Conroy Gold and Natural Resources has announced the discovery of a new area of bedrock gold mineralisation halfway between the Clontibret gold deposit and the Corcaskea gold target in Ireland.
The gold outcrop discovered during prospecting has a grade of 5.6 g/t gold. The outcrop lies to the north of the Clontibret gold deposit on which the Company has defined a JORC resource of 517,000 ounces gold and to the south of the Corcaskea gold target which has yielded significant gold intersections in trenches, including 16.5 metres at 6.5 g/t gold and 12 metres at 4.9 g/t gold.
Geological interpretation suggests continuity between the Clontibret gold deposit, which is openin all directions and to depth, and the Corcaskea gold target, is becoming established.
A direct link between the Clontibret gold deposit and the Corcaskea gold target could indicate significantly increased gold potential in the area.
The new gold mineralisation was discovered c. 275 metres (Northeast) from the nearest drill hole in the Clontibret gold deposit and c. 260 metres (Southwest) from the nearest trenching in the Corcaskea gold target area.
Professor Richard Conroy, Chairman commented: “The discovery is an exciting development and with the possibility of a direct link between the Clontibret gold deposit and the Corcaskea gold target is a further strong indication of the overall gold potential of the 17km (10 mile) Clontibret – Clay Lake – Glenish gold district. We are working to both increase the overall resource of the licence area and to develop a mine, initially at Clontibret where we have the current defined JORC resource.”
Source: Company Press Release