Business
Interim Statement for the period ended 30 June 17
Interim Statement for the period ended 30 June 17.
About this update from Arkle Resources Plc
[{"type":"text","content":"\n \nRNS Number : 8026R Connemara Mining Company plc 26 September 2017 \n\n26th September 2017\n \nConnemara Mining Company plc \n(\"Connemara\" or \"the Company\")\n \nInterim Statement for the period ended 30 June 2017\n \n\n\n\nThis is a good time to be in zinc exploration and a good time to have ground in Ireland. This is a good time, we believe, to be shareholder in Connemara which holds highly prospective licences in both zinc and gold across one the best rated jurisdictions for exploration and mining in Europe.\n \nZinc\nZinc has been the best performing metal on the London Metal Exchange in the past 18 months almost doubling in price. At over $3,000 a ton the zinc price makes zinc mining a profitable venture and it enhances the value of good exploration ground. Historically, Ireland has been a very good location in which to prospect for zinc. The geology is positive and title is secure. There is political stability, good infrastructure and all of the ancillary services required. The above explains the recent rush of Canadian and Australian explorers into Ireland mainly prospecting for zinc.\n \nWe believe Connemara has good zinc exploration ground and the Company holds 19 licences, almost all in the well-established North East and South West limestone based trend. In the recent past we have added seven new licences; five in Derrykearn, close to the closed Lisheen/Galmoy mines; and two are in West Cork surrounding a closed barite mine and where historical base metal anomalies (Zn-Pb-Cu) have been sampled.\n \nWe have two joint ventures on 11 zinc licences - six with Group Eleven at Stonepark in Limerick and five with Teck at the Oldcastle project in Meath/Cavan.\n \nGroup Eleven, a private, but soon to be listed, Canadian company, recently acquired the 76.56% shareholding in TILZ, the joint venture company drilling the Stonepark project, held by Teck Ireland Limited (\"Teck\"). Stonepark, discovered by Connemara/Teck in 2007, has three high grade pods of zinc adjacent to the large Glencore discovery in Pallas Green. To date 135 holes have been drilled but more are needed. Group Eleven have stated that Stonepark is a priority target.\n \nOur second joint venture is a Teck earn-in in the Oldcastle area. Teck have had li...