REG-Conroy Gold & Natural Resources Plc: Results from 2 Drill Holes at Clontibret

Conroy Gold and Natural ResourcesAnnouncement

Yesterday 08:45

18 May 2026



 

Conroy Gold and Natural Resources plc

("Conroy Gold" or "the Company")

 

RESULTS FROM TWO DRILL HOLES IDENTIFY SIGNIFICANT

ALTERATION ZONE AT CLONTIBRET                                 
*                        Extensive alteration zone identified in both drill
holes
 
*                        Buddingtonite alteration may indicate proximity to
concealed hydrothermal gold system at depth
 
*                        Headline gold intersections of 3.5 metres at 4.8 g/t
Au (including 0.5 metres @ 11.2 g/t Au and 1.0 metre at 16.7 g/t Au)
 

Conroy Gold and Natural Resources plc (AIM: CGNR) is pleased to announce assay
results for a further two drill holes from the current phase of its drill
programme (CGC-25-002 and CGC-25-003, totalling 566.7m) at its Clontibret gold
deposit in Ireland.

 

These two drill holes were designed to test the northern strike extension of
the central gold lodes associated with the historic Tullybuck antimony mine
going northwards towards a postulated northern fault which may exert an
important control on mineralisation.

 

Both drill holes intersected a significant intensely altered zone interpreted
to represent Buddingtonite alteration, although further confirmatory
analytical work remains ongoing. Buddingtonite is widely recognised as a
potential pathfinder mineral associated with concealed hydrothermal gold
systems and may act as a vector towards additional gold mineralisation at
depth.

 

The drill holes also intersected highly encouraging gold mineralisation across
multiple zones. CGC-25-002 intersected 17 separate gold-bearing zones,
highlighted by an interval of 1.0m at 16.7 g/t Au from 37.1m depth, a
substantial 3.5m at 4.8 g/t Au from 123.5m (including a high-grade
sub-interval of 0.5m at 11.2 g/t Au), and 2.1m at 4.2 g/t Au from 220.1m
(including 0.7m at 9.6 g/t Au). CGC-25-003, drilled approximately 50 metres to
the north at a steeper inclination, intersected six further gold-bearing
zones, confirming the lateral continuity of mineralisation along strike.

 

John Sherman, Chairman, commented:                                           

"These latest drill results continue to demonstrate the significant gold
endowment at Clontibret while also highlighting the growing geological
potential of the wider system.

 

The identification of a substantial alteration zone, interpreted as
Buddingtonite-bearing, is particularly encouraging as this type of alteration
can be associated with major hydrothermal gold systems worldwide.

 

We believe these results provide important new geological insights which may
assist in targeting further mineralisation as exploration advances."


Current Clontibret Drilling Programme

 

The ongoing five hole drilling programme is set out below.                   
  The results of CGC-25-001 were announced by the Company on 2          nd    
      March 2026 showing the deepest gold mineralisation intersected to date
at Clontibret.

 



 

Alteration Zone

 

The alteration zone identified in both drill holes (CGC-25-002 and CGC-25-003)
has a strike orientation similar to the known gold lodes, at approximately 330
degrees azimuth. Hyperspectral core scanning undertaken on samples from the
alteration zone identified a primary Buddingtonite spectral response at
2116nm. Supporting portable XRF and multi-element geochemical analyses
indicate a strong potassium alteration signature characterised by elevated
potassium and rubidium values together with depleted magnesium and calcium.

 

Buddingtonite forms when hot, potassium and ammonium-rich fluids react with
host rock as they migrate upwards through faults and fractures. In gold
systems worldwide, it is commonly developed in the alteration "halo"
surrounding and overlying ore-grade mineralisation, marking the pathway the
gold-bearing fluids travelled. The combined hyperspectral, portable XRF and
geochemical signature observed at Clontibret is characteristic of this
fluid-rock interaction and supports the interpretation that the drill holes
have intersected part of a larger hydrothermal system. The Company believes
the identification of this alteration system may provide an important
vectoring tool for future exploration targeting within the Clontibret gold
system and particularly at depth and towards the northern fault.

