REG-Conroy Gold & Natural Resources Plc: Drilling Confirms New Gold-in-Bedrock Discovery

Conroy Gold and Natural ResourcesAnnouncement

13/09/2023 07:15

13 September 2023


 

Conroy Gold and Natural Resources plc

("Conroy Gold" or the "Company")

 

 

DRILLING CONFIRMS NEW GOLD-IN-BEDROCK DISCOVERY

 

 
* New gold-in-bedrock discovery at Drumavaddy anomaly in Slieve Glah in County
Cavan
 
* Drill results with values of 2.0 g/t gold over 1 metre
 
* Zones of 10 metres of gold mineralisation intersected
 
* Continuity of gold mineralised structure supported by trenching and drilling
 

Conroy Gold and Natural Resources PLC (AIM: CGNR) is pleased to announce that
assay results from a scout trench (c.90m) and two scout drill holes (totalling
c.500m) at Drumavaddy on the Company's Slieve Glah gold target in County
Cavan, indicate a new gold-in-bedrock target at the Southwestern end of the
65km (40 mile) Orlock Bridge gold trend. The drilling and trenching programme
is being carried out in conjunction with the Company's joint venture partner,
Demir Export A.Ş ("Demir Export").

 

The scout trenching and drill programme was designed to test the Drumavaddy
anomaly (announced by the Company on 23 March 2023), where deep overburden
sampling identified a highly anomalous gold target measuring 300 metres by 150
metres with values up to 3,460 ppb Au.

 

The trenching encountered a low grade 10 metre gold-in-bedrock zone. A
subsequent drill hole intersected this gold zone at depth confirming the
continuity of the gold mineralised structure. A second drill hole intersected
a separate gold zone of 2.0 g/t gold over 1 metre.

 

Gold mineralisation intersected by trenching and drilling in the Drumavaddy
area of the Slieve Glah gold target.

 

Intercepts from the trench included:

 

· 10.0m @ 0.2 g/t Au from 49.0m

· 4.0m @ 0.4 g/t Au from 67.0m

 

(Only intercepts of 0.2 g/t Au or greater are presented)

 

Intercepts from the two scout drill holes included:

 

First drill hole
* 7.0m @ 0.2 g/t Au from 22.0m
 

Second drill hole
* 9.0m @ 0.3 g/t Au (including 0.50m @ 1.0 g/t Au) from 56.0m
* 0.5m @ 0.3 g/t Au from 67.0m
* 0.5m @ 0.3 g/t Au from 88.0m
* 1.0m at 2.0 g/t Au from 159.0m
 

(Only intercepts of 0.3 g/t Au or greater are presented)

 

All samples were analysed by ALS (OMAC Laboratories) Loughrea using Au-ICP21
(Au by fire assay and ICP-AES 30g sample).

 

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.

 

Professor Richard Conroy, Chairman, commented: 

 

"It is very exciting to see these gold assay results from drilling and
trenching at Slieve Glah, which confirm the prospectivity of this very
extensive target area located to the Southwest of the district scale Orlock
Bridge gold trend in the Longford - Down Massif."

 

For further information please contact:

 

 Conroy Gold and Natural Resources PLC                                       Tel: +353-1-479-6180                           
 Professor Richard Conroy, Chairman                                                                                         
 Allenby Capital Limited (Nomad)                                             Tel: +44-20-3328-5656                          
 Nick Athanas/Nick Harriss                                                                                                  
 First Equity Limited (Broker) Jason Robertson  Lothbury Financial Services  Tel: +44-20-7330-1883   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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