture on an earn-in basis over the 12 licences held by Conroy Gold in the Longford-Down Massif.”

At 1148 BST, shares in Conroy Gold and Natural Resources were up 2.24% at 29.65p.