Discovery of High Zinc Levels
18/07/2013 07:00
18 July 2013
Conroy Gold and Natural Resources plc
("Conroy" or "the Company")
DISCOVERY OF HIGH ZINC LEVELS WITHIN CONROY GOLD LICENCE AREA
* Zinc values up to 30 per cent. seen in grab samples
* Elevated copper values of 0.125 and 0.216 per cent also encountered
Conroy Gold and Natural Resources plc (AIM: CGNR, ESM: CGNR.I), the exploration
and mine development company which has discovered a thirty mile gold district
in Ireland running across Counties Armagh, Monaghan and Cavan and is planning
to develop its first operational gold mine at Clontibret in County Monaghan, is
pleased to announce that an ongoing evaluation of old lead workings within the
Company's licence area has yielded highly positive zinc results of up to 30 per
cent.
Grab samples were taken from twelve of the old lead workings spoil heaps in the
Company's licence area. Most of these samples gave high lead values as might be
expected although a lead value of 7.31 per cent. at the Tassan workings in
County Monaghan was particularly high.
However, two samples from the Cornaurney workings in County Cavan gave
exceptionally high zinc levels of 30.00 and 18.40 per cent. respectively. These
samples also had elevated copper of 0.125 and 0.216 per cent., silver of 9.2
and 3.8 ppm, antimony of 101 and 49 ppm as well as mercury at 27ppm and 14ppm,
gallium of 200ppm and 100ppm and cadmium of 2000 ppm and 688ppm.
As well as its gold discoveries the Company has discovered an extensive
zinc-in-soil anomaly on its prospecting licences in Counties Monaghan and
Armagh. The very high zinc levels detected in the old mine working spoil heaps
in County Cavan add to the overall metalliferous potential of the licence area
for both gold and base metals.
The original gold discovery at Clontibret where the Company is proposing to
develop a gold mine was made in old workings for antimony. Antimony is known
also to be associated with silver, lead and copper deposits.
This release has been approved by Kevin McNulty PGeo, who is a member of the
Company's technical staff, who holds a BSc/MSc in Geology and Remote Sensing,
in accordance with the guidance note for Mining, Oil & Gas Companies issued by
the London Stock Exchange in respect of AIM Companies, which outlines standards
of disclosure for mineral projects.
Professor Richard Conroy, Chairmancommented:
"The very high zincresultsaremost interesting and the presence of copper
addsstill further to the potential of thisdistrict not only for gold but for
base metals."
For further information please contact:
Conroy Gold and Natural Resources plc Tel: +353-1-661-8958
Professor Richard Conroy, Chairman
Sanlam Securities UK Limited (Nomad) Tel:
+44-20-7628-2200
Simon Clements/Virginia Bull
Hybridan LLP (Joint Broker) Tel:
+44-20-7947-4350
William Lynne/Deepak Reddy
Shore Capital Stockbrokers Limited (Joint Broker) Tel:
+44-20-7408-4050
Jerry Keen/Bidhi Bhoma/Toby Gibbs
IBI Corporate Finance Limited (ESM Adviser) Tel:
+353-766-234-800
Brian Farrell
Lothbury Financial Services Tel:
+44-20-7868-2010
Michael Padley/Michael Spriggs
Hall Communications Tel: +353-1-660-9377
Don Hall
Visit the website at: www.conroygoldandnaturalresources.com
END