REG-Conroy Gold & Natural Resources Plc: Antimony Samples Discovered in Clontibret Area

Conroy Gold and Natural ResourcesAnnouncement

09/05/2025 07:02

9 May 2025


 

Conroy Gold and Natural Resources plc

("Conroy Gold" or "the Company")

 

ANTIMONY FLOAT SAMPLES DISCOVERED IN CLONTIBRET DEPOSIT AREA

 
* Two float boulders recovered from within the Clontibret gold resource
footprint
* Boulders return high gold grades and encouraging pXRF results for antimony 
* Further evidence supporting new second trend of antimony in the Clontibret
gold resource footprint
 

Conroy Gold and Natural Resources PLC (AIM: CGNR) is pleased to announce it
has discovered antimony-bearing float samples from its Clontibret gold deposit
area in County Monaghan, Ireland. These boulders were discovered near a
reported historic antimony trial pit to the northeast of the two historic
antimony mines in the area, being Tullybuck and Lisglassan.

 

During recent work in the Clontibret area, the geological team identified two
float samples of antinomy mineralisation. The samples returned very high gold
grades of 21.9 g/t Au and 11.2 g/t Au and results for antimony were above
detection limits greater than 1% (10,000 ppb).   The samples are with ALS
Laboratory for detailed assaying in relation to antimony ore grade content in
the samples.   Encouraging preliminary analysis has already been obtained
onsite using a portable X-ray Fluorescence (pXRF) instrument, which returned
indicative results in excess of 40 per cent. antimony.

 

This work is part of follow up actions being taken by the Company to
demonstrate the antimony potential of Clontibret and in particular to further
evaluate the second antimony trend identified by the initial results from
remodelling the Clontibret deposit (as announced by the Company on 27th
February 2025).  Work continues on completing the relogging of drill core
from the deposit and the construction of a more robust 3D geological model, in
tandem with follow up exploration activity in relation to antimony.    

 

Mr John Sherman, the Company's Chairman, commented: "The discoveries of
antimony float which show high gold grades further highlight both the antimony
potential of the Clontibret deposit and its correlation to potentially
high-grade gold.  We are looking forward to exploring the potential of the
second antimony trend identified recently to increase the scale of the gold
resource within the existing resource footprint.   The Company also intends
to apply to the European Commission for recognition of Clontibret as a
strategic project under the European Critical Raw Materials Act 2024 on the
basis of the antimony content."

 

Historically, the Clontibret area was known for its small-scale antimony mine
operations, which were active in the 18th and 19th centuries. Channel sampling
of the two historic antimony mines resulted in the first bedrock gold
discovery in Ireland. High antimony grades of 14.5% over 1.2 metres were
previously recorded together with gold values of up to 35.0 g/t gold over 2
metres. 

 

Historical references in a report by Russell 1917 (Report on the Clontibret
Antimony mine, Castleblayney, Co Monaghan) had been made of a trial pit
associated with the area where the float boulders were recovered.   Some
references related to the trial pit included in the Russell report are as
follows:

 

"On the East bank of the stream in the townland of Lisglassan, 55 feet N.E. of
the main shaft, a trial pit has been sunk to a depth of about five feet by the
present proprietors. This reveals a vein bearing approximately 45° E. of N
and underlying about 45° N.W. It has a very well-defined footwall, and fairly
well-defined hanging wall, and carries a rib of excellent stibnite 8 inches
wide."

 

"This same pit reveals another rib of antimony 3 inches wide running parallel
to and under the stream the direction being approximately that of the main
vein as exposed in the north drive from the main shaft. This rib is,
therefore, probably, identical with one of these exposed in the drive, which
has reached a point almost under the pit."

 

The precise location of the trial pit has been lost over time but a recently
uncovered map (Figure 1 below) is believed to show the location of this trial
pit which also fits the description above by Russell.

 


Figure 1: Historical map with assumed location of the historic trial pit
marked.

Map from:   Hallissy T 1914 Explanatory Memoir to Sheet 58, illustrating
parts of the Counties Armagh, Fermanagh and Monaghan. Memoirs of the
geological Survey of Ireland.

Conroy Gold's prospecting work to determine the precise location of the trial
pit led to the discovery of some spectacular examples of stibnite in float.
 The company plans to perform further work focused on uncovering the trial
pit in order to progress the Company's understanding of a new second trend of
antimony previously identified by the Company.   It will also assess the
potential of this second trend to increase the overall gold content within the
resource footprint.

 

Significantly, the large "8 inches wide" vein reported to have been visible in
the trial pit is noted to be at an acute angle "bearing approximately 45° E.
of N and underlying about 45° N.W " to the veins in the main mines.  This
would reinforce the existence of the second trend (Northeast - Southwest
orientation) parallel to the lithology and the stockwork zone shown from the
mineralisation shells created by the pXRF antimony analysis carried out as
part of the re-logging programme.

 


This release has been approved by Kevin McNulty PGeo, who is a member of the
Company's technical staff and 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.

 

About the "Discs of Gold" Project

Conroy Gold's "Discs of Gold" project in Ireland is defined by two parallel
district scale gold trends, extending over c.90km, which are 100 per cent.
held under license by the Company and anchored by the Clontibret gold deposit.
The Clontibret target area contains a currently defined 517Koz gold resource @
2.0 g/t Au (320Koz Au Indicated and 197Koz Au Inferred (2017)) which remains
open in multiple directions. The Company has identified a further seven gold
targets in its license area with the Clay Lake and Creenkill gold targets
being of particular interest. Gold occurs in multiple styles in the Company's
license area, including free gold, refractory gold in arsenopyrite and gold
associated with pyrite and antimony (stibnite), suggesting multiple
hydrothermal events seeded the deposit.  There are clear geological analogies
between the "Discs of Gold" targets and large gold deposits in Southeastern
Australia and Atlantic Canada.

 

For further information please contact:

 Conroy Gold and Natural Resources PLC                                                          Tel: +353-1-479-6180                            
 John Sherman, Chairman Maureen Jones, Managing Director                                                                                        
 Allenby Capital Limited (Nomad)                                                                Tel: +44-20-3328-5656                           
 Nick Athanas / Nick Harriss                                                                                                                    
 Peterhouse Capital Limited (Broker) Lucy Williams / Duncan Vasey  Lothbury Financial Services  Tel: +44-20-7469-0930    Tel: +44-20-3290-0707  
 Michael Padley                                                                                                                                 
 Hall Communications                                                                            Tel: +353-1-660-9377                            
 Don Hall                                                                                                                                       

 

Visit the website at: www.conroygold.com

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