Conroy Gold & Natural Resources PLC on Monday said assay results show it has intersected gold at its Clay Lake gold target in the Longford-Down Massif in Ireland.
The gold exploration and development company focused on Ireland and Finland said the results included a gold intersection of 40.5 metres at 1.2 grammes of gold per tonne.
The drilling programme is being undertaken alongside the company’s joint venture partner Demir Export A.
Conroy said the drill results are from the first of eight planned holes, totalling 2,000 metres of drilling, at the Derryhennet section of the Clay Lake target.
The drilling also intersected 2 metres at 1.1 grammes of gold per tonne, and 0.5 metres at 1.4 grammes per tonne.
The company noted that the gold intersection adds to its understanding of the potential scale of the Clay Lake target.
Chair Richard Conroy said: ‘This is an excellent start to the step-out drilling programme at Clay Lake and adds further to the overall gold potential of this new gold district. In addition to this drill programme work is also continuing on other gold targets and further results will be announced in due course.’
Conroy Gold shares closed down 3.6% to 20.00 pence each in London on Thursday. The stock is down 9.1% over the past 12 months.
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