Business
New gold mineralised outcrop discovery
New gold mineralised outcrop discovery.
About this update from Conroy Gold & Natural Resources Plc
[{"type":"text","content":"\n \n 30 April 2020\n Conroy Gold and Natural Resources plc\n (“Conroy Gold” or “the Company”)\n \n NEW\n GOLD MINERALISED\n OUTCROP DISCOVERY\n \n \n \n New Discovery of Gold Mineralisation Enhances Prospectivity of the Glenish Gold Target\n \n \n \n \n New Area of Gold Mineralisation Located Over 500m Northeast from Previous Gold-in-Bedrock\n \n \n \n \n Historical Data Identifies Other Areas of Possible Gold Mineralisation Within the Glenish Licence\n \n \n Conroy Gold and Natural Resources plc (AIM: CGNR), the gold exploration and development Company focused on Ireland, is pleased to announce the discovery of a new gold mineralised outcrop on its Glenish gold target in the Longford - Down gold trend discovered by the Company.\n Channel sampling in the Glenish gold target has identified gold-in-bedrock, 1.0m @ 0.4 g/t Au, from an outcrop of Arenite gouge, with pyrite mineralisation. This newly discovered gold outcrop is located over 500m northeast from the gold-in-bedrock previously intersected by drilling enhancing the overall prospectivity of the Glenish gold target.\n Further outcrops of Arenite gouge have also been identified c. 240m northeast, and c. 1,500m east, respectively, of the drilling location, but have not yet been assayed for gold. Pyrite mineralisation has, however, been observed in both of these outcrop locations.\n The Glenish target is an extensive gold-in-soil geochemical anomaly situated on the intersection of two major geological faults: the Orlock Bridge Fault and the Glenish Fault.\n The Glenish target is located c. 7km (c.4 miles) to the southwest of the Company’s Clontibret gold target, on which the Company proposes to develop its first gold mine, in the new district scale gold trend which extends for 65km (40 miles) which the Company has discovered.\n In addition, a review by the Company, of the Geological Survey of Ireland’s (GSI) online digital archive of historic data has identified areas within the Glenish Licence in which deep overburden sampling was conducted in 1987 and 1989. While the samples collected were not assayed for gold they were assayed for an associated element and the results suggest the possibility for further gold mineralisation 1km to the northeast and over 1.5km southwest of the currently known Glenish gold target.\n These results will be followed up by the Company as part of ...