 

Further announcements will be made as the drilling programme progresses.

 

 

 

Samples identified for hyperspectral scanning



 



 

Drill results showing intersections of gold mineralisation

 

Drill Hole CGC-25-002

Drill hole CGC-25-002 intersected 17 separate gold zones and extensive
alteration. The hole was drilled to a total depth of 351.1 metres on an
azimuth of 090 degrees at an inclination of -60 degrees.

 

CGC-25-002 Intersections
*                        1.0m @ 16.7 g/t Au from 37.1m                     
*            1.4m @ 0.3 g/t Au from 50.5m          
*                        3.7m @ 1.2 g/t Au from 115.0m                     
*                        3.5m @ 4.8 g/t Au from 123.5m (inc. 0.5m @ 11.2 g.t
Au)                     
*            0.7m @ 0.4 g/t Au from 131.5m          
*            0.7m @ 1.1 g/t Au from 148.0m          
*                        1.5m @ 2.9 g/t Au from 175.0m                     
*            0.8m @ 0.8 g/t Au from 189.2m          
*            1.0m @ 0.5 g/t Au from 198.0m          
*            0.8m @ 2.2 g/t Au from 207.0m          
*                        2.1m @ 4.2 g/t Au from 220.1m (inc. 0.7m @ 9.6 g.t
Au)                     
*            1.2m @ 0.8 g/t Au from 226.0m          
*            0.9m @ 0.5 g/t Au from 229.m          
*                        1.1m @ 2.5 g/t Au from 245.6m                     
*            0.8m @ 0.4 g/t Au from 258.2m          
*            1.5m @ 1.1 g/t Au from 259.5m          
*            0.5m @ 1.5 g/t Au from 342.0m
 

(Only intercepts of 0.3 g/t or greater over 1.0m are presented)

 

All samples were analysed by ALS (OMAC Laboratories), Loughrea, using the
Au-ICP21 method - fire assay (30 g) for gold and aqua regia digest with
ICP-AES finish (0.5 g) for multi-element analysis.

 

Drill Hole CGC-25-003

Drill hole CGC-25-003 was drilled approximately 50 metres north of CGC-25-002
at a steeper inclination (-75 degrees) to a total depth of 215.6 metres.

 

The hole intersected six gold-bearing zones and a continuation of the intense
alteration zone identified in CGC-25-002. Drilling terminated within the
alteration zone due to technical difficulties.

 

CGC-25-003 Intersections

·                     0.5m @ 2.7 g/t Au from 35.0m

·                     0.5m @ 2.1 g/t Au from 45.5m

·                     0.5m @ 2.6 g/t Au from 50.0m

·                     0.5m @ 1.1 g/t Au from 98.0m

·                                          3.0m @ 0.8 g/t Au from 118.0m

·                     1.0m @ 0.7 g/t Au from 192.0m

 

(Only intercepts of 0.3 g/t or greater over 1.0m are presented)

 

All samples were analysed by ALS (OMAC Laboratories), Loughrea, using the
Au-ICP21 method - fire assay (30 g) for gold and aqua regia digest with
ICP-AES finish (0.5 g) for multi-element analysis.

 

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.95km, 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
JORC (2012) 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 occurred within
the licence area.           

 

There are clear geological analogies between the "Discs of Gold" targets and
large gold deposits in Southeastern Australia and Atlantic Canada.

 

Technical Glossary

 

 ALS         Analytical Laboratory Services                                                                                                  
 Au          Gold                                                                                                                            
 Fire Assay  An assay procedure involving heating the sample in a furnace to ensure complete extraction of all the contained precious metal  
 g/t         Grams per metric tonne                                                                                                          
 ICP         Inductively coupled plasma                                                                                                      
 ICP-AES     Inductively coupled plasma atomic emission spectroscopy                                                                         
 nm          Nanometres                                                                                                                      
 XRF         X-ray fluorescence                                                                                                              

 

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                                                                                                           
 Hybridan LLP (Broker)   Claire Louise Noyce      Lothbury Financial Services  Tel:   +44-20-3764-2341       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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