Trenching at Clay Lake
08/05/2014 07:00
8 May 2014
Conroy Gold and Natural Resources plc
("Conroy" or "the Company")
WIDE MINERALIZED ZONES DEMONSTRATED BY TRENCHING AT CLAY LAKE GOLD TARGET
* 666 Metres of Trenching Completed
* Wide Mineralized Zone Demonstrated Near Surface
* Black Shale Present In Three Out Of Four Trenches
* Results Further Suggest Potential of Clay Lake Gold Target for High Tonnage
and Overall Gold Content
Conroy Gold and Natural Resources plc (AIM: CGNR, ESM: CGNR.I) is pleased to
announce that further to the recently completed independent structural study on
its Clay Lake gold target in Co. Armagh, a follow up trenching programme has
shown wide mineralized zones. Mapping and structural analysis of the trenches
was undertaken by independent consultant structural geologist Dr David Coller.
The trenching was carried out to further define the veins, cleavage, bedding,
structural orientations and general geological units at surface and to relate
these orientations to previous drilling. Four trenches were dug - a total of
666 metres - using a large track mounted excavator. Bedrock was encountered in
most of the trenching.
The results demonstrated that, in addition to the wide mineralized zones
intersected in drilling at depth, mineralization occurs in subcrop at the base
of till near surface. Wide sheared and mineralized black shale was present in
three of the trenches with a regional East Northeast strike trend. Mineralized
black shale in this area tends to be associated with the presence of gold.
Correlation of the trench data with drilling data indicates that the central
part of the system is steep dipping to the North and may have significant depth
extent which is as yet untested.
The new geological information further reinforces the view that the Clay Lake
gold target may have the potential for high tonnage and overall gold content.
This release has been approved by Kevin McNulty PGeo, who is a member of the
Company's technical staff, who 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, Chairmancommented:
"I am delighted with these results which lend further credence to the view that
the Clay Lake gold target has the potential for high tonnage and overall gold
content."
For further information please contact:
Conroy Gold and Natural Resources plc Tel: +353-1-661-8958
Professor Richard Conroy, Chairman
Sanlam Securities UK Limited (Nomad) Tel: +44-20-7628-2200
Virginia Bull/Simon Clements
Hybridan LLP (Broker) Tel: +44-20-7947-4350
Claire Louise Noyce/William Lynne
IBI Corporate Finance Limited (ESM Adviser) Tel: +353-766-234-800
Ger Heffernan
Lothbury Financial Services Tel: +44-20-7868-2010
Michael Padley
Hall Communications Tel: +353-1-660-9377
Don Hall
Visit the website at: www.conroygoldandnaturalresources.com
END