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Targeting 5 million oz of gold at Clay Lake –...
Targeting 5 million oz of gold at Clay Lake –....
About this update from Conroy Gold & Natural Resources Plc
[{"type":"text","content":"\n \n 31 March 2016\n\nConroy Gold and Natural Resources plc\n\n(“Conroy†or “the Companyâ€)\n\nTARGETING 5 MILLION OZ OF GOLD AT CLAY LAKE – CLONTIBRET\n\n\nClay Lake and Clontibret Targets To Be Combined\n\nClontibret Over 0.6 million Oz Of Gold (JORC Compliant) Previously Established\n\nClay Lake Gold Anomaly Now Extends Over 200 Hectares (c500 acres)\n\nExploration Target Of 5 Million Oz Of Gold is Conceptual in Nature\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 a quantitative risk assessment by independent consulting geologist, Professor Garth Earls, has established a combined Exploration Target of 5 million oz of gold at the Company’s adjacent Clay Lake and Clontibret gold targets. \n\nA JORC compliant resource of over 0.6 million oz Au, using a minimum mining width of 2 metres and a cutoff grade 0.6 g/t Au has already been established on 20% of the geochemical target at Clontibret. The mineralisation at Clontibret remains open along strike, at depth and over the remaining 80% of the geochemical target area. \n\nThe adjacent Clay Lake geochemical target has recently been shown to be approximately 3km in length, up to 2km in width and to have a surface area of over 200 hectares (c500 acres). The results of structural studies and wide zones of gold mineralisation already reported indicate the potential for high tonnage and overall gold content at Clay Lake.\n\nThis Exploration Target of 5 million oz of gold is, however, conceptual in nature as the combined Clay Lake and Clontibret target requires further drilling and there can be no certainty that future resource estimates for the project will achieve the Exploration Target.\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“The establishment of a combined exploration target of 5 million oz of gold at Clay Lake – Clontibret is a major step forward for the Company, ...