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Results from drill holes at Clay Lakes
Results from drill holes at Clay Lakes.
About this update from Conroy Gold & Natural Resources Plc
[{"type":"text","content":"\n \n18 January 2010 \n\n Conroy Diamonds and Gold P.l.c. \n\n (\"Conroy\" or \"the Company\") \n\n Successful result from first drill holes at Clay Lake gold target \n\n * 63 metres of 0.62 grammes per tonne (\"g/t\") gold and 1g/t silver, including\n 9 metres of 1.48g/t gold and 1g/t silver\n \n * 310 metres drilled in north-western corner of 141 hectare soil anomaly\n \n * Wide zone of mineralisation and quartz stockwork intersected\n \n * Potentially larger than the Clontibret gold discovery\n \nConroy (AIM: CDG; IEX: CDG.I) is pleased to announce that it has completed two\ninclined diamond drill holes, totalling 310 metre, in the north-western corner\nof its Clay Lake gold anomaly in Co. Armagh which returned positive gold\nresults and demonstrated the presence of a broad zone of mineralisation.\n\nThe Clay Lake anomaly covers an area of approximately 141 hectares (\"ha\") and\nhas returned the highest gold-in-soil values ever recorded by the Company on\nits Irish exploration licences. It is larger than the Clontibret anomaly\n(125ha), 7km to the south-west in Co. Monaghan, where the Company has\nestablished a JORC-compliant gold resource of over one million ounces.\n\nOne of the drill holes at Clay Lake was 157 metres long and reached a vertical\ndepth of approximately 110 metres. It intersected 3 metres of 1.57g/t gold from\n22.5 metres, followed by a 63 metres intersection of 0.62g/t gold and 1g/t\nsilver from 90.5 metres, the first 9 metres of which averaged 1.48g/t gold and\n1g/t silver. Arenites and argillites (shales) were the main lithologies in this\nhole.\n\nThe 63 metres zone of mineralisation in this hole occurred in a sequence of\nargillites with quartz stockwork. The highest gold value over a single metre\nwas 3.07g/t, and the lowest was 0.15g/t.\n\nThe intersection also carried elevated silver values of up to 2.5g/t. This is\nsignificant in its own right and also enhances the Company's understanding of\nthe Clay Lake target and how it differs from the other major targets the\nCompany has discovered on its licences. It also indicates that the gold at Clay\nLake has different characteristics to that found in the Clontibret deposit.\n\nThe other hole, 153 metres long which also reached a vertical depth of\napproximately 110 metres, intersected 8 metres of 0.93g/t gold from 34 metres,\nincluding 3 metres of 2.13g...