REG-Conroy Gold & Natural Resources Plc: Step Out Drilling at Clay Lake Gold Target

Conroy Gold and Natural ResourcesAnnouncement

08/02/2023 07:15

8 February 2022

Conroy Gold and Natural Resources plc

(“Conroy Gold” or the “Company”)

STEP OUT DRILLING AT CLAY LAKE GOLD TARGET
* Eight drill holes planned
* Clay Lake gold target is one of a series of targets along the gold trend in
the Longford-Down Massif region
* Drilling is also planned on other targets along the gold trend
Conroy Gold and Natural Resources PLC (AIM: CGNR), the gold exploration and
development company focused on Ireland and Finland, is pleased to announce
details of a step out drilling programme on the Derryhennet section of its
Clay Lake gold target, in the gold trend which it has discovered in the
Longford-Down Massif in Northern Ireland. The programme is being carried out
in association with the Company’s joint venture partner, Demir Export A.?.

The Clay Lake gold target in County Armagh is one of a series of targets
discovered by the Company along the 65 km (45 Mile) gold trend.  A JORC
resource of 517,000oz/Au has been estimated on a small part of the Clontibret
gold deposit in County Monaghan (previously announced by the Company on 28
July 2017).

The step out drilling programme at the Clay Lake gold target forms part of an
overall assessment of the gold and base metal potential of the joint venture
area. Eight holes on the Derryhennet section of the Clay Lake gold target,
totalling approximately 2,000m, are planned initially. Drilling is also
planned in due course on other targets along the gold trend.

The overall Clay Lake gold target forms a single large gold-in-soil anomaly,
over 200 Ha (c.500 acres) in area and is nearly 3km in length, which in places
is 2km wide (as previously announced by the Company on 28 January 2016). This
is a much larger gold-in-soil footprint than at the Clontibret gold target.
The drilling programme at Clay Lake will step out from the known gold
mineralisation, where previous trenching and drilling has yielded trenching
results of up to 5m at 3.0g/t gold and, drilling, a continuous gold
intersection of 100m at 0.6g/t gold (including 11.8m at 1.4g/t Au).

Professor Richard Conroy, Chairman, commented: 

“I am delighted to see drilling at the Clay Lake gold target. The initial
drilling programme at Clay Lake forms part of the overall assessment of the
gold trend which the Company has discovered. We are, of course, looking at an
entire new gold district which contains many gold targets along the trend,
including the Clontibret gold deposit, where results have been excellent
including the recent drilling that demonstrated the continuity between that
deposit and the Corcaskea gold target.

I would also like to refer interested parties to the Company website where
there is a map showing the location of the trend and the areas that have been
identified, giving a picture of its potential and the work being
undertaken.”

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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