9 May 2025

 

Conroy Gold and Natural Resources plc

("Conroy Gold" or "the Company")

 

ANTIMONY FLOAT SAMPLES DISCOVERED IN CLONTIBRET DEPOSIT AREA

 

    --  Two float boulders recovered from within the Clontibret gold resource
        footprint
    --  Boulders return high gold grades and encouraging pXRF results for
        antimony
    --  Further evidence supporting new second trend of antimony in the
        Clontibret gold resource footprint

 

Conroy Gold and Natural Resources PLC (AIM: CGNR) is pleased to announce it has discovered antimony-bearing float samples from its Clontibret gold deposit area in County Monaghan, Ireland. These boulders were discovered near a reported historic antimony trial pit to the northeast of the two historic antimony mines in the area, being Tullybuck and Lisglassan.

 

During recent work in the Clontibret area, the geological team identified two float samples of antinomy mineralisation. The samples returned very high gold grades of 21.9 g/t Au and 11.2 g/t Au and results for antimony were above detection limits greater than 1% (10,000 ppb).    The samples are with ALS Laboratory for detailed assaying in relation to antimony ore grade content in the samples.    Encouraging preliminary analysis has already been obtained onsite using a portable X-ray Fluorescence (pXRF) instrument, which returned indicative results in excess of 40 per cent. antimony.

 

This work is part of follow up actions being taken by the Company to demonstrate the antimony potential of Clontibret and in particular to further evaluate the second antimony trend identified by the initial results from remodelling the Clontibret deposit (as announced by the Company on 27 th February 2025).   Work continues on completing the relogging of drill core from the deposit and the construction of a more robust 3D geological model, in tandem with follow up exploration activity in relation to antimony.      

 

Mr John Sherman, the Company's Chairman, commented: " The discoveries of antimony float which show high gold grades further highlight both the antimony potential of the Clontibret deposit and its correlation to potentially high-grade gold.   We are looking forward to exploring the potential of the second antimony trend identified recently to increase the scale of the gold resource within the existing resource footprint.    The Company also intends to apply to the European Commission for recognition of Clontibret as a strategic project under the European Critical Raw Materials Act 2024 on the basis of the antimony content ."

 

Historically, the Clontibret area was known for its small-scale antimony mine operations, which were active in the 18 th and 19 th centuries. Channel sampling of the two historic antimony mines resulted in the first bedrock gold discovery in Ireland. High antimony grades of 14.5% over 1.2 metres were previously recorded together with gold values of up to 35.0 g/t gold over 2 metres.  

 

Historical references in a report by Russell 1917 (Report on the Clontibret Antimony mine, Castleblayney, Co Monaghan) had been made of a trial pit associated with the area where the float boulders were recovered.    Some references related to the trial pit included in the Russell report are as follows:

 

"On the East bank of the stream in the townland of Lisglassan, 55 feet N.E. of the main shaft, a trial pit has been sunk to a depth of about five feet by the present proprietors. This reveals a vein bearing approximately 45° E. of N and underlying about 45° N.W. It has a very well-defined footwall, and fairly well-defined hanging wall, and carries a rib of excellent stibnite 8 inches wide."

 

"This same pit reveals another rib of antimony 3 inches wide running parallel to and under the stream the direction being approximately that of the main vein as exposed in the north drive from the main shaft. This rib is, therefore, probably, identical with one of these exposed in the drive, which has reached a point almost under the pit."

 

The precise location of the trial pit has been lost over time but a recently uncovered map (Figure 1 below) is believed to show the location of this trial pit which also fits the description above by Russell.

 

Figure 1: Historical map with assumed location of the historic trial pit marked .

Map from:    Hallissy T 1914 Explanatory Memoir to Sheet 58, illustrating parts of the Counties Armagh, Fermanagh and Monaghan. Memoirs of the geological Survey of Ireland.

Conroy Gold's prospecting work to determine the precise location of the trial pit led to the discovery of some spectacular examples of stibnite in float.   The company plans to perform further work focused on uncovering the trial pit in order to progress the Company's understanding of a new second trend of antimony previously identified by the Company.     It will also assess the potential of this second trend to increase the overall gold content within the resource footprint.

 

Significantly, the large "8 inches wide" vein reported to have been visible in the trial pit is noted to be at an acute angle " bearing approximately 45° E. of N and underlying about 45° N.W " to the veins in the main mines.   This would reinforce the existence of the second trend (Northeast - Southwest orientation) parallel to the lithology and the stockwork zone shown from the mineralisation shells created by the pXRF antimony analysis carried out as part of the re-logging programme.

 

This release has been approved by Kevin McNulty PGeo, who is a member of the Company's technical staff and 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.

 

About the "Discs of Gold" Project

Conroy Gold's "Discs of Gold" project in Ireland is defined by two parallel district scale gold trends, extending over c.90km, which are 100 per cent. held under license by the Company and anchored by the Clontibret gold deposit. The Clontibret target area contains a currently defined 517Koz gold resource @ 2.0 g/t Au (320Koz Au Indicated and 197Koz Au Inferred (2017)) which remains open in multiple directions. The Company has identified a further seven gold targets in its license area with the Clay Lake and Creenkill gold targets being of particular interest. Gold occurs in multiple styles in the Company's license area, including free gold, refractory gold in arsenopyrite and gold associated with pyrite and antimony (stibnite), suggesting multiple hydrothermal events seeded the deposit.   There are clear geological analogies between the "Discs of Gold" targets and large gold deposits in Southeastern Australia and Atlantic Canada.

 

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 HarrissPeterhouse Capital Limited (Broker)
                                      Tel: +44-20-7469-0930
Lucy Williams / Duncan Vasey
                                      Tel: +44-20-3290-0707
Lothbury Financial ServicesMichael PadleyHall Communications                   Tel: +353-1-660-9377

Don Hall

 

Visit the website at: www.conroygold.com

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