Business
Exploration Update
Exploration Update.
About this update from Arkle Resources Plc
[{"type":"text","content":"\n \nRNS Number : 3628W Connemara Mining Company plc 08 February 2017 \n\n8th February 2017\n\n\n\n \n \nConnemara Mining Company plc (\"Connemara\" or \"the Company\")\nExploration Update\n \nThe directors of Connemara Mining (AIM: CON) are pleased to provide an update on exploration activities at our Oldcastle and Donegal concessions.\n \n \nOldcastle\nTrace mineralisation has been intersected in the latest drill hole within the Oldcastle Block located on the Meath/Cavan border. The Oldcastle block of five licences is being explored by Teck Ireland Ltd (Teck) under an option agreement with Connemara, where Teck have now earned into a 65% holding in the block. Results from TC-1991-003 include 0.3% zinc and 0.09% lead at 725-726m (1m), from the Top Micrites of the Navan Group. The drill hole helps in establishing the regional model and in targeting directions for future drilling. Teck continues to advance the Oldcastle ground as part of their North Midlands zinc exploration programme where the target is a Navan style zinc/lead orebody.\n \n \nInishowen\nFollowing the successful drilling results at Inishowen last year the team shifted its focus 8 km north to the historic lead, silver mine at Glentogher to establish a connection, if any, to the gold mineralisation. The first level was cleaned out and made safe before sampling. Work was restricted due to hazardous ground. The results confirmed the presence of lead, zinc and silver within a 2m wide bed but no gold values were obtained. The results help in revising the regional and local structural model before the next drilling campaign. It is believed the gold veins have been affected by deformation and faulting which must be understood before further drilling takes place.\n \nJohn Teeling, Chairman, commented \"We are making progress on both active exploration programmes.\n \nThe Oldcastle project, being funded by Teck, is grass a roots exploration programme. We are searching for a world-class system -with the Tara Mines style zinc orebody being the analogue. We have evidence for favourable stratigraphy, structures, alteration and trace mineralization in an area that is 20 miles from Navan. The latest drill hole has traces of lead and zinc, as do the two previ...