REG-Conroy Gold & Natural Resources Plc: Drilling Targets Confirmed on Finland Gold Claims

Conroy Gold and Natural ResourcesAnnouncement

09/03/2021 12:25

9 March 2021

Conroy Gold and Natural Resources plc

(“Conroy Gold” or “the Company”)

DRILLING TARGETS CONFIRMED ON FINLAND GOLD CLAIMS
* High resolution ground magnetic survey completed
* Potentially gold bearing structures identified
* Survey delineates multiple prospective magnetic targets for drilling
* Applications to be made over other gold and copper targets identified in
Northern Finland
Conroy Gold and Natural Resources plc (AIM: CGNR), the gold exploration and
development company focused on Ireland and Finland, is pleased to announce the
completion of a detailed high resolution ground magnetic survey which has
identified a series of drilling targets on its gold exploration acreage in the
Sodankylä area of Northern Finland. The Company holds a total of eight gold
exploration licences in Finland.

The high resolution ground magnetic survey data, in combination with multiple
datasets, including geochemistry, aerial photography, digital elevation data
and airborne geophysical data, has delineated a series of prospective drilling
targets.

Previous geochemistry in the Company’s permit area in Sodankylä has been
encouraging with gold-in-soil values, of up to 4,470 Au ppb, and
copper-in-soil values. Gold grains have also been observed in the till. The
presence of the Nattanen granite suite and extensive haematitic alteration
together with regional and local structural controls indicate Iron Oxide
Copper Gold (“IOCG”) prospectivity.

The targets shown by the ground magnetic survey include two highly magnetic
bodies, which are considered to be IOCG targets, together with a series of
targets which are interpreted as being Shear Zone Hosted Gold targets.

The detailed high resolution ground magnetic survey consisted of 33 lines at
100m separation, ranging from 1km to 3km in length, for a total of 49 line
kilometres covering an area c.4.5 km(2).

Finland is a mining friendly country with established mining traditions and
highly prospective geology for gold.  Europe’s largest gold mine - the
4 million Oz Au Kittila gold mine - is situated in Northern Finland where the
Company’s permit area is located. Finland has a favourable business climate,
security of tenure and fiscal framework as well as excellent infrastructure
and technical services readily available.

The Company is reviewing the results of its extensive exploration programme
for gold in Finland which has included the collection and analysis of more
than 2,300 regional samples, with a view to applying for further gold
exploration acreage in Finland.

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: 

“The Company’s gold exploration programme in Finland is an extension of
the Company’s highly successful gold exploration programme in Ireland which
has led to the discovery of a new district scale gold trend on which the
Company is currently finalising a joint venture agreement with the Koç family
owned Demir Export A.S..

The results to date on the Company’s Sodankylä target are highly
encouraging with a series of IOCG and Shear Zone hosted gold targets
highlighted for drilling and the Company is commencing preparations for a
drilling programme over these targets.”

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                                                                                                            
 Brandon Hill Capital Limited (Joint Broker)                                         Tel: +44-20-3463-5000                            
 Jonathan Evans                                                                                                                       
 First Equity Limited (Joint Broker)  Jason Robertson   Lothbury Financial Services  Tel: +44-20-7330-1883    T el: +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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