Conroy Gold & Natural Resources Plc - Appointment of Chairman and Company Update
(“Conroy Gold” or “the Company”)
APPOINTMENT OF NEW CHAIRMAN AND COMPANY UPDATE
-- John Sherman appointed as Company Chairman
-- Update on current Company activity
Discs of
The “Discs of Gold” project in
Gold occurs in multiple styles in the Company’s license area which covers two gold trends, together totalling 90km, suggesting multiple hydrothermal events, including free gold, refractory gold in arsenopyrite and gold associated with pyrite and antimony. There are clear geological analogies between the “Discs” targets and large gold deposits in
The “Discs” name references two gold “Sun Discs” in the collection of the
Preparing for the Next Major Investment Cycle in the “Discs of Gold” Project
The Conroy Gold geological team has initiated a re-logging program covering over 30,000m of drill core to extract more comprehensive and consistent information.
The purpose of this work is to build a robust geological model, identify controls to mineralisation, progress /advance each target and realise the full growth potential of the emerging gold district in Conroy Gold’s license area.
The ongoing learnings from this effort will inform our choices for the next cycle of major investment in the project, including in the context of potential joint venture partnerships.
The re-logging work and evaluation will apply the geological knowledge gained from recent successes at similar ore systems, including those in the Lachlan Fold Best of southeast
The Company intends to upgrade the geological model to provide a robust foundation upon which follow up drill programs will be based. Specifically, the understanding of alteration halos around such mineral systems has developed and can provide a larger footprint for targeting and growing ore zones. The zonation of such alteration halos, in addition to the structural understanding, can also be used as a vector to higher grade zones within the system.
Whilst there are c.90km of favourable geochemical and structural trends which have barely been screened to date, a particularly attractive 7km trend from Clontibret to
The Clontibret gold deposit is sited on a historic Antimony (Sb) mine. The demand for antimony is increasing due to a constrained supply and its recognition as a critical mineral by many countries, and as such the metal is seeing record high prices. As part of the upgrading of the geological model and mineralisation controls, a focus on the antimony mineralisation, controls and potential contribution to project economics is being incorporated.
“I am honoured to have the confidence of my fellow directors to lead the Company as we all work diligently to commercialise its Discs of Gold project through the development of a mine. The geological team has initiated an intensive programme to re-log drill core, whose main purpose is to extract more comprehensive and consistent information from the drill core that will underwrite a more robust geological model to assist in identifying the controls to higher grade mineralization. This work will further inform the Company’s choices in the next round of major investment in the ground. Simultaneously, the Company is actively engaging with interested parties to develop partnerships to accelerate and fund the next phases of the Discs of Gold project.”
For further information please contact :
Conroy Gold and Natural Resources plc Tel: +353-1-479-6180
John Sherman , Chairman
Maureen Jones , Managing Director
Allenby Capital Limited (Nomad) Tel: +44-20-3328-5656
Nick Athanas /Nick Harriss Peterhouse Capital Limited (Broker)
Tel: +44-20-7469-0930
Lucy Williams / Duncan Vasey
Tel: +44-20-3290-0707
Lothbury Financial Services Michael Padley Hall Communications Tel: +353-1-660-9377
Don Hall
Visit the website at: www.conroygold.com
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