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Acquisition Increases Wicklow Gold Strike Length
Acquisition Increases Wicklow Gold Strike Length.
About this update from Arkle Resources Plc
[{"type":"text","content":"\n \nRNS Number : 0087U Connemara Mining Company plc 19 October 2017 \n\n19th October 2017\n \nConnemara Mining Company plc \n(\"Connemara\")\n \nAcquisition Increases Wicklow Gold Target Strike Length\n \n\n\n\nConnemara (AIM: CON) is pleased to announce the acquisition of 100% of Hendrick Resources (Ireland) Limited (\"HRI\"). Connemara has acquired 100% control of twelve (12) existing HRI prospecting licences in Ireland for a royalty agreement comprising a 2 per cent. Net Smelter Return on future production. In addition, the five (5) Connemara prospecting licences in joint venture with HRI have been returned to Connemara. Though the primary focus is gold, lithium pegmatite targets are being developed adjacent to the western margin of the block and Connemara is reviewing potential targets within the expanded block.\n \nJohn Teeling, Chairman, stated \"We are pleased to acquire HRI, a company created by the late Dale Hendrick, a legendary figure in gold exploration. All 17 licences acquired are focused on the gold in the Wicklow/Wexford area. The acquisition has increased the strike length of the primary gold target in Wicklow from around 5kms to 15kms. Connemara has already established drill and trenching targets for late 2017/early 2018 and is planning an expanded programme along the trend. Prospecting has identified lithium bearing pegmatites adjacent to the western margin of the block. We are excited to be busy in this jurisdiction at this time, as activities on exploration and mining projects are increasing across the island of Ireland. Connemara has two other key areas of activity in Ireland including the development of gold targets in the Inishowen block in Donegal and progressing our substantial zinc assets elsewhere in Ireland.\"\n \nMine River Gold Project in Wicklow\nFrom the Wicklow Gold Rush of 1795 to the present day, gold has and is being discovered in the streams and soils in Wicklow and Wexford. It is estimated that 7,000 to 9,000 oz of gold were extracted from alluvial gravels in the area of Mines River. Modern geochemical surveys in streams and soils completed on the block indicate significant strata-bound gold mineralisation associated with the contacts between Ordovician volcanics and metasediments. The pr...