REG-Conroy Gold & Natural Resources Plc: Initial Drill Results From Clontibret

Conroy Gold and Natural ResourcesAnnouncement

01/09/2022 07:15

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION
11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.

1 September 2022

Conroy Gold and Natural Resources plc

(“Conroy Gold” or “the Company”)

INITIAL DRILL RESULTS FROM CLONTIBRET

STEP-OUT DRILLING INTERSECTS NEW ZONES OF GOLD
* Eighteen gold zones intersected in total
* Four new gold zones to the northeast of the Clontibret gold deposit
discovered in Drill Hole 1
* 3.0m @ 8.2 g/t gold identified in Drill Hole 2
* 22.0m @ 0.6 g/t gold intersected in stockwork in Drill Hole 3
Conroy Gold and Natural Resources plc (AIM: CGNR), the gold exploration and
development company focused on Ireland and Finland, is pleased to announce
assay results for the first three drill holes in the c. 3,000m eight-hole
step-out drilling programme on its Clontibret Gold deposit in Ireland.
Eighteen gold zones were intersected, including four new gold zones, and
further continuity to the gold mineralisation in the stockwork was
established. The programme was carried out in conjunction with the Company’s
joint venture partner, Demir Export A.? (“Demir Export”).

Drill Hole 1

This drill hole was located over 200m to the northeast of previous drilling at
the Clontibret gold deposit, demonstrating that the deposit is open along
strike with four new additional gold zones discovered. This drill hole also
confirmed the presence of stockwork gold mineralisation in this area thus also
demonstrating further continuity to the gold mineralisation in the stockwork.

Drill Hole 1 reached a depth of 285.8 metres through an inclined (-50 Degree)
hole.

Drill Hole 1 Intersections:
* 2.0m @ 1.1 g/t Au from 56.0m
* 0.5m @ 1.8 g/t Au from 59.0m
* 0.5m @ 0.5 g/t Au from 112.5m
* 0.5m @ 0.3 g/t Au from 115.5m
* 2.0m @ 0.4 g/t Au from 279.0m
Drill Hole 2

This drill hole intersected eight gold lodes relating to the central lodes of
the ore body thus enabling the extension of these lodes through this area of
historically difficult ground conditions for drilling. The 3.0m @ 8.2 g/t gold
intersection, which suffered poor recovery of only 17 per cent, is interpreted
to represent the zone (5.0m @ 6.1 g/t Au) 270m to the south which was drilled
below the historic antimony workings (announced 26 February 2018).

Drill Hole 2 reached a depth of 179.0 metres through an inclined (-60 Degree)
hole.

Drill Hole 2 Intersections:
* 0.5m @ 0.6 g/t Au from 11.5m
* 1.0m @ 0.6 g/t Au from 32.5m
* 0.5m @ 1.5 g/t Au from 40.0m
* 0.5m @ 0.8 g/t Au from 51.0m
* 1.5m @ 1.3 g/t Au from 97.0m
* 0.5m @ 4.2 g/t Au from 116.5m
* 0.5m @ 2.2 g/t Au from 137.0m
* 3.0m @ 8.2 g/t Au from 143.0m
Drill Hole 3

This drill hole targeted the up-dip zone of the stockwork identified in Drill
Hole 1 and was just over 160m to the southeast of that hole. The targeted
stockwork zone was reached with an intersection of 22 metres at 0.6 g/t Au
and grades of up to 1.35 g/t Au were recorded from within this stockwork zone.
This intersection further demonstrated   the continuity of the gold
mineralisation in the stockwork and was in terms of gram metres was double
that of the closest previous intersection in the stockwork. Four gold lodes
were also intersected in this drill hole.

Drill Hole 3 reached a depth of 188.0 metres through an inclined (-60 Degree)
hole.

Drill Hole 3 Intersections:
* 1.0m @ 1.6 g/t Au from 19.0m
* 1.0m @ 0.5 g/t Au from 44.0m
* 5.5m @ 0.8 g/t Au from 81.5m
* 1.0m @ 0.3 g/t Au from 95.0m
* 22.0m @ 0.6 g/t Au from 135.0m
Drilling is continuing on site with two drill rigs currently in operation with
a third drill rig scheduled to commence.

Further announcements will be made as the drilling programme progresses.

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: 

“I am delighted to see the first results from the initial drilling
programme, in our joint venture with Demir Export. These results have extended
the known stockwork and discovered new gold lodes further enhancing the
potential of the Clontibret target area.”

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    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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