REG-Conroy Gold & Natural Resources Plc: High Value Zinc Results from Infill Sampling Programme

Conroy Gold and Natural ResourcesAnnouncement

30/03/2021 07:05

30 March 2021

Conroy Gold and Natural Resources plc

(“Conroy Gold” or “the Company”)

HIGH VALUE ZINC RESULTS FROM INFILL SAMPLING PROGRAMME IN LONGFORD-DOWN MASSIF
* Values recorded up to 3,700ppm zinc
* 10 samples greater than 1,000ppm zinc
* High value Zinc-in-Soil anomaly extends over an area of c.0.8 km by c.0.9 km
* Underlying geology associated with sedimentary hosted Lead-Zinc style
deposits worldwide
Conroy Gold and Natural Resources plc (AIM: CGNR), the exploration and
development company focused on Ireland and Finland, is pleased to announce
results from an infill zinc-in-soil sampling programme on the northern
(Aughnagurgan) section of the extensive (20km(2)) zinc zone which the Company
has discovered in the Longford-Down Massif in Ireland (originally announced by
the Company on 4(th) June 2009).

Twenty-three of the sixty-five samples collected recorded values greater than
500ppm zinc over an area of c.0.8 km by c.0.9 km (68.7 Ha) at Aughnagurgan.
Ten of the samples were reported as being greater than 1,000ppm zinc, with the
overall range being from 74ppm to 3,700ppm zinc.

The results also indicated the presence of a range of associated elements
including; lead, cadmium, manganese and nickel.

The zinc zone in the Longford-Down Massif lies to the south of the new
district scale gold trend which the Company has discovered in the Massif and
where, at Clontibret, the Company proposes to develop its first gold mine.

The Longford-Down Massif has an established history of base metal mining
including the Antimony mines at Clontibret, where gold was first discovered,
and a series of shallow lead and zinc mines which were worked in the
nineteenth century forming what was known as the Armagh – Monaghan mining
district.

The Tullynawood and Aughnagurgan mines in the area, which were worked for
lead, were situated within c.1 km of the Aughnagurgan zinc target. Historical
records report the trend of the lead veins worked from these mines, and if
projected, they would appear to coalesce in the area of the Aughnagurgan zinc
target, providing further evidence of the possible presence of base metal
mineralisation.

The underlying geology at Aughnagurgan (the Avaghon formation) consists of
fine to coarse grained greywacke sandstone with minor black shales, volcanic
horizons and calcareous silty turbidites.

Black shales and calcareous turbidites are associated with clastic-dominated
lead-zinc ore deposits around the world and in particular a subtype known as
sedimentary hosted Lead-Zinc deposits.

A follow-up drilling programme to test the target is planned.

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 primary focus remains on the district scale gold trend
which it has discovered in the Longford-Down Massif within its 800km2 licence
area and on bringing in a mine at the Clontibret deposit where we have already
an existing JORC compliant gold resource of 517,000 ounces.

I am particularly pleased at these highly encouraging results from the
Aughnagurgan zinc target. Management has a track record of successful
involvement in base metals in Ireland, its discovery and development of the
Galmoy zinc orebodies leading to the revival of the Irish base metals industry
and the recognition of Ireland as a world class zinc province.

The Longford – Down Massif is enriched with base metals, as well as gold,
and has a significant history of mining for base metals, including Zinc, Lead,
Copper and Antimony which demonstrate the size and extent of the metalliferous
system in the Massif and its mining potential for both gold and base metals.

We have recently signed a letter of intent with Demir Export A.S. for a
proposed joint venture on an earn-in basis over the twelve licences held by
Conroy Gold in the Longford-Down Massif. Demir Export is a long established
mining company with interests in iron, coal, gold and base metals, including
zinc and copper, in Turkey.

Demir Export has the mining expertise and the financial resources not only to
bring the Clontibret gold deposit to construction ready status and into
operation as a mine, but also to advance the significant gold potential of the
other licences along the gold trend to the same status and also the base metal
potential of the 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                                                    
 Brandon Hill Capital Limited (Joint Broker)           Tel: +44-20-3463-5000  
 Jonathan Evans                                                               
 First Equity Limited (Joint Broker)  Jason Robertson  Tel: +44-20-7330-1883  
 Lothbury Financial Services                           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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