Business
Further re : Testing of Samples
Further re : Testing of Samples.
About this update from Conroy Gold & Natural Resources Plc
[{"type":"text","content":"\n \nThis announcement replaces the announcement released earlier today at 11.27. This announcement now shows the correct \nheadline of 'Further re: Testing of Samples.\n \n 13 February 2006\n\n Conroy Diamonds and Gold plc ('Conroy') \n\n CONROY RECEIVES POSITIVE RESULTS FROM \n\n FIVE OF SIX NEW TARGETS SAMPLED \n\n ON ARMAGH-MONAGHAN GOLDBELT \n\n * Deep Overburden Testing Show Targets 5 & 6 Form Single Area 1km By 500m\n \n * Follow-Up Sampling Required To Define Periphery Of Target Area\n \nConroy Diamonds and Gold Plc is pleased to announce further positive results\nfrom its ongoing programme of closely-spaced deep overburden sampling on the\nten targets first announced last April on its Longford-Down Massif licences in\nthe north of Ireland. Six of the ten targets, originally defined by shallow\nsoil geochemistry, have now been sampled in this way, and five have returned\npositive gold results.\n\nThe latest sampling, mostly to bedrock, encountered anomalous gold over wide\nareas with values of up to 172 parts per billion ('ppb') gold returned from\nTarget 5 and a peak value of 334ppb from Target 6. Background values in this\narea are typically less than 4ppb gold, and 10ppb is considered anomalous.\n\nConroy says it now believes that these two targets constitute a single anomaly\nwhich measures approximately 1,000m by 500m. The company also reports that some\nof the anomalous results occur at the periphery of the target areas, and\nfurther follow-up sampling will be required to fully define the extent of the\ncombined Target 5/6 area.\n\nAll of the targets sampled to date have a spatial relationship with the Orlock\nBridge Fault, which is believed to be a controlling factor on gold\nmineralisation within the Company's licences.\n\nThe ten new targets lie within a 20km² section of the Armagh-Monaghan Gold Belt\nthat also includes the Company's Tullybuck-Lisglassan and Glenish gold\ndiscoveries. The targets are regarded as being highly prospective because they\nrelate to intersections of deep-seated lineaments along the Orlock Bridge\nFault. Such lineaments are particularly important as major gold deposits\nelsewhere in the world frequently form on or close to such structures.\n\nTo date, the Armagh-Monaghan Gold Belt has been outlined over an area of about\n60km2. This represents less than 5% of the Company's total l...