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Drilling Commenced on Clontibret Gold Deposit
Drilling Commenced on Clontibret Gold Deposit.
About this update from Conroy Gold & Natural Resources Plc
[{"type":"text","content":"\n \n12 February 2018\n\nConroy Gold and Natural Resources plc\n\n(“Conroy†or “the Companyâ€)\n\n DRILLING COMMENCED ON CLONTIBRET GOLD DEPOSIT\n\n\nTwo Drill Rigs on Site\n\n\n\n1,000 Metres of Drilling Planned\n\n\n\nIncreased Resource Targeted Together With Conversion of Inferred into Indicated Resources\n\n\n\nExtent of High Grade Gold Lodes Indicated by Channel Sampling in The Historic Tullybuck Antimony Mine Also Targeted\n\n\nConroy Gold and Natural Resources plc (AIM: CGNR), the gold exploration and development company focused on Ireland and Finland, is pleased to announce that the planned drilling programme on the Company’s Clay Lake-Clontibret gold target in Ireland (announced on 29 January 2018) has now commenced. Two drill rigs have been mobilised to site.\n\nThe current drilling programme is focused on the Clontibret gold deposit in the south west of the Clay Lake-Clontibret gold target; where a JORC resource of 517,000 ounces of gold has already been defined on 20 per cent. of the Clontibret gold target.\n\nThe drilling programme has been designed to:\n\n\nUpgrade the overall mineral resource at Clontibret.\n\nConvert inferred into indicated resources in order to apply mining parameters.\n\nTest extent of high grade gold lodes indicated by channel samples in the historic Tullybuck antimony mine.\n\n\nThe drilling is also planned to gain geotechnical information in relation to the Company’s proposed gold mine at Clontibret.\n\nA thousand metres of drilling is planned over a total of 10 drill holes, to a depth of up to 200 metres in this phase of drilling.\n\nFurther drilling will follow both on the Clontibret gold deposit and elsewhere on its 100 per cent. owned licences along the 65 km (40 miles) gold trend which the Company has discovered in the Longford-Down Massif.\n\nThis release has been approved by Kevin McNulty, PGeo, who is a member of the Company's technical staff and 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.\n\n Professor Richard Conroy, Chairman commented:\n\n“I am pleased to announce the commencement of this drilling programme at the Clontibret gold deposit. The programme is desi...