Conroy Gold upbeat on review findings at Clontibret Gold Deposit

Ireland and Finland-focussed gold exploration and development company Conroy Gold and Natural Resources announced the results of an independent review of the structural controls on the Clontibret Gold Deposit in County Monaghan, Ireland, by consultant structural geologist Dr Francis Murphy on Thursday.

The AIM-traded firm said structural controls for higher gold grades and thicker gold intersections in the Clontibret deposit had been identified, with a gold mineralising fault recognised in the adjacent Corcaskea area.

It said the structural review had identified the factors controlling the higher gold grades and thicker gold intersections along the gold lodes in the Clontibret deposit, explaining that the information would be “particularly valuable” in targeting higher gold grades and thicker gold intersections in future drilling programmes.

The company said the study also yielded “valuable information” in relation to the adjacent Corcaskea area, where high gold grades had been observed.

In particular, it explained that that a mineralising fault - the Corcaskea Fault - represented a “major control” on the Corcaskea gold mineralisation, including the newly-discovered gold outcrop.

That, the board added, could “significantly increase” the gold prospectivity of the Corcaskea area.

The study reviewed the geological data and structural controls for the Clontibret Gold Deposit, and included assessing the lode geometry, the plunge component to the gold mineralisation and its controls in regard to fold axial traces and their relationship to mineralisation, and to assess lithological contacts and competency contrasts in regard to gold mineralisation.

Conroy Gold said the factors identified in relation to high gold grades and wide gold intersections included faulting and fracturing on dip and strike inflections along the gold lodes, and linkage zones between adjacent gold lodes in the Clontibret gold deposit, together with 50-70m half wavelength anticline and syncline fold axis.

The study also emphasised the relationship of the gold lodes in the Clontibret Gold Deposit and Corcaskea area to the Orlock Bridge Fault Zone.

It said that fault zone was a “major” geological structure, which was considered to be a significant factor in controlling fluid, or gold, migration along the entire 65km gold trend in the Longford–Down Massif in Ireland, that the company had discovered.

“The identification of the factors relating to higher gold grades and wider gold intersections for the Clontibret Gold Deposit is a very positive step forward,” said Conroy Gold and Natural Resources chairman Richard Conroy.

“The implications of the study for the gold prospectivity of the Corcaskea Area are also highly encouraging.”