REG-Conroy Gold & Natural Resources Plc: Results from drilling at Clontibret gold deposit

Conroy Gold and Natural ResourcesAnnouncement

21/02/2022 07:15

The information contained within this announcement is deemed by the Company to
constitute inside information for the purposes of Regulation 11 of the Market
Abuse (Amendment) (EU Exit) Regulations 2019/310. Upon the publication of this
announcement via a Regulatory Information Service, this inside information is
now considered to be in the public domain.

21 February 2022

Conroy Gold and Natural Resources PLC

(“Conroy Gold” or “the Company”)

Drilling results from due diligence drilling at Clontibret gold deposit
* Demir Export A.S? (“Demir Export”), the Company’s joint venture
partner, drilled two holes in 2021 (TW001 and TW005) as part of its due
diligence programme prior to entering into the Joint Venture Agreement. The
assay data has now been provided to Conroy Gold.
* Drillhole TW001 confirms and upgrades Conroy Gold’s interpretation of the
lode and stockwork mineralisation at Clontibret.
* TW001 encountered the widest gold intercept yet drilled at Clontibret of
94.5m grading 1.0 g/t Au (including 45m grading 1.5 g/t Au) in the stockwork
zone and also intersected lodes which assayed 6m @ 4.4 g/t Au, 2.7m @ 4.5 g/t
Au and 1.55m grading 4.0 g/t Au. 
* Drillhole TW005 tested the stockwork in an undrilled area and confirmed the
potential to expand the existing resource towards the southwest of the
deposit.
Conroy Gold and Natural Resources PLC (AIM: CGNR), the gold exploration and
development company focused on Ireland and Finland, is pleased to announce
results from the two holes that were drilled at the Clontibret gold deposit by
Demir Export A.S?, as part of its due diligence and validation programme,
prior to entering into the Joint Venture Agreement with Conroy Gold.

The drillhole locations and targets were designed by Demir Export and all
technical work was undertaken by a professionally accredited independent
geological consultant.

Drillhole TW001 was designed as validation of a Conroy Gold drillhole and
corroborated not only the known lode mineralisation but also targeted the
deeper stockwork zone mineralisation that had not yet been tested at depth in
this area of the deposit.

TW001 confirmed the zone of lode mineralisation previously drilled by Conroy
Gold and intersected six lodes that are included in the existing resource
model.  Two of the lodes assayed 6.0m @ 4.4 g/t Au and 2.7m @ 4.5 g/t Au,
respectively.

Furthermore, as TW001 was deepened towards the stockwork zone, three further
lodes were encountered (1.55m grading 4.0 g/t Au, 2.55m grading 1.9 g/t Au and
0.95m grading 3.5 g/t Au).

The Board of Conroy Gold believes the new discovery of stockwork
mineralisation in TW001 is of great significance as it represents the widest
gold intersection drilled to date at Clontibret.  The 94.5m wide intercept in
the stockwork zone graded 1.0 g/t Au with a higher-grade intercept of 45.0m
grading 1.5 g/t Au in the centre of the wider zone.  Gold grade is continuous
and relatively uniform throughout these intercepts.

Drillhole TW005 tested the stockwork in an undrilled area and intercepted
19.7m grading 0.3 g/t Au. This confirms the potential to expand the existing
resource towards the southwest of the deposit.

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 due diligence and validation drillholes completed by Demir Export have
confirmed and added to the understanding of the Clontibret gold deposit built
up by Conroy Gold.

The Board believes that the confirmation of the gold grades encountered in the
lode zone and the discovery of the widest gold intercept yet at Clontibret in
the stockwork zone indicates there is the potential to increase the overall
gold content of the deposit.

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.”

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)                  Tel: +44-20-7330-1883  
 Jason Robertson   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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