Business
Enlargement of Clay Lake gold target
Enlargement of Clay Lake gold target.
About this update from Conroy Gold & Natural Resources Plc
[{"type":"text","content":"\n \n28 January 2016\n\nConroy Gold and Natural Resources plc\n\n(“Conroy†or “the Companyâ€)\n\nENLARGEMENT OF CLAY LAKE GOLD TARGET\n\n\nSingle Gold Anomaly Is Now Approximately 3km In Length And Up To 2km In Width\n\n\n\nSurface Area Of Over 200 Ha (c.500 Acres)\n\n\n\nDrilling And Trenching Results Suggest Possible Continuity Between The Mineralisation Events At Either End of the Anomaly\n\n\nConroy Gold and Natural Resources plc (AIM: CGNR, ESM: CGNR.I), the gold exploration and development company focused on Ireland and Finland, is pleased to announce that positive results from a gold-in-soil sampling programme have shown that the Clay Lake and Cargalisgorran gold targets in Co. Armagh form a single large gold-in-soil target anomaly, over 200 Ha (c.500 Acres) in area, nearly 3km in length and, in places, 2km wide.\n\nGold-in-bedrock has already been demonstrated at either end of this enlarged gold target. This includes a drilling intersection of 7.5m @ 5.58 g/t Au and trenching of 10m @ 2.46g/t Au at the southwest end (Cargalisgorran), and drilling of 100m @ 0.56g/t Au including 11.5m @ 1.55g/t Au, and trenching of 5m @ 3.02g/t Au in the northeastern end. Between the northeast and southwest portions of the anomaly, intersections of low grade gold and black carbonaceous stockwork material have been encountered suggesting the possibility of continuity between the mineralisation events at either end of the anomaly. \n\nThis release has been approved by Kevin McNulty PGeo, who is a member of the Company’s technical staff who 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\nProfessor Richard Conroy, Chairman commented:\n\n“This is a positive and exciting step forward and the new information supports the potential for the presence of very significant underlying resources at the Clay Lake Gold Target.â€\n\nFor further information please contact:\n\n\n\n\nConroy Gold and Natural Resources plc\nTel: +353-1-661-8958\n\n\n\nProfessor Richard Conroy, Chairman\n\n\n\n\nSanlam Securities UK Limited (Nomad)\nTel: +44-20-7628-2200\n\n\n\nVirginia Bull/Simon Clements\n\n\n\n\nHybridan LLP (Broker)\nTel: +44-20-3764-2341\